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Franklin Roosevelt pressed the red emergency button to stop the elevator on the way down to his private dining room. The King of Saudi Arabia was waiting for him, but the President wanted to smoke a couple of cigarettes first. It was 11:30 in the morning on Valentine’s Day, 1945.
By 1970, US commanders in Vietnam were optimistic that they had “functionally severed” North Vietnamese forces. The generals were particularly boastful about their taking out the Ho Chi Minh Trail—a sprawling network of roads, footpaths, and tunnels through Laos and Cambodia that let North Vietnamese forces move troops and supplies
When Letitia James campaigned to become Attorney General of New York State, she made one very clear campaign promise: prosecute Donald Trump. Prosecute him for what? Well, she’d figure that out later. Never mind that, in America, prosecutors are supposed to investigate crimes to find suspects, not investigate people to
Preparing for the escalation that’s likely to come There’s rumors floating around alleging that top secret plans from the Chinese Communist Party have been leaked, indicating that China’s President Xi Jinping views this conflict with the US as the opening to a complete and total war. Personally I’m skeptical if
It’s been nearly two weeks of whipsaw, roller coaster tariff moves and countermoves… all of which threatens to upend not only economic stability, but even the global financial system as we know it. I can’t stress this enough: what we’re witnessing right now will almost certainly go down as one
The US has revived a Cold War dating policy in China: if she’s into you, assume she’s a spy. Four US government personnel stationed in China have anonymously told the media that every government worker and contractor stationed in China was explicitly banned from having sexual or romantic relationships with
Yesterday I wrote to you that something very fishy was going on in the bond market. And not just fishy— potentially destructive for the federal government and US economy. For the past several days, US government bond yields have been surging at a rate not seen since at least 2008.
You probably saw the headline this morning that China is retaliating against US tariffs with an 84% tariff of its own. This trade war is obviously far from over… which probably means that financial markets are in for a lot more volatility. Most people focus on the stock market. And
Countless people around the world are dumbfounded and dismayed in the wake of this tariff chaos. And, ironically, the sentiment was probably best captured by Canada’s new Prime Minister, Mark Carney, who said, “While this is a tragedy, it is also the new reality.” He’s right on both counts. It
It was sometime in the spring of 323 BC when Alexander the Great– the “King of the World”– passed through the gates of ancient Babylon for the last time. He had already conquered the city nearly a decade before. But his men were worn out from fighting in India and
We recently received a question from a reader asking— given all the volatility in the market, what do we think of US government bonds right now as an asset class? First, it’s absolutely true that there has been a sudden surge in uncertainty. In some respects, it’s astonishing how much
There is a shady syndicate in the United States that has perfected the art of stealing from taxpayers; they’re so good that they manage to siphon off hundreds of billions of dollars each year. But this is no traditional criminal outfit. There’s no ski masks, no getaway cars, no briefcases
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