Alien Inflation
You’d think inflation were like an invasion from space. It caught us all by surprise; no one on Earth had anything to do with it.
Heads on Pikes
Heads on Pikes
What is the difference between an illegal insurrection — such as the one being investigated on Capitol Hill — and a glorious revolution, such as the one that began on this day 233 years ago?
Inflation Nation
Inflation Nation
The Fed has walked off the job. It’s no longer spiking the punch and inflating the economy. But the music is still playing; once underway, inflation can be hard to stop.
Look Out Below!
Look Out Below!
Autos, commodities, stocks, bonds — almost everything is going down. Real estate is so ‘local’, it’s harder to tell what is going on. But the likelihood is that it will go down with everything else.
China and the Dollar
China and the Dollar
So now, with its own labour and raw materials costs rising, China is no longer enabling US money printers. Consumer prices are rising everywhere. And inflation takes on a life of its own.
Original Monetary Sin
Original Monetary Sin
Yes, the Fed has turned off the hot gas. It’s the end of ‘financialisation’. The ‘inflate or die’ economy is dying.
But why now?
Forbidden Fruit and a Pension Problem
Forbidden Fruit and a Pension Problem
tocks go up. Then they go down. They went up, with brief interruptions, for 39 years…from August 1982 to November 2021. Since then, the Dow has lost about 5,000 points.
Praying for Deliverance
Praying for Deliverance
Yesterday morning investors were in trouble. The last six months were the worst in the stock market since 1970. As for the bond market, they were the worst since George Washington was president.
History’s Most Aggressive Crusade
History’s Most Aggressive Crusade
We left Ireland yesterday. The airport was packed. Where are they all going, we wondered. Old, young…fat, slim…we didn’t think COVID had left so many alive.
The US, Now and Then
The US, Now and Then
Today is a holiday in the US. Americans celebrate what they used to be. And pretend they still are.
