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S&P 500 Breaks Even After 14 Years, 11 Months

Written by Gary North on February 18, 2015


The suckers who did not sell the S&P 500 on March 24, 2000 broke even yesterday: February 17. It closed at 2100. On March 24, 2000, the S&P 500 peaked in terms of purchasing power. It closed at 1527. Go to the inflation calculator of the Bureau of Labor Statistics.  It is here. Type in […]

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Mauldin’s Clearing House

Written by Gary North on October 4, 2014


Recently, I had some fun with John Mauldin’s 65th birthday. I kidded his strategy. Mauldin is famous in the financial publishing industry for his pioneering strategy of publishing articles by some of the nation’s most astute financial commentators in his weekly newsletter. Then, a year later, when some columnist’s warning comes true, investors around the […]

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No More Traders on the NYSE’s Floor

Written by Gary North on October 2, 2014


MarketWatch ran an article promising never to have another photo of traders on the New York Stock Exchange. There is a reason for this: there aren’t any. Well, there are a few. But most of them are gone. They have been replaced by algorithms. What has happened to the commodity trading pits has happened to […]

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Murray Rothbard, 1; Jim Willie, 0

Written by Gary North on September 26, 2014


One year ago, Jim Willie made a big mistake. He wrote off Murray Rothbard as a dolt. He did not mention Rothbard by name. He was too smart for that. He simply dismissed Rothbard’s description of how the Federal Reserve System works. Jim Willie thought he knew better. I warned him about this. He ignored […]

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Digital Tulips: The Bitcoin Mania

Written by Gary North on December 3, 2013

In 1637, the tulip bulb investment mania peaked in Holland. It had made some people rich. Now it was about to make others poor. Bulb prices rose steadily throughout the 1630s, as ever more speculators wedged into the market. Weavers and farmers mortgaged whatever they could to raise cash to begin trading. In 1633, a […]

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Bitcoins: The Second Biggest Ponzi Scheme in History

Written by Gary North on November 29, 2013

I hereby make a prediction: Bitcoins will go down in history as the most spectacular private Ponzi scheme in history. It will dwarf anything dreamed of by Bernard Madoff. (It will never rival Social Security, however.) To explain my position, I must do two things. First, I will describe the economics of every Ponzi scheme. […]

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Hostess Tries to Sell Its Brands

Written by Gary North on January 29, 2013

Members of the small union that refused to bargain with Hostess are now looking for work. “I guess we showed ‘em.” Yes, they did. They are on food stamps now. They are receiving their unemployment checks from the federal government. The taxpayers are paying for their stand against the capitalists who owned Twinkies. With respect […]

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