Monthly Archives: August 2026

Our August month-end client letter explores the history and compounding ramifications of various deficits and debt levels across countries. ‘Easy money’ most often turns out to be a curse. US public debt just crossed $40 trillion, but the country is … Continue reading →

Amid all the talk about the economic, stock and credit market risks that have been magnified by the AI spending frenzy, very few mention the unsustainable environmental costs. This discussion offers a taste of the implications for all of us. … Continue reading →