Category Archives: Uncategorized

We starved the beast.  And suddenly we find we need it.  But no amount of whipping is going to get it moving any faster than the starved, weak, abused thing we let it become. “Starving the beast” is a political … Continue reading →

I wrote this in response to a piece a friend sent and figured I’d just share verbatim.  Arguing that “cheap” PE ratios aren’t valid because the earnings estimates in them are stale. pre-virus numbers. Tempted by the cheap valuations the … Continue reading →

It is time to take down risk and plan for a long stretch of deflation, poor returns on assets, and general stagnation.  The immediate but temporary threat of Coronavirus is obscuring clear and obvious signs of a much uglier, longer-term … Continue reading →

A surprisingly large number of Americans are perfectly willing to vote for a Socialist. This is the take-it-to-the-bank lesson so far from the Democratic nomination race.  Although it may only be surprising to a certain upper layer of society (to … Continue reading →

Biden’s polling “support” is properly read as “undecided.”  Meaning the Democratic primary race has (or had) about 30%40% “undecided” and is wide open.  The real question is where that 30%-40% lands.  I still think Warren is the most likely recipient.  … Continue reading →

Fascist leaders made no secret of having no program. Mussolini exalted in that absence….  A few months before he became prime minister of Italy, he replied truculently to a critic who demanded to know what his program was: “The democrats … Continue reading →

Do you want a clear conscience after Election Day 2020?  I do.  So I BOUGHT one by taking action now.  I just gave not-a-lot-of-money to six Democratic Senatorial campaigns.  You can buy that same peace in about 10 minutes – … Continue reading →

I think Nancy Pelosi is hoping and waiting for “the” under-the-waterline leak that torpedoes the Trump administration’s impeachment defense.  A smoking gun memo.  Or a White House official breaking ranks and testifying. That isn’t a guarantee this will happen and … Continue reading →

I am publishing the attached letter here to ensure it is publicly available to those who might have an interest in Calix.  If it is of interest, keep on reading.  If not, I’ll be back with my usual programming probably … Continue reading →

I remain amused worried by the persistence of the “Central Banks are manipulating rates!” myth.  Particularly among so many self-identified free market types.  It is a comforting myth.  And yes, the facts point in a deeply discomforting direction.  But FRED* … Continue reading →