The Martin Hutchinson Place
The Fed, the People’s Bank of China and the Bank of England are planning digital currencies linked to their currencies. Their real objective is to stop people using cash so they can create even more distorted interest rate structures. Their new constructions will thus combine the insecurities of digital currencies with the Gosplan approach to […]
The above was the supposed advice of Treasury Secretary Andrew Mellon to President Herbert Hoover after the Wall Street Crash of 1929. It was good advice, which Hoover did not follow, thus landing the country in a decade of Great Depression. However, if Mellon’s advice was good after the crash, how much more intelligent would […]
U.S. corporate earnings and the stock market in general have become divorced from reality, with corporations increasingly ignoring stockholders in favor of a politically correct “woke” agenda. This is dangerous for society and it is not capitalism. The solution is for stockholders, investment analysts and designers of tax codes to focus laser-like on dividends. Actual […]
Peter Thiel is not alone in wondering where all the major technological innovations went. From the other end of the political spectrum Chicago professor Robert Gordon wrote a best-seller “The Rise and Fall of American Growth” speculating that U.S. productivity growth is slowing to zero. Yet if you look back, from the Industrial Revolution until […]