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January 19, 2018 | After the Next Crash

BALTIMORE – What’s that in the distance? It looks like a cloud of dust barely visible on the horizon. It’s the relief column, sent from Ft. Fed! Hooray! —   Confidence of the Damned And yes, it is still a long way off… As far as anyone can see, there’s no need for relief now. […]

January 18, 2018 | An “Extreme Warning” From Our Doom Index

BALTIMORE – When we left you yesterday, we were describing why the situation is getting dangerous for investors, and how the lessons learned over the last 30 years may backfire in the next crisis. “Dow over 26,000… bitcoin under $10,000,” reports this morning’s news… “but could crypto panic spill over into stocks?” Investors are accustomed to […]

January 17, 2018 | Stocks Could Fall 80% From Here

BALTIMORE – Like a “Closing Out Sale” that never seems to end, people are beginning to think that this “Stock Market Surge” may not be totally on the level. Unlike an honest bull market, it may never end…   —   Classic Top? But in many ways, it looks more and more like a classic […]

January 16, 2018 | Sex, Lies, and Alfalfa

BALTIMORE – Our main man in Argentina, Pancho, came to Baltimore last week. Dapper and charming, Pancho has become more than just an administrator for the ranch. He has become a trusted advisor to the family.   — We began the conversation by explaining why we needed his advice: “Pancho, you come from one of […]

January 15, 2018 | Our Modest Contribution to “Sh*thole Theory”

BALTIMORE – We recently had our DNA checked. Unsurprisingly, it showed that we are what we thought we were – Irish, English, and Scottish. But we are something more. In addition to the Irish riffraff, English aristocracy, and Scottish bagpipers nesting in our family tree, there are, apparently, some Moors in there, too. “North African” […]

January 12, 2018 | Bonds Are Flashing a Red Alert

BALTIMORE – “Investors Prepare for Inflation,” warned the front page of The Wall Street Journal on Wednesday. “Rising Treasury Yields Ripple Through Markets,” it added on Thursday. “U.S. Treasurys lead bonds sell-off,” the Financial Times piled on, “as investors fear a faster retreat from crisis stimulus. These headlines may herald the biggest financial turnabout in 35 years. Stocks are […]

January 11, 2018 | More Win-Lose Flimflam

BALTIMORE – “Tax Law’s Effect Fuels Farm Outcry,” read one Wall Street Journal headline yesterday. “A provision inserted into the tax code during Senate and House negotiations in December…” begins the descriptive paragraph. Who inserts a provision? A selfless citizen serving the interests of the public? An earnest congressman with no thought to his own career? A […]

January 10, 2018 | History Proves It – You Can’t Drain the Swamp

BALTIMORE – We now have a great treasure trove of historical research proving that… …you can’t drain the Swamp! It’s almost impossible. The process is well documented. The rich get richer. And richer. And richer. The Swamp gets deeper. And deeper. And deeper. Then, suddenly, a “leveling” comes along – plague, war, revolution… or the […]

January 9, 2018 | Oprah for President?

BALTIMORE – Donald Trump has shown the way… He’s revealed the White House as the No. 1 showbiz gig. Now, others want to get in on the act.   R —   Oprah for President! The latest reports tell us that Oprah might run for president in 2020! On Sunday night in The Beverly Hilton, […]

January 8, 2018 | Punched in the Face by a Dear Reader…

The men the American people admire most extravagantly are the most daring liars. – H.L. Mencken We were taken aback by some dear readers’ anger last week. Conservative… liberal… Republican… Democrat – readers were almost unanimous. They didn’t appreciate the mocking tone in which we described our president and his role in the U.S. government. To the […]

January 5, 2018 | Cryptos Are in Fin de Bubble Mode

BALTIMORE – The big news today is that the Dow has hit a new record of over 25,000. We’ll get to that in a minute… we’re still looking over our shoulders at last year’s performance. Let’s see, the top-performing U.S. stock market sector last year was technology. An investment in the top 100 Nasdaq stocks […]

January 4, 2018 | Thank You, Mr. President

BALTIMORE – We owe Donald Trump a hearty and sincere “thank you.” Not only did he save us a lot of money (see below)… but he also helped us better understand how government actually works. What “The Donald” understood better than the professional politicians was that democratic politics is basically a form of entertainment. It’s […]

January 3, 2018 | How The Feds Robbed the Working Stiff

Back in grade school, a teacher once told us that “anybody can grow up to be president.” In 2017, Donald Trump proved it. In high school, we learned that “anything can be used as money.” In 2017, bitcoin proved it. (In yesterday’s Wall Street Journal, a full-page ad offered a house in the Caribbean for 400 […]

January 2, 2018 | The Three Most Remarkable Surprises of 2017

BALTIMORE – Our work here at the Diary is to connect the dots. And we begin connecting the dots of 2018 by looking over our shoulder at the brightest dots we connected last year. Three remarkable things happened in 2017…   —   One for the History Books The first new form of money in 4,000 years […]

January 1, 2018 | Three Simple Habits For Building Long-term Wealth

Today, three basic skills for building long-term wealth… prompted by some reader feedback. We receive emails from readers every day. You can contact us at [email protected] We can’t respond to all of them, of course… but we think about them a lot.   — We got two particularly interesting emails. One was from a woman […]

December 29, 2017 | The Baby Boomer Survival Guide – Part 2

Money is our beat at the Diary. But money means nothing without philosophy. Beyond what we need to survive, money has no importance. Is it good? Is it bad? It depends. We need a simple philosophy to make sense of it – to guide us past the Gucci bags… past cable TV… and past the million-euro […]

December 28, 2017 | The Baby Boomer Survival Guide – Part 1

What should you do if you are running out of time and money? This is the question we get from readers over 50… over 60… and sometimes over 70. We baby boomers were famously saying “Na… na… na… Live for today.” Now, it’s tomorrow. And many of us – often through no fault of our […]

December 22, 2017 | Why Are Americans Dying Younger?

BALTIMORE – “U.S. Lifespans Fall Again,” was the headline in The Wall Street Journal yesterday. The accompanying reportage tells us that the average American now lives a month or two less than he did in 2015. What to make of it? How could the greatest economy in history shorten its citizens’ lives? Where’s the payoff from Obamacare, miracle […]

December 21, 2017 | The End of the World as We Know It

BALTIMORE – In all the excitement surrounding the passing of the GOP tax bill, we almost missed it. But on Tuesday, as stocks rose to a record high in anticipation of a huge payoff to corporate America, bonds fell. The yield on the 10-year Treasury note (which rises as the bond price falls) rose to […]

December 19, 2017 | How The Fed Pulled Off History’s Greatest Larceny

BALTIMORE – We attended a family wedding in Nicaragua over the weekend. Asked to make a little speech, we opined on the differences between men and women, and the sacred role of marriage… the ultimate and most ancient win-win deal. As for the more profane matters, we noted that whenever young men get together today, the […]

December 18, 2017 | Eight Axioms to Understand the Fake Economy

DELRAY BEACH, FLORIDA – What have we learned so far? Let’s spell it out as a series of axioms.   —   Real money must be connected to the real economy of energy, time, and resources. Traditionally, gold makes the connection. (In the case of bitcoin, electricity is the connector.) Time, energy, and resources are […]

December 15, 2017 | How the Feds Doomed the Economy

RANCHO SANTANA, NICARAGUA – “This area is going to grow for a long time,” said a real estate agent yesterday. We’ve been looking at property for sale. We like it down here in Nicaragua. And we have a feeling the agent is right. This could be like Florida in the 1920s – bubbly, but still […]

December 14, 2017 | How the Fake Boom Ends

RANCHO SANTANA, NICARAGUA – As we outlined yesterday, Americans are richer than ever. U.S. household assets stand at $97 trillion. All over the world, “wealth” is surging, too… with the value of global stocks near a record high of $100 trillion. But there’s a hitch: We allege that this wealth was built on fake money. If […]

December 13, 2017 | Fed Begins its March to Doom

RANCHO SANTANA, NICARAGUA – This is a big day in Washington. First, the pols will welcome the new senator from the great state of Alabama. As every sentient being on the planet now knows, Roy Moore lost. Too bad his opponent couldn’t lose, too. Second, and more pregnant with mischief, Fed chief Janet Yellen will […]

December 12, 2017 | Bitcoin: Just a Game

RANCHO SANTANA, NICARAGUA – Yesterday, we wrote about business as usual. Despite the sound and fury of the last 12 months, nothing much has changed.   —   Headed for Bankruptcy The U.S. is a little further advanced toward the final stages of becoming a degenerate empire. Saddled with the cost of keeping its legions all […]

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