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American Exceptionalism Is on the Ropes and the End of the Petrodollar Is Nigh
American Exceptionalism Is on the Ropes and the End of the Petrodollar Is Nigh From the border wall rhetoric to trade wars, Trump is effectively setting up the implosion of the dollar and couching it as pseudo nationalistic populism. The pressure on the global economy imposed by the measures to curb the COVID-19 pandemic threatens […]
“A Staggering Number”: Over $18 Trillion In Global Stimulus In 2020, 21% Of World GDP
“A Staggering Number”: Over $18 Trillion In Global Stimulus In 2020, 21% Of World GDP On Friday, we relayed the latest observations from BofA chief investment officer, Michael Hartnett who concluded that there is just one bull market to short – namely credit – “and the Fed won’t let you” by which he means all central banks. […]
‘Normal Is the Problem’
‘Normal Is the Problem’ So is normal’s idiot child, ‘the new normal.’ What we’ve made normal never was natural. Sharon Wilson is a fifth-generation Texan who drives around rural communities and takes pictures of oil and gas facilities with an infrared camera. The pictures make visible all the methane pollution that industry and governments pretend […]
Scientists’ warning on affluence
Scientists’ warning on affluence Abstract For over half a century, worldwide growth in affluence has continuously increased resource use and pollutant emissions far more rapidly than these have been reduced through better technology. The affluent citizens of the world are responsible for most environmental impacts and are central to any future prospect of retreating to […]
Can the World Get Along Without Natural Resources?
Can the World Get Along Without Natural Resources? If it is very easy to substitute other factors for natural resources, then there is in principle no “problem”. The world can, in effect, get along without natural resources.– Robert Solow, 1974 In the distant future, aliens come to Earth. They find a planet devoid of life. Looking […]
REVEALED: The Fed’s Next Trick
REVEALED: The Fed’s Next Trick Today we lower our ear to the rail… and report the approach of a rumbling locomotive. Free and honest markets are roped to the tracks, squirming, writhing, sobbing. This iron horse is barreling toward them. Mr. Jerome Powell is at the controls… And murder is on his mind. What is […]
Vatican Asks Catholics to Ditch Fossil Fuel Investments
Vatican Asks Catholics to Ditch Fossil Fuel Investments The Vatican urged Catholics to closely consider where they invest their money and to take a close look at the environmental impact of the companies they may be shareholders in, as Reuters reported. Pope Francis has frequently criticized wanton greed that has led to environmental degradation and a climate crisis that […]
History Tells Us to Own Gold When Central Banks Run Out of Control
HISTORY TELLS US TO OWN GOLD WHEN CENTRAL BANKS RUN OUT OF CONTROL “Extraordinary Popular Delusions and the Madness of Crowds” happen with regular intervals as Charles Mackay wrote about. It seems that the world experiences more delusions and madness than truth and sanity. The pattern is always the same. The economy is never in […]
Why the New Economics Just Boils Down to Printing More Money
WHY THE NEW ECONOMICS JUST BOILS DOWN TO PRINTING MORE MONEY [Editor’s Note: this article is adapted from a 2003 essay in the Quarterly Journal of Austrian Economics entitled “New Keynesian Monetary Views: A Comment.” As economists abandon theory in favor of makeshift plans to flood the economy with stimulus, Hülsmann here provides some helpful reminders of […]
U.S. Debt Has No Meaning Anymore (Until It Eventually Does)
U.S. Debt Has No Meaning Anymore (Until It Eventually Does) Photo by Wikimedia.org | CC BY | Photoshopped The national debt currently looks like a runaway freight train. Not only is it clocking in at $26.1 trillion at the moment, but it has made the jump of the last few trillion dollars fast. Really fast. Wolf Richter summarizes the frenzied ascent in […]
Americans Have Already Skipped Payments On More Than 100 Million Loans, And Job Losses Continue To Escalate
Americans Have Already Skipped Payments On More Than 100 Million Loans, And Job Losses Continue To Escalate Those that have been hoping for some sort of a “V-shaped recovery” have had their hopes completely dashed. U.S. workers continue to lose jobs at a staggering rate, and economic activity continues to remain at deeply suppressed levels […]
LEE CAMP: The Secret Reason Billionaires Love a Pandemic
LEE CAMP: The Secret Reason Billionaires Love a Pandemic You see, there has been a class war going on for years – perpetrated by the rich (who aren’t smarter or better) against everyone else. We live in a time when there are more billionaires walking around than ever before. (They don’t actually walk. They have […]
The International Energy Agency has Joined the Conspiracy Against the World
The International Energy Agency has Joined the Conspiracy Against the World The International Energy Agency has joined the conspiracy outlining a $3 trillion plan to restart the global economy while cutting greenhouse gas emissions, saying that governments have a “once-in-a-lifetime opportunity” to create jobs while decarbonizing infrastructure. Their highly questionable economist Fatih Birol has suddenly come out […]
China’s Central Bank Vows To Expand Total Credit By 30% Of GDP In 2020
China’s Central Bank Vows To Expand Total Credit By 30% Of GDP In 2020 One of the curiosities about the current global financial crisis is that unlike the global financial crisis of 2008 when a massive credit injection by China sparked a generous reflationary wave around the world which pulled it out of a deflationary […]
