Saturday , September 25 2021
Home / Acting Man

Acting Man

A Look Back at Nixon’s Infamous Monetary Policy Decision

  Putting the World on a Paper Standard Half a century ago one of the most disastrous monetary policy decisions in US history was committed by Richard Nixon.  In a television address, the president declared that the nation would no longer redeem internationally dollars for gold.  Since the dollar was the world’s reserve currency, Nixon’s closing of the “Gold Window” put the world on an irredeemable paper monetary standard. Richard...

Read More »

Post-Covid China

    Lessons to be Learned from East Asia The world should take a lesson from how East Asia ran itself in 2020. Japan had no lockdown. None. With an aging population, its death rate has been creeping up for many years. In 2020, it fell by 0.7%, as if Covid-19 was a life-saver. Daily new cases in Singapore – Covid-19 seems to be pretty much under control there. [PT] The Prime Minister of Singapore repeatedly appeared on TV to advise...

Read More »

COVID in India

    Scavengers Out in Full Force I have just returned from a visit to my family in India. It was hard to escape. To get to the US from India, I needed a COVID test. The Indian government has seriously restricted who can provide COVID testing, treatment, and vaccination. Private doctors and hospitals that are not approved face brutal legal consequences if they provide COVID treatment. India’s experience with the COVID pandemic was...

Read More »

India’s Experiments with COVID-19

  Shooting from the Hip [ed. note: the tweets linked below mainly show videos from various lockdown phases] Reminiscent of his demonetization effort in 2016, on 24th March 2020, Indian Prime Minister Narendra Modi, appeared on TV and declared an immediate nationwide curfew. No one was to be allowed to leave wherever he or she happened to be. All flights, trains (after 167 years of continual operation) and road transportation came to a...

Read More »

Diversity or The Bigotry of Low Expectations

    Value Traps and Economic Ignorance A financial analyst is often, or at least should be, more of a psychologist than a financial expert. There are companies that I knew fifteen years ago that had inherent value a multiple of what their stocks were trading at. Today, there continues to be similar upside, except that upside targets and share prices are lower. What went wrong? A problem reaches the far North faster than climate change...

Read More »

Dawn of the Dead in the United States of Voodoo

  Dead Men Don’t Spend The checks went forth yesterday. And all the peoples rejoiced. Stimulus blinders firmly attached! Let’s go! Mars is within reach! [PT] Bloomberg reports: As the economy reopens, consumer spending over the next two quarters is likely to be the strongest such period in at least 70 years with a rebound in services leading the way, according to economists at Wells Fargo & Co. This is La Bubble Epoch… a gay...

Read More »

Did You Make Janet Yellen Rich?

  The Stress of Losing Billions Up until the WallStreetBets crowd short squeezed Melvin Capital for a $7 billion loss, Robinhood had it made. But losing billions is stressful. And when your product blows up your customer the clucking that follows comes hot and heavy. A surprise revival of business at Game-Stop… [PT] One of the sweetest displays in the world, we’ve been told, is the bursts of digital confetti that shower down...

Read More »

Reddit Residue on Silver

  Silver Yo-Yo The price of silver is going up and down like a yo-yo. On Sunday and into the first part of Monday, the price skyrocketed on news that Reddit was touting the metal. But as the data clearly showed, the price was not driven up by retail buying of physical metal. Silver, March futures from Jan 27, 30 minute chart: a lot of volatility, but silver seems to have established a higher low after coming down from the initial...

Read More »

A Reddit-Inspired Silver Squeeze?

  Sticking it to the Man A certain Reddit group has recently become very popular. For many people, the group has emerged as the savior of humanity. With their collective might, this group has brought a few hedge-funds close to bankruptcy. GME daily, log and linear view – a brief surge, but quite a painful one for hedge funds that were  short the stock in size. [PT] Is this group going to save us from the greed and immorality of Wall...

Read More »

Crypto-Mania Resurrected

  The Investment Asset of the Century Makes yet another Comeback Even the most ardent cryptocurrency bulls are probably slightly slack-jawed at this juncture and can hardly believe it. To be sure, many people were undeterred by the vicious bear market that saw BTC melt down from just below $20,000 in Dec. 2017 to less than $3,300 in Dec. 2018, but we doubt that even these steadfast believers in the grand-daddy of cryptocurrencies...

Read More »