John T. Reed’s news blog

WSJ headline say gold near record price—and since gold is little more than a hedge against inflation, you must adjust for inflation. The record was in February, 1980 if you adjust for inflation: $2,541.61. It's now $2,055 an ounce. . The actual story is how it has moved so little since 1980. Some inflation hedge. . Here is the adjusted-for-inflation chart—the only one that matters when the price of the commodity is almost entirely dependent on its hedge-agasint-inflation image: . https://www.macrotrends.net/.../historical-gold-prices...? . https://johntreed.com/.../60940227-disadvantages-of-gold...

Another WSJ article today lauding the “woundrous” 60-40 strategy. 60% stocks and 40% bonds. It is supposed to do better than any other type of investment portfolio. I think continued belief in this nonsense is “wondrous.”1. Does it generate commissions to securities dealers? Initially I guess, if you buy it then leave it alone to avoid management fees and gains taxes.2. Decisions and forecasts must be judged by what the investor knew at the time, not what the results were in the retrospectoscope.3. Bonds in 2023 are an entirely different animal than they were before the Great Depression. In 1933,...

Here is an idiotic front-page headline from the WSJ: Leak Investigation Focuses on Insiders.".This is about the top secret military leaks about Ukraine..As opposed to whom? Homeless? Chicago teachers. College rugby. .I just saw on TV, that the suspect is a Massachusetts air national guard intelligence..I understand the national guard is now more professional than when they killed Kent State University students during the Vietnam War or when they shot themselves in the ass while guarding airports after 9/11..Actually? I am not sure they are better now. Just hoping..I would like to know how some weekend warrior in anti-war Massachusetts...

Next year’s Democrat presidential nominating convention will be in Chicago..How did the GOP force them to do that?.The Dems picked it..Yeah, right. Like they would be that stupid. .Speaking of stupid, what’re you gonna tell me next? That they will nominate 82-year-old Biden whom only 33% of Democrats want to run again?.The only other announced Dem is RFK, Jr., whom Wikipedia describes thus:.an American environmental lawyer and author known for promoting anti-vaccine propaganda and conspiracy theories.

I keep finding myself pointing out that no one is ever ready for world war. Not even the Nazis or Japanese in 1939. And they worked very hard to BE ready, but even then they were not. GOP keep saying that we are not ready for war with China. That is no doubt encouraging the Chinese to start one..We were flat on our back in the Depression when Pearl Harbor was attacked. Far less prepared than we are now..Lamenting that we are not prepared serves what purpose? When did we get ready for a war before it started? Revolutionary War?...