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The late Kurt Richebächer addressed the subject of inflation and deflation in a 2006 newsletter. Among others, he quoted J.M. Keynes who in his A Treatise on Money, first published in 1930, commented on a table about bank credit, the wholesale price index and stock prices thereof as follows: “Anyone who looked only at the index of prices would see…
For a change, Fox Business recently reported about an interesting legal case under the title Dancers sue strip club claim it ‘forced a socialist economic system’ by forcing them to share tips (April 10, 2024). Not that this case is terribly relevant for us, nevertheless it is still interesting as an experiment as to how far we do or don’t lean to…
In August 2022, Henry Kaufman (the original Dr. Doom) wrote an article and gave an interview for the Financial Times, which was published under the title: Shock the market’: Wall Street’s original ‘Dr Doom’ tells Fed to toughen up. At the time, Kaufman feared that the Fed under Jay Powell was failing to combat inflation with the resolve displayed…
The British composer and conductor H. T. Leslie (1822 – 1896) wrote that, “The game of life is not so much in holding a good hand as playing a poor hand well.” This is how investors in financial assets should feel about the current market conditions. At present, most assets are relatively expensive. With a few exceptions (gold miners, oil stocks…
At the 2024 WEF in Davos about Rebuilding Trust (who on earth would ever trust the Davos crowd?), the newly elected President of Argentina Javier delivered a speech, which must have made the majority of the attending Elite rather uncomfortable because of its simplicity and clear libertarian message: capitalism over the last 200 years lifted the…
Investor’s Business Daily recently reported that just four investors made $491 Billion On 'Magnificent 7' Stocks This Year. Referring to the Magnificent 7, Matt Kranz at Investor’s Business Daily (IBD), notes that, “the top owners of these seven winning stocks, including Mark Zuckerberg at Meta Platforms, Jeff Bezos at Amazon.com, Elon Musk at…
How meaningful the election of Javier Milei’s as president of Argentina will be remains to be seen but noteworthy is that a number of important commentators took up the subject of Argentina’s economic decline over the last 100 years or so with great enthusiasm. And consider the larger effect on trade and domestic economic growth during this…
“Human beings are born with different capacities. If they are free, they are not equal. And if they are equal, they are not free.” Aleksandr Solzhenitsyn “Our Enemy, the Government,” is the title of an article by Ramesh Thakur (Thakur, is a former UN Assistant Secretary-General), which I read with delight since it agrees with my deep belief that…
Last month, we discussed among others how important the BRICS meeting in South Africa had been. More recently, I was reflecting about the importance of the BRICS meeting in contrast to the just completed UN General Assembly meeting in New York City, where when the Green/Communist German Chancellor Olaf Scholz addressed the assembly, hardly anyone…
A recent Bloomberg Opinion piece by Matthew Brooker caught my attention. Its title read: Women's Football Is Just Starting to Roar. According to Brooker, “Australia’s semi-final defeat was the country’s most-watched television show on record, with 11.15 million viewers at its peak" - astonishing in a nation where rugby union, rugby league,…
Marc Faber