December 10, 2025 | Trump Preparing to Exit NATO?

  President Trump released the 2025 National Security Strategy (NSS) of the US, released by the White House on December 4th, 2025, marks a potentially profound shift in US foreign policy. He has criticized Europe and insisted on ending the perception and preventing the reality, of NATO as a perpetually expanding alliance.  This 33-page document […]

December 10, 2025 | High Shelter Prices Cost a Fortune

About 36% (14.8m) of Canada’s (41m) population lives in three metro areas (StatsCan data): Toronto, Vancouver and Montreal. Unfortunately, these three cities have the dubious distinction of experiencing the most significant home price inflation in North America over the past two decades, far ahead of other major American cities (shown below, courtesy of Visual Capitalist), […]

December 9, 2025 | Minnesota Indicative of Broader Scam – Identity Politics

(Minnesota state flag)   COMMENT: Marty, After reading the stories you’ve shared about people not being able to almost anything of value onto planes without a real risk of confiscation, the Alpha News video where a TSA agent claims to have observed multiple suitcases of cash muled out of the country by Somali men makes […]

December 9, 2025 | Nothing More Empowering Than Self-Powering

We have driven electric cars for 8 years now, and our real-life experience confirms that EVs are safer, cleaner and much cheaper to operate than conventional ICE autos. Yes, even in cold climates. Last year, we added solar and can now self-power our cars and 75% of our annual electricity needs. Like growing food and […]

December 8, 2025 | Canada Sees a Rise in New Military Recruits

The Canadian military had been contracting in recent years, but new recruitment incentives have changed the course. There is no better time to recruit fresh blood than when the economy turns down. An October 2025 Auditor General’s report found that the Canadian military was not attracting enough applicants to meet quotas. Prime Minister Mark Carney […]

December 8, 2025 | Is the Bank of Canada done easing?

Some unexpectedly strong employment estimates from Statistics Canada last Friday caused markets to reprice abruptly, with the expectation that the Bank of Canada is done easing and will hold its policy rate steady at 2.25% through 2026. The unexpected employment gains for November were driven entirely by survey results reporting part-time jobs (below in yellow […]

December 8, 2025 | Italy Declares Central Bank Held Gold an Asset of the People

European Central Bank President Christine Lagarde steps in every time a government attempts to implement monetary policy. The centralized power now has the final say, sorry, but sovereignty is not an option for European Union members. Italy proposed declaring gold an asset of the people, but Lagarde has found a way to prevent that from […]

December 8, 2025 | Next Year’s Wild Card: The Yen Carry Trade

Most countries’ sovereign bond markets have been pretty tame lately. Here, for instance, is the yield on US Treasury notes: But it’s different in Japan, where money is getting dramatically tighter: Normally, when the world is moving in one direction and a single country breaks ranks, it can be dismissed as a temporary glitch that […]

December 8, 2025 | Self-Inflicted

Happy Monday Morning! The Canadian economy added 54K jobs in November, marking the third consecutive month of surprising job gains. The unemployment rate plunged to 6.5%, the lowest since July 2024 and down from 6.9% last month. The “suddenly hot” labour market is rather perplexing considering all the news headlines about layoffs (especially in the […]

December 8, 2025 | Mass Collective Societal Suicide

“Historians will look back at the wreckage of a once-great American civilization and not with wonder that tens of millions of people who were entirely dependent upon government welfare payments were nonetheless allowed to vote. Even to include millions of illiterate 3rd world illiterate aliens who snuck in, then were put on welfare, and were […]

December 7, 2025 | Interview: Helping Alberta Separate

December 7, 2025 | Zuckerberg’s Huge Branding Problem

Stocks looked leaden as the week ended, adding to the impression that the aging bull market is topping. The Dow tacked on a perfunctory 104 points, or 0.22%, and it wasn’t pretty. There was little life in the lunatic sector (aka ‘the Magnificent Seven’), which until recently could be relied on to celebrate its wildest […]

December 7, 2025 | Poverty Level Discourse

ith every paper I’d deliverBad news on the doorstepI couldn’t take one more step I can’t remember if I cried When I read about his widowed bride But something touched me deep inside The day the music died   – Don McLean, American Pie, 1971   Preface: I don’t think it’s just me. We are […]

December 6, 2025 | Trading Desk Notes for December 6, 2025

Run it hot The rally in risk assets is supported, in part, by ideas that governments around the world will “Run It Hot” (with stimulative fiscal and monetary policies) to ramp up economic growth as they try to outrun the consequences of the global sovereign debt crisis.   The “debasement trade” involves buying risk assets as a […]

December 6, 2025 | Making Sense of the “Silver Glitch”

Silver is in the news lately, as it smashes old records and (apparently) wreaks havoc in metals exchanges. But, as usual in global finance, many of the details range from technical to incomprehensible. So here’s an article from Katusa Research that explains some of silver’s recent action and why it’s every bit as bullish as it sounds. […]

December 6, 2025 | Carney’s Undermining the Canadian Civil Rights like UK?

  COMMENT: This is what Carney is doing to Canada. He is following Stammer, and civil rights are all gone. This man is found in breach of a judge’s order for refusing to write a court-ordered apology letter to library manager Shannon Slater for “hurting her feelings.” Anonymous   REPLY: Any government that is in […]

December 6, 2025 | Tech Talk for Saturday December 6th 2025

The Bottom Line Focuses this week are on interest rate decisions announced on Wednesday by Bank of Canada and the Federal Reserve. Consensus calls for no change in the Bank of Canada’s overnight lending rate to major Canadian banks at 2.25% and a 0.25% drop by the Fed Fund Rate to 3.75%. Consensus for Earnings […]

December 5, 2025 | The Yen Carry Trade Unwind Threatens Global Markets

The Shifting Dynamics of the Yen Carry Trade The central thesis is that the decades-long assumption of near-zero Japanese interest rates and a weak Japanese yen (JPY)—the two pillars of the yen carry trade—are now collapsing. 1. The Historical Carry Trade Setup Borrowing: Traders borrowed vast sums in Japanese yen at a near-zero interest rate. Investing: They converted the borrowed […]

December 5, 2025 | It is Not Racist to Ban Migrants from Third-World Nations

  Import the third world, become the third world—no exceptions. Donald Trump has permanently halted migration from 19 third-world nations after a recent shooting of National Guard members. The left calls the ban racist, but logic deems it an economic necessity. The US Census tracked the foreign-born population at 53 million, but the actual number […]

December 5, 2025 | Well-Earned Mean-Reversion Continues in Real Estate

From 1975 through the early 2000s, Canadian median home prices rose broadly in line with median inflation–adjusted household income. Where home prices outpaced income gains in the late 1970s and 1980s, the disconnect was short-lived, before prices corrected more than 30%. From 2000 to 2022, Canadian home prices (shown in red below through Q2 2021) increased by 375%—46% of that from 2020-22—while the average Canadian […]

December 4, 2025 | Housing Bubble #2

                 High price, high risk.                  It’s the same old story since the world began.

December 4, 2025 | FDA Memo Goes Public: Children Died from COVID Vaccine

Vinay Prasad, director of the FDA’s Center for Biologics Evaluation and Research (CBER), sent out an internal email to the Food and Drug Administration featuring “a profound revelation”—the COVID-19 vaccine is responsible for the deaths of a minimum of 10 American children. “In many cases, such mandates were harmful,” Prasad wrote. “It is difficult to […]

December 3, 2025 | Putin Ignores Maduro’s Request for Help

Russian President Vladimir Putin is not interested in another proxy war. The Association of Tour Operators of Russia confirmed that the government is sending flights to Venezuela to remove nationals immediately. Tourism from Russia to Venezuela has grown in recent years, with over 6,000 Russians visiting Margarita Island between August and November this year. Moscow […]

December 3, 2025 | AI Metaverse Moment?

Peter Berezin, chief global investment strategist and director of research at BCA Research, joins BNN Bloomberg to provide an outlook for the markets. Here is a direct video link.