Why You Should Own Some Physical Gold
Warren Buffett, as usual, was right: gold is not an investment. It yields nothing and never grows. Gold, instead, is money: something people use to (1) exchange what they have for what they want, (2) store their purchasing power, and (3) know precisely how much they...
Why we must speak out against wokeness and how
If you are like me, you are sick of the smug, ignorant, destructive drivel from the “Woke” crowd. “Wokeness” connotes exquisite sensitivity to racial or social discrimination and injustice, as defined by the beholder. Niggling questions about what constitutes...
Is TINA faithful?
By any measure, stock prices relative to any rational measure of economic value are at record levels. https://seekingalpha.com/article/4404673-is-this-the-biggest-financial-bubble-ever-hell-yes-it-is The main driver of what appears to be an epochal bubble in the...
Is the “Sky is Falling” Crowd Wrong?
I have been a card carrying member of the “sky is falling” crowd for years. And I have been wrong. Stock prices are at their all-time highs. Some stocks are selling at multiples of sales that historically have been applied to earnings. Why was I wrong and what are the...
What the rise of Trump means and what’s next
Intense dislike of Trump is causing people to miss something big. Trump’s rise and popularity is a symptom of a trend, not a one-time aberration. A bottom-up reaction is emerging in Europe and America against a force that has been ascendant under many guises for over...
Single payer health care: a quack cure
The American left, which now dominates the Democratic Party, thinks it has a sure-fire winner in its advocacy of a single-payer system for America. Under single-payer, government becomes the sole source of reimbursement for health care services. Federal bureaucrats...
Socialism popular failure,capitalism unpopular success
Socialism is a failure - but popular. Capitalism is a success -- but unpopular. Why? Socialism always and everywhere eventually has ended up creating economic stagnation and loss of freedom. The more aggressively it has been tried — think the old Soviet Union and Mao...
How to think about capitalism
James Lee Burke in his novel, Robicheaux, reminded me of something none of us should ever forget, “People are what they do, not what they think, not what they say.” The same is true for government policies and economic systems. What counts is how they perform, not how...
The Federal Reserve: a nemesis, not a hero
John Maynard Keynes, whose wrong-headed ideas dominate economic policy making almost everywhere, did get this right: "Lenin is said to have declared that the best way to destroy the Capitalistic System was to debauch the currency... Lenin was certainly right. There is...
How I invest my own money.
In this post I argue that you should pay attention to someone only if he personally gains or loses, depending on whether what he says proves true, and in this post I opine that there is a serious economic train wreck in our future. If I am not acting according to my...
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