The good news from the president’s State of the Union speech is that he recognized that our federal deficit is a bad thing. His proposed spending freeze, starting next year, is only a symbolic gesture, but it is important. It proves that the administration learned a lesson from the Massachusetts Senate race. Specifically, that lesson is …read more
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Gold is now more closely correlated with US stocks than with either the Euro or silver... Okay, this is getting weird. Too weird, in fact. And weirder still, no one else has yet noticed... It might just be me...if not my nicotine D-T’s. But every time I look, there they are. Gold and the ...read more
Even when Paul Krugman gets it right, he still gets it wrong. Now, I am not someone who is a knee-jerk critic of the guy, although I generally expect Krugman to blame the wrong people and recommend the wrong “solutions.” Thus, when I saw the title of his most recent ...read more
One of the constant themes of modern socialism (and Keynesianism) is the belief that we can create prosperity through government spending on roads. Mind you, roads can help an economy if they are located in places where they can aid commerce by making it possible for relatively cheap transportation that ...read more
Government-inspired confidence will neither create nor sustain a recovery. It may inspire some enthusiasm. There may be excitement. But, there is a limit to which words will help energize people. Last week’s State of the Union Address will be a supreme example of just that. It was billed as a ...read more
What's up, pussycats? When both metal and the market take a beating in the same two-week period, what's going on? I suppose someone could hazard, "Everybody is in profit-taking mode?" but that's entirely too simple for this Li'l Ol' Conspiracy Theorist. Particularly in a world where a lot of us ...read more
Dr. William Anderson's superb article concerns a subject some of the Shooters and I have been kicking around recently. Our focus was on why governments shouldn't build roads at all, part of which is that it is always inefficient to filter money through some bureaucracy. Between waste, the misallocation of ...read more
My Grandmother’s favorite word for politely describing the obtuse among us aptly characterizes a recent attack on gold. And that it comes from an investment magazine that commands front-of-the-rack prominence in waiting rooms across our great land is reassuring evidence we have a long way to go in this gold ...read more
Last year's stock market rally was impressive. But what if it was merely a case of investors taking on more risk, having been encouraged by low interest rates and all the liquidity sloshing around in the stock market, taking it higher? How would that be substantially different from banks taking ...read more