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The World Is Drowning In Debt
The World Is Drowning In Debt According to the IMF, global fiscal support in response to the crisis will be more than 9 trillion US dollars, approximately 12% of world GDP. This premature, clearly rushed, probably excessive, and often misguided chain of so-called stimulus plans will distort public finances in a way in which we have not […]
Can An Increase In the Demand For Money Neutralize the Effect of a Corresponding Increase in Money Supply?
CAN AN INCREASE IN THE DEMAND FOR MONEY NEUTRALIZE THE EFFECT OF A CORRESPONDING INCREASE IN MONEY SUPPLY? According to popular thinking, not every increase in the supply of money will have an effect on the production of goods. For instance, if an increase in the supply is matched by a corresponding increase in the […]
The Bubble In A Fairy Tale World
The Bubble In A Fairy Tale World Great interview with Michael Novogratz, Galaxy Digital founder, CEO, and chairman. He sounds exactly like the global macro heads at GMM. His money quotes from the July 8th CNBC interview should sound very familiar to our readers. Money Quotes Macro set-up is so perfect for something like gold…central banks around […]
A Surge in Small Business Bankruptcies is Underway
A Surge in Small Business Bankruptcies is Underway The new rules make it easier for small businesses to file for chapter 11. And they are. Small Businesses Walking Away In 2008, homeowners walked away from mortgages. Thanks to the Small Business Reorganization Act of 2019 (SBRA), in effect as of February 19, 2020, small businesses have an […]
The new deal is a bad old deal
The new deal is a bad old deal So far, the current economic situation, together with the response by major governments, compares with the run-in to the depression of the 1930s. Yet to come in the repetitious credit cycle is the collapse in financial asset values and a banking crisis. When the scale of the […]
Mexico State Oil Company Files $22 Billion Debt Swap amid IMF Threats and White House Visit
THE “NEW NAFTA” Mexico State Oil Company Files $22 Billion Debt Swap amid IMF Threats and White House Visit Mexico’s economy is put in the crosshairs by the IMF as the “new NAFTA” takes effect and AMLO is forced to make concessions to avoid an even deeper recession. Mexico’s president, Andres Manuel Lopez Obrador, known […]
Green economic growth is an article of ‘faith’ devoid of scientific evidence
Green economic growth is an article of ‘faith’ devoid of scientific evidence Crack team that advised UN Global Sustainable Development Report settle a longstanding debate with hard empirical data For years, financial institutions and governments have been focused on the idea of ‘decoupling’ GDP growth from resource use. This has been driven by the recognition […]
Drumbeats of the Epocalypse: The Economic Death March Has Come to Town!
Drumbeats of the Epocalypse: The Economic Death March Has Come to Town! The coronavirus pandemic inflicted a “swift and massive shock” that has caused the broadest collapse of the global economy since 1870 despite unprecedented government support, the World Bank said.… “This is a deeply sobering outlook, with the crisis likely to leave long-lasting scars […]
The Sinking Titanic’s Great Pumps Finally Fail
The Sinking Titanic’s Great Pumps Finally Fail The greater fools still partying in the first-class lounge are in denial that even the greatest, most technologically advanced ship can sink. On April 14, 1912, the liner Titanic, considered unsinkable due to its watertight compartments and other features, struck a glancing blow against a massive iceberg on that moonless, weirdly […]
A Serious Message From Chris Martenson
A Serious Message From Chris Martenson Time is running short to brace for impact Like a windstorm toppling a hollowed-out tree, SARS-CoV-2 didn’t cause the current recession so much as it exposed how rotten things already were. Even before SARS-CoV-2, households were struggling. Far too many were limping along without any savings at all, one […]
A Staggering Number of Businesses Are Set to Collapse as COVID-19 Continues to Accelerate
A Staggering Number of Businesses Are Set to Collapse as COVID-19 Continues to Accelerate Despite the chaos of the world around us, despite spiking COVID-19 cases, and despite a record number of businesses shuttering their doors (many never to re-open again), markets remain relatively healthy. (Chart source, google finance) This obviously defies all common sense and […]
The Great American Shale Oil & Gas Massacre: Bankruptcies, Defaulted Debts, Worthless Shares, Collapsed Prices of Oil & Gas
The Great American Shale Oil & Gas Massacre: Bankruptcies, Defaulted Debts, Worthless Shares, Collapsed Prices of Oil & Gas The bankruptcy epicenter is in Texas. The Great American Oil Bust started in mid-2014, when the price of crude-oil benchmark WTI began its long decline from over $100 a barrel to, briefly, minus -$37 a barrel […]
The Insane U.S. Budget Deficit Just Went Ballistic
The Insane U.S. Budget Deficit Just Went Ballistic Photo by Defense.gov | CC BY | Photoshopped In recent years, as the government has run annual deficits nearing $1 trillion, they’ve continued to hit the debt ceiling, which is supposed to keep spending in line. But each time, Congress has voted to raise the ceiling so they could continue paying obligations. These […]
The Delusion of a Seamless Reopening Is About to be Obliterated
The Delusion of a Seamless Reopening Is About to be Obliterated During the first wave of pandemic lockdowns, America became a rather surreal place. The initial shock that I witnessed in average people in my area was disturbing. Half the businesses in the region closed and a third of the grocery store shelves were empty. […]
The Bottom’s Falling Out
The Bottom’s Falling Out Imagine you’re standing across the street from a house that’s on the verge of falling apart, a condemned building, an edifice devoured by rot from bottom to top. Now imagine you see a construction crew arriving to repair it, and they start to fix the roof. You would think that’s not […]
