Monthly Archives: October 2023
Death to Savers
The Federal Reserve artificially suppressed interest rates from roughly 2008 to 2022. It did so by creating $8 trillion of credit out of thin air to buy Treasuries and mortgage-backed securities. This pushed stock, bond, and real estate markets well beyond what the underlying economy could support. Falsified interest rates also birthed wild objects of speculation. Continue reading
Everything’s Spooktacular
October wouldn’t be complete without a thrilling spooktacular surprise. The October 7 sneak attack by Hamas on Israel and Israel’s subsequent official declaration of war certainly fits the bill. But what else? Continue reading
How the Dianne Feinstein Effect Wrecked the Future
Attempting to spend a nation to prosperity using borrowed money at everyday low rates courtesy of the Fed is not without consequences. In the short run, an illusion of wealth can be erected. In the long run, that illusion slips into decay and disrepair. Rising interest rates expedite the failure of fiscal recklessness. Continue reading
Coming Down from Cloud Cuckoo Land
In between the birth and death of capital there’s a wide-ranging succession. The lifecycle of capital generally follows that it is imagined, produced, consumed, and destroyed. How exactly this all takes place involves varying and infinite undulations. Continue reading
