Reports

“We don’t pay much attention to politics… or presidents,” our fearless leader Addison Wiggin likes to write. “In fact,” continues Addison, “this is the time of year we urge readers not to vote at all. ‘Why encourage the bastards?’ the saying goes.” Indeed, why “encourage the bastards?” Today of course ...

It’s becoming increasingly evident that Joe Biden is likely to win the election. He’s now taken the lead in Pennsylvania, which Trump needs to win reelection. Biden’s also taken the lead in Georgia, while holding onto leads in Nevada and Arizona. It’s not over yet, but everything would have to ...

The American people have spoken. But what did they say? We do not yet know. The telephone connection was poor. Their message was garbled, jumbled, indecipherable. The static may not clear for days… or even weeks. Several “battleground” states have yet to declare a definitive winner — Pennsylvania, Michigan, Wisconsin, ...

We’re in the wake of one of the closest elections in U.S. history, at least in the Electoral College count. Joe Biden will win the popular vote count by 3 to 4 million votes. That was totally expected and is irrelevant. Presidents are elected by the Electoral College, not by ...

On this Election Day we trample sacred ground… trumpet a message of heresy… and offend the wrathful gods. For we challenge the cherished and soothing assumptions of democracy. In 2001, academic Hans-Hermann Hoppe scribbled a book bearing the soaring title Democracy: The God That Failed. Hoppe’s work is a dart ...

Tomorrow’s the big election we’ve been anticipating for months. It’s not an exaggeration to say that this is the most important presidential election since the 1860 election that put Abraham Lincoln in office, leading to the Civil War. So, who’s going to win? Those paying attention to the pre-election frenzy ...

The Fed says that “price stability” is part of their dual mandate and they are committed to maintaining the purchasing power of the dollar. But the Fed has a funny definition of price stability. Common sense says price stability should be zero inflation and zero deflation. A dollar five years ...

Investors have been hearing for years that “interest rates are near all-time lows,” and “rates have nowhere to go but up,” and finally, that “the bond bear market is right around the corner.” These warnings have come from notable bond gurus including Bill Gross, Jeff Gundlach and PIMCO’s Chief Investment ...

I try to limit my analysis to markets while leaving politics out of it, but sometimes I have no choice but to focus on politics. This is one of those times. Their potential impact on markets is simply too great to ignore. Despite media blackouts and social media censorship, most ...

Right now, the United States is officially $27 trillion in debt. Nearly $7 trillion was added since President Trump took office. This year’s budget deficit is projected at $3.3 trillion, over three times last year’s estimate. The coronavirus is responsible, and the number should be an outlier. But annual deficits ...