Thoughts from the Frontline

Highly acclaimed free weekly investment and economic newsletter

"If you're not reading John Mauldin, you should be."

&8212;G. Gilder

John Mauldin is a renowned financial expert, a New York Times best-selling author, and a pioneering online commentator. Each week, over 1 million readers turn to Mauldin for his penetrating view on Wall Street, global markets, and economic history.

Join our 1 million readers today!

Start My Free Subscription

Reader Comments

"You are the most thought provoking, balanced and direct analyst I know of. I'm sure glad I read you several years ago and started following you."

—J.F.

"You really do have a fine ability to explain technical matters in an understandable way a very rare gift indeed!"

—M.A.

"I enjoy your letters more than anything I receive from my other email. I just enjoy the intellectual, friendly banter."

—D.B.

"Everyone I've referred to your newsletter loves it. You should take this show on the road."

—R.S.

"Your weekly e-letters are the most important investment document I receive each week."

—T.M.

"My wife and I have been reading your report since 2000. We have enjoyed reading every report. Thank you for being so honest, candid, and open with your readers."

—G.H.

"I just wanted to let you know how much I appreciate your letter. I look forward to it every week. There are not many blogs or investment letters I trust but yours is one. I also like the fact that you are regular guy, a bright one, yes, but one I can identify with."

—M.B.

"During this volatile and unpredictable stock market, John provides some brilliant insights about what is really going on in the economy, both nationally—and globally. Every investor should receive this FREE weekly E-Letter."

—B.K.

The readers comments are specifically in reference to Thoughts From the Frontline e-letter published by InvestorsInsight Publishing, Inc. These comments in no way are testimonials or comments on the investment advisory firm Millennium Wave Advisors, LLC. For privacy policy reasons initials have been used for each reader's comment.

Latest Issue

Time Has a Price

July 1, 2022

One benefit of human progress is the way we gain “common knowledge” that was once anything but common. We observe basic facts—for example, water boils if placed over a flame—and then build on them. Boiling water took us to steam engines and then much more. But that path wasn’t always obvious.

We see a similar evolution in finance. Early humans (the Sumerians, the Assyrians, the Babylonians, and eventually the Romans and the Greeks) developed a concept of “property” in which a certain person possesses a particular object.

Then came the idea one could “loan” their property to another, giving up immediate control but retaining ownership, in exchange for some kind of reward. This reward came to be called “interest” and now it’s the foundation of every investment decision.

Ironically, these transactions were originally recorded on clay tablets, which were broken when the loan was repaid. But numerous surviving unbroken tablets recording unpaid loans give us an idea of their loan terms, which often made today’s credit card companies look generous.

This is likely obvious to you. It certainly is to me. Yet it clearly isn’t obvious to everyone, and particularly to some central bankers and their advisors. This leads to many of the problems I discuss in these letters.

Last week I mentioned a forthcoming book by Edward Chancellor, The Price of Time: The Real Story of Interest. I’m reading an advance copy and it’s every bit as gripping as any science fiction novel. (Those who know my...

Read Full Newsletter

Connect With Mauldin