The R-Word
Fearing a recession is a psychological phenomenon. Experiencing one is a whole different thing. And if fear were the real risk, the recession itself must be of no importance.
Economic Shrinkage
Economic Shrinkage
Once an economy has gotten used to big doses of cheap money (artificially low interest rates…deficits…quantitative easing, etc.), trying to go back to normal monetary policies is painful.
The Fed’s Secrets
The Fed’s Secrets
empires need enemies. China is a good one. It’s big. It’s powerful. And it’s a plausible candidate to replace the US as the world’s number one hegemon.
Food Fight!
Food Fight!
The Fed has only one real tool — liquidity (cash or credit) — and only one real decision to make: add to it or subtract from it. Either pour some more liquor into the punchbowl or take the punchbowl away.
Inflate or Die
Inflate or Die
Wages are said to be going up at a 5% annual rate. Prices are rising at a 9% rate. That leaves a 4% gap — the rate at which real incomes are falling.
When Fake Wealth Disappears
When Fake Wealth Disappears
Jobs. And houses. Houses and jobs. Those are the two pillars of US middle class living standards. Jobs provide income. Houses are assets that can be readily sold. But it looks to us like the housing pillar is beginning to crack.
Crypto Insider
Crypto Insider
When something seems too good to be true, it is usually neither good nor true. And when we first heard of crypto accounts that would pay as much as 18% interest, we guessed that the important part of the story was yet to be told.
Scorched Earth Policies
Scorched Earth Policies
The local news is just one shooting report after another. The mayor is on the defensive…he looks overwhelmed…out of his depth…like he just got cut from a high school basketball team.
Locked and Loaded
Locked and Loaded
With so much fawning coverage by the Western media — about how the valiant freedom fighters in Kyiv are kicking Russia’s butt — we’re beginning to wonder. There’s always more to the story; what is it?
The Dim Brigade
The Dim Brigade
The Russian military was portrayed as ill-equipped, ill-trained, ill-disciplined, and hopelessly incompetent. Not once have we heard of a Russian victory…a Ukrainian killed, or a Russian who was not. At this stage, based on US news reports, it’s amazing that there is a Russian soldier left alive.
