April 30, 2021 By Steve Blumenthal “The question is, ‘Why do policies that have been shown to work so badly still get used so regularly?’ I have long maintained that Keynesianism is to Marxism and Socialism what diet cola is to the real sugary beverage. Hence, it falls neatly into the popular, [...]Read More >

April 23, 2021 By Steve Blumenthal "Where ignorance is bliss, 'tis folly to be wise." – Thomas Gray British Poet, “Ode on a Distant Prospect of Eton College” I’m fortunate to be on the receiving end of a great deal of research. Some I pay for; some is available to all of us. I’m particularly [...]Read More >

March 26, 2021 By Steve Blumenthal Once a quarter or so, I write about debt. We sit at the end of a long-term debt supercycle. Few of us have seen one before, though they have happened many times throughout history. The last was in the mid-1930s. Last week, my partner John Mauldin hit it out [...]Read More >

March 19, 2021 By Steve Blumenthal "This is not the end, this is not even the beginning of the end, this is just perhaps the end of the beginning." – Sir Winston Churchill On a warm summer's evening On a train bound for nowhere I met up with the gambler We were both too tired to sleep So [...]Read More >

March 12, 2021 By Steve Blumenthal “Cycles are inevitable. Every once in a while, an up- or down-let goes on for a long time and/or to a great extreme, and people start to say ‘this time it’s different.’” – Howard Marks, Co-Founder and Co-Chairman, Oaktree Capital Management Less spending, [...]Read More >