Confidential Report
China's Doom-Loop
The edge of recession has now progressed to a full-blown Chinese fire drill
Confidential Daily Comment
Central Banks Are On Edge
The bailout of central banks has begun, but there are real risks to the global financial system. It was all very predictable, but no one wants to take responsibility for the failures.
3 min read
I kicked off this website three years ago with a warning that the bond market would create the greatest loss of wealth in history.
It was an easy call after decades of declining interest rates that delivered the insanity of negative rates for institutional investors. This effectively guaranteed a capital loss on buying government bonds.
Just like the negative oil prices (yes, they would pay you to take oil) of April 2020, this was one of the easiest investments to profit from. In the case of bonds, you sold them on the expectation rates would move higher. In the case of oil, you bought it expecting prices to go up.
Both proved incredibly lucrative for those who got on the trade.
Read next
Confidential Daily Comment
Where Do We Draw the Line?
The line between free speech and prohibited speech is being redrawn almost daily. What will it do to us as a society?
Confidential Daily Comment
SEA LIFE – CONTAGIOUSLY ENTHUSIASTIC
Our resident seafarer Stuart Ballantyne is seeking the few remaining positive people to join him for a coffee.
Confidential Daily Comment
A Political Start is Born
JD Vance demonstrated he has the intellect to be President, something neither of the Democratic candidates can attest to.
Confidential Daily Comment
Culture Matters
The damage to our social cohesion and culture by successive governments was on full display recently. It should have us all very worried.