Dow 30,000 is “unsinkable,” just like the Titanic.A recent Barrons cover celebrating the euphoric inevitability of Dow 30,000 captured the mainstream zeitgeist perfectly: Corporate America is firing on all cylinders, the Federal Reserve’…
All of these guarantees and redundancies are as illusory as the “unsinkable” technologies of the Titanic.
Everyone expecting a quick resolution to the epidemic and a rapid return to pre-epidemic conditions would be well-served by looking beyond first-order effects.While the media naturally focuses on the immediate effects of the coronavirus epidemic, …
The potential for a consequential disruption in China’s supply chains appears to be vastly under-appreciated.Despite the current drop in stocks (less than 1.5% as this is written), there’s a tremendous reservoir of complacency about the econo…
Restrictions that allow a significant number of people to move about, either with official approval or unsanctioned “black market” activity, cannot stop the spread of contagious diseases.Like everyone else, I’ve been reading the mainstream media report…
The system that has so enriched the self-serving Davos Crowd is unraveling, and technocratic tweaks, carbon trading and philanthro-capitalism can’t fix what’s broken.Thought experiment: If the Martians teleported the entire Davos Crowd to a d…
When will the American wage-earner finally tire of the skims, scams, fraud and lies that are now the foundations of everyday life?You’d think that with the Federal Reserve printing trillions of dollars since 2008, we’d all be able to afford nice things…
In 2020, increasing monetary and fiscal stimulus will be the equivalent of spraying gasoline on a fire to extinguish it.Economically, the 11 years since the Global Financial Crisis of 2008-09 have been one relatively coherent era of modest growth,…
The worship of mortals as demi-gods and faith in Golden Idols triggers a turn in the karmic wheel as near-infinite hubris invites divine retribution.In case you missed it, here’s a snapshot of the most recent Federal Reserve board meeting:It’s certainl…
Parabolic moves end when the confidence that the parabolic move can’t end becomes the consensus.The consensus seems to be that the stock market is on its way to much higher levels, and soon. The near-term targets for the S&P 500 (SPX, currentl…
