12/9/21
I've been thinking about...well about all sorts of things, but yesterday it crossed my mind that when we think of money we think of a thing. And, of course, money…
I've been thinking about...well about all sorts of things, but yesterday it crossed my mind that when we think of money we think of a thing. And, of course, money…
I wonder how this ends? Maybe the debt ceiling doesn't get raised and that is finally the trigger that pops the stock bubble. Then I wonder who the blame falls…
I've been thinking about the extended unemployment and other benefits. Partly what caused this contemplation was a conversation with a neighbor who recently returned from the Philippines (use your almost…
It was such a simple idea, I don't know why I feel that it was revelatory for me. Furthermore, I feel as though I must have read it somewhere, but…
Been reading Hussman's latest essay. So wealth comes from one of two activities. Either you do something useful, make something, teach something, invent something, perform some sort of useful activity…
Reread my post from yesterday and started to think that I sounded like a person arguing for a planned economy, but that's not at all what I mean. The craziness…
Is everything just asset allocation? And I don't mean portfolio management, I mean all of society. Like anyone who is even vaguely interested in these topics, I've been daydreaming about…
I don't understand this, but let me see if i can talk my way through it. First there was money, mostly silver but sometimes gold, shells, tobacco, camels, humans, and…
Let me see if i understand all the parts. The Fed has to keep going with QE/money printing whatever you want to call it because reversing course would be catastrophic…
What the hell is going on? Plywood headed toward a $100 a sheet, steel prices tripling, houses prices completely beyond any reasonable attachment to wages, the stock market on a…
Drove by an old powerhouse the other day. It had been converted into a retail mall because it was a good sized powerhouse despite the relatively small size of the…
I remember reading over the years, various places, but enough so that I came to believe it, that inflation couldn't really get going until there was wage inflation, and globalization,…
I was just reading about Substack and how it pays its star writers a base "salary" while thousands of other hopeful writers contribute free content to the site in the…
Seems to me that most economic theory is based on some idea scarcity and deprivation. People work, in the simplest analysis, because they want to eat. There might not be…
Here's a novel idea, or rather, a novel way of looking at two problems. First is the problem of what what call capitalism, which has clearly broken down in some…
Maybe the whole explanation for every asset crazily mispriced relative to future possible cash flows is reserve currency. Money is free, at least the richer you are the cheaper it…
This history of financial markets is one of boom and bust. So be it. Everyone who reads a little about markets quickly learns this. What is different this time is…
It all makes sense to me now. Leonard Cohen was right. Everybody knows. It's a rigged game. I've been puzzling about how it is possible that any human being intelligent…
Had an interesting talk with a friend the other day. His take is that all of the talk about companies, earnings, rotation, the usual bullshit, which seems, on any logical…
I guess it is becoming clear that the governments around the world will support the equity markets with liquidity and eventually actually buying shares. On the consumer side the government…