Sudden Debt

 President Biden has proposed a new 20% “billionaire tax” for his 2023 budget.  Here’s a dumb question: given that (a) it targets the uber r...

  Conventional wisdom: The West has shown remarkable unity in imposing sanctions against Russia.   They will hurt the invader so much that i...

“This battle will not be won in days or months. We need to steel ourselves for a long fight ahead." US President Biden speaking in Pola...

 One of the better predictors of recessions is the yield curve, especially when it inverts and/or flattens out very fast (ie when short term...

 Inflation at the highest in 40 years. Government debt at the highest ever.  Interest rates jumping.  What could possibly go wrong??? Put an...

 Russia's invasion of Ukraine may be explained in many tactical ways but the bottom line is this: Russia and China have decided that now...

 A gas attack was the most fearsome weapon in the trenches of World War I.  A century later in another European war, it has taken a whole ne...

 Russia’s invasion of Ukraine is the first salvo of a New Cold War. It is Russia’s direct challenge against the global preeminence of the US...

 My current working model for financial markets is this: The flood of new money since 2008 has reached unprecedented highs during the pandem...

 Just one chart in re the post’s title… Milton Friedman is shaking his head.