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U.S. Government Debt vs. GDP
U.S. Government Debt vs. GDP Chart of the Week #8 I don’t usually do these more than once a week unless I come across something really pressing that I want to share with you. But after a reader named Laramie made an interesting comment under the chart I published earlier this week, showing U.S. government historical […]
This Is What Collapse Looks Like
This Is What Collapse Looks Like Every day now, the news is replete with evidence that, everywhere, things are falling apart faster and faster, and nothing of consequence is being, or can be, done about it. Every civilization collapses, but the collapse of our current global industrial civilization is occurring at a breathtaking and accelerating […]
St. Petersburg International Economic Forum (SPIEF) 2024: Marking the Rise of the Global South Century and Decline of Western Economies
St. Petersburg International Economic Forum (SPIEF) 2024: Marking the Rise of the Global South Century and Decline of Western Economies This year, SPIEF’s theme was “The Foundations of a Multipolar World – The Formation of New Areas of Growth.” The St. Petersburg International Economic Forum, an annual event bringing together global leaders, policymakers, and influential […]
The Anxiety Economy
The Anxiety Economy We’re told to stop being so darn negative even as the tsunami of inequality washes away the beach chairs of the bottom 90%. The disconnect between the happy story of the economy is growing healthily, so all is well and the insecurity and stagnation experienced by the bottom 90% of wage earners has been […]
A Most Dangerous Assumption: Mining the Future to Spend More Today
A Most Dangerous Assumption: Mining the Future to Spend More Today What the cheerleaders are actually claiming is the process of adding zeroes to “money” is limitless, but there are limits on the utility of devaluing currency, too. How prosperous would the world be if we hadn’t collectively borrowed and spent $315 trillion—-333% of global […]
Economic Collapse is Stalking us Like Death
Economic Collapse is Stalking us Like Death The exceptional degree to which the Fed has trapped itself (and all of us) in an economic death spiral is becoming evident everywhere now. Photo by Rob Martin on Unsplash My longtime prediction that the Fed will not be able to kill inflation without destroying the economy is showing itself true […]
The Music Just Stopped: Japan Banking Giant Norinchukin To Liquidate $63 Billion In Treasuries & European Bonds To Plug Massive Unrealized Losses
The Music Just Stopped: Japan Banking Giant Norinchukin To Liquidate $63 Billion In Treasuries & European Bonds To Plug Massive Unrealized Losses Last October, when the wounds from the March 2023 bank failures – which surpassed the global financial crisis in total assets and which sparked the latest Fed intervention, setting the market’s nadir over the past 16 […]
Carol Roth: The Death of Property Rights
Carol Roth: The Death of Property Rights And the end of the US as we know it We all sense that our basic rights are under attack, but the nature of the enemy and the weapons at their disposal aren’t always clear. Here’s a video that spells out the who, what, and how of the […]
Sense and Nonsense on Petrodollars
Sense and Nonsense on Petrodollars Folded dollar bill (featuring George Washington) against a map of Saudi Arabia. Last week several reports suggested the termination of a US-Saudi petrodollar agreement, and speculated a Saudi Arabian move to sell oil on world markets in various currencies, including the Chinese yuan. The accounts were rife with inaccuracies: the […]
Dollar’s Reign May Not Last Much Longer (If History Is Any Guide)
Dollar’s Reign May Not Last Much Longer (If History Is Any Guide) Chart of the Week #6 Today’s chart ties into the de-dollarization trend we’ve been talking about a lot lately in these pages. When most people around the world think about money, they’re probably thinking of the U.S. Dollar. That’s because the greenback is the world’s […]
The Crises and Sacrifices Yet to Come
The Crises and Sacrifices Yet to Come The timing of finally embracing risk and sacrifice as the only option left is exquisitely sensitive: finally caving in a moment too late leads to the system collapsing beyond recovery. The sense that we’re approaching a tipping point into a crisis with no easy resolution is pervasive, a […]
Prepare for the Repricing of Risk Globally
Prepare for the Repricing of Risk Globally There are no more “saves” available for the next market meltdown. The past 24 years can be viewed as an era in which risk declined due to the dynamics of globalization and financialization. The ascent of China as “workshop of the world” generated a deflationary wave of lower […]
#280: Not what you’ve been told
#280: Not what you’ve been told A YOUNG PERSON’S GUIDE TO THE ECONOMY Introduction Intended for an educational documentary, The Young Person’s Guide to the Orchestra is a 1945 composition by Bejamin Britten. A similar title – A Young Person’s Guide to King Crimson – was used for a progressive rock compilation album released in 1976. What we need now […]
A recession indicator with a perfect record has been flashing red for 20 months. It may not be wrong yet.
A recession indicator with a perfect record has been flashing red for 20 months. It may not be wrong yet. Yuichiro Chino/Getty Images A recession indicator with a flawless record has been flashing red for 20 months. The economist behind the inverted yield curve says it’s too soon to declare it’s wrong this time. Campbell […]
De-Dollarization Just Accelerated… And You Might Not Even Know About It
De-Dollarization Just Accelerated… And You Might Not Even Know About It BRICS in Nizhny Novgorod, Crickets’ Silence, Saudi Arabia, and Bridges (Away from the U.S. Dollar) This past week has been a real turning point in the de-dollarization trend we’ve been talking about in these pages. Funny enough, the media seems to be completely oblivious to most […]
