“America’s treasury is bankrupt.” – The Lonely Realist As Herb Stein, Chairman of the Counsel of Economic Advisers under Presidents Nixon and Ford, famously said, “If something cannot go on forever, it will stop” – Stein’s Law. America’s combination of excessive spending, too-low taxes and multi-trillion-dollar...
“A deflating crypto bubble is now hemorrhaging from Ponzi punctures.” – The Lonely Realist In July’s “Crypto Reality,” TLR noted that although crypto was devised to be a transparent, democratic, de-centralized financial technology that would overcome the burdens of traditional finance and allow investors to safely build...
“Although many pessimists hear echoes of the 1930s …, 2022 is not 1939.” – The Lonely Realist A TLR theme has been to highlight parallels between the Great Depression decade and the decade following the Global Financial Crisis (GFC). The former served as a prelude to...
“Buckle your seat belt. Change has come to American government.” – The Lonely Realist With Presidential power subject to increasing legislative and judicial constraints and with a post-midterm Congress certain to be deadlocked, a newly-empowered Supreme Court is increasingly holding the reins of government power. Its...
“The American brand of capitalism has been replaced by an American brand of socialism.” – The Lonely Realist TLR is a huge fan of laissez-faire capitalism, crediting it for America’s geopolitical preeminence, 200 years of wealth-creation and an ever-increasing American standard of living. Because America’s brand...