Bitcoin: The Future of Money or a Mania From the Past?

The cryptocurrency market led by bitcoin and ethereum, has just undergone a significant correction down anywhere from 40% to 60% in only a few weeks. The total market capitalization of the cryptocurrency market peaked at approximately $2.5 trillion before falling to $1.3 trillion in less than a month. That number is significant because even after a massive correction, the value of the market is equal to the entire GDP of Australia,the world’s thirteenth largest economy.

It seems wherever you go people are talking about bitcoin, ethereum and the rest…


Mia Khalifa: Hustling in a Woke World

A Jezebel is defined as an “impudent, shameless, or morally unrestrained woman" in the Merriam-Webster dictionary. By that standard, many female Millennials might qualify for that distinction and most people would not hold it against them these days. In fact, it’s probably a prerequisite if a woman wants to be an Instagram model or any other type of celebrity these days.

Former pornstar Mia Khalifa recently increased her profile and fame (infamy) by posting a photograph of herself drinking from a bottle of Vichy France circa wine and exclaiming: “My wine is older…


Fact About Israel/Palestine Dispute That Will Upset Your

People get very emotional about the events occurring in Israel and Gaza. It seems like folks don’t need any skin in the game or have much knowledge to have strong opinions on this subject. The issue divides North Americans and Europeans along political lines as Israel is favored by the right and center and the Palestinians are defended by the left. There are exceptions to the rule. Neo-Nazi types want all Muslims to be deported from their nations and want them to suffer but support Hamas because they have an expressed desire…


Unmarriable Women & Unrealistic Expectations

I often hear from young women complaining about men today and their unsuitability as mates. They point out to me things that I consider obvious. Young men are emotionally immature. Many live at home well into their thirties and are broke as their careers have not worked out. They may be trying to sell a screenplay, write the next War and Peace or start an internet company while they toil away at call centers. They also point out that these men quickly tire of them and become “emotionally unavailable”. …


Sleepwalking to Serfdom: Are We Still Free?

The Road to Serfdom by the great Austrian economist Friedrich Hayek was published in 1944, in London, as free people around the world wondered whether or not they would be doomed to a totalitarian and homicidal dystopia. Hayek wrote much of the book when the Allies were losing the war. The book was a defense of liberty and free markets during a period when even democracies seemed to favor government control and centralized planning.

To be clear Hayek correctly and accurately defined socialism as government control of production. Unlike most pure libertarians and…


Oscar’s 2021: The End of Hollywood

The Academy Awards this year elicited feelings of deja vu. This is what is must have been like to attend a Christmas ball hosted by King Louis and Marie Antoinette in 1788. Like our Hollywood elites today, the French aristocracy were blissfully unaware of the the impending doomed they faced. How could they have known that in only a couple of years they would go from diamonds and the finest foods attainable in late 18th century Paris to the guillotine? Many thinkers and wise people had warned them that their lack of self-awareness would…


The Crash is Coming: Inflation, Bubbles and the New Abnormal

There has been much discussion among those who closely follow the economy and financial markets about the future outlook for inflation and its potential effect on markets and growth. Never has so much money been printed by central bankers in an attempt to prop up a collapsing economy. The US announced an almost $2 trillion “infrastructure” bill. The word infrastructure was put in parentheses since the vast majority of the new spending has little to do with rebuilding America’s aging roads, bridges, water systems etc. and more to do with…


When I was in university studying finance and economics, I became enthralled with the ideas of the great economist Milton Friedman. Professor Friedman had made quite a stir among the established elite and gave downtrodden lovers of liberty much needed hope during and after the bleak 1970’s. We were in the process of beginning our fourth recession in twelve years soon after the election of Ronald Reagan. Even the periods between recessions were characterized by close to double digit unemployment and inflation. Even those that had work, felt little job security and were exhausted by the treadmill of inflation causing…


Trump Gets Covid 19, the Self-Righteous Rejoice and Decency Dies

President Trump along with the First Lady, and some of his closest aids like Kellyanne Conway and Hope Hicks have come down with Covid 19 a month before election day. Everyone realizes that a large segment of the population dislikes or even loathes Trump. However, few of us that haven’t drunk from the cup of Trump Derangement Syndrome expected the visceral hatred and sadism exhibited by the keyboard warriors of social media, celebrities and even members of the news media. I have read many hundreds of Tweets celebrating Trump’s illness…


I was having a coffee with an old friend of mine who I hadn’t spoke to in a while. He was a semi-retired doctor. He wasn’t my doctor and as a courtesy, I never asked him medical questions and he generally didn’t ask me for specific investment tips (I had been in the investment business from 1980 to 2017). We did enjoy talking about general economics since human behavior and psychology fascinated both of us. He asked me how I was doing generally and I told him that I was beginning to feel my age after having felt vibrant all…

Tom Czitron

Wall Street Maverick for over four decades. Economic, political and cultural analyst.

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