The traditional analysis keeps calling for the next Black Swan event asserting that massive leveraging of US nonfinancial businesses since 1972 is incompatible with the stock market levels rising from 62% to 204% of GDP. Of course, this analysis is ALWAYS the typical economist view which is the entire problem. The traditional analysis is why […]

ASIA: China’s President Xi Jinping said China will strive to hit key economic and social development targets set for this year, even as authorities maintain an aggressive approach to containing Covid-19. Xi said China should push for high-quality development and better coordinated policies around development and safety. He was speaking during a visit to Chengde […]

COMMENT: Marty, It’s now so obvious…but no one has more to gain with the lockdown(and more to lose with its lifting) than Big Tech. The lockdown destroyed small and medium sized business, especially those that are in private hands. These were the real target of the lockdown…private property….collapse these businesses and you go at the […]

ASIA: China saw 108 million visits and raked in 76.5 billion yuan in tourism income on October 2, the second day of the National Day holiday, while the first day observed a total of 97 million visits with 76.7 billion yuan ($11.3 billion) in tourism income, according to the Ministry of Culture and Tourism, raising […]

ASIA: Buoyed by a construction boom, China’s economic recovery continued apace in July, new sentiment data suggested. The official manufacturing purchasing managers’ index (PMI) for July stood at 51.1, with a reading above 50.0 suggesting expansion in factory output. This was slightly better than June’s reading of 50.9 and was better than analysts’ expectations, with […]

COMMENT: In Sweden the schools (1-9 grade) have not been closed for a single day during March-May. High schools and universities have been locked down with digital lectures, but exams are in classrooms as normal. Bar desks are closed, but buffés (smörgåsbord) and serving at every second table have been allowed during corona. That is about […]

QUESTION: You seem to always be against conspiracy theories except that it always comes down to government against the people. Why are most of the bankers Jewish? Do you have an explanation for that? JE ANSWER: If you simply knew your history you would realize that both the Catholics and the Arabs maintained it was […]

QUESTION: Hi Martin– Thank you for your daily blog. I read it first thing each morning. Regarding the bank liquidity problems with the Eurozone banks: would it make sense to put assets in precious metals as a hedge against problems in the banking sector (i.e., getting capital out of the banks and into a safe […]

  On the one hand, the Midterm Elections really mean nothing. The Democrats cannot reverse their declining trend since they peaked with FDR, and the Republicans cannot deliver the final death blow to the Democrats to put them out of their Marxist misery.  While we have provided the target ranges for the vote, we also […]

U.S. Supreme Court Pollock v. Farmers’ Loan & Trust Co., 157 U.S. 429 (1895) Pollock v. Farmers’ Loan and Trust Company No. 898 Argued March 7, 8. 11, 12, 13, 1895 Decided April 8, 1895. 157 U.S. 429 APPEAL FROM THE CIRCUIT COURT OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK Syllabus […]