Nationalism

Chanos Fears Trump's "Unmet Expectations", Warns Investors To "Rethink Almost Everything In Your Life"

"If we’re in one of those periods now, if 2016 is like 1932 or 1979 - then you not only have to change your portfolio, you have to change your lifestyle. That’s one of the things we’ve been telling clients. If this is a major shift to populism, nationalism, greater state involvement, and less globalism, then you really have to rethink almost everything in your life."

India - A Lot Of Pain For No Gain

Who needs reality when we can exist in illusions? In Modi’s imagination, if you are not a part of the formal economy - as is the case with the vast majority of desperately poor Indians, perhaps close to a billion people - you don’t count.

Dave Collum's 2016 Year In Review - "And Then Things Got Really Weird..."

"Markets don’t have a purpose any more - they just reflect whatever central planners want them to. Why wouldn’t it lead to the biggest collapse? My strategy doesn’t require that I’m right about the likelihood of that scenario. Logic dictates to me that it’s inevitable..."

2016 Year In Review

We started this year with the economy deteriorating and finished it with the second interest rate increase in ten years. There were a lot of ups and downs along the way, but ultimately 2016 was defined by three key story-lines:  1) Brexit 2) The Presidential Election 3) Fed Policy. The first two events were votes that shocked the world. The stock market’s reaction to each was arguably even more shocking. 

"Gold Is Now Effectively Illegal" In India - The Consequences Of Creating A Cashless Society

Jayant Bhandari warns "there are clear signs that in a very convoluted way, possession of gold for investment purposes will be made illegal" as he discusses India's attempts to create a cashless society (and consequences of it) and why precious metals and geographical diversification are the most viable options investors around the world, not just India, should be taking.

Recovering America's History Of Progressive Populism

The elites' toadies, lackeys, shills, sycophants, water-carriers and apologists are desperately hyping the context-free, historically ignorant narrative that "populism leads to autocracy" to protect the existing autocracy of the elites.

What Is The Real Purpose Behind "Fake News" Propaganda?

In the end, ideological combat actually prevents people from learning rather than helping them get to the root of the issue. We live in a world where truth is superfluous to the overall narrative. The only thing that is important is destroying your rivals.

Hugh Hendry: "We Are Running A Trumpian Portfolio"

  • In Europe we anticipate further duress in the political commitment to the European project as the success of Trump’s economic stimulus plan keeps US growth humming
  • The combination of Trumpian economics and Japanese 10-year nominal yields being trapped at zero by the Bank of Japan should mean the yen continues to weaken.
  • And finally, there are Chinese trades which generate positive carry should the status quo persist yet remain long volatility should pressure on the renminbi intensify

Don't Be Fooled. The Trump Rally Is Not A Sign Of Economic Health

In a genuinely free market, the profitability of firms is a good reflection of their ability to better satisfy the wants of consumers. In a world of this sort of crony capitalism, profits are de-linked from a connection with consumers and we cannot say with confidence that any given firm’s profits reflect value creation.

Populism In America: "Follow The Money"

If you want to understand today's populism, don't look to the mainstream media's comically buffoonish propaganda blaming the Russians: look at the four issues listed below...

A Banana Republic In The Making - "The Glue Of Reason In India Is Flaking"

"Sane Indians should stay a step ahead of their rapacious government and the evolving totalitarian society, which are less and less inhibited by any institutions or values in support of liberty... India will become a police state, likely with the full support of most Indians. The glue of reason that the British have applied is flaking, and it is doing so rapidly under the catalyst by name of Narendra Modi."