You cannot grow a turnip in a pile of dollar bills unless you let them rot first. Depending on the road the Fed takes, that could become the dollar’s highest value and the best the Fed can do to reduce food shortages … by David Haggith on The Great Recession Blog: Whether the dollar decays […]
Jonathan Turley: Stay calm and censor on! Musk called before parliament.
Elon Musk must answer to parliament for his desire to make Twitter a free-speech platform. According to Jonathan Turley, one must apparently be very careful about not encouraging too much free speech in the UK these days: by Jonathan Turley: I previously wrote about Hillary Clinton’s call on European countries to pass censorship laws to […]
Doug Noland: Global quagmire (Fed’s in bubble trouble)
The Global Bubble, several decades in the making, is in the process of bursting. A new cycle is emerging, replete with extraordinary uncertainties. Acute instability has become a permanent feature, at least through the cycle transition phase… by Doug Noland on Credit Bubble Bulletin: These are not statements made to be provocative, but rather to […]
Schiff Gold: Buckle up for a crashing economy and more inflation
The Fed assures us an easy landing is doable with GDP “growth” at -1.4%. Does anyone wonder whether those trees brushing the wingtips mean we’ve already missed the runway? But, hey, inflation was transitory, too. So, buckle up…. by Michael Maharrey on Schiff Gold: Jerome Powell began hinting that inflation might be a problem last […]
David Stockman: The Fed is not fixing the problem
The 10-year UST yield has crossed the 3% mark. So you’d think this was a sign that a modicum of rationality is returning to the bond pits. But not really … because inflation is rising even faster than interest rates…. by David Stockman on Contra Corner: Real yields on the fulcrum security for the […]
Wolf Richter: Complexities of a messed-up labor market
A thorough explanation of the labor market and the shortages that are dogging it, the impact of labor shortages on wages, and of wages on inflation and the recycling impact of inflation on wages … by Wolf Richter on Wolf Street: Employers added 428,000 workers to their payrolls in April, according to the Bureau of […]
Bill Blain: The Great Crash of 2022 – What happens next?
Yesterday’s market meltdown was heralded as a “capitulation trade”, but who knows? What we do know is that there is an awful lot to worry about, and the conditions for the BIG ONE have been building for decades. Time to re-read The Great Crash, 1929… by Bill Blain on Blain’s Morning Porridge: There is nothing […]
Jim Rickards: The dollar’s collapse is happening before our eyes
Events today are playing out so quickly that the dollar’s collapse is happening in front of our eyes. It’s no longer a matter of a major event on the horizon; it’s occurring in real-time. Countries all over the world are considering dumping dollars for fear that they will be next on the list to have […]
John Tamny: The dollar is ‘mighty’ in the way that Kim Jong Un is ‘tall’
Were he around, Adam Smith would marvel. All this talk of a “strong,” “weak,” or as is often said lately, a “mighty” dollar. Wait, what? Money just is, yet pundits of the moment quite literally act as though money grows on trees such that it grows “stronger” today, but perhaps not tomorrow. by John Tamny […]
Wolf Richter: Powell confident in “softish landing” … but we may keep inflation
The most reckless Fed ever is on the move finally with the biggest rate hike since 2000. QT is next, but it will be too little too late…. by Wolf Richter on Wolf Street: “The Committee is highly attentive to inflation risks,” the statement from the Fed’s policy committee said today, adding to its inflation […]
Pam & Russ Martens: Citigroup’s role in Europe’s “flash crash” reminiscent of its “Dr. Evil” trade
Citigroup was mysteriously vague when it confessed to causing a $315.5 billion flash crash on Monday, saying only that it was an “error when inputting a transaction.” That’s all we get for a $300 billion wrong return stroke of someone’s right little finger? It seemed more than a little vague… by Pam Martens and Russ Martens […]
Chris Martenson: Will you starve to death this year?
No energy = no economy. It’s a very simple equation really, and one that is easily intuited. But somehow, we have unserious people making unserious decisions that will have entirely serious consequences and I’d like you to avoid them as much as possible…. by Chris Martenson on Peak Prosperity: Currently, diesel prices in the U.S. […]
Mark Jeftovic: The gerontocracy strikes back
There is nothing sadder than watching those who inspired you on your journey into contrarianism degenerate into mummified shills for a morally bankrupt status quo. Buffett and Munger pillory Bitcoin and rationalize Cantillon mercantilism at Berkshire AGM. by Mark Jeftovic on Bombthrower.com: The Berkshire-Hathaway AGM was this past Saturday, and Warren Buffett and Charlie Munger […]
Charles Hugh Smith: Is housing a bubble that’s about to crash?
We are all prone to believing the recent past is a reliable guide to the future. But in times of dynamic reversals, the past is an anchor thwarting our progress, not a forecast. So, what is the difference between a bubble? by Charles Hugh Smith: Are we heading into another real estate bubble / crash? […]
James Howard Kunstler: “Disinformation” is just a boot in your face
Behind all this disinformation rhetoric is the growing panic in the Left that they are culpable for an enormous raft of crimes committed against their own country, and will eventually end up in court, in prison, or worse…. by James Howard Kunstler: Since Elon Musk pounced on Twitter, are you not amazed to see just […]
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