Every day is Purim

March 18, 2016
The world has undergone Purimization, so that we live in a Purim spiel all year long. Criminal activity is ignored, criminals are applauded, while honest people are penalized for saving money and not borrowing to spend. We pay borrowers for lending them money and want inflation and oil prices to go up. No wonder the choice is between Achashverosh and Esther.

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Bern, baby, Burn

March 11, 2016
The American presidential election is the mega-event of the year, trumping all other news — because it presages a turning-point in American and world history. The revolutionary nature of this change became apparent in Michigan this week, when Bernie Sanders succeeded in overturning Hilary Clinton’s massive lead to win the Democratic primary. But what will Sanders’ supporters do when their man fails to became the candidate?

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March 4, 2016
There is a worldwide war against cash underway, driven by government and central banks. They say it’s directed against organized crime, terrorists and other bad guys. In fact, it’s part of the effort to drive interest rates to negative levels and prevent ordinary people protecting themselves by holding cash.

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February 25, 2016
In May 2017 — a mere fifteen months from now — the world may find itself with Donald Trump as president of the US and Marine le Pen as president of France, while Britain will have voted to leave the EU. Scenarios that were inconceivable until very recently are now conceivable and may soon become likely. Will the Establishment, in the US and elsewhere, fight back or simply adjust to a new reality?

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What isn’t clear?

5 February, 2016
The global economy is sinking into deflation, which is being generated in emerging markets, especially China, and exported to developed markets. The efforts of central bankers around the world to fight this process through massive monetary expansion is plainly failing , but the official response is simply to try more of the same. No wonder confidence is collapsing in one country after another.

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