Of Two Minds

And so we’ve reached the precarious state of disunion in which the only thing the warring elites can agree upon is that the Federal Reserve should rescue their private wealth, regardless of cost or consequences.America’s divides are proliferating and d…

Since superfluous demand was the core driver of most consumer spending, and that demand is in free-fall, what’s the upside of re-opening?The mainstream view assumes everyone will be gripped by an absolutely rabid desire to return to their pre…

Everything, including a rational, connected-to-reality, effective financial system, is on back-order and unlikely to ship any time soon.While the stock market euphorically front-runs the Fed and a V-shaped recovery, the reality is the crash has only ju…

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 …