“Only a Nobel Prize winning economist could come up with such nonsense.” posted by MN Gordon on Economic Prism: Clear economic thinking and lucid communication via the written word tumbled out of fashion nearly 100 years ago. The fall from grace was triggered by the 1936 publication of John Maynard Keynes’ The General Theory of Employment, […]
Matthew Piepenburg: Telling You What Powell Won’t
Mr. Powell, if you are reading this, let us remind you that when Paul Volcker was raising rates, the US public debt was below $900B, not the current $30 TRILLION debt level which the Greenspan generation (i.e., that includes YOU) directly created. by Matthew Piepenburg on Gold Switzerland: As repeated in numerous articles and interviews, global central […]
Paul Craig Roberts: The United States does not have an economy
The US financial sector has long looted other countries…As foreign governments, having experienced or witnessed the economic carnage and fearing accountability, are less willing to be bribed into indebting their countries, American finance is now applying this technique to Americans…Contrary to the narrative in the financial press, the Federal Reserve is not raising interest rates […]
Charles Hugh Smith: The only real solution is default
The destruction of ‘phantom wealth’ via default has always been the only way to clear the financial system of unpayable debt burdens and extremes of wealth dominance. Every default is a debt jubilee for the borrower. Beware, though, of the state swooping in and passing the losses onto the taxpayers via bailouts / transferring the […]
Mises: Powell’s “soft landing” is impossible
After more than a decade of chained stimulus packages and extremely low rates, with trillions of dollars of monetary stimulus fueling elevated asset valuations and incentivizing an enormous leveraged bet on risk, the idea of a controlled explosion or a “soft landing” is impossible…. by Daniel Lacalle on the Mises Wire: In an interview with […]
Alasdair Macleod: Recession, prices, and the crack-up boom
The debate between an outlook for inflation versus recession intensifies. We appear to be moving on from the stagflation story into outright fears over monetary tightening where there is the evolving risk towards a systemic fiat-currency crisis encompassing banks, central banks, and the currencies themselves … by Alasdair Macleod on Goldmoney: Initiated by monetarists, the debate […]
David Haggith: Thirteen Major Fails: a quick rundown of our rundown economy
During the Roaring Twenties would anyone have believed you if you told them about the depression and the dust-bowl years that were soon to come? Would they have believed their celebratory excesses during such a “strong economy” could possibly leave them collapsing into the dustbin of history that followed? I don’t think so. If I gauged […]
Best-selling author of Lehman crisis says credit warnings are piling up
Lawrence McDonald is the New York Times bestselling author of “A Colossal Failure of Common Sense: The Lehman Brothers Inside Story,” and he is now writing that credit is showing major signs of stress all over again … by Lawrence McDonald on the Bear Trap Report: The Fed is promising $1T of quantitative tightening over […]
Charles Hugh Smith: Five long-term cycles come back to haunt us
I underestimated the status quo’s ability to kick the can down the road for a decade. The motivation to kick the can down the road was never in doubt; what was in doubt was the system’s ability to respond to doing more of what’s failed spectacularly and keep on keeping on more or less unfazed […]
Ellen Brown: A monetary reset where the rich don’t own everything
We have a serious debt problem, but solutions such as the World Economic Forum’s “great reset” are not the future we want. It’s time to think outside the box for some new solutions… by Ellen Brown on Scheerpost: In ancient Mesopotamia, it was called a Jubilee. When debts at interest grew too high to be […]
Mises Institute: Inflation, quick and dirty
All of a sudden everyone is an expert on inflation. Your brother-in-law, your local paper, and even dilettantes at dubious outlets like the Washington Post or The Atlantic feel compelled to explain our current predicament… by Jeff Deist at the Mises Institute: With the admitted rate of consumer inflation running somewhere around 8 percent, and the real rate […]
Charles Hugh Smith: Staring Into the Abyss
So sorry, but “you’ll own nothing and be miserable–oops, we mean happy, yes, deliriously happy” doesn’t count as a solution. All the big problems have been dismissed, ignored or papered over with PR-happy-talk “solutions” that only make the problem worse…. by Charles Hugh Smith: The global economy is perched on the edge of an abyss, […]
Fatal Dependency: America’s reliance on foreigners for money could crater the dollar
One used to read about the demise of dollar in the newsletters of monetary cranks; now we read about it in research reports by Credit Suisse. Goldman Sachs now warns that the dollar will go the way of the British pound due to “high U.S. inflation.” by David P. Goldman on The American Mind: The United […]
Charles Hugh Smith: Debt Saturation – Off the Cliff We Go
From Charles Hugh Smith: When the system can’t borrow more and distribute the insolvency, it implodes. I started writing about debt saturation back in 2011. The basic idea is we can continue to borrow and spend as long as one of two conditions hold: 1) real (inflation-adjusted) income is rising, so there’s more income to […]
Tom Woods Answers Three Very Important Questions
From TomWoods.com: A reader wrote to me yesterday to ask about, and politely challenge, some of what I had written. He’s a supporter and sympathizer and not hostile. But his questions are good ones and come up a lot, so I’m going to answer them for everyone’s sake: First off, we are in “debt”? To […]
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