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Why Do Stocks Keep Rising?
This week has most certainly been a risk-off week. Money flowed into stocks and commodities and the speculative Bitcoin while flowing out of safe havens of gold and Treasuries. All the talk about AI, which I’m personally finding very interesting, is no doubt a momentum play that is sucking a lot of naive investors in toward the end of this long-term equity bull market. BofA’s Hartnett said, “It would be so ‘on-brand’ for stocks to melt-up into recession, suck them all in right before the hard landing.” If you are wondering why stocks continue to rise even as rates are…
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Picking Bullish Stocks in this Bear Market
Tavi Costa, Kevin Smith and Quinton Hennigh of Crescat Capital return. After many generations of Keynesian fiscal and monetary policies, the leading capitalist nation in the world is now heading toward bankruptcy. That’s not because capitalism has failed. Rather it’s because politicians following Keynesian economists have done their level best to destroy capitalism. While policy makers pass laws that generate votes from an uneducated populace and to line their own pockets, China and modern-day Russia have proven Marx wrong in thinking capitalism will inevitably give way to a socialist utopia. Both countries in some ways portray economic systems more akin…
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The Decline of America
Every day, more and more Americans are awakening to the reality that the institutions in control of this nation are failing them. From violence in the streets, inflation in our stores, increasing tyranny and censorship, and absolute buffoonery on public display in halls of political power. The ruling class is getting richer while most of us suffer, and new generations are becoming increasingly warped by the dangerous ideologies of the left. Recorded at The Depot Craft Brewery & Distillery in Reno, Nevada on May 20th, 2023. Powered by WPeMatico
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Was Japanese Colonialism the Engine of Later Prosperity for Korea and Taiwan? Probably Not
While Japan made some technological transfers to these places, prosperity came to them later, with the advent of free-market economies. Original Article: “Was Japanese Colonialism the Engine of Later Prosperity for Korea and Taiwan? Probably Not” Powered by WPeMatico
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The Men Who Made the West
Every day, more and more Americans are awakening to the reality that the institutions in control of this nation are failing them. From violence in the streets, inflation in our stores, increasing tyranny and censorship, and absolute buffoonery on public display in halls of political power. The ruling class is getting richer while most of us suffer, and new generations are becoming increasingly warped by the dangerous ideologies of the left. Recorded at The Depot Craft Brewery & Distillery in Reno, Nevada on May 20th, 2023. Powered by WPeMatico
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How Markets Self-Corrected during the 1819 and 1919–21 Recessions
As the first signs of an economic tempest move through the United States—an alarming increase in bank failures, a surge in unemployment claims, and a troubling decline in retail sales—we find ourselves perched on the edge of a deep recession. Staring into this uncertain abyss, the self-designated guardians of our financial destiny, the Federal Reserve and the US government, are confronted with a monumental task. When the recession bells toll, how will they respond? Will the Federal Reserve and the Biden administration again disrupt the market’s natural rhythms through rapid interest rate cuts, quantitative easing (QE), and excessive government spending?…
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Argentina Sleepwalks into Hyperinflation (Yet Again)
A century ago, Argentina was one of the world’s wealthiest nations and the Argentine peso rivaled the dollar. Today, Argentina is famous for periodic hyperinflation. Original Article: “Argentina Sleepwalks into Hyperinflation (Yet Again)” Powered by WPeMatico
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Are You Ready For a Real Recession?
In a real recession, what seemed safe and rock-solid melts into air. We haven’t had a real recession in forty years (1981-82) and so only those who were in the workforce back then have any experience of how far and how fast things we think are solid can unravel. What’s a real recession? In the most basic terms, a real recession is an organic, i.e. unmanipulated by central banks, completion of the credit cycle, also known as the business cycle. The credit / business cycle is intuitively easy to understand. When the cost of borrowing money (a.k.a. the cost of…
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Washington Has No Moral Authority to Ban Guns
Another mass shooting, another call for gun control. However, when it comes to mass killings, Washington sets the sorry example. Original Article: “Washington Has No Moral Authority to Ban Guns” Powered by WPeMatico
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Committing Domestic Violence against Men . . . Just for a Giggle
Decades ago, Hollywood brought the neglected problem of domestic violence (DV) against women into the spotlight and helped to create cultural change. Today, Hollywood encourages people to dismiss or laugh at the neglected problem of DV against men. After all, the man must have had it coming; either that or he is too weak to stand up for himself and so deserves no sympathy. A general acceptance of women beating up men continues. A recent episode (aired on April 20, 2023) of a new hit TV series on Netflix epitomizes this attitude. The Diplomat is a semicomedic political thriller about…
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Bitcoin’s Rise to Prominence on Full Display at this Year’s Miami Conference
Author: Frank Holmes Date Posted: May 19, 2023 Once a year, Miami becomes a global mecca for Bitcoin enthusiasts and advocates when the city hosts the titular conference celebrating the largest digital asset by market value. With a $525 billion market cap, Bitcoin is currently the world’s 12th biggest asset, just behind Tesla ($550 billion) and ahead of Visa ($485 billion). As I told the audience during my keynote speech, it’s remarkable that Bitcoin has managed to do this, as it has no CEO, no marketing budget and no board of directors. Although attendance was down this year compared…
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Stockman’s: The Folly Of The Money-Printers
There is no great mystery as to where today’s fiscal mayhem, bubble-ridden financial markets, stagflationary main street economy and egregious redistribution of wealth to the top of the economic ladder came from. Namely, the Eccles Building and its fellow traveling central banks around the planet. As recently as the year 2000, the combined balance sheets of the world’s central banks stood at approximately $3 trillion, which represented 8% of the world’s $35 trillion of GDP. That ratio was only slightly higher than the 3-5% ratio that had prevailed prior to the 1980s. By 2021, however, global GDP had expanded by…
