ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION
July 6, 2021 | Power, Greed and Status Are Corrupting the U.S. Elite
YOUGHAL, IRELAND – The Sunday papers raised the alarm about “Global Climate Change.” Apparently, people are sweltering almost everywhere – from Dubai to Canada. The newspapers showed frightening maps, with most of the Northern Hemisphere – like Hell itself – colored bright red. Some columnists claimed that large parts of the Earth could soon be […]
June 30, 2021 | The Bubble Epoch Gets Worse
YOUGHAL IRELAND – Yes, it’s the age of miracles. The Bubble Epoch. The silly season. And it just gets sillier and sillier. Christine Lagarde, who holds the top spot at the European Central Bank (ECB), announced that she’s going to continue pumping up the money supply by 17 billion euros per week. She says it is […]
June 24, 2021 | What’s Happening With the Real Estate Market and Inflation
YOUGHAL, IRELAND – In the news yesterday was a report about a major real estate purchase. Blackstone Group bought Home Partners of America and thus acquired its 17,000 rental units. We don’t know the particulars of the deal. But the average monthly rent for a three-bedroom apartment, for example, is about $1,200. That gives […]
June 21, 2021 | The Feds’ Five-Year Economic Forecast
YOUGHAL, IRELAND – Midsummer has arrived! Yesterday was the longest day of the year in the Northern Hemisphere. The farther north you are, the longer the day. Here, it was light until almost 11 p.m. We went over to the little seaside town of Ardmore, where the church has reopened for the summer season. “It’s […]
June 18, 2021 | No Return to “Normal”
YOUGHAL, IRELAND – Our subject today has a little of everything – ambition… betrayal… idealism… cynicism… democracy… revolution… corruption… you name it! But today’s setting is not the USA. Still, we will turn to the U.S. media for a big surprise, before taking up our parable. Here’s a rare event… where the reporter got the […]
June 16, 2021 | America’s Middle Class Will Pay the Price
YOUGHAL, IRELAND – We’re in a rush this morning. No time to write a short message. We’ll have to send you a long one. First, here’s Business Insider with a news update: Michael Burry said markets were in a bubble of unprecedented scale. The “Big Short” investor tweeted his dire warning after a 10-week break from Twitter. […]
June 15, 2021 | Inflation Worries Continue
YOUGHAL, IRELAND – That was fast! Already… the inflation threat is over. Bloomberg tells us more: With investors anxious to hear the Federal Reserve’s latest take on inflation after last week’s hot reading, certain corners of the market are already simmering down. Take lumber, one of the biggest gainers among commodities in the past year […]
June 14, 2021 | World Economic Leaders Promote “More Spending”
Americans are getting stronger. Twenty years ago, it took two people to carry ten dollars’ worth of groceries. Today, a five-year-old can do it. – A Henny Youngman quote sent by a dear reader YOUGHAL, IRELAND – Newsflash from the G7 summit in Cornwall! Here’s the Financial Times: Biden wins backing from G7 leaders to “carry […]
June 11, 2021 | The Federal Reserve Has an Ulterior Motive
YOUGHAL, IRELAND – Well… yesterday we got the news. If we have $100,000 in cash today… at the present rate of inflation, it will be worth only $95,000 by this time next year. Keep it up for 14 years, and half your money will be wiped out. Barron’s has the details: On a year-over-year basis, […]
June 10, 2021 | The Greatest Failure of American Macroeconomic Policy
Or like stout Cortez when with eagle eyes He stared at the Pacific – and all his men Look’d at each other with a wild surmise – Silent, upon a peak in Darien. – On First Looking Into Chapman’s Homer, by John Keats YOUGHAL, IRELAND – We ended yesterday’s Diary with a question: Who will tame inflation this time? You […]
June 9, 2021 | America’s Inflation Explained
YOUGHAL, IRELAND – “Pity the American small business owner… ” writes Dear Reader H.R.E.: “I’m dealing with it as a landlord. Can’t get parts and materials and can’t get labor. Both cost more than ever. Plumbers at $300 per hour. AC guys closer to $500 per.” Small Business Optimism Drops on Labor Shortage and Inflation […]
June 8, 2021 | Consumer Inflation: Why Prices Rise
YOUGHAL, IRELAND – In matters of technology and material progress, we discover new things all the time. But in love, central banking, and the rest of life… we discover the same things over and over. And what Americans are likely to re-discover in the months ahead is the Quantity Theory of Money, or QTM. Quantity […]
June 4, 2021 | The Feds’ Bubble Will Pop
I picked a hell of a day to quit drinkin’ – Russell Casse in Independence Day YOUGHAL, IRELAND – Bubbles, bubbles, bubbles. Today, we look at another institution that has been zombified by the feds – the stock market. The stock market is supposed to allow investors to exchange shares in profit-making, wealth-increasing, goods-and-services-producing businesses. Nobody […]