Wednesday , February 20 2019
Home / Mauldin Letter
The author John Mauldin
John Mauldin
Financial NY Times best-selling author, pioneering online commentator. Over 1 million readers turn to Mauldin for his view on Wall Street, markets, and history.

Mauldin Letter

Modern Monetary Madness

More than 10 years ago some Australian readers begin regaling me with the ideas of economist Bill Mitchell of the University of Newcastle in New South Wales. He was teaching about something he called (and he coined the term) Modern Monetary Theory. I looked into it and fairly quickly dismissed it as silly. Actually printing...

Read More »

Capitalism Without Competition

The Soviet Union’s collapse and spread of semi-free markets through Eastern Europe seemingly ended the socialism vs. capitalism argument. Capitalism had won. Collectivist economies everywhere began turning free. Even communist China adopted a form of free market capitalism although, as they say, with “Chinese...

Read More »

What Should We Then Expect (From Investing)?

“Plans are worthless, but planning is everything.” —US President Dwight D. Eisenhower There are many versions of that Eisenhower quote he learned in the Army. Nixon, who probably heard it from Eisenhower directly, modified it to “… plans are useless, but planning is indispensable.” Both are variations on the theme,...

Read More »

How Should We Then Invest?

"To be absolutely certain about something, one must know everything or nothing about it." —Henry Kissinger, former US Secretary of State This month I’ve discussed some possible pathways for 2019. But beyond that, for the past year or so, I have been talking about what I think may unfold over the next decade. The...

Read More »

Bull in the China Shop

The production of souls is more important than the production of tanks.... And therefore I raise my glass to you, writers, the engineers of the human soul. Joseph Stalin, 1932 [Our purpose is] to ensure that literature and art fit well into the whole revolutionary machine as a component part, that they operate as...

Read More »

Something Wicked This Way Comes

For a couple of years now, the economic narrative has shown a comparatively strong US against weakness in Europe and some of Asia (NOT China). The US, we are told, will stay on top. I agree with that, as far as it goes... but I’m not convinced the “top” will be so great. Americans like to think we are insulated from...

Read More »

The Year of Living Dangerously

Double, double, toil and trouble;Fire burn and cauldron bubble. …By the pricking of my thumbs,Something wicked this way comes. - William Shakespeare, Macbeth, Act IV, Scene I, 1606 Remember when it was a January ritual to fill in the new year on your blank checks? If you’re under 50, probably not. That we can now...

Read More »

The Misunderstood Flattening Yield Curve

Everybody is suddenly talking about the inverted yield curve. They’re right to do so, too, but alarm bells may be premature. Inversion is a historically reliable but early recession indicator. The yield curve isn’t saying recession is imminent, even if it were fully inverted, which it is not. What we see now is...

Read More »