Monthly Archives: June 2025
How to Make a Government Disappear Completely
When we first began visiting Argentina, back in 2010, it was an certified economic basket case, well on the road to Caracas… if not Harare. Moreover, its political landscape was essentially one giant crime scene, such that you could have drawn a chalk outline around the entire barrio of Congreso and nary caught a pure heart or clean conscience in the undue process. Continue reading
Be Careful What You Wish For
If foreign investors reduce their holdings of U.S. Treasuries, then who will pick up the slack? If foreign central banks are not buying Treasuries, how will the government finance its debt? Continue reading
LALA Land is Coming to a Town Near You
The delusion of California Dreamin’ over the years has most faithfully emanated from Los Angeles – LALA Land. During the pre-World War II days, before the mania to splatter every square foot of its surface with concrete took hold of the local spirits, the place was already a magnet for eccentrics, pyromaniacs, and hucksters galore. Continue reading
The CAPE Crusader Unveils a Bubble
When you see a CAPE of 37.05, you’re looking at a market that is more than twice as expensive as its long-term average. This isn’t a slight overpricing. Rather, it’s an extreme overvaluation. This is, in fact, a bubble. Continue reading
