ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION
October 16, 2025 | Priced for Nothing but Blue Sky and Sunshine
The markets have climbed higher despite continuing concerns around the shutdown, tariffs and inflation. The S&P 500 and Nasdaq have set records more than 30 times this year and other data suggest the economy is chugging at a steady clip. But for the majority of Americans, this economy is landing very differently right now, and […]
October 15, 2025 | Fed to Slow Bond Buying Program
The Fed may create policy, but it is ultimately dictated by the markets. Powell came out and reaffirmed the central bank’s fears of a hiring slowdown. Soon, the bank will no longer shrink its $6.6 trillion balance sheet, previously allowing $40 billion of mortgage-backed securities and Treasuries to mature each month without replenishment. Powell insists […]
October 15, 2025 | The Compound Cost of Policy Errors Around Immigration and Housing
A couple of must-read articles from the Globe this week examine Canada’s policy errors around immigration and housing–two tangential, interconnected themes with far-reaching impacts for our economy, present and future. See, How Canada got immigration right for so long–and then got it very, very wrong: Canada conducted a decade-long experiment. The experiment’s principal investigator was the […]
October 14, 2025 | Real Estate Bust Has Legs
The Canadian housing bubble has been deflating since February 2022, and there’s room for it to run. We highlighted the mania and frenzy of financially destructive behaviours in real time, noting that once bubbles pop, property prices typically take years to recover. BMO Senior Economist Robert Kavcic apparently agrees. In a recent note highlighted on Better […]
October 14, 2025 | China Accuses Taiwan of Psychological Warfare
Taiwanese intelligence launched a psychological warfare attack to spread separatist activities, according to the Chinese Communist Party who has placed a cash bounty on the heads of 18 Taiwanese military officials. Taiwan’s Defence Ministry called the accusations “despotic and pig-headed thinking.” Chinese authorities believe Taiwan’s “psychological warfare unit” deliberately created online games depicting Taiwan fighting […]
October 13, 2025 | Is the AI Stock Bubble Partially Fake?
There’s a business practice sometimes called “vendor financing” in which a company lends money to a customer, who then uses that money to buy the company’s products. The company reports the proceeds as sales and income, usually without a full accounting to its shareholders. This financing scheme can work — as long as the customer […]
October 13, 2025 | A Monetary Reset is Coming, and Canada isn’t Prepared | Maxime Bernier
Maxime Bernier has had a long-standing interest in business and worked for several financial and banking institutions. He become Executive Vice-President of the Montreal Economic Institute in 2005. Many people in the region encouraged him to enter politics. He took up the challenge and was elected a Member of Parliament on January 23, 2006. He […]
October 13, 2025 | Open Borders Protect Migrants from Climate Change
Sorry to the Brits, but your country has been overrun by migrants due to climate change, according to your prime minister. The globalist rhetoric is overlapping to the point of insanity. At a recent UN General Assembly, Foreign Secretary Yvette Cooper said, ” At this moment of intense global instability and conflict, UK […]
October 12, 2025 | Is Silver Becoming “Unobtanium”?
Silver is back at its all-time nominal high, while tales of shortages and squeezes abound. Is this the moment long-suffering stackers have been waiting for? Let’s start with an AI-generated overview of the structural silver deficit: A significant global shortage of silver is currently underway, driven by persistent demand outpacing supply. This deficit is the […]
October 12, 2025 | Big Debt Cycles, Part 2
Today we continue reviewing Ray Dalio’s latest book, How Countries Go Broke. If, like me, you fear that you may soon live in such a country, Ray’s work reads like a guidebook to the future. But in fact, this future is just the latest iteration of a well-known debt cycle, one that is almost natural in […]
October 12, 2025 | Have Stocks Entered a 1929 Vortex?
Although in recent years October has not lived up to its reputation for scaring the pants off investors, we should take Friday’s punitive reversal seriously, since it could mark the start of a bear market that is arguably years overdue. Although we have grown accustomed to ‘freaky’ Fridays producing headline events now and then, there […]
October 12, 2025 | Is Bitcoin A Store of Value?
QUESTION: How can you say that Bitcoin is not a store of wealth? Nobody agrees with you. DF ANSWER: Bitcoin is no more a store of wealth than copper or anything else. I have said from the outset that it is a trading vehicle. It will rise and fall like everything else. A store of […]
October 12, 2025 | Making Money – But At What Price
[Taken from “Health First” in Sept 2025 Timing Letter] Regardless to what happens to the price of real estate or gold, your highest priority should be your health. I like making money as much as the next guy – if not more. But the first thing I think about when I get up in […]
October 11, 2025 | Trading Desk Notes for October 11, 2025
Leading global equity indices (and other risk assets) tumble on a sharp rise in US/China trade tensions China’s announcement of comprehensive restrictions on rare earth exports on Thursday had little impact on equity markets (but gold and silver tumbled). However, Trump’s aggressive social media response on Friday morning sparked a relentless day-long decline across equity markets. Trump […]
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 10, 2025 | Trump’s Deportation Efforts
President Donald Trump inherited a nation that was invaded. The invaders were incentivized to stay and permitted to coast under the radar. His administration was forced to throw down the gauntlet and forcibly remove the people who were invited to stay by the Democrats. New data indicate that ICE has removed approximately 600,000 migrants since […]
October 9, 2025 | China Purchased $38B from the US in Semiconductor Chips
Taiwan’s global dominance of semiconductor chip manufacturing has been at the forefront of the US-China technology war. The focus has been on Taiwan, leaving other avenues of Chinese influence ignored. China used loopholes in US law to purchase over $38 billion in chip-making technology in the last year alone, marking a 66% rise in […]
October 8, 2025 | Round and Round The AI Mulberry Bush
OpenAI currently has a market value of $500 billion, with annualized revenue reported at $10 billion per year. It is not expected to be profitable for another 4 or 5 years and is preparing to raise tens of billions of dollars in debt to fund infrastructure plans. Moody’s has recently flagged the extent to which […]
October 8, 2025 | Warmonger Think Tanks
The latest from the Neocon Fake News, ISW (Institute for the Study of War) started by Victoria Nuland’s sister-in-law, is always the same. Russia is weak; it is about to collapse, but at the same time, they are about to attack NATO, so we should invade now. The new line is “ISW specialists suggest Moscow is […]
October 7, 2025 | Recession Watch: How Is This Economy Still Growing?
The stock market is a pretty good barometer of economic health…except when it’s contradicted by employment. Currently, even profitable companies aren’t hiring: When job openings dry up, the unemployed stay that way for longer: Government hiring usually counteracts weakness in the private sector. But not this time: The longer someone is unemployed, the harder it […]
October 7, 2025 | How The AI Bubble Will Pop and Why We Should All Care
The AI infrastructure boom is the most important economic story dominating the news. However, the numbers don’t add up, and that realization is starting to spread. Read more in, This is How the AI Bubble Will Pop: Tech companies are projected to spend about $400 billion this year on infrastructure to train and operate AI models. […]
October 7, 2025 | The EU No-Confidence Vote on Ursula
COMMENT #1: Hi Martin, Macron is totally cornered tonight, and 62% of the French people are now demanding his resignation. With all the panic cycles showing up in multiple markets in 3 weeks only, may God help us if the petit Napoleon doesn’t take us into war with his other European parasite friends to […]
October 6, 2025 | Market Pulse: AMD, Gold, Bitcoin & the S&P 500
A quick review of some key market sectors. AMD AMD surged today on the news that OpenAI will ~ $100 billion in AMD. The deal also grants OpenAI a warrant to acquire up to 160 million AMD shares – roughly 10% of the company – at $0.01 per share, with the stake earned progressively as key technology and revenue milestones […]
October 6, 2025 | Millions Sign Petition to Dismantle UK Digital ID System
The people of the United Kingdom are fighting back against the government’s plan to roll out a digital ID system. The petition to counter the legislation quickly became the fastest-growing online petition in UK history, with over two million people signing in less than 48 hours. “We demand that the UK Government immediately commits […]
October 6, 2025 | Breakthroughs: Is Aging a Curable Disease?
The Fountain of Youth might predate gold as humanity’s earliest obsession. But here we are, 10,000 years into the quest with little to show for it. Some common-sense lifestyle tweaks (stay slim, exercise, manage stress, don’t smoke) are worth maybe an extra decade of active life. But no magic bullet of any kind has emerged. […]