“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,...
“Arming proxies to fight for America’s national interests is a sound military and political strategy.” – The Lonely Realist An often-overlooked proxy war heralded America’s emergence as global hegemon. The year was 1939 and the proxy warrior was the British Empire. Great Britain had lost much...
“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...