The Report from Iron Mountain
The Ukraine is running out of weapons, money, and enthusiasm. Most important, it is running out of meat for its grinder.
Fighting the Fed
Fighting the Fed
‘Your first loss is your best loss,’ say the old timers. By that they mean that when you see the trend going against you, you should go home as soon as possible.
~ Rosanne Cash
When the West Marched East
When the West Marched East
Russia has always had an uneasy relationship with Europe…sometimes admirer and imitator…sometimes fighting for its life against ‘the West.’ A little history might help clarify
What We Expect
What We Expect
We are still in a transition period. From the bull markets of 1980 — 2020, we are now entering into bear markets. Or so we believe.
A call to ARMs
A call to ARMs
The Fed is supposed to begin its “pause”…a prelude, it is widely believed, to cutting rates next year. Nearly 20 years ago, we wrote a book, with Addison Wiggin, in which we saw this coming.
On the Nature of the Universe
On the Nature of the Universe
Policymakers and Fed watchers are now giving more attention to a new line of argument, that central banks need to take account of what their actions mean for the supply side of the economy.
California Dreamin’
California Dreamin’
The US has been slipping in the international ratings for at least 20 years…and by some measures, for more than 50 years. The US share of world GDP, for example, has been cut in half, from around 40% in 1960 to barely 25% today.
Salt of the Earth
Salt of the Earth
People wonder what life in France is really like. We’ve been here so long, it all seems very normal to us. We no longer notice things that, to a visitor, might seem strange or fascinating.
What Kind of Morons are We? Part Duh
What Kind of Morons are We? Part Duh
A dear reader wrote to tell us, in effect, how dumb we are. He writes:
‘The most ridiculous, crazy, imbecilic thing I’ve ever read of yours is the so-called “comparison” between the cost of an early 1970s pickup and a 2020 pick-up.’
Time Decays
Time Decays
Labour Day came and went…as it always does. But nowhere did we see anyone ask the question: which way is labour going? Up or down?
