Financial Markets

The Shiller CAPE ratio has only been higher once in 150 years. The Buffett indicator is 2.5 standard deviations above trend. 40% of the S&P 500 is in just ten stocks. Wall Street sees nothing wrong.

Corporate finance can help introduce classifications such as the distinction between the assets of a natural person and a legal person, but also by incorporating profitability, liquidity, and solvency variables into economic policy analysis.

Even if peace breaks out tomorrow, the economic damage is done.

This is not a cycle of greed. It is spontaneous order doing what it always does: finding the path around the obstruction.

The system does not break all at once; it wears down slowly, through a steady loss of purchasing power that households are already beginning to feel.

The aggregate net worth of all Americans is $170 trillion. Total government liabilities (on and off the books) are $160 trillion. Rick Rule: "I just don't understand how that great big large number goes away." Neither does the Fed.

Mark Thornton argues we’re on the on-ramp to hyperinflation, and that the “gold didn’t spike on war” story misses the real driver: Fed policy, oil-driven CPI optics, and the coming scramble for liquidity.

War in the Persian Gulf doesn’t just mean pricier gas. It can snap hidden supply chains that keep modern life running, from fertilizer and copper to plumbing repairs.

President Trump’s erratic actions have created uncertainty in the gold markets, and just about everywhere else, and there is no end in sight.

What looks like market strength may be a delayed reckoning. Mark Thornton explains the signals, the Fed’s playbook, and where the next bust is likely to hit first.