The Lonely Realist is a bridge across the partisan gap, raising questions and making pointed observations about politics, economics, international relations and the markets. Its goal is to raise awareness and inspire thought on controversial issues that impact America and Americans, highlighting issues that should be, but rarely are, the focus of bipartisan discussion.

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In seeking to promote dialogue, The Lonely Realist is not an advocate of conclusions or remedies. To the extent perceived biases leak into these pages, as they sometimes do, please ignore them. They are inadvertent missteps. 

  • Week in Review (April 19–25, 2025) The following Week in Review is provided for educational and informational purposes only and is not intended as investment advice.Loading the Elevenlabs Text to Speech AudioNative Player... TL;DR – Key Takeaways Markets Whipsawed by Trade Hopes: Global stocks rallied...

  • “‘America First’ means ‘America Alone.’” – The Lonely RealistLoading the Elevenlabs Text to Speech AudioNative Player... America First policy is anchored in a zero-sum world where “might makes right” and America necessarily needs to go it alone, taking whatever it wants from other countries. It...

  • Welcome to this week’s edition of The Lonely Realist Week in Review. This week saw global markets whipsawed by escalating trade tensions and cautious central bank signals. A surge of new U.S. tariffs and retaliatory moves from trading partners dominated headlines, injecting uncertainty into business...

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This Time is Different – A Redux*

This Time is Different – A ReduxLoading the Elevenlabs Text to Speech AudioNative Player… As Mark Twain reputedly said, “History doesn’t repeat itself, but it often rhymes.” Is history repeating itself today? Or is it merely rhyming? Economists and historians make their livings based on

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Cassandra and Permabearism

“Like a broken clock, permabears are right once every cycle.” – CassandraLoading the Elevenlabs Text to Speech AudioNative Player… Last week’s TLR provided a compilation of permabear pretexts that led one reader to highlight an interview from Moneywise in which Mark Spitznagel, chief investment officer

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Market Manipulation, Securities Fraud and Insider Trading*

Market Manipulation, Securities Fraud and Insider TradingLoading the Elevenlabs Text to Speech AudioNative Player… Is there such a thing as a securities law Trifecta? The Chief Executive Officer of a publicly-traded company (X Corp) is having a rough time. Sales are down. Volume is down.

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William (Bill) Natbony is The Lonely Realist, its author and originator. The opinions expressed in TLR are solely Bill’s opinions, have not been edited or reviewed, and do not reflect the views or opinions or any other person.