Tag Archives: Featured

This wholesale transfer of risk from elites to the workers is finally becoming consequential as wealth / income / security inequality is reaching extremes that are destabilizing society and the economy. One of the most consequential financial trends of the past 50 years has been ignored to the point of invisibility. I’m referring to the transfer of risk from the top tier to the middle and working classes. This transfer of risk has been broad-based, covering the...

Sixteen months ago, in March 2020, we argued for an end to government-imposed shutdowns of businesses, schools, churches, restaurants, and events due to the covid virus: The shutdown of the American economy by government decree should end. The lasting and far-reaching harms caused by this authoritarian precedent far outweigh those caused by the COVID-19 virus. The American people—individuals, families, businesses—must decide for themselves how and when to reopen...

04.08.2021 – The hotel sector registered 11.4 million overnight stays in Switzerland in the first half of 2021, representing an increase of 14.3% (+1.4 million) compared with the same period of 2020. With a total of 9.2 million units, domestic demand rose by 55.3% (+3.3 million). Foreign visitors registered a 45.4% decrease (–1.8 million) with 2.2 million overnight stays. These are the provisional results from the Federal Statistical Office (FSO). . Download press...

When we saw the following comment from a prominent otherwise-free-marketer, we knew it was time to write this article. “…the value of the Fed’s “liabilities”(which are so in name only) [scare quotes and parenthetic comment in original] bears only a very loose connection to the value of its assets.” This statement seems so simple. The Fed is the issuer of America’s and the world’s reserve currency (mainstream pronunciation “muhn-ee”). Observing that this paper has...

Respondents thought reducing driving was necessary – for other people Keystone / Urs Flueeler A majority (70%) of Swiss believe it’s important to avoid emissions in their everyday lives, although fewer are likely to back up their views with action, according to a survey. There were no significant differences between women and men, but the over-50 age group believed it was more important to avoid emissions than younger age groups, said a surveyExternal link by...

Doughty, courageous little Rhode Island was the last state left. It is generally assumed that—even by the most staunchly Antifederalist historians—Rhode Island could not conceivably have gone it alone as a separate nation. But such views are the consequence of a mystique of political frontiers, in which it is assumed that a mere change in political frontiers and boundaries necessarily has a profound effect in the lives of the people or the validity of a territory or...

Stop me if you’ve heard this before: About US$275 billion (about SDR 193 billion) of the new allocation will go to emerging markets and developing countries, including low-income countries. This from the IMF’s July 30, 2021, statement gleefully announcing its governing body(ies) has(d) agreed to a general allocation of $650 billion in SDR’s, biggest in history, according to existing quotas. The purpose: “to boost existing liquidity.” This really does sounds very...

02.08.2021 – The consumer price index (CPI) fell by 0.1% in July 2021 compared with the previous month, reaching 101.0 points (December 2015 = 100). Inflation was +0.7% compared with the same month of the previous year. These are the results of the Federal Statistical Office (FSO).The decrease of 0.1% compared with the previous month is due to several factors including falling prices for clothing and footwear due to seasonal sales. The prices for air transport also...

Almost 8% of Swiss residents over the age of 15 rode mountain bikes. Keystone / Laurent Gillieron Numbers engaging in outdoor activities like walking, cycling or mountain biking continued to rise in Switzerland in 2019, the Federal Office for Roads (ASTRA) has reported. This is also good news for the economy. Some 57% of Swiss residents labelled themselves as walkers in 2019, going on an average of 15 walks per year for an average of three hours each, ASTRA said in a...

The “Fear Of Missing Out” has infected retail and hedge funds alike as they ramp up exposure to chase performance. We have previously discussed the near “mania” of retail investors taking on exceptional risk in various manners. From increasing leverage, engaging in speculative options trading, and taking out personal loans to invest, it’s all evidence of overconfident investors. However, that “risk appetite” is not relegated to retail investors alone. Professional...