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Author: Charles Hugh Smith

Of Two Minds

We Can Discern Cycles and Waves, But Not the Outcomes

Which brings us to the present and the cycles and waves that have yet to reach…

Charles Hugh SmithJanuary 6, 2026January 13, 2026
Of Two Minds

Channeling Napoleon and Chou En-Lai

Where things will stand in three years in unknown. A little humility might serve us well,…

Charles Hugh SmithJanuary 4, 2026January 5, 2026
Of Two Minds

Pretense, Staging, Expediency: the "Solutions" That Implode the Whole Shebang

Slapdash quick fixes and policies share one characteristic: they eventually implode the whole shebang.

Charles Hugh SmithJanuary 1, 2026January 5, 2026
Of Two Minds

Everyone’s a Lender Now: Shadow Banking USA

How much private credit has been put in place but isn't in the official credit total…

Charles Hugh SmithDecember 29, 2025December 31, 2025
Of Two Minds

The Good News Is People Are Realizing We’re On Our Own

We no longer care who's behind the curtain because we're in charge of our own lives…

Charles Hugh SmithDecember 26, 2025December 31, 2025
Of Two Minds

My Christmas Letter

As I said, having a sense of humor will get you in trouble nowadays, and this…

Charles Hugh SmithDecember 23, 2025December 31, 2025

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