ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION
September 8, 2025 | Chopping Time, Again
Happy Monday Morning! Just a couple weeks ago we learned Canada’s second quarter GDP shrank at a 1.6% annualized pace, the biggest decline since the pandemic and the first contraction in nearly two years. While roughly in line with the Bank of Canada’s forecasts, the decline was worse than expected in a Bloomberg survey […]
September 8, 2025 | Ontario Real Estate Update
The Toronto area saw the average home price drop for the seventh consecutive year-over-year decline in August. Detached home prices, down 10%, fell more than other property types. The average sales price for all property types has dropped by more than 23 per cent in the GTA (Greater Toronto Area) since the February 2022 price […]
September 7, 2025 | Is AI Changing the World?
QUESTION: Hi Martin, Considering the potential influence of AI, also taking into account the behaviour of the 80 percent that went with the COVID narrative, I was wondering. The AI is being fed by human interaction on the internet, probably somewhere else as well, but very much directed. Now that does not seem to direct to […]
September 7, 2025 | From the Archives: How Inflation Is Crushing Our Kids, In 5 Charts
An important line was recently crossed, when the wealth of America’s 1% surpassed that of its entire middle class: In recognition of this milestone — and the societal turmoil it all but guarantees — here’s a post from March of 2024 that fleshes out the thesis: How Inflation Is Crushing Our Kids, In 5 Charts […]
September 7, 2025 | Trading Desk Notes for September 7, 2025
The summer doldrums are over – tensions and volatility surge, creating great trading opportunities! Gold is at record highs, in nominal and inflation-adjusted terms. Comex gold futures are up ~38% YTD, up~100% from the October 2023 lows (blue ellipse) made just before the Hamas attack on Israel. A weaker USD (down ~12% YTD to 3-year lows) […]
September 6, 2025 | California May Reimplement Mask Mandates
Remember when peer-reviewed scientific studies proved that masking did not protect against the spread or transmission of COVID-19? California lawmakers only recall the immense power granted to them through COVID-19 mandates. On September 1, 2025, the California Department of Public Health (CDPH) issued a warning to the public–“Protect yourself and your loved ones […]
September 6, 2025 | Housing Headaches and More
We have no scarcity of economic challenges. Price inflation is high on the list, in part because we saw so little of it for so many years. Inflation’s return in 2021–2022 brought back memories for those (ahem) who lived through the 1970s. And not the pleasant kind. None of our generation wants to see the […]
September 6, 2025 | Tech Talk for Saturday September 6th 2025
The Bottom Line Responses to the August U.S. employment report released on Friday were significant. Lower than consensus Non-farm Payrolls prompted equity prices to move lower and bond prices to move higher. Yield on 10 year Treasuries dropped below support a 4.18% and 4.12% extending an intermediate downtrend. Yield dropped on growing anticipation of a […]
September 5, 2025 | No Stopping EU Needs War
Following the meeting, which was attended by Zelensky, the Petit Napoleon Macron, pushing to conquer Russia, said that 26 countries – including the UK and France – have pledged to deploy troops in Ukraine as a “reassurance force” in the event of a ceasefire. They know what they are doing. This is the prelude to […]
September 5, 2025 | Chicago Mayor Johnson Calls for Insurrection
Chicago Mayor Brandon Johnson is rallying the people to begin an insurrection, but of course, it is (D)ifferent. “Are you prepared to defend this land that was built by slaves and indigenous people?” the mayor asked, urging the people to “resist” the US National Guard, while of course, adding in divisive racial political rhetoric. Rather […]
September 4, 2025 | WTI Prices Vulnerable In The Near Term To Fall Shoulder Season Inventory Build. This Week Total Stocks Up 7.6 Mb.
WTI Crude oil prices are steady at US$63.44/b (low today US$62.72/b) compared to US$63.66/b last week at this time. President Trump’s window for Russia to agree to peace talks with Ukraine have gyrated energy prices. President Putin has invited President Zelensky to Moscow but this is not as safe as where Zelensky wanted, Switzerland. Crude […]
September 4, 2025 | Danielle on Thoughtful Money
After a year of projecting confidence in America’s “strong” and “resilient” economy, at his recent Jackson Hole appearance, Federal Reserve Chair Jerome Powell suddenly changed his tune. He expressed concern about the deteriorating labor market, saying the situation may warrant a resumption of monetary easing notwithstanding the potential inflationary risks of tariffs. This comes at […]
September 4, 2025 | Is The Deep State Killing AfD Candidates? WHY?
After touching base with numerous sources in Germany, the sudden death of SIX AfD Party candidates after the deep state of Germany sought to ban the party, and Merz refused to consider any minority government that included AfD, not a single source believes the government there anymore. Four candidates and two reserves from what the […]
September 3, 2025 | Which Housing Domino Will Fall First?
At least three big groups of homeowners have the potential to crash the US housing market. And with home prices at unaffordable levels and mortgage rates above 6%, it’s now a question of when, not if, this market tanks. But it’s still fun to speculate about which domino will be first to fall? Here […]
September 3, 2025 | Bipartisan Congress Members Hold Briefing on Bill to Stop Stock Trading in Legislature
It is wild and indefensible that insider trading by politicians remains rampant. Conflicts of interest queer policy and undermine faith and trust in institutions. And yet, will efforts to ban it ever get passed? Reasonable people hope. Here is a direct video link.
September 3, 2025 | NATO to Spend $1.5 Trillion in 2025
NATO is not at war, and yet, the alliance has spent more on funding Ukraine than on any other conflict. The Defence Expenditure of NATO Countries (2014-2025) determined that the alliance is expected to spend $1.59 trillion USD in 2025, up from $1.5 trillion in 2024. The United States continues to uphold the alliance financially, […]
September 2, 2025 | Gold/Silver Miners Are Two-Thirds Through Their Best Quarter Ever
Well-run miners — i.e., those that maintain or grow production while controlling costs — have had a great 2025 so far. Here are a few posts covering the previous quarter’s stellar earnings reports: Huge Gold Miner Earnings Season Begins This Week Killer Q2 Earnings: Why It’s Good to Own the Leaders More Blow-Out Q2 Earnings […]
September 2, 2025 | Canada’s Eonomy Disappoints
Canada’s GDP for the second quarter contracted by 1.6% on an annualized basis, following a downwardly revised 2.0% expansion in the first quarter (Statistics Canada), resulting in a total annualized growth of 0.4% for the first six months of 2025. The weakness was in line with Bank of Canada forecasts but significantly worse than the […]
September 2, 2025 | The US State Heavily Invested in Israeli War Bonds
In the United States, local governments and states often use their own budgets to purchase investment vehicles. States are permitted to invest in foreign bonds, supplementing foreign governments with public funds. One state in particular has invested hundreds of millions in Israeli war bonds—Florida. Florida has the most Israeli war bonds in the country […]
September 1, 2025 | Danielle on The Disciplined Investor Podcast
Markets react to the chance of a rate cut. Summertime lull was anything but boring. September and October await – two of the seasonally worst months for markets. And our guest – Danielle Park, Venable Park Investment Counsel Inc.
August 31, 2025 | A Philosophy of Investing
I was in Newport Beach two weeks ago doing several video interviews with David Bahnsen. At the end of the interview, he mentioned the importance of having a proper “philosophy of investing.” Time was running out so I didn’t have the ability to unpack that. As I was on a long walk back to my […]
August 31, 2025 | A Holiday Note
I am on holiday for a short while, far from Florida’s disabling seasonal heat and enjoying what so far has been the coolest, foggiest summer anyone who lives in San Francisco can remember. This is a busman’s holiday, since I am updating the actionable ‘touts’ on this page 24/7 and have been fully engaged in […]
August 31, 2025 | UK Civil War: Wow, That Escalated Quickly
A few months ago, King’s College professor David Betz caused a stir by predicting that mass immigration would lead to civil war in the UK. Since then, things have been accelerating: A court allowed the UK government to house effectively unlimited numbers of migrants in hotels, despite growing unrest in affected communities. A government study of “migrant rape gangs” concluded that they […]
August 31, 2025 | The Cycle of War & Revolution
QUESTION #1: Hi Martin, Since the international war array started picking up in 2022 but peaks in 2026 with a panic cycle, do we in fact expect a serious deflagration potentially nuclear but very short lived and closing by 2027 since it’s the peak? Would that mean a very swift demise of European stupid leaders […]
August 30, 2025 | Trading Desk Notes for August 30, 2025
The times they are a-changin’ August feels like the lull before the storm that strikes once we get past Labour Day. The meandering price action and low volatility we’ve seen may be replaced by strong directional moves and increased volatility. September is historically the worst month of the year for the stock market. The leading American […]