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America Still Leads But Its Allies Are Uneasy, is the title of a recent Bloomberg opinion piece by Niall Ferguson. I have some reservations about Ferguson as an historian but to be fair to him, he is extremely knowledgeable and he is well connected around the world. In his essay he writes, “An essential ingredient of leadership is an inspiring…
Bloomberg recently reported that Bernard Arnault who controls LVMH - which holds a portfolio of about 75 luxury brands, including Louis Vuitton, Tiffany & Co., and Christian Dior - took the hit to his wealth the same day LVMH shares fell 5% in Paris. “However, Arnault still ranks No. 1 in the Bloomberg Billionaires Index’s ranking of the world’s…
According to New York Post, “Nearly third of New Yorkers want to move out, fed up with crime, housing costs, poor schools and more” (see New York Post, April 12, 2023). In recent reports I have described how both commercial and residential property prices in American and Canadian urban centers had been declining from admittedly inflated levels The …
A recent article in the Financial Times by Terry Smith made me laugh because it read, Why I never invest in bank shares - Silicon Valley Bank and Credit Suisse collapses prove my point. [Terry Smith was the Number 1-rated banking analyst in the Reuters and Institutional Investor surveys 1984-8.] In other words, here we have a banking analyst who…
Former US Secretary of the Treasury (1974 – 1977) William Edward Simon (one of the best Secretaries of the Treasury the US ever had) exclaimed once that, “I continue to believe that the American people have a love-hate relationship with inflation. They hate inflation but love everything that causes it.” According to Michael Hartnett, chief…
According to a Goldman Sachs Group’s strategist, investors are flocking to non-US assets. Bloomberg notes that the US has seen outflows of about $5 billion just in the first two weeks of the year, while lower gas prices, a weaker dollar and optimism about China’s economic reopening have spurred inflows into stock funds of Europe, China and other…
One of the recurring themes of this report over the last few months was that the world was in recession and that the great asset inflation period, which began in 1981 when interest rates around the world topped out, was coming to an end. Obviously, the majority of investors disagree with this recessionary scenario and the negative return in real…
Every four years, most people around the world are captivated by the FIFA World Cup, which recently began in Qatar. Although soccer unlike “Polo”, which is considered “the sport of kings,” is not a “high class” game, it is by far the most popular game around the world and the FIFA World Cup is the most watched show on earth. According to FIFA, the…
A well-known China basher who in 2001 already published a book entitled The Coming Collapse of China, dead-ahead of China’s rapid growth and development opined a few years ago, that China achieved its current trade surplus with the United States through “lying, cheating, and stealing.” When I discussed these claims with my friend Adrian Day he…
The other day Paul du Quenoy wrote in The Spectator about Martha’s Vineyard and the fraud of the rich white liberal and asked the questions, “Where’s their compassion? Where’s their inclusion?” Du Quenoy further observed that, “Those white liberals are now entertaining the world with the most amusing mass meltdown in some time. As natural…
Marc Faber