US$24 billion is a lot of money for a 29-year-old. And it’s another source of sceptical curiosity. Money is meant to reflect one’s contribution — in terms of goods or services — to the wealth of others. Andrew Carnegie gave us steel. Rockefeller struck oil. What was Sam’s contribution?
‘Until Something Breaks’
Big companies, as well as little ones, are now sweating their interest payments. Some of them already face interest charges north of 10% — which is a lot to pay for a struggling business. One by one…tiny cracks will appear. And then, like the proverbial bull in a china shop, Mr Market will stomp on them all.
The New Old Normal
Last week, investors began to see what is headed their way. For most of the year, they’ve been in denial. Stocks go down; they buy the dip. And then, they go down again. But that only brings the same reflex. Their investment strategy was simple. BTFD, they say — ‘Buy the F…ing Dip’.
Racist Chickens
When the going gets tough, people do tough things…things that they would find disgusting or immoral when the going is good.
Forward…into the Past
The elite in Europe and the US are preparing another Great Leap Forward. They will stifle the vernacular, energy-based economy and replace it with their own centrally controlled system
A Cold Day in Hell
Middle-class Americans store much of their wealth in their homes. If house prices are cut in half, so is much of their wealth. And, houses are typically a leveraged asset, a liability as well as an asset.
He Said, Ze Said
In natural, vernacular languages, people say what they want…and the language evolves along with the society it serves. But in an anti-vernacular language, such as Esperanto, a small group can determine the rules for everyone.
Here Comes the Sun
The beginning of the Industrial Revolution — which might be more properly called the ‘fossil fuel revolution’ — there were two billion people on our planet. Now, there are four times as many. Those extra six billion people are only alive because of the energy in fossil fuels.
Louis 14th Has a Toothache
The markets were on edge last week. Up. Down. Sideways. Mr Market seemed undecided. Unsure. Was the Fed getting ready to ‘pivot’? Was the recession going to be ‘softer’ than we expected? He didn’t know.
A Very Slight Recession
We are breathing a lot easier, how about you? We had been worrying that a devastating recession would plunge the US into chaos…losses…and confusion…giving the Fed the smokescreen to go back to what it does best — causing inflation…
