July 2011 Monthly Archive

We are toast! China is going to kick out butts.

It was kind of ironic, from the standpoint of my simple life, that my neighbor stopped by yesterday to give me some junk mail addressed to me, but put in his box. Read more

Look up dysfunctional in the dictionary and you’ll see a picture of China

One of our many loyal readers sent me a brief comment the other day (his longer comments are usually very entertaining.) He said, regarding Secretary of State Hillary Clinton being over in China to quell their worst fears of a US default Read more

Stanley is right! Let them default while we eat cake!

Envoy Hillary was launched on Asian markets yesterday to calm fears about Treasury bond default because her boss doesn’t want to stop spending like a drunken sailor. Spending is power, thus why we get all the obfuscation, double-dealing, and outright lies on a regular basis from our pols. Read more

Now back to important things – feeling bad for the banks …

Did you hear? They’ve agreed to a robust bailout plan that increases the scope and effectiveness of the EFSF. It seems expected to succeed in resolving the crisis and stemming potential contagion. Read more

Summon the political will.

It is the nature of market analysis and advisory newsletters to make predictions. I am going to make a prediction now … Read more

Dismal Science is an understatement: Why Irving Fischer had it right all along!

Jim Grant, editor of Grant’s Interest Rate Observer, is an articulate and brilliant person. His ability to sum up economic events of the day in his entertaining and succinct manner is proof of his depth. Read more

QE is like … a Helicopter baby, baby … I wanna ride.

Sorry, but the last two days of rising QE3 potential and consequent price action just made me think of a rollercoaster. And from there I found myself singing the Red Hot Chili Peppers’ version of ‘Love Rollercoaster.’ (Truly funky readers may prefer the original from The Ohio Players.) Read more

More nanny-state happy juice? Seriously, Ben?

The fact of the matter is because the majority of people look to the government as their surrogate mommy and daddy (which explains the dismal political class we are stuck with as nearly half the US population is on some form of welfare), we will never get a real test of an Austrian School tough love fix versus the warmed over Keynesian stimulus gruel we are fed Read more

Silver is not quite as precious as gold or Jimmy Rogers’ bow-tie.

Mr. Rogers makes commodities sound so easy. Even when he’s not wearing his bow-tie, Jimmy Rogers has it nailed – commodities are in a secular bull market. Read more

Can’t we all just get along?

I read with interest Mr. George Soros’ plan B for Europe, as succinctly laid out in and editorial the Financial Times this morning. In case the EU leaders didn’t know it, Mr. Soros is here to let them know it’s time for the eurozone to be “ringfenced,” i.e. insure the core remains stable despite the fact it may be too late for some countries on the periphery. Read more

The US needs to learn: forget Europe.

When I saw a headline after Jean Claude Trichet spoke after the ECB monetary policy decision yesterday, I had to scratch my head and check my calendar to make sure the year wasn’t 1984. Read more

How do you say “tick … tick … tick …” in Chinese?

My old boss, Ross Perot (yes, it’s true), used to say that giant sucking sound you hear is the sound of jobs leaving the country thanks to NAFTA. Despite all the criticism from the free-market mantra clowns on the right, Perot was indeed proved correct, regardless of what you may think of the man. Read more

INTERNAL STUDY: gold bugs actually cannot see the future.

I apologize, but when I think of gold bugs I have trouble not thinking of Mike Meyer’s performance as Goldmember in the third installment of the Austin Powers movies. Read more