Principles for Success: The Call to Adventure

2025-09-09

There are smart tariffs and there are not smart tariffs.

Every type of tax, tariffs included, has pros and cons. Done well, tariffs can provide a source of revenue while simultaneously reducing geopolitical risk.

But to be effective, they need to be engineered prudently, efficiently, and surgically.

2025-09-08

When I look at the US and global debt burdens and how countries are likely to respond, I worry about the possibility of creating a stagflationary environment.

Our financial system is dependent on the idea that you can take a debt asset and convert it into money. But now there’s not enough money to go around.

That makes the idea of devaluing the dollar relative to other currencies appealing — but the other currencies won’t want much of an appreciation either. That’s one of the reasons I say that gold will be a better performing asset.

2025-09-04

I’m doing an AMA on @reddit today, starting at 1pm ET.

I always enjoy hearing from you all, and discussing whatever’s on your mind.

So, if you have any questions for me, go check out the Reddit thread linked in the comments. I’ll get to as many as I can.

2025-09-03

I’m looking forward to doing another AMA and answering whatever questions you have on Thursday, 9/4 from 1-3pm ET.

For over 50 years, I’ve been in the business of studying the cause/effect relationships that drive how reality works and developing principles for dealing with reality well. I then programmed these principles into computers as decision rules to bet on them working. Because the causes come before the effects, this principles-based approach worked amazingly well for me.

Since I’m 76, I’m now at a stage in my life that I want to pass along what’s of value. So far, I’ve passed along my perspectives and principles about how to approach life, work, the changing world order, debt, and markets in my books, videos, and social media. But I think that what is most important is