Tag Archives: collapse
“I can calculate the motion of heavenly bodies, but not the madness of people.” The remark was made by Sir Isaac Newton in 1720 upon losing £20,000 – a substantial sum at the time – speculating on South Sea Company stock. The madness of people, as Newton painfully found, is incalculable. It defies logic. Runs on emotion. And is best observed from a safe distance. Continue reading
The United States and Western Europe are playing checkers. Russia and China are playing chess. This mismatch is grossly evidenced by the recent salvos in the financial warfare being waged between NATO allies and the burgeoning Sino-Russian alliance.
President Biden and his cohorts in Congress and at the Federal Reserve have delivered an early Christmas present. They’ve given Americans the gift of raging price inflation. The cost of just about everything has gone through the roof. Continue reading
The U.S. government’s 2021 fiscal year came and went like Dow 36,000. With respect to the latter, authors James Glassman and Kevin Hassett were only off by 17 years in their 1999 forecast of Dow 36,000 by 2005. At this point, the attainment of their prediction is a giant letdown. With respect to the former, we have a question: Does President Biden have any idea that the government he pretends to oversee is skirting the edge of insolvency? Continue reading