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Unstoppable: The Greatest Depression and the Reverse Wealth Effect
Unstoppable: The Greatest Depression and the Reverse Wealth Effect We are entering The Greatest Depression because there is no exit. I’ve endeavored to explain why The Greatest Depression is unstoppable in recent posts: The Covid-19 Dominoes Fall: The World Is Insolvent March 16, 2020 Pandemic Pandemonium: The Tides of Globalization and Financialization Reverse March 31, 2020 Here’s […]
Incubation Phase: Gradually and then Suddenly
Incubation Phase: Gradually and then Suddenly Key points 1) The May jobs “shocker” was largely a reflection of CARES coverage of corporate payrolls. 2) The gap between Wall Street and Main Street appears similar to the “incubation phase” of other major downturns. 3) Federal support remains essential, but is best targeted toward preserving the “circular flow” of the […]
Soaring Food & Energy Costs Spark Rebound In Producer Prices
Soaring Food & Energy Costs Spark Rebound In Producer Prices Producer Prices rebounded MoM in May with headline Final Demand PPI rising 0.4% (against +0.1% exp) but it left PPI YoY still down 0.8%… Some serious dispersion in the various sector’s price swings… This rebound was driven by a record surge in food prices… Two-thirds of […]
The Chilling Things Delta Said about the Airline Business, the 90% Collapse in Q2 Revenues, and Why Some Demand Destruction May Be “Permanent”
The Chilling Things Delta Said about the Airline Business, the 90% Collapse in Q2 Revenues, and Why Some Demand Destruction May Be “Permanent” Shares go to heck after the mother of all revenue-warnings, plunge 20% in two days, including 7% after hours. Its disclosure confirms Buffett’s decision to dump his airlines in mid-crash. Delta Airlines […]
No, The U.S. Economy Will Definitely Not Be Returning To “Normal”. In Fact, Things Will Soon Get Even Worse.
No, The U.S. Economy Will Definitely Not Be Returning To “Normal”. In Fact, Things Will Soon Get Even Worse. 2020 has been quite a year so far. It has been one nightmare after another, and yet the economic optimists continue to insist that economic activity will soon snap back to normal levels somehow. So the […]
Blain’s Morning Porridge – June 11 2020: The illusion wears thin
Blain’s Morning Porridge – June 11 2020: The illusion wears thin “It is the system that deserves to be blamed. What those who wish to perpetuate the system deserve is another question.” The Fed did exactly what was expected – nay, demanded! Asset purchase volumes will be maintained while rates will remain near zero for […]
The $USD is Warning Us That Something Big is Coming
The $USD is Warning Us That Something Big is Coming Things are beginning to get out of control in currency land. The $USD is collapsing. Astute chart readers will note that the $USD has already experienced two sharp drops in the last few months (blue rectangles in the chart below). They occurred in late February […]
There’s a Crisis in US Capitalism
There’s a Crisis in US Capitalism Capitalism has always had business cycles. The capitalist enterprises that produce goods and services are distinctively organized around the conflicted relationship of employer and employees and the competitive relationship of markets. These central relationships of capitalism together generate cyclical instability. Wherever capitalism became a society’s economic system over the […]
Lower Highs, Lower Lows, Eventual Dow 5,000 – Charles Nenner
Lower Highs, Lower Lows, Eventual Dow 5,000 – Charles Nenner Renowned geopolitical and financial cycle expert Charles Nenner called the top of this market just 2% from the top in late January. Nenner predicted the stock market could go down as much as 40%. It went down about 38%. After much money printing and to […]
Governments Have Crippled the World’s Economies. Revolution May Soon Follow.
GOVERNMENTS HAVE CRIPPLED THE WORLD’S ECONOMIES. REVOLUTION MAY SOON FOLLOW. The world seems to be on fire. A couple of months ago, the economic upswing was still firmly established, production expanded, and unemployment was declining. It all changed with the advent of the coronavirus or, to be precise: things turned really sour with the politically […]
The Altruist Within: In pursuit of sustainability and justice in a broken financial system
The Altruist Within: In pursuit of sustainability and justice in a broken financial system This blog is an edited version of a keynote CUSP director Tim Jackson gave at the 2013 Sea of Faith Annual Conference in Leicester. In outlining the philosophical foundation of a different approach to economics, this essay speaks as much to the financial […]
As Economies Reopen, the USD Faces this Triple Threat
As Economies Reopen, the USD Faces this Triple Threat The U.S. dollar’s status as the global reserve currency has been under attack for many years. But today, these attacks seem to be expanding and intensifying. Let’s look at three recent developments. Big Bank Bets Against the Dollar Now that most state economies have at least started to reopen, […]
EU Economy Traveling Along Same Worn Dead-end Road
EU Economy Traveling Along Same Worn Dead-end Road With so many countries across the world facing difficulties, many people have yet to notice the Euro-Zone has become a place where hope goes to die. The last round of elections in the Euro-Zone should bring little comfort to those supporting a stronger Europe. Huge gains were […]
Most U.S. States Have ‘Reopened’ Their Economies, So Why Does Unemployment Continue To Spiral Out Of Control?
Most U.S. States Have ‘Reopened’ Their Economies, So Why Does Unemployment Continue To Spiral Out Of Control? This wasn’t supposed to happen. Once states started to “reopen” their economies, the tsunami of unemployment was supposed to end. But instead, we continue to see Americans lose jobs at a pace that is far beyond anything we […]
