October 19, 2025 | Is Deep Fear Driving Gold, or Just the Bubble

  The aging bull market smells like it’s in a topping process, although it could take a vicious head-fake or two to new highs to set the hook. Last week, I raised the possibility that shares had entered a vortex similar to the one that led to the 1929 Crash. A key similarity is that […]

October 19, 2025 | When Ethnic Cleansing & Genocide Is Acceptable

Those who think that Israel is guilty of genocide as if that is something unique to the Middle East, are obviously blind to the the entire region of the Balkans and Ukraine. This is the motherland of ethnic cleansing and genocide that the Western Press is paid to ignore. Trying to achieve peace in the […]

October 18, 2025 | The Final Crisis: This is Our Future

Turn out the lights, the party’s overThey say that all good things must endCall it a night, the party’s overAnd tomorrow starts the same old thing again      – Willie Nelson Willie Nelson is not, to my knowledge, a proponent of any economic cycle theories – though now at 92, he’s seen more cycles than most […]

October 18, 2025 | Danielle on CBC Weekend Business Panel

October 18, 2025 | Tech Talk for Saturday October 18th 2025

The Bottom Line The S&P 500 Index and TSX Composite Index are following their traditional pattern in the month of October: Lots of volatility, but no trend.

October 17, 2025 | Is Peace with Russia Possible?

QUESTION: Do you think there is any chance of peace with Russia? DS ANSWER: Europe and NATO are the aggressors – not Putin. Zelensky is meeting with Trump today. Trump has to realize who his real opponents are. Peace with Russia is easy if you do what is right. Putin warned Zelensky that the Minsk Agreement was […]

October 17, 2025 | Canadian Auto Industry Faces Creative Destruction

The Canadian auto industry is in deep trouble. Donald Trump’s new tariffs threaten cross-border trade — and U.S. automakers are already moving production south. Here’s the kicker: Canada’s auto sector isn’t even Canadian. Toyota and Honda build three-quarters of the cars assembled here. American brands make the rest. And those are being moved south: “In a major […]

October 17, 2025 | Some Historical Context

This video offers a worthwhile summary of current conditions and parallels with the past. The more things change, the more human behaviour stays the same.  

October 16, 2025 | Chaos and Disorder Prohibited by National Guard

The party of chaos and disorder is furious that the National Guard has been restoring peace to US cities. Every metric has shown crime significantly plummeting in every area where the National Guard has been stationed. American citizens are safe; the military is protecting those abiding by the law. Yet, those like Obama are spinning […]

October 16, 2025 | Priced for Nothing but Blue Sky and Sunshine

The markets have climbed higher despite continuing concerns around the shutdown, tariffs and inflation. The S&P 500 and Nasdaq have set records more than 30 times this year and other data suggest the economy is chugging at a steady clip. But for the majority of Americans, this economy is landing very differently right now, and […]

October 15, 2025 | Fed to Slow Bond Buying Program

The Fed may create policy, but it is ultimately dictated by the markets. Powell came out and reaffirmed the central bank’s fears of a hiring slowdown. Soon, the bank will no longer shrink its $6.6 trillion balance sheet, previously allowing $40 billion of mortgage-backed securities and Treasuries to mature each month without replenishment. Powell insists […]

October 15, 2025 | The Compound Cost of Policy Errors Around Immigration and Housing

A couple of must-read articles from the Globe this week examine Canada’s policy errors around immigration and housing–two tangential, interconnected themes with far-reaching impacts for our economy, present and future. See, How Canada got immigration right for so long–and then got it very, very wrong: Canada conducted a decade-long experiment. The experiment’s principal investigator was the […]

October 14, 2025 | Real Estate Bust Has Legs

The Canadian housing bubble has been deflating since February 2022, and there’s room for it to run. We highlighted the mania and frenzy of financially destructive behaviours in real time, noting that once bubbles pop, property prices typically take years to recover. BMO Senior Economist Robert Kavcic apparently agrees. In a recent note highlighted on Better […]

October 14, 2025 | China Accuses Taiwan of Psychological Warfare

Taiwanese intelligence launched a psychological warfare attack to spread separatist activities, according to the Chinese Communist Party who has placed a cash bounty on the heads of 18 Taiwanese military officials. Taiwan’s Defence Ministry called the accusations “despotic and pig-headed thinking.” Chinese authorities believe Taiwan’s “psychological warfare unit” deliberately created online games depicting Taiwan fighting […]

October 13, 2025 | Is the AI Stock Bubble Partially Fake?

There’s a business practice sometimes called “vendor financing” in which a company lends money to a customer, who then uses that money to buy the company’s products. The company reports the proceeds as sales and income, usually without a full accounting to its shareholders. This financing scheme can work — as long as the customer […]

October 13, 2025 | A Monetary Reset is Coming, and Canada isn’t Prepared | Maxime Bernier

Maxime Bernier has had a long-standing interest in business and worked for several financial and banking institutions. He become Executive Vice-President of the Montreal Economic Institute in 2005. Many people in the region encouraged him to enter politics. He took up the challenge and was elected a Member of Parliament on January 23, 2006. He […]

October 13, 2025 | Open Borders Protect Migrants from Climate Change

    Sorry to the Brits, but your country has been overrun by migrants due to climate change, according to your prime minister. The globalist rhetoric is overlapping to the point of insanity. At a recent UN General Assembly, Foreign Secretary Yvette Cooper said, ” At this moment of intense global instability and conflict, UK […]

October 12, 2025 | Is Silver Becoming “Unobtanium”?

Silver is back at its all-time nominal high, while tales of shortages and squeezes abound. Is this the moment long-suffering stackers have been waiting for? Let’s start with an AI-generated overview of the structural silver deficit: A significant global shortage of silver is currently underway, driven by persistent demand outpacing supply. This deficit is the […]

October 12, 2025 | Big Debt Cycles, Part 2

Today we continue reviewing Ray Dalio’s latest book, How Countries Go Broke. If, like me, you fear that you may soon live in such a country, Ray’s work reads like a guidebook to the future. But in fact, this future is just the latest iteration of a well-known debt cycle, one that is almost natural in […]

October 12, 2025 | Have Stocks Entered a 1929 Vortex?

Although in recent years October has not lived up to its reputation for scaring the pants off investors, we should take Friday’s punitive reversal seriously, since it could mark the start of a bear market that is arguably years overdue. Although we have grown accustomed to ‘freaky’ Fridays producing headline events now and then, there […]

October 12, 2025 | Is Bitcoin A Store of Value?

QUESTION: How can you say that Bitcoin is not a store of wealth? Nobody agrees with you. DF ANSWER: Bitcoin is no more a store of wealth than copper or anything else. I have said from the outset that it is a trading vehicle. It will rise and fall like everything else. A store of […]

October 12, 2025 | Making Money – But At What Price

  [Taken from “Health First” in Sept 2025 Timing Letter] Regardless to what happens to the price of real estate or gold, your highest priority should be your health. I like making money as much as the next guy – if not more.  But the first thing I think about when I get up in […]

October 11, 2025 | Trading Desk Notes for October 11, 2025

Leading global equity indices (and other risk assets) tumble on a sharp rise in US/China trade tensions China’s announcement of comprehensive restrictions on rare earth exports on Thursday had little impact on equity markets (but gold and silver tumbled). However, Trump’s aggressive social media response on Friday morning sparked a relentless day-long decline across equity markets. Trump […]

October 10, 2025 | Canadian Pipelines: Good Bad Ugly and Nightmares

Pipelines: The Good, the Bad, and the Ugly Another pipeline fantasy rises from the political graveyard. Premier Danielle Smith is pitching a “ghost” pipeline to the West Coast — no sponsor, no permits, vague route, no funding. It’s Northern Gateway all over again. Canada’s pipeline history is a mix of ambition, divisive politics, and staggering […]