Congress Needs Remote Legislating Capabilities As Soon As Possible
5 days ago | News
Without remote legislation capabilities, there are plausible scenarios where Congress loses its ability to legislate, or even to function. Imagine a scenario where the government is frozen in place — and no new emergency bills or measures can be passed. The risk of a non-functioning government, in the midst of the worst global crisis in generations, is now staring us…
Is $2 Trillion Worth of Stimulus a “Nuclear Bomb” — or a Mattress in a Volcano?
5 days ago | News
A $2 trillion emergency relief bill passed in the U.S. Senate by unanimous vote. The bill is likely to pass in the House, and the president is likely to sign it. The final ink is not dry as of March 26. And yet we can say, with a high degree of confidence, that roughly $2 trillion worth of aid is…
The Day the Fed Went to Infinity — and Markets Didn’t Care
1 week ago | News
The Federal Reserve went to infinity, and markets didn’t care. It’s hard to say which part of that statement is more remarkable. On the one hand, the Fed has promised to print endless trillions, if need be, to absorb whatever assets it needs to. That is mind-blowing. On the other hand, the market took the Fed’s announcement in stride —…
America and the World Will Never Be the Same
2 weeks ago | News
Vladimir Ilyich Lenin once said: “There are decades where nothing happens; and there are weeks where decades happen.” We are living through one of those weeks. Lenin led the Bolshevik revolution of 1917 and the formation of the USSR (Union of Soviet Socialist Republics) in 1922. When he said “there are weeks where decades happen,” Lenin meant society can exist…
Congratulations: You Survived the Wildest Market Conditions Since 1929
2 weeks ago | News
Have you ever wondered what the 1929 stock market crash was like? Have you ever imagined how it might feel, as an investor, to endure 1929-level panic and turmoil? Have you ever wondered if you could handle it? Well, you don’t have to wonder anymore, because it just happened. The extreme volatility and fear displayed on Monday broke all records…
Italy is a Foreshadow of the “Tsunami” that is Coming. All Americans Should Prepare.
3 weeks ago | News
We have been sounding the alarm on the coronavirus situation for weeks. Last week, we explained that America is entering the coronavirus J-Curve. We also explained why more than 80 million Americans are likely to be infected (as a low-end estimate). One of the replies we received was short and blunt: “Thanks for scaring the s–t out of me.” It…
The U.S. Shale Industry Might Not Survive the Saudi-Russian Oil War of 2020
3 weeks ago | News
The overnight futures markets were a stunning sight to behold this weekend. On Sunday night, the Brent and West Texas Intermediate crude oil futures markets were down more than 30% at their lowest point. That is the wildest price move for crude since the first Gulf War in 1991. Crude oil is still, by far, the most important commodity in…
Central Banks are Confirming a 71-Year-Old Prophecy from Austrian Economics
4 weeks ago | News
On Monday, Feb. 2, 2020, the Dow Jones industrial average roared higher by nearly 1,300 points. The single-day rally was the Dow’s best day in more than a decade. And the Dow was only one part of it. Stocks in general were up big on Monday in the anticipation of central bank stimulus. The story is well known: When things…
Why the Outbreak is Like a Biological EMP Attack
4 weeks ago | News
Last week, the markets experienced true panic. The S&P 500 saw its fastest-ever 10% correction from all-time highs; the 30-year U.S. treasury bond yield fell to all-time lows on safe-haven buying; and the Chicago Board Options Exchange (CBOE) Volatility Index, also known as the VIX, saw a bigger intra-month spike than it did in October 2008. The source of fear…
Coronavirus is Coming to the United States — Here’s What to Watch
1 month ago | News
Coronavirus is coming to the United States. “It’s not so much of a question of if this will happen anymore,” Nancy Messonnier, Director of the National Center for Immunization and Respiratory Diseases (NCIRD), said in a Wednesday briefing, “but rather more of a question of exactly when this will happen.” Immediately after the NCIRD briefing was released, the stock market…
