ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION
December 16, 2025 | Is the Trillion-Dollar AI Boom a House of Cards?
The AI House of Cards: Why Today’s AI Boom Could Unravel Fast Wall Street is all-in on AI, with trillion-dollar expectations pushing tech stocks to extreme valuations. Oracle’s recent claim of a $523 billion cloud backlog – largely tied to AI infrastructure – perfectly captures the excitement. Big deals with OpenAI, Nvidia, and Meta sent […]
December 16, 2025 | All In and More
US job growth remained sluggish in November, and the unemployment rate rose to a four-year high of 4.6% (Bureau of Labor Statistics data out today), up 120 basis points (bps) from the April 2023 low of 3.4%. A 120-bps rise in the US unemployment rate has never occurred in the post-war era without a recession […]
December 16, 2025 | US Homeland Security Rescues 62,000 Unaccompanied Minors from Trafficking
Mass migration through open border policies is inhumane. I may often focus on the economic implications, but it is crucial to understand how these policies have destroyed the very people they claim to protect. Thousands of men, women, and children have died in their attempt to reach the West. Unaccompanied minors have gone […]
December 15, 2025 | Thirty Year Highs
Happy Monday Morning! As expected, the Bank of Canada held rates this past week. The relatively mundane presser could be summarized in one paragraph from Tiff. “If inflation and economic activity evolve broadly in line with the October projection, Governing Council sees the current policy rate at about the right level to keep inflation close […]
December 15, 2025 | BIS Warns on Rare Simultaneous Bubble in Stocks and Gold
The Bank for International Settlements (BIS), the central bank of central banks globally, warns in its December 2025 Quarterly Review that a rare, simultaneous bubble in the price of stocks and gold has increased financial risks and the prospect of a significant correction and negative or subdued future returns: A widely used statistical test to detect the […]
December 15, 2025 | Compound Interest Is Devouring the Federal Budget: It’s Time to Take Back the Money Power
from Scheer Post Albert Einstein is often quoted as saying that compound interest is “the most powerful force in the universe.” The quote is probably apocryphal, but it reflects a mathematical truth. Interest on earlier interest grows exponentially, outrunning the linear growth of revenue and eventually consuming everything. That is where the United States now […]
December 15, 2025 | Porsches Deactivated Across Russia
Porsche owners across Russia were unable to start their vehicles without warning. The German automaker claimed the sudden immobilization was due to an issue with the Vehicle Tracking System, a satellite security feature intended to protect against auto theft. In reality, Porsche admitted to the world that automakers have the ability to control modernized cars […]
December 14, 2025 | Conviction, Guts Finally Paying Off in Bullion
Just one more push could exhaust a bull market that is coming up on its seventeenth year. Although that’s only about three dog years, it equates to about 120 human years. In fact, no other bull market has lasted even remotely that long. The next-oldest, birthed at the low of the October 1987 Crash, was […]
December 14, 2025 | EU Not Included in New G5
REPLY: Of course, I am use to being blamed for everything. The EU is the enemy because it is imploding economically. They reject peace because they need war as a distraction. Kill the messenger as always. Zelensky is pushing the EU off a cliff – not me. This is why the EU is becoming so […]
December 14, 2025 | Global Debt Addiction
often describe debt as “future spending pulled forward in time.” It can be good if you’re using the debt productively. All too often, people don’t. Nor do governments. Note I said “governments” in the plural. I write often about the giant and growing US federal debt, much of which is not being used productively. But this […]
December 13, 2025 | Trading Desk Notes for December 13, 2025
Brief notes today – lots of charts The S&P surged on Wednesday and Thursday after the not-so-hawkish (?) cut from the Fed, nearly making a new record high, but slipped lower overnight Thursday and tumbled on Friday as traders seemed to have “second thoughts” about AI. The “second thoughts” about AI were more pronounced in the […]
December 13, 2025 | The COVIDIOT
December 13, 2025 | Tech Talk for Saturday December 13th 2025
The Bottom Line The TSX Composite Index has just entered its strongest period of seasonal strength in the year relative to the S&P 500 Index. During the past 20 periods from December 14th to March 3rd, the TSX Composite Index has outperformed the S&P 500 Index by 2.7% per period.
December 12, 2025 | Recession in 2026 Will Make The Fed Cut Rates Further
The Fed’s 2026 Outlook: Recessionary Signal or Inflationary Pause? The Federal Reserve recently cut the official interest rate by a modest 25 basis points. Faced with general economic weakness, rising unemployment, and the delayed inflationary impact of tariffs, the central bank is walking a tightrope. Will we see more aggressive cuts in 2026? That depends […]
December 12, 2025 | The Gold/Silver Bull Market, in Seven Charts
Incrementum — source of great gold/silver charts — just posted some new ones that illustrate the epic nature of this bull market. Here are seven, and the stories they tell: Gold in This Century The following chart shows what would have happened if we had bought gold at nearly any time in this century. The […]
December 12, 2025 | The EU and Canada Collaborate on Digital IDs
The latest agreement between the European Union and Canada to collaborate on mutually recognized digital IDs is simply another step in what I have been warning about for years. Whenever government confidence collapses, the political class tightens control. Digital ID is not about convenience; it is about tracking capital and controlling movement as the […]
December 11, 2025 | Hawkish Members Outnumbered – Fed Cuts Rates for Third Consecutive Time
The Federal Reserve was divided this December; hawkish members of the FOMC were outnumbered, and the central bank approved its third consecutive cut of 2025. “We’re in the high end of the range of neutral,” Federal Reserve Chairman Jerome Powell added. “It″s so happened that we’ve cut three times. We have we haven’t made […]
December 10, 2025 | Why the Fed’s Cuts May Not Boost Stocks – Long Term
Today’s Federal Reserve’s decision to cut interest rates and restart Quantitative Easing (QE) places it on a path of ‘easy money’ that is increasingly isolated globally. While the Fed focuses on protecting employment, the global financial system is signaling major inflation concerns, a trend that longer-term could threaten the stock market. Warning Signs Global Banks Stand […]
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 […]