“The canaries have stopped singing.” – Cassandra “The canaries are nervously pacing their cages.” – The Lonely Realist Cassandra’s warnings in prior TLRs presaged today's widely-held conclusion that the global economy has passed a tipping point. The failures of Silicon Valley Bank, Credit Suisse, First Republic and...
"SVB's excessive duration risk punched a government bailout ticket.” – The Lonely Realist The recent failure of Silicon Valley Bank (SVB) spotlights fatal flaws in America's banking system. America's bankers (as well as its uninsured savers) are being rewarded rather than punished for mismanaging their risks,...
“America’s leading politicians continue to play to their populist minorities.” – The Lonely Realist A recent NBC news poll found that 71% of Americans believe the country is headed in the wrong direction, the highest sustained level of pessimism in 30 years. A similar majority of...
“It may seem that America has experienced major changes over the last four years, but the reality is that the more things appear to have changed, the more they’ve stayed the same.” – The Lonely Realist Today marks the beginning of TLR’s fifth year. With more...
"Never invoke the gods unless you really want them to appear. It annoys them very much." -- Gilbert K. Chesterton TLR over the last four years has repeatedly looked to Cassandra to provide insights into some of the more challenging issues facing America. For example, in...