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Central Planners At Work
Central Planners At Work Consumption without Production “Every man is a consumer, and ought to be a producer”, observed 19th century philosopher Ralph Waldo Emerson. “He is by constitution expensive, and needs to be rich.” Ralph Waldo Emerson (May 25, 1803 – April 27, 1882), who inter alia opined on consumers and the need to not only consume, but also […]
On Inflation (& How It’s Not What Happens Next)
On Inflation (& How It’s Not What Happens Next) Everyone is convinced the dollar is going to inflate because more dollars are entering the system. But are they really? That is the question that sparked a succinct Twitter thread by Travis K (@ColoradoTravis) explaining why inflation is not what happens next (emphasis ours): Let’s take a […]
Will Skilled Hands-On Labor Finally Become More Valuable?
Will Skilled Hands-On Labor Finally Become More Valuable? The sands beneath what’s scarce and what’s over-abundant are shifting. On a recent visit to the welding shop where my niece’s husband works, I asked him if they had enough welders for their workload. His answer surprised me: “If you asked every welding shop in the country if […]
Why Martians Are Wrong About Gold
Why Martians Are Wrong About Gold A martian — Warren Buffett once razzed — would marvel that earthlings dig gold from the ground… only to rebury it in vaults. That is, the business is idiotic… pointless… and wasteful. At first blush, our space man is justly puzzled. Why would humans shovel up hunks of metal […]
Weekly Commentary: Moral Hazard Quagmire
Weekly Commentary: Moral Hazard Quagmire The Nasdaq100 jumped another 3.5% this week, increasing 2020 gains to 32.3%. Amazon gained 4.3% during the week, boosting y-t-d gains to 77.8% – and market capitalization to $1.626 TN. Apple surged 8.2% this week, increasing 2020 gains to 69.4%. Apple’s market capitalization ended the week at a world-beating $2.127 […]
They’ve Done It Again
They’ve Done It Again The stars are back in their courses. The angels are back in the heavens. And the Perfections are back within sight… For merely 148 trading days after bottoming… the S&P returned to record heights today. The index closed the day at 3,389 — eclipsing its February 19 height of 3,386. Thus […]
Blain’s Morning Porridge – 21st August 2020 – John Law’s MMT revisited
Blain’s Morning Porridge – 21st August 2020 – John Law’s MMT revisited “Earlier today apparently a woman rang the BBC and said she had heard that there was a hurricane on the way. Well if you are watching, don’t worry, there isn’t.” It’s blowing a full hooley out there this morning, which is very bad news […]
Saudi Arabia Refuses To Learn From Its Two Failed Oil Price Wars
Saudi Arabia Refuses To Learn From Its Two Failed Oil Price Wars Having failed to achieve the slightest semblance of success in the two oil price wars that it started – the first running from 2014 to 2016, and the second running from the beginning of March to effectively the end of April this year […]
Whatever Happened to the Green New Deal?
Whatever Happened to the Green New Deal? The Green New Deal was the signature issue of the Green Party in the 2010s. Howie Hawkins was the first US candidate to campaign for a Green New Deal in 2010 running for New York governor. The Green Party’s presidential candidate in 2012 and 2016, Jill Stein, made […]
Panic in Real Estate
Panic in Real Estate COMMENT: I live in central West Texas, I am passing on to you the fact that there is a “rush” of sales in rural property’s. Houses with small amounts of land attached are “flying off of the shelves” so to speak. This is occurring throughout all of West Texas and in the […]
As the Bubble Slowly Pops, the Economic Chain Reaction Is Now in Progress
As the Bubble Slowly Pops, the Economic Chain Reaction Is Now in Progress Much has been written about the economic consequences of covid-19, yet, just as in many of the analyses of the Great Depression and the 2008 crisis, the years of accumulating debt preceding the event do not attract the attention they deserve. Covid-19—or […]
Got Wood? Lumber Prices Explode To Record Highs Amid “Supply Chain Screw Ups”
Got Wood? Lumber Prices Explode To Record Highs Amid “Supply Chain Screw Ups” When builders go to the lumberyard, they expect two-by-fours in ample supply. As Galvnews.com reports, it’s like expecting to find milk at the supermarket. But, in recent months, something has changed… dramatically… Since the lows in early April, the price of Lumber […]
Gold and Free Banking Versus Central Banks
GOLD AND FREE BANKING VERSUS CENTRAL BANKING In spite of the officially declared “independence” of the Federal Reserve from the immediate political control of either Congress or the White House, America’s central bank is, nonetheless, a branch of the U.S. government that is responsible for setting monetary policy, overseeing a variety of banking regulations, and […]
An unexpected systemic crisis is for sure
An unexpected systemic crisis is for sure Downturns in bank credit expansion always lead to systemic problems. We are on the edge of such a downturn, which thanks to everyone’s focus on the coronavirus, is unexpected. We can now identify 23 March as the date when markets stopped worrying about deflation and realised that monetary […]
