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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 […]
Market Update: A Titanic Disaster Ahead?
Market Update: A Titanic Disaster Ahead? Tech stocks now in a classic blow-off top At this point, as go the leading Tech stocks, so go the markets. So much capital has crammed into the tech sector this year that it boggles the mind. Tech stocks now make up 40% of the market cap of the […]
Game Over Spending
Game Over Spending Second quarter 2020 came and went like a California wildfire. The economic devastation caused by the government lockdowns was swift, the destruction immense, and the damage lasting. But, nonetheless, in Q2, the major U.S. stock market indices rallied at a record pace. The Dow booked its best quarter in 33 years. The […]
You Are Now Leaving FantasyLand: The Losses Will Be Taken By Somebody
You Are Now Leaving FantasyLand: The Losses Will Be Taken By Somebody As the inverted pyramid collapses, the effects will be non-linear. Round about late March, we entered a Financial FantasyLand in which all the sins and excesses of rampant financialization were going to be painlessly washed away. Mever mind the entire U.S. economy is an […]
Europe’s Bailouts Risk a Full-Blown Financial Crisis
EUROPE’S BAILOUTS RISK A FULL-BLOWN FINANCIAL CRISIS The measures implemented by governments in the eurozone have one common denominator: a massive increase in debt from governments and the private sector. Loans lead the stimulus packages from Germany to Spain. The objective is to give firms and families some leverage to pass the bad months of […]
Blain’s Morning Porridge – July 10, 2020 – The World Shifts
Blain’s Morning Porridge – July 10, 2020 – The World Shifts “Carthago delenda est” Did you feel the world wobble last night? As Washington imposes sanctions on top level Chinese officals over ethnic abuse in Xinjiang, and waits for Trump to sign “autonomy” action over Hong Kong targeting officials over the new security law, […]
The Movie Villain/The Actual Villain
The Movie Villain/The Actual Villain There’s a meme going around on Twitter again called “The Movie Villain/The Actual Villain”, where people post an image of someone in a movie or a show and then an image of who they think the real bad guy is. Some are getting creative with it and showing people and things in […]
The American Economy in Four Words: Neofeudal, Extortion, Decline, Collapse
The American Economy in Four Words: Neofeudal, Extortion, Decline, Collapse Our society has a legal structure of self-rule and ownership of capital, but in reality it is a Neofeudal Oligarchy. Now that the pandemic is over and the economy is roaring again–so the stock market says–we’re heading straight back up into the good old days […]
World Economy Preparing for Collapse
World Economy Preparing for Collapse The world has changed dramatically in the course of this orchestrated and intended collapse of the global economy in order to launch this Great Reset. In the course of several months, we have watched a deliberate economic disaster under the pretense of this coronavirus pandemic. While the main objective of […]
We Can’t Grow Our Way Out of Poverty
WE CAN’T GROW OUR WAY OUT OF POVERTY For more than half a century, economists and policymakers have focused fanatically on growth as the only feasible way to end global poverty and improve people’s lives. But in an era of planet-wide ecological breakdown, that comfortable conventional wisdom is crashing to an end. Jason Hickel lays it on […]
Deep European Recession Forecast For 2020
Deep European Recession Forecast For 2020 In its Summer Forecast published today, the European Commission downgraded its own projection from earlier in the year, making for an even grimmer outlook for the EU economy in 2020. The -7.4 percent contraction originally expected has been reassessed to -8.3 percent. You will find more infographics at Statista In the EC press […]
