A trickle of disappointing profits
That is why we spend so much effort trying to avoid the Big Loss. They’re always bigger than you think. You have $1 million in your account. The market goes down and you lose money.
Meet the Real Boss
Meet the Real Boss
We are not borrowing from the future; we are stealing from it – spending money that we haven’t earned and never will earn. It’s a swindle, not honest finance. Borrowers will not repay.
Degeneration and Decadence
Degeneration and Decadence
In honest businesses, as in honest government, the ultimate challenge to the ‘deciders’ is to provide something worth more than it cost to produce. In business, this extra is a ‘profit.’
Running Out of Money
Running Out of Money
It is in writing where we find preserved the principles of our civilization; in Homer and the Bible…Smith, Hume, Jefferson…the separation of powers, the rule of law, and sound money.
It’s Worse Than You Thought
It’s Worse Than You Thought
We are enjoying a couple of days, sweltering in Paris. The mercury soared to 95 degrees on Monday. Trees wilted. Sidewalks buckled. Tourists trudged from one crowded shrine to the next.
Let’s Not Make a Deal
Let’s Not Make a Deal
Interest rates are probably on their way to all-time highs. And if that is so, it is the single most important financial news you’re likely to get today, this week, or this year.
Knock the Temple Down
Knock the Temple Down
The drama over the weekend came when thousands of Moroccans surged into a Spanish enclave on the African coast. But what sense did it make?
Thrown Back to Earth
Thrown Back to Earth
In July 2020, the real yield on Fed Funds loans was NEGATIVE 6%. And that was after 40 years of declining yields. The Fed was giving away money…and paying people to take it.
A prayer for the grandchildren
A prayer for the grandchildren
It’s all part of the great rhythm…the beat that goes on…and on…and on. Everything corrects. Everything regresses to the mean. From ashes to ashes…dust to dust.
What went wrong at IBM
What went wrong at IBM
What matters, at the end of the day, is cash. Either you have it or you don’t. Google, for example, is making more of it than any company in history — $112 billion in the last quarter.
