The King Queen Has No Clothes (Other Than Black) “U.S. Probes Theranos Complaints” —Headline; The Wall Street Journal (Dec. 21, 2015) If you’re not familiar with blood testing start-up Theranos, here’s the Reader’s Digest version: wunderkind founder Elizabeth Holmes drops out of Stanford at 19 years old, comes up with a revolutionary (and vastly cheaper)...Read More
The $6.4 Trillion Question: Why Not?? I’m sure Eric Holder accomplished lots of other things during his six-year tenure as (now-outgoing) U.S. Attorney General. Unfortunately, holding Wall Street accountable for its egregious — and frequently criminal — conduct at the heart of The 2008 Financial Crash most certainly wasn’t one of them. The really hard...Read More
Turning Keynes Inside Out “Markets can stay irrational longer than investors can stay solvent.” –John Maynard Keynes In light of The Federal Reserve’s unprecedented, going-on-six-year campaign of monetary stimulus, perhaps the question to ask isn’t, “why are stocks trading at record levels?” Rather, it’s “why aren’t stocks even higher?” My answer: because at least some...Read More
David Stockman: ‘Get Out of the Markets & Hide Out in Cash’ “The United States is broke ” fiscally, morally, intellectually. When the latest bubble pops, there will be nothing to stop the collapse.” –David Stockman, “State-Wrecked: the Corruption of Capitalism in America“; The New York Times (March 30, 2013) The scary prediction above comes...Read More
