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Going on a over a decade faux recovery, we are now in a scenario where central banks are essentially trapped at or near the zero bound. Market signalling is dead, fundamentals don’t matter. Markets are remaining irrational longer than anybody who seeks to eschew the “New Economy” Kool-Aid can stay solvent.
What does the contrarian minded, historically aware, rational value/Austrian minded investor do? Find out here.
The other side of interest rate suppression and financial repression is 10+ years of Cantillon Effects, where new money benefits those who receive it first, leading to an Everything Bubble where financialization and consolidation squeezes out real businesses and the middle class.
It can’t last forever and after it ends it’ll be the real businesses with real models who survive the fallout. Here we talk about being one of them.
It’s hard to imagine that socialism, “The Failed Idea That Never Dies”, is back with a vengeance and enjoying a newfound vogue among the mainstream press and even the political elite.
Make no mistake, this movement has traction and it’s gaining momentum. As always, flame out and crash in a heap ignominious failure. Until it does, things will get worse before they get better, so we’ll look at ways to preserve wealth and property through this approaching dark era.
Never Go Full Rhino
Last night I made the mistake of putting Ben Hunt's The Long Now Part 2 on a tablet and brought it to bed to read. My kid had an early morning soccer practice at school today and the plan was I'd read this before turning in early. By the end of it I couldn't sleep. It articulated something I've been grappling with for so long, so clearly and so lucidly that it got my min [...]
Socialism isn’t a failure. It’s a fraud.
"Want to be rich? Start a good business. Want to be really rich? Become a socialist." -- Unknown. There is no shortage of empirical data that socialism fails every time it has been tried, and leaves the largest body count in it’s wake. Dr. Kristian Niemtietz’s “Socialism: The Failed Idea that Never Dies” documents the three distinct stages socialism goes through [...]
First Bitcoin, then Libra: Why Nation States are Petrified
A few months ago I was on the Lite Show (Litecoin) podcast, we got to talking about Facebook’s forthcoming crypto currency, which hadn’t been named yet. I mused then that it would totally suck for the entire crypto-currency space to have come this far with Bitcoin, et al only to have Facebook swoop in and take all the marbles. (In marketing parlance this maneuver is cal [...]
The Redemption of Jeff Macke
A couple days ago former CNBC pundit Jeff Macke appeared on the QuothTheRaven podcast. It brought to mind his ignominious end at CNBC which was punctuated, or perhaps precipitated by a bizarre on camera rant in May 2009. I blogged about it at the time, which is why I'm blogging about his QTR appearance now. Chris Irons of course asked Macke to comment on that incident, [...]