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.
Commentary
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 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.
Nobody Knows Anything
Wars are fundamentally inflationary; you don’t worry about the long-term damage done by money printing, not when you’re in a shooting war. You can’t even stop to wonder why you’re shooting at all.
Marked for Extincition
The oppressors and the oppressed mostly stay where they are. More than half a century of the War on Poverty, for example, has left us with about the same proportion of poor people as we started with.
Breaking Down The ‘R’ Word
It is flatly impossible for a normal human animal to go through life without preferences. It is discrimination that is the piston power of progress.
