This Brave Ahab
By our reckoning, US stocks are about US$25–30 trillion overvalued. Typically, around 80% of GDP, the Wilshire 5000, which captures all US publicly traded equities, is now almost at 200%.
An Ill Wind Blows
An Ill Wind Blows
Consumer goods and services cost Americans 6.4 percent more than a year prior in February, the latest data from the U.S. government showed on Thursday
The Great Beyond
The Great Beyond
Carlos died by drowning, a very rare thing in a very dry country. It was ruled an ‘accident’ by the police. But it didn’t look like an accident to us.
Tidal Forces
Tidal Forces
There was so much going on these last couple of weeks. It was easy to get waylaid or delayed. Each headline demanded attention. Was it important? Or just more nonsense?
Time to Sell!
Time to Sell!
he Fed has not yet recognised the magnitude of its errors. It kept interest rates too low for too long, failed to see rising inflation, failed to realise that it was not ‘transitory’, and then failed to take any serious steps to stop it.
The Flow of Power
The Flow of Power
The great Potomac of power and resources continues flowing — toward Washington. Joe Biden has just proposed the biggest tax increase in history.
Following the Leaders
Following the Leaders
Where do they get the money? There are only three possible sources. Taxes. Borrowing. Or printing. By which of these are the people of the US better off?
The Bolshevik Blueprint
The Bolshevik Blueprint
As predicted…rich Russians are using the US’s sanctions war to get richer.
The Russian Bear
The Russian Bear
What good is money that someone can cancel with a flip of a switch…on his own say-so? Not much. So it was inevitable that the Russians would look for workarounds.
American Oligarchy
American Oligarchy
What do you do when all your lilies are gilded…and the world lies at your feet like a dead Ukrainian soldier? You try to improve it, of course.
