The death of the 60/40 allocation has lead many investors to have an effectively equity-only portfolio.

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Will Bitcoin replace the U.S. dollar?

This is the first post in a series on Bitcoin and cryptocurrencies.  In these posts, I make general comments on about owning cryptocurrencies.  These comments are NOT individual investment recommendations.  You should consult with your investment advisor about owning cryptocurrencies or any other investment. Owning and Sizing Cryptocurrency Investments Every investor should have

some exposure to cryptocurrencies.  The only question is how much.  For most investors, the answer is very little, and it should be confined to a percentage of their risk assets.  That is, if an investor decides to allocate funds to cryptocurrencies, it should be a percentage their…

Debt used to serve the economy, now the economy services the debt.

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Jerome Powell, a former private equity executive, has no problem leveraging the U.S. economy.

This is the first post in a series on debt. Many market observers have watched the Federal Reserve’s (“Fed”) actions, and the subsequent market reactions, and have concluded that the Fed have undertaken to support the stock market.  This is an understandable conclusion, because the link appears to be impeccably causal:  when

the stock market declines, the Fed intervene and the market recovers.  While the timing of these events is true, I believe the causal link is misplaced. I believe the Fed are only concerned with government debt and making sure it is well maintained and, unbeknownst to them, that…

The energy sector, as currently composed, is heading for collapse within a decade.

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Ironically, fossil fuel companies will become sources of funds for the new energy future.

In the first post of this series, I introduced the idea of the Climate War.  Here I want to use the oil industry to illustrate how a whole industry will be left behind as the world shifts into the third industrial revolution.  (The first industrial revolution was powered by coal, the second

by oil, and the third will be powered by renewables.[1]) Clearly the oil industry will be with us for a few more decades, but all the growth will be stripped out of it.  This can be seen in the car market over the past few years.  Internal combustion…