Each morning, before plugging holes, fixing things, calling vets, answering text messages, delegating things, or yanking out dead raccoons, this mantra was a reminder to make something. Even the most time-sensitive items can usually wait 60 minutes, and by make something, I mean anything. You just need to feel like you’ve pushed a millimeter ahead in some creative direction. […]
…. where you begin when you talk about a trend is key. Plucking an arbitrary date out of thin air doesn’t necessarily tell us a whole lot. It’s important to begin at a key moment in history. When it comes to gold, that key moment is August 15, 1971. That’s the day that Richard Nixon […]
We now have QE to infinity and beyond. On March 23, the Federal Reserve announced it will purchase an “unlimited” amount of US Treasuries and mortgage-backed securities. —– …. the federal government was running near-record deficits even before the coronavirus crisis. That’s about to blow through the roof. The reality is this credit crisis started long before […]
On Wednesday, Congress finally agreed on a government stimulus/bailout plan to battle the economic impacts of coronavirus to the tune of over $2 trillion. Meanwhile, the Federal Reserve has committed to monetize the debt with QE to infinity. Practically speaking, we’re talking about trillions of dollars being injected into the US economy – all of those […]
Even if the Federal Reserve wasn’t set to allow inflation to run hot, it targets 2% inflation as a matter of policy. In simple terms, the central bank intentionally devalues your money by 2% every single year. …. inflation has pernicious effects on the average person, while tremendously benefiting the chosen few. Polleit calls inflation an […]
“It’s not what your vision is, it’s what your vision does.” Robert Fritz
What does your vision do? Does it give you energy? Does it make you smile? Does it get you up in the morning? When you’re tired, does it take you that extra mile? A vision should be judge by these criteria, the criteria of power and effectiveness. What does it do?
The boost to growth from more monetary easing and more deficit spending — naturally always transitory and the source of further misallocations of resources — will be ever more faint and short-lived.
Instead of igniting a new false boom, a progressively larger share of the policy stimulus will simply evaporate in the service of maintaining the accumulated misallocations, of avoiding a correction of artificially raised asset prices and of bloated balance sheets. As the manufactured recoveries get weaker, fiscal deficits get larger as a result of the […]