Category Archives: Uncategorized

Biden’s polling “support” is properly read as “undecided.”  Meaning the Democratic primary race has (or had) about 30%40% “undecided” and is wide open.  The real question is where that 30%-40% lands.  I still think Warren is the most likely recipient.  … Continue reading →

Fascist leaders made no secret of having no program. Mussolini exalted in that absence….  A few months before he became prime minister of Italy, he replied truculently to a critic who demanded to know what his program was: “The democrats … Continue reading →

Do you want a clear conscience after Election Day 2020?  I do.  So I BOUGHT one by taking action now.  I just gave not-a-lot-of-money to six Democratic Senatorial campaigns.  You can buy that same peace in about 10 minutes – … Continue reading →

I think Nancy Pelosi is hoping and waiting for “the” under-the-waterline leak that torpedoes the Trump administration’s impeachment defense.  A smoking gun memo.  Or a White House official breaking ranks and testifying. That isn’t a guarantee this will happen and … Continue reading →

I am publishing the attached letter here to ensure it is publicly available to those who might have an interest in Calix.  If it is of interest, keep on reading.  If not, I’ll be back with my usual programming probably … Continue reading →

I remain amused worried by the persistence of the “Central Banks are manipulating rates!” myth.  Particularly among so many self-identified free market types.  It is a comforting myth.  And yes, the facts point in a deeply discomforting direction.  But FRED* … Continue reading →

So I’d decided to break my self-imposed politics ban about a week ago.  Election is coming up so politics are actionable and just too salient and…   Then I got a stomach bug.  Then the rest of the family got the … Continue reading →

I don’t often re-post other content, but the piece (link in full below) is worth sharing.  It is a “where are the markets now?” piece that very tidily sums up the main (credible) arguments for over or under-valuation of financial … Continue reading →

Today’s FT brings a tidy, cogent, Japan-based example of the risks of so-called low risk assets when demographics turn against you. We Are All Japanese Regional Banks.  We Just Don’t Know it Yet. The (paper) Financial Times has a great … Continue reading →

I’ve been running myself in circles trying to figure out the whole negative rates/inflation/global outlook thing.  Usually writing it out helps, but not in this case.  But seeing if some baby steps might help break the writers (and thinker’s) block. … Continue reading →