The Martin Hutchinson Place
President Trump’s firing of the Bureau of Labor Statistics chief Erika McEntarfer attracted much criticism, as government statistical agencies are claimed to be impartial. Such claims of impartiality should always be regarded with deep suspicion, as they generally conceal a noxious political agenda. When you look at the BLS’s statistical methods, its agenda becomes apparent. […]
President Donald Trump’s tariff agreements with the EU, Japan and other countries have changed the economics of world trade; they have also revolutionized global politics. Far from the “New World Order” trumpeted by such Marxist-globalists as Klaus Schwab, late of the World Economic Forum, we are now returning to a much healthier late-19th century existence, […]
In Japan’s recent Upper House elections, the ruling LDP-Komeito coalition under Shigeru Ishiba lost its majority (barely) but a more striking result was the success of the populist-right Sanseito party, which won 14 new seats in the Upper House. Like its German cousin AfD, Sanseito proposes a sensible mix of policies including strong opposition to […]
When Satoshi Nakamoto created Bitcoin in 2008, it was not a scam but a very ingenious, potentially useful new invention, largely because of the “blockchain” by which transactions could be recorded in permanent form. When I spent six months in late 2017 recommending crypto-currencies for an investment service (very successfully, being fortunate indeed in my […]
Wall Street trading titan Jane Street was last week banned from trading in India, having made a $5.2 billion profit from options trading apparently mostly at the expense of Indian retail investors, according to a Financial Times report. Jane Street, a trading house with $20.5 billion of net trading revenues in 2024, is an extreme […]
Recent U.S. employment figures have seen a rise in the native-born workforce, a decline in the immigrant workforce and a rise in real wages. Some companies seem to have noticed – Home Depot’s $5.5 billion acquisition of the building supply contractor GMS indicates a move towards the contractor market, whose distribution pattern is less labor-intensive […]
I am currently a modest shareholder in Northern Dynasty Minerals Ltd. (NYSE:NAK) a company sitting on a huge copper/gold deposit on the south coast of Alaska that has been stymied from developing it for half a decade through Federal environmental holdups – an incredible waste of resources. Yet mergers that agglomerate businesses into ever larger […]
As Israel starts a war with Iran, and the U.S. considers how deeply involved it wants to get, one lesson from history is abundantly clear. Wars cost hugely in direct physical devastation, yes, but they also have a huge hidden economic cost, in distorting the market and encouraging policymakers to seize further power and narrow […]
When you look at the arc of global industrial progress and the emergence of new technology, one decade stands out: the 1880s. That decade saw the arrival of electric light and power, which revolutionized everyone’s lives. It also saw the automobile, the safety bicycle, the first process for large-scale aluminum production, the Hollerith tabulating machine, […]
President Trump has proposed to privatize the two housing finance agencies Fannie Mae and Freddie Mac, now in public ownership after their collapse in 2008. While the fisc might benefit in the short term from such a deal, the risk to taxpayers of a second collapse and bailout is high, for risk correlation reasons I […]