Commentary In February, we started writing and talking about stagflation. Stagflation is the rare combination of high inflation combined with negative economic growth. We expressed the point of view in this paper that inflation was understated by approximately 100 percent and was actually in the mid-teens. Further, we noted that once you adjusted fourth-quarter gross…
US Stimulus Damage Done to the Economy
Commentary In the early spring of 2020, the United States began locking down citizens and businesses—such as restaurants, nightclubs, hairdressers, movies, and gyms—killing off entire sectors. As economic activity ground to a near halt, the government applied band-aid solutions in the form of economic stimulus that would temporarily and partially mitigate the negative impact on…
PostCOVID America: Racked by Inflation, Americans Pay Too Much for Drugs
Commentary As inflation rates soar toward 8 percent in the United States, many are feeling the squeeze and will be looking to save money, but one place where price inflation is nothing new in America is drugs. Pharmaceuticals made in the United States climbed in price by six times as much as everything else in a…
The Failure of Central Banking: Market Bailouts
Commentary On Oct. 19, 1987, the U.S. stock markets collapsed. They had enjoyed a stellar run supported by the bull market, which started in August 1982. The ‘Roaring Eighties,’ that is, the economic boom of the 1980s, drove equity markets to new records. But in October, indications of a slowing economy, rising interest rates, and stock…
Here Comes Dollar, the Global Wrecking Ball
Commentary Last Friday, Japanese broadcaster TBS reported Japan’s Finance Minister Shunichi Suzuki had discussed intervention in foreign currency markets on behalf of a beleaguered yen with U.S. Treasury Secretary Janet Yellen. In recent weeks, the Asian currency has plummeted against the U.S. dollar, falling to lows not seen in two decades. According to mainstream media…
The CNN That Was
Commentary The demise of CNN+ after less than a month has led to unfettered gloating on the right. It might be more appropriate for conservatives to reflect on the debt they owe to what actually used to be the “Most Trusted Name in News,” long before that now-dubious slogan was coined. CNN’s new streaming service…
Plagiarizing The Billionaires: How to Invest Your Way Around Inflation
Commentary “The finance gerontocracy that runs the country through whatever silly virtue-signaling-slash-hate-factory term like ESG [environmental, social, and governance] they have versus what I would call—what we have to think of as a revolutionary youth movement…. When they choose not to allocate to Bitcoin, that is a deeply political choice, and we need to be…
Here’s Why 2,000 Investment Advisers in Miami Were ‘Terrified’
Commentary Watching a segment on the business network CNBC the week before Easter, I was struck by what the late baseball great Yogi Berra called “déjà vu all over again.” For what that network’s anchor Bob Pisani was describing was a crisis of confidence—but then an epiphany in my own case—yours truly experienced over 40…
First Quarter GDP Data: Confusion and Serious Economic Problems
Commentary First-quarter GDP (gross domestic product) numbers are among the most confusing numbers the government has ever produced. The only two clear conclusions we can draw are that inflation continues to soar and the economy is in serious trouble. Let’s first clear up some confusion. The numbers show real growth declining in the first quarter…
China Lockdown Cuts Supplies
April 30, 2022
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News Analysis China’s COVID lockdowns are grinding the country’s manufacturing to a halt and alarming global business leaders who depend on the country for parts and manufacturing. The CEO of Mercedes Benz, Ola Kallenius, told Bloomberg on April 29 that “new lockdowns in China, in Shanghai but also in other places in China affects the business…
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