Brian Maher

The Fools Are Rushing in Again

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As a bad penny returns to its sender, or a dog returns to its vomit… investors are returning to the stock market. “All in” these gentlemen and ladies are going (or at least the computer algorithms that set market pace). Lance Roberts of Real Inves‌tment Advice: With cash levels at the lowest level since 1997 […]

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Who Has the Trade War Hurt More: U.S. or China?

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Yesterday we hazarded a defense of free trade. Here was the rock of our argument: A free man — even an American — enjoys the right to purchase his wares at the lowest price he can obtain them. That is, we stood upon “that right which man has to purchase his sustenance where he can […]

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The Nationalist Case for Free Trade?

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Is there a nationalist case for free trade? That is the question we tackle today, as our thoughts turn to trade… United States and Chinese trade officials are presently huddled at Washington. Talks had also been scheduled for Friday. Markets took fright yesterday when it appeared China’s negotiators would back away this evening. But this […]

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America’s Forgotten Depression of 1920–21

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The year is 1921… America is less than three years removed from triumph on the Western Front. The twenties are set to roar… and the Jazz Age is in swing. Warren Gamaliel Harding sits at the presidential desk. And the nation is sunk in depression… U.S. industrial production plunged 31% between 1920 and 1921. Stock […]

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Impeach Everybody

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The president is absorbing a severe battering. From his left, Democrats seek to bayonet him out of office. They insist his sins against American democracy are of the mortal, impeachable variety. From his right, the war hawks and bugle blowers rage against him. They claim he has handed Turkey a permission slip to gobble northern […]

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Into the “Tractor Beam” of Zero Rates

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“The economy will fall within the inescapable “tractor beam” of zero rates”… The Fed can’t raise interest rates. But lowering them will do little…

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A “License to Buy Everything”

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The Dow Jones crosses 27,000 for the first time ever… The one stock that could crash the stock market… “The likely trigger for a market shock will be a ‘no-see-em’”…

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