Politics is usually best ignored. But there are times when, like a rusty gas tank at an abandoned garage, it seeps into the groundwater and poisons the earth. One of those times, we believe, is…
Last month, the feds borrowed $214 billion. They spent $433 billion, of which $32 billion was on interest on the national debt. In other words, half of what they spent was borrowed.
‘The trees are in their autumn beauty, The woodland paths are dry, Under the October twilight the water Mirrors a still sky; Upon the brimming water among the stones Are nine-and-fifty swans. ‘The nineteenth autumn has come upon me Since I first made my count; I saw, before I had well finished, All suddenly mount … Read More
We turned on the news this morning… What we discovered was a very delighted young man, explaining why the economy is running red-hot. The number of new job offers, he said, is greater than the number of new job applicants. This hasn’t happened for 10 years. The number of people quitting jobs is also going … Read More
We’re on the ferry that will take us to Ireland. It is foggy outside. We can see nothing. This is just the beginning of a long trip that will take us to South America (where we get to see a financial crisis underway in Argentina)…Germany (where we hope to find out more about how Germans … Read More
Yesterday, on our way to the Cherbourg ferry, we stopped in at a local farm fair in Normandy. On display were the best cows in the region, along with a demonstration of old farming equipment. A batteuse is a threshing machine. Invented by a Scotsman in the 18th century, and improved and widely employed in the 19th, … Read More
We promised to start the week with a bang! You’ll recall that Fed policy always consists of the same three mistakes… 1) Keeping interest rates too low for too long, resulting in too much debt; 2) Raising interest rates to try to gently deflate the debt bubble; and 3) Cutting rates in a panic when stocks … Read More
An anonymous editorial in The New York Times claims there is ‘resistance’ in the White House to an ‘amoral’ president. That is, there are, apparently, people who are trying to block the president from doing…
Now, a new book by journalist Bob Woodward tells us that the White House chief of staff referred to America’s executive branch as ‘crazytown’.
The last days of summer are dwindling down…to a precious few. It is the best time of year here in France. The sun has cooled. The days are shorter; the nights are still and clear. The leaves turn yellow and drift to the ground, a few at first…and then, many. Stirred to life by the … Read More
So passeth the last days of summer… The sun sinks lower every day. We put things away. We close the shutters. And the cool night drafts seep in through the cracks. Stones whisper Yesterday, we went to a concert in Montmorillon. The town sits on the river Gartempe, as it has for 1,000 years. View … Read More
But we (consumers) owe, individually, more money than ever. Thanks to government borrowing, we also owe more jointly than ever before. And our wages are slipping… The dollars fly around…but is anyone better off?
Proponents, led by Mr Trump, claimed it would add growth and jobs, and inflate incomes. Critics — including your editor — claimed it was a cheap trick that would merely increase the deficit (thereby shifting…
Instead, like Antony putting himself forward over the body of Caesar, Trump came neither to bury nor to praise…but just to use the dead senator as a prop, turning the funeral program into an ersatz…
‘Trouble ahead, Lady in red ‘Take my advice you’d be better off dead ‘Switchman’s sleeping, train hundred and two is ‘On the wrong track and headed for you ‘Casey Jones’, Grateful Dead And so…the trains gather speed. The Ol’ Deep State Cannonball is chugging up from Washington…and the Manhattan Money Machine is barrelling down from … Read More