No Index

As the ancients put it, no man ever born of woman ever survives. And none ever gets through his life without making mistakes. Vanity, hatred, envy — the sins to which flesh is heir — always show up.

In the Great Depression, we went broke and stood in food lines. History – that tart – always gets what she wants. So what do we do now?

Investing is always about tomorrow. Every recommendation…every analysis…every newsletter editor tries to look ahead in order to take advantage of it…or protect himself from it.

Fake growth produces high asset prices, increased sales and profits, and raises debt levels. It distorts the economy…uses up precious time and resources (capital!)…and actually makes us poorer.

Ultimately, output depends on someone putting out. But who? Native-born American women are not having enough children to keep up.

The more of a society’s resources that are spent on the feds’ projects, the less is left for everything else. Government borrowing in the US now ‘crowds out’ private borrowing almost completely.