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SWISS’s turnover totalled CHF5.3 billion last year, the airline announced on Thursday KEYSTONE/© KEYSTONE / URS FLUEELER Swiss International Air Lines (SWISS) saw record operating profit last year following a return to pre-pandemic revenue levels. SWISS’ turnover totalled CHF5.3 billion ($6 billion) last year, the airline announced on Thursday, a significant increase on the previous year’s CHF4.4 billion, and a return to 2019 levels for the first time since...

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The few winners of global recession will use the decline as a means to break the chokehold of unproductive BAU elites. That the global economy is slipping into recession is self-evident. What's not yet known is the eventual depth and length of the recession. Given that the extreme policies needed to avoid recession over the past 15 years have reached extremes that are now the problem, not the solution, there won't be any more fiscal-monetary "saves" this time...

The US Supreme Court released its ruling on Trump v. Anderson this week and unanimously slapped down the Colorado Supreme Court which had tried to disqualify candidate Donald Trump from the Colorado ballot using section 3 of the Fourteenth Amendment to the US constitution.The US Supreme Court's ruling was so baseless in law that even the most Left and partisan members of SCOTUS joined the majority in declaring the Colorado ruling null and void. The case had been...

[This article was first published in the New York Sun.]“Who will guard these guardians?” That poser of Juvenal, satirist of Rome, is an immortal question — nowhere more pertinent, though, than in deciding who should oversee the Federal Reserve. In the Fed, we have supposed guardians of stable prices who have decided by themselves to create perpetual inflation.Just to mark the point: Guardians of the currency have  decided by themselves to depreciate it forever....

Senior Fellow Alex Pollock drew my attention to an important quotation by Smedley Butler: 1935 speech and later a book by Major General Smedley D. Butler (USMC), includes  “… A racket is best described, I believe, something that is not what it seems to the majority of people. Only a small “inside” group knows what it is about. It is conducted for the benefit of the very few, at the expense of the very many. Out of war a few people make large fortunes. … If we put...

Share: The US Dollar trades softer across the board on Wednesday.  US Federal Reserve Chairman Jerome Powell is heading to Capitol Hill for his semi-annual testimony.  The US Dollar Index snaps an important support, looking bleak ahead of the ECB decision and NFP data. The US Dollar (USD) is facing some firm selling pressure on Wednesday...

The Swiss Franc edges lower against the US Dollar on the back of relatively low inflation in Switzerland, which indicates interest rates remaining low.  SNB’s Jordan says Swiss Franc rising in real terms is hurting Swiss exporters, SNB unlikely to pursue CHF-strengthening policies.  USD/CHF hits resistance at falling trendline, 50-week SMA.  The Swiss Franc (CHF) edges lower against the US Dollar (USD) on Wednesday as traders continue to bet on a less-inflationary...

Stoked by ultra-loose monetary policy from the Federal Reserve, capital markets have been in a persistent bubble for several years. Printing trillions of new dollars and maintaining a zero-interest rate policy (“ZIRP”) was marketed by politicians and bureaucrats as supportive of the “main street economy,” but those trillions were directed primarily towards speculation in capital markets. Nowhere was this malinvestment more apparent than in apartment investing. After...

On Thursday evening, President Joe Biden is set to give his third State of the Union address. The political press has been buzzing with speculation over what the president will say. That speculation, however, is focused more on how Biden will perform, and which issues he will prioritize. Much of the speech is expected to be familiar.The story Biden will tell about what he has done as president and where the country finds itself as a result will be the same dishonest...