07/21/23

The State of the Russian Economy

Russia invaded a peaceful Ukraine in February 2022 — seventeen months ago — and thereafter the West imposed broad economic sanctions on Russia. Putin, knowing he was going to invade Ukraine, prepared for the anticipated economic sanctions by stockpiling liquidity, but was caught off guard by the universality and depth of the West’s sanctions.

[It is now clear Putin made the decision to invade Ukraine more than a year before the actual date of the invasion based on actions he took in preparation for the invasion.]

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06/22/23

The Three Horsemen: Discipline, Risk, Regret

If you are pondering your future — who isn’t? — allow me to introduce the Three Horsemen: discipline, risk, regret.

You will harness and ride some or all of them in your life and they are both your loyal friend and vicious enemy depending upon how you create the relationship.

Discipline

There is no success in life without harnessing discipline. If you tell me you are out of bed by 5:30 AM and regularly plan your own future, I would buy stock in you without the necessity for us to even meet. Continue reading

06/7/23

The Bonesaw Golf Tour — Sportswashing Works?

The Professional Golfers Association of America, the 1916 creation of one blue blooded Rodman Wanamaker of Philadelphia to professionalize golf — actually it is the PGA Tour, not the Professional Golfers Association of America — has been locked in a controversy with its nascent rival, the LIV Tour since its inception two years ago.

In fact, they were engaged in anti-trust litigation instigated by several golfers (talking to you, Slim Shady Mickelson) with the litigation joined by LIV.

It was a nasty spat. Continue reading

06/2/23

The Impending Ukrainian Counterattack

The Russians threatened a year round attack on Ukraine promising a robust winter offensive that failed to materialize and what fighting did occur took a bloody and disproportionate toll on Russian combat power. Essentially, the Ukrainians gave up little to no territory and exacted a massive price in Russian blood.

The Russians, during the winter, unleashed a terrific missile attack nightly on Ukrainian civilian targets that has been substantially negated by the addition of Western anti-air assets, most particularly the US Patriot missile system.

The Russians used hypersonic missiles that were routinely defeated by the Patriot thereby piercing the bubble of Putin’s braggadocios invulnerability. Continue reading

05/18/23

The Debt Ceiling Faux Crisis 2023 Edition

It is that time of the political cycle to pretend we have a debt ceiling crisis. The sky is falling!

Secretary of the Treasury Janet Yellen — who has been wrong on every substantive issue thus far including her huge boner on “transitory” inflation — says the government will run out of money on 1 June, so we have a crisis!

OK, so I blew it on inflation, but we do have a debt ceiling CRISIS! Trust me. This is my serious look.

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05/3/23

You, sir, are a bloody fascist!

The other day I had an amiable chat until the chap says, “You’re a bloody fascist!”

“Truly?” asks your Big Red Car.

“Yes. You’re a bloody fascist.” No exclamation point this time.

“What exactly is a fascist in this context?” asks your BRC.

The chap could not really enlighten me. Deer in the linguistic headlights sort of dumbfounded look.

I then conduct an experiment and ask pals of mine from both sides of the aisle, “What is a fascist?”

Blank stares and one good overview of Benito Mussolini’s bio. Continue reading

05/2/23

CEO Shoptalk: Pace

Everybody is working 24/7 and fast as Hell — right?

Is that the most effective way to successfully run a business — startup or otherwise?

The answer is: it depends. It depends on a lot of things, but generally the answer is a resounding NO!

In Chinese dragon boat racing, pace separates the winners v the losers.

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