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The King of Thailand died yesterday, and the military junta running the country has declared an entire year of mourning. I saw a quick headline from The Economist which screamed, “The death of the Thai king throws the country into turmoil.” Really? This must be a different country from the
First of all, I want to say thanks for all the well-wishes. I’ve been flat on my back for the past several days with a particularly nasty case of the flu that I likely contracted en route to Los Angeles last week. Picking up the occasional bug is one of
Back in the 1970s, the BBC started broadcasting a children’s show called ‘Why Don’t You?’ Its full title: ‘Why Don’t You Just Switch Off Your Television Set And Go Out And Do Something Less Boring Instead?’ Out of the mouths of babes. Rolf Dobelli, the best-selling author of ‘The Art
“This is a global problem,” said billionaire hedge fund manager Ray Dalio yesterday to a packed audience of central bankers. “Japan is closest to its limits, Europe is a step behind it, the US is a step or two behind Europe, and China is a few steps behind the United
In the modern history of the US economy over the past seven decades, the longest period of time the country has gone without a recession was 10 years. Since the end of World War II there have been 11 recessions in the United States of America, so the average time
It’s official. The United States government closed out the 2016 fiscal year that ended a few days ago on Friday September 30th with a debt level of $19,573,444,713,936.79. That’s an increase of $1,422,827,047,452.46 over last year’s fiscal year close. Incredible. By the way, that debt growth amounts to roughly 7.5%
This is getting to be a habit. Previous late summer holidays by this correspondent coincided with the run on Northern Rock, and subsequently with the failure of Lehman Brothers. So the final crawl towards the probable nationalisation of Deutsche Bank came as no particular surprise this year, but it is
If there were ever any doubt about how completely RIGGED the banking system is against depositors, allow me to introduce the following: Exhibit A: Governments are working to make banks LESS safe Yesterday an unelected bureaucrat that no one has ever heard of made a stunning announcement that has sweeping
When I saw the chart, the first thing I thought was, “hockey stick”. It’s flat on the left side, then suddenly soars up and to the right, indicating an abrupt and rapid rise in prices. Which chart am I talking about? Real estate prices, specifically in an uptown enclave of
I used to watch wrestling when I was a kid… I come from the age of Hulk Hogan, Ultimate Warrior, and Randy “Macho Man” Savage. Huddling close to the television each weekend, my friends and I would cheer for our favorite stars and their signature moves. My dad ruined it
I’m in New York City this week meeting with the Prime Minister of a Caribbean nation about his country’s citizenship-by-investment program. Citizenship-by-investment is exactly what it sounds like: foreigners invest a certain sum of money in a country in exchange for citizenship and a passport. Depending on the country, the
Yesterday I told you how the US federal debt level is expanding at its fastest rate since the financial crisis. This isn’t supposed to be happening. The financial crisis is years behind us. The economy is supposedly on solid footing. The government keeps gushing about how much tax revenue they’re
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