Juan Manuel Merchan is a Colombian-born American judge and former prosecutor. Most curious, he is NOT a formal judge, he is ONLY an acting justice of the New York State Supreme Court in New York County. How did a former prosecutor who is NOT a formal judge get assigned this case? This is not just […]
Some people have a very hard time understanding that we are in a massive deflationary spiral; they think that rising prices simply means it is inflation and not deflation. Then they mistake stagflation for deflation and wonder why people are spending more on less. They only see prices, not disposable income, and certainly not economic […]
President Donald Trump March 19, 2020 White House 1600 Pennsylvania Ave, NW Washington, DC 20500 Dear Mr. President, As an economist with a proven track record, I have been called in by former presidents, world leaders, and central banks around the world during crises since 1985. I was summoned for help during […]
Former President Donald Trump was found guilty of 34 felony counts of falsifying business records, as a jury of 12 unanimously returned their verdict on May 30 after two days of deliberation. With this result, President Trump becomes the first ever American president to be convicted of a crime. Of course, he will appeal a […]
What completes a phase transition? Simple — capital inflow to the United States. For example, when oil was in the $10 range in 1998, we forecast that oil would rise to $100 by 2007.15. In court, the Department of Energy wanted us to develop a model, but Alan Cohen of Goldman Sachs blocked that project. […]
The earth’s climate is anything but regular, with every year a repeat of the last. The White Earth Effect is the realization of what would happen if the earth was entirely covered in snow and ice. The bottom line is that the Earth would then reflect the sunlight rather than absorb it, and hence, the […]
The primary difference between mutual funds and ETFs (exchange-traded funds) is that while an open-end mutual fund is priced once based upon the market closing, ETFs, as well as closed-end mutual funds trade all day. This actually goes back to the Panic of 1966 when mutual funds were open-ended but traded on the exchange and […]
All those investigating cycles within the economy made a simple mistake. Kondratieff followed agriculture/commodity prices when agriculture accounted for 70% of the GDP pre-19th century. That only began to decline from 1850 forward, dropping to 40% by 1900 as the Industrial Revolution emerged with the invention of the steam engine. Moreover, aside from climate impacting […]
Economics is well known for rather unrealistic theories based upon fundamentally unsound principles, such as the assumption that all things remain equal. Reality parts with academics whenever such assumptions are drawn to a foregone conclusion. However, greater false assumptions, which go unnoticed, lie at the foundation of so many theories in economics – primarily the […]
Japan has recently condemned US neocons for speaking favorably of nuclear war. The United States was the first nation to use an atomic bomb during a war, hitting the Japanese cities of Hiroshima and Nagasaki on August 6 and 9, 1945. Nearly a quarter of a million people were instantly killed, while countless others suffered […]
