Of Two Minds

Basing one’s decisions on analogs from the past is entering a fool’s paradise of folly.Like addicts who cannot control their cravings, financial analysts cannot stop themselves from seeking some analog situation in the past which will clarify the swirl…

When reality and truth become the sworn enemies of society’s political and economic elites, the society is well and truly doomed.The risks of Covid-19 and the lockdown have been explored across a wide spectrum of opinion. To hit just a few of too …

Pulling the sleeve down to hide the tracks doesn’t mean the addict is cured.Just for a change of pace, can we be bluntly honest about the U.S. economy? It’s difficult to do because we’ve chosen to ignore all the realities, much like a family that …

Sadly, as markets stall and crash, participants will still be in their seats thinking all is well.The tragic 2009 crash of Air France Flight 447 offers an apt analogy for the global economy and central bank-driven false signals. Flight 4…

There is no way authorities can limit the coronavirus and restore global growth and debt expansion to December 2019 levels.Authorities around the world are between a rock and a hard place: they need policies that both limit the spread of the coron…

If you have any doubt that the Fed and Wall Street will some day be dismantled, please re-read this “real life in America” list again.The pandemic is a stark, brutal spotlight on income/wealth inequality in America: while the top 10% who own the m…