Hollow Men, Hollow Markets, Hollow World
Over the past 25 years, our leaders have intentionally constructed an Apocalypse Now world of proclamation and fiat, where our wealth has grown much f…
Tag: inflation topic
Inflation and the Common Knowledge Game
At whatever point in time you think inflation will start to fade, you are being too optimistic.
Why? Because common knowledge.
Where do we go from h…
I’m So Tired of the Transitory Inflation “Debate”
When a famous person shakes his or her finger at you, they're not telling you a fact.
They're telling you how to think about a fact.
Wage Inflation Isn’t Coming. It’s Already Here.
Over the past four quarters, the United States has generated more wage inflation than at any point over the past 40 years.
This is not an anomaly. Th…
I’m Trying To Understand Hedonic Adjustments
A Honda Accord cost $12,000 in 1990 and it costs $25,000 now.
A Mustang was $9,000 and now it’s $27,000.
The BLS has new car prices close to unc…
What Do We Need To Be True?
Modeling common knowledge by analyzing missionary statements and their reverberations works. Except when it doesn’t.
The Opposite of 2008
In 2008, the US housing market - together with a Fed that thought the subprime crisis was "contained" - delivered the mother of all deflationary shock…
A Song of Ice and Fire
We are the human animal.
We are non-linear.
We ARE a song of ice and fire.
It’s a song that has built cathedrals and fed billions and taken us to…
Pricing Power (pt. 3) – Government Collaboration
What killing active investment management? It's not some monster hiding behind the rabbit. No, it IS the little white bunny. It's the Zeitgeist of cap…
Pricing Power (pt. 2) – Intellectual Property
Your mother was a hamster and your father smelt of elderberries … the pricing power found in intellectual property. It's not as easy as it looks.
Pricing Power (Pt. 1)
When an inflation regime shifts, the only question that really matters for your investments and your business model is this: do you have pricing power…
Things Fall Apart (Part 3)
The Fed, China and Italy are the Three Horsemen of the Investment Semi-Apocalypse. They're major market risks, but you'll survive.
There's a Fourth …
The Icarus Moment
We live in a Cartoon Age, an era not of alienation per Karl Marx, but of alienation per Groucho Marx. What’s the cause, what’s the future, and wha…
Gradually and Then Suddenly
The question isn’t whether the barge of monetary policy has turned around and embarked on a tightening course — it has — the question is how fas…