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November 7, 2025 | The AI Boom Launches Into Space
EVOLUTION OR DELUSION? The latest big idea from the AI boom takes flight—literally. Moving artificial intelligence computation into low-orbit space might be the craziest idea yet to emerge from the AI bubble that refuses to burst. The logic is simple—and sounds insane. AI data centers devour power, and the grid can’t keep up. So, the […]
October 31, 2025 | The Bank of Canada Cuts Again But Fails To Address Housing
The Bank Cuts Again — But the Real Problem Is Housing The Bank of Canada trimmed its policy rate by 25 basis points this week to 2.25 percent, pulling Canada’s official rate well below the U.S. Federal Reserve’s 3.75 percent — also lowered this week. But don’t expect these cuts to save the economy from a recession. In […]
October 24, 2025 | China Rare Earth Grip Tightens
The global fight over rare earth elements has entered a new and dangerous phase. China holds the advantage—and Washington has few good options. In October, Beijing announced new restrictions on exports of rare earth elements (REEs). Any product containing even trace amounts of China-sourced materials could now require special approval or be denied altogether. The […]
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 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 […]
October 3, 2025 | Cut Throat Competition in China Could Spread Worldwide
China’s War on “Involution” China is cracking down on “blind and disorderly competition,” also called involution. Factories keep building too much — solar, batteries, EVs — and prices collapse. That deflation spills abroad. How low can China push prices — and who gets crushed next? Western firms know the rule: compete with China and prices only […]
September 26, 2025 | The Mag 7 are The Most Expensive Stocks Ever by a Wide Margin
Mag 7: The Most Expensive Stocks in History The top stocks in 2025 make the dot-com bubble leaders look cheap. Back in 2000, the leaders were Microsoft, GE, Cisco, Walmart, Exxon, Intel, and NTT. Today, it’s the “Magnificent 7” — Nvidia, Microsoft, Apple, Alphabet, Amazon, Meta, and Tesla. Here’s the shocker: The Mag 7 is […]
September 19, 2025 | Powell Only Has Bad and Worse Options
Powell’s Quandary: Bad and Worse Options Chair Jerome Powell of the U.S. Federal Reserve admits he is in a bind: the economy is flashing both weak job numbers and rising inflation. What’s a Fed to do? This week the Fed trimmed its policy rate by 25 basis points to 4.125 percent — still about 1.4 […]
September 12, 2025 | Bank Mortgage Lending Created The Canadian Housing Bubble
Substantial acceleration in bank mortgage lending for residential real estate was essential in creating the Canadian housing bubble. Now that the housing bubble is bursting new mortgage lending could slow or even decline. If the rate of increase in new mortgage debt slows sharply home prices will drop leading to a crash in the housing […]
August 29, 2025 | NVIDIA is Mining The AI Gold Rush
The AI boom can be summed up in one ticker: NVIDIA (NVDA), now the world’s most valuable company at $4.3 trillion; commanding a record 8% of the S&P 500. This week NVDA reported stellar results: $47B in quarterly revenue, with $41B from data centers. Most of that came from just three hyperscalers — Google, Amazon, […]
August 22, 2025 | The U.S. Stock Market is Riding High and Heading For Trouble
Riding High — and Heading for Trouble The U.S. stock market keeps climbing higher, as the warnings of a bubble about to burst get louder. The comparisons to 1999–2000 are hard to ignore. Then, it was internet stocks; today, it’s artificial intelligence. Valuations at Extremes One of the best long-term measures of value, the Shiller […]
August 15, 2025 | Canada vs. Trump: Is Confrontation The Only Option?
Canada, under Prime Minister Mark Carney, is taking a beating from U.S. tariffs. But Carney refuses to cave to President Donald Trump’s demands—raising the question: Is confrontation with the U.S. Canada’s only choice? The trade war between Canada and the U.S. intensified on August 1, 2025, when Trump slapped a new 35% tariff on Canadian goods (energy products […]
August 8, 2025 | Milei of Argentina Takes Another IMF Bailout
Argentina: Fiscal Fireworks and Another IMF Bailout Argentine President Javier Milei wants to make Argentina great again — with another $20 billion from the IMF. The bailout, approved in April, was controversial: nearly half of IMF board members were hesitant. Argentina already owes about one-third of the IMF’s total outstanding loans, and it’s defaulted nine times. But in this […]
August 1, 2025 | Powell Rebukes Trump by Delaying a Rate Cut
Powell Holds the Line as Trump Turns Up the Heat Fed Chair Jerome Powell held interest rates steady again — a direct rebuke to President Donald Trump, who has been publicly and persistently demanding deep rate cuts. Trump wants a 300-basis-point cut — a dramatic move that would drive rates back to 1.5%, where they […]
July 25, 2025 | Lofty Valuations for Tesla are at Risk
Tesla: Lofty Valuation, Slipping Fundamentals Tesla still carries a sky-high valuation — more than 100 times its projected profits. That kind of multiple has only shown up a handful of times in history, and only for a few companies. So, do the fundamentals support this kind of price? Let’s take a look. Tesla hit a […]
July 18, 2025 | China’s Auto Industry is About To Crush The Competition — and Ford’s CEO Knows It
Chinese automakers are rapidly dismantling the global pecking order—and there’s growing evidence they’re about to take the top spot. Ford CEO Jim Farley has issued a stark warning: many Detroit automakers might not survive this existential threat. Take Xiaomi’s new electric sedan, the SU7. Priced between US$35,340 and $45,995, this EV boasts specs that outclass most […]
July 11, 2025 | Tariffs Miss The Mark on U.S. Copper
Copper prices surged this week after Donald Trump announced a 50% import tariff starting August 1, aiming to boost U.S. self-sufficiency. But for copper, the move is more optics than impact — it won’t kick-start domestic output anytime soon, and manufacturers (and consumers) will foot the bill. Global supply remains constrained despite copper’s crucial role […]
July 4, 2025 | Clean Energy Reclaims Market Leadership
At the start of the year, the narrative was straightforward: fossil fuel producers stood to benefit from supportive domestic policy, while clean energy—out of favour politically and commercially—looked set to lag. Markets had priced in a resurgence in drilling, with investor consensus leaning heavily toward traditional hydrocarbons. That view hasn’t aged well. Six months on, […]
June 27, 2025 | Crude Oil Prices Barely Move After Armed Conflict Engulfs the Middle East
Why Didn’t Crude Oil Spike After U.S. and Israeli Attacks on Iran? Crude oil prices barely flinched after two shocking military strikes on Iran. On June 13, 2025, Israel launched an air assault. Days later, the U.S. stunned the world by bombing Iran’s uranium refining facilities. Yet Brent crude, the global benchmark, only managed a […]
June 20, 2025 | Israel and Iran are at War But Investors are Unfazed
The Middle East has entered yet another war, this time between Israel and Iran. The U.S. appears poised to get directly involved, on top of its already substantial role as Israel’s main backer. So far, markets haven’t blinked. The S&P 500 is still trading within 2% of its all-time high, and oil is up only […]
June 13, 2025 | Canada Doubles Down on Defense
Guest Post – Canada has long been under pressure from its NATO allies to meet the alliance’s military spending benchmark of 2% of GDP. For decades, Ottawa has lagged behind, spending roughly 1.45% of GDP on defense. But in a surprising move, Prime Minister Mark Carney announced that Canada will reach the 2% target this […]
June 6, 2025 | The TACO Trade Has Its Moment
Financial markets love an acronym and TACO or Trump Always Chickens Out, is the latest. Source: AI generated image – REDDIT It was coined by Rob Armstrong of the Financial Times on May 2 and last week gained traction among commentators to explain the recent rally in U.S. stocks. Will the TACO trade continue […]
May 30, 2025 | Trump and Musk are Headed for a Breakup
Elon Musk’s attempt to achieve clout in politics has backfired spectacularly. He has damaged Tesla’s brand with his venture into President Trump’s orbit of confidants. Musk’s version of cost-cutting, called DOGE, is now considered by many to be a failure and is no longer seen as an asset for the Republican Party and President Trump. […]
May 23, 2025 | Canadian Residential Real Estate Slump Deepens
House prices in the Greater Toronto Area (GTA) have been falling since 2022, and it is estimated that houses have lost more than 20 percent of their value compared to three years ago. Will the housing slump deepen? Vertias Research recently published charts that show the shaky status of residential real estate markets in Canada […]
May 16, 2025 | The U.S. Stock Market Needs Magnificent Seven Leadership
A group of seven leading companies — the Magnificent Seven known as Mag 7 — which has led the U.S. stock market for several years was lagging the market by a large margin in 2025, until the recently announced 90-day partial reprieve on tariffs on Chinese imports. Making up one-third of the value of the […]