Weekend reads: The American press gets its groove back
Weekend reads: The American press gets its groove back U.S. media is ‘dragging itself back from the brink.’ Will Canada follow? Bettmann/Getty Images A story broke last weekend that I’ve been waiting a long time to see. In an interview with Ben Smith at Semafor, Joe Kahn, the executive editor of The New York Times, effectively […]
The Biggest Risks of This Decade
The Biggest Risks of This Decade Since the 2020 pandemic, many things have changed, but nothing more than geopolitics. Wars and clashes that used to be largely national have given way to more regional conflicts that threaten to upend the current world order. The Ukraine War and Israel-Iran conflicts have the potential to lead to […]
Because We’re Still Not Sufficiently Indebted…
Because We’re Still Not Sufficiently Indebted… Now the government wants your home equity Zero Hedge just posted a long look at how the “buy now, pay later” (BNPL) industry now accounts for about $700 billion of largely unreported “phantom debt”. This, speculates ZH, is why the economy hasn’t fallen into recession. Now come the unintended consequences: […]
I’ve Got A Bad Feeling About This
I’ve Got A Bad Feeling About This Ideally, I would have written this on May 4th not 14th, but I am going to talk Star Wars. I was a fan in 1977, kept the flame alive when only battered VHS cassettes of the original trilogy existed, and was delighted to get prequels. Until the opening […]
Record Household Debt, Jump In Delinquencies Signal “Worsening Financial Distress”, Fed Warns
Record Household Debt, Jump In Delinquencies Signal “Worsening Financial Distress”, Fed Warns While the market remains focused on tomorrow’s CPI print, and to a lesser extent the April retail sales reports, which will both be released at 8:30am on May 15. we should flag another important report that doesn’t typically get a lot of attention: […]
Inflation is a Policy. Gold Does Not Reflect Monetary Destruction, Yet
Inflation is a Policy. Gold Does Not Reflect Monetary Destruction, Yet The money supply is rising again, and persistent inflation is not a surprise. Inflation occurs when the amount of currency increases significantly above private sector demand. For investors, the worst decision in this environment of monetary destruction is to invest in sovereign bonds and […]
Does Inflation Lead To Civilizational Collapse? A Look At Rome
Does Inflation Lead To Civilizational Collapse? A Look At Rome With the US national debt at $34 trillion and climbing, USD reserve status under pressure, inflation destroying standards of living, and the Biden administration stoking costly war on several fronts, perhaps it’s time for more thoughts on the Roman empire. In a Tuesday thread posted to […]
Tree rings reveal summer 2023 was the hottest in 2 millennia
Tree rings reveal summer 2023 was the hottest in 2 millennia Tree rings suggest the Northern Hemisphere summer of 2023 was the hottest in 2,000 years, with temperatures exceeding those of the coldest summer in the same period by 7 degrees Fahrenheit (3.9 Celsius). A photo taken in May 2024 shows three women shielding themselves […]
It’s Not Just Gold. This Is A Full-On Commodities Bull Market
It’s Not Just Gold. This Is A Full-On Commodities Bull Market Which, ironically, is a good reason to be careful First, uranium had a nice run. But it was all alone for a depressingly long time. That changed a couple of months ago as gold, silver, and copper began runs of their own: Nickel, meanwhile, […]
Yoyo Fed and Yoyo Markets
Yoyo Fed and Yoyo Markets Once again, we have a report saying consumer sentiment is collapsing just as economists were projecting it would be continuing to float along, and once again we have a report of rising inflation, just as the Fed decided to reduce its fight against inflation by slowing down QT to save the […]
Watch: Pelosi Dismantled In Real Time In Masterclass On Populism
Watch: Pelosi Dismantled In Real Time In Masterclass On Populism Two weeks ago, former House Speaker Nancy Pelosi was thoroughly savaged during a debate at Oxford University over the question of whether populism is a “threat to democracy.” In case you missed it, read on as it’s making the rounds. If you have 14 minutes to spare, […]
Orange Juice Prices Primed For Breakout After Forecast Warns Brazil Set For Worst Harvest In Decades
Orange Juice Prices Primed For Breakout After Forecast Warns Brazil Set For Worst Harvest In Decades Breakfast lovers are in for another jolt as orange juice prices surge to near-record levels. A new report released on Friday indicates that Brazil, the leading global exporter of OJ, is facing its worst harvest in over three decades. This alarming development […]
Musings on the Nature of Technology
Musings on the Nature of Technology A picture taken during the trip (own photo) Recently I have been on a four-day hiking trip, completing another 80 km (~50 mile) stretch of the 1171 km National Blue Trail running across my tiny country. This gave me plenty of time to tune into and ponder on the many […]
Even The Millionaires Are Fed Up
Even The Millionaires Are Fed Up How to speak to a hostile crowd Some weeks ago, I was sitting on stage with an economist from the World Trade Organisation and a banker from UBS. We were opening a small, one-day conference for the private aviation industry, and I had been invited to challenge the prevailing […]
