Not just the stock market has been rallying strongly since October. So have the fortunes of President Obama. Since the onset of the current bull move, the likelihood of him winning the next election has risen from the high thirties to the low fifties, according to the Associated Press GfK poll. If you want to [...]

SOCIALISM You have 2 cows. You give one to your neighbor. COMMUNISM You have 2 cows. The State takes both and gives you some milk. FASCISM You have 2 cows. The State takes both and sells you some milk. NAZISM You have 2 cows. The State takes both and shoots you. BUREAUCRATISM You have 2 [...]

I spent a sad and depressing, but highly instructional evening with Dr. Stephen Greenspan, who had lost most of his personal fortune with Bernie Madoff. The University of Connecticut psychology professor had poured the bulk of his savings into Sandra Mansky’s Tremont feeder fund; receiving convincing trade confirms and rock solid custody statements from the [...]

I never cease to be amazed by the intelligence provided me by the US Defense Department, which after the CIA, has the world’s most impressive and insightful economic research team. There are few places a global strategist like myself can go to get an intelligent, thoughtful forty year views, and this is one. Of course, [...]