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For Oil and Its Dependents, It’s Code Blue
For Oil and Its Dependents, It’s Code Blue The great price collapse of 2020 will topple companies and transform states. If oil has been laid low by the coronavirus, then the nations whose economies most depend on it might soon be on ventilators. By any prognosis the great oil price collapse of 2020 has pushed […]
Let the Institutional Innovation Begin! (Part I)
Let the Institutional Innovation Begin! (Part I) In corvid-19, neoliberal capitalism has met a formidable foe. The pandemic has shown just how fragile and dysfunctional the market/state order — as a production apparatus, ideology, and culture — truly is. Countless market sectors are now more or less collapsing with a highly uncertain future ahead. With […]
The Greatest Financial Crisis & Hyperinflation
THE GREATEST FINANCIAL CRISIS & HYPERINFLATION A Hyperinflationary Depression has always been the inevitable end to the biggest financial bubble in history. And this time it will be global. Hyperinflation will spread from country to country like Coronavirus. It could start anywhere but the most likely first countries are the US and the EU or ED (European […]
The Trickle-Up Bailout
The Trickle-Up Bailout It’s early days, but the Federal Reserve “bazooka” has mostly impacted the 1% Take a look at some contrasting sets of headlines. First, from planet earth: Weekly Jobless Claims Hit 5.425 Million, Raising Monthly Loss To 22 Million Due To Coronavirus (CNBC) Worst Case Fears Of 20%-Plus U.S. Jobless Rate Are Now Realistic (Bloomberg) […]
The looming derivative crisis
The looming derivative crisis The powerful forces of bank credit contraction are at the heart of a rapidly evolving financial crisis in global derivatives, whose gross value is over $600 trillion; an unimaginable sum. Central banks are on course to destroy their currencies through unlimited monetary expansion, lethal for bullion banks with fractionally reserved unallocated […]
Peter Schiff: This Is a Financial Crisis
Peter Schiff: This Is a Financial Crisis A lot of people in the mainstream still insist this isn’t a financial crisis like we saw in 2008. They say this is just a self-inflicted shutdown of the economy. Since we decided to shut it down, we can decide to start it back up again. Peter Schiff […]
We’re Not Going Back to Normal
We’re Not Going Back to Normal Turn the key and the economy will restart. That’s a myth a lot of people in the mainstream have peddled since governments started shutting down the economy in response to the coronavirus pandemic. That’s not going to happen. We’re not going back to normal. In fact, things weren’t “normal” […]
Cover-19 and the Death of Market Fundamentalism
COVID-19 AND THE DEATH OF MARKET FUNDAMENTALISM On top of the countless human tragedies, there will be many long-lasting social and economic impacts of the COVID-19 pandemic. Perhaps none will be more profound though, than the death of free market fundamentalism and the return of the State. Why now? After all, there have long been […]
Covid-19 and the Collapse of Cash
Covid-19 and the Collapse of Cash In my last article I referred to how since fears of Covid-19 in the UK took root in March, cash usage has fallen dramatically. Whilst the drop off has been substantial, the trend of cash payments being in decline is long established. Based on early evidence, the coronavirus pandemic has exacerbated this […]
OPINION: Foxes in the henhouse – Who decides where bailout money goes?
OPINION: Foxes in the henhouse – Who decides where bailout money goes? In the wake of the COVID-19 pandemic, trillions of bailout dollars in the U.S. and Canada are about to be fire hosed into particular areas of the economy. Given that this is public money held by governments, who decides where and to whom […]
Oil, Gas, Petrochemical Financial Woes Predate Pandemic — And Will Continue After, Despite Bailouts, Report Finds
Oil, Gas, Petrochemical Financial Woes Predate Pandemic — And Will Continue After, Despite Bailouts, Report Finds The oil, gas, and petrochemical industries have taken a massive financial blow from the COVID-19 pandemic, a new report from the Center for International Environmental Law (CIEL) concludes, but its financial troubles preexisted the emergence of the novel coronavirus and are likely to extend […]
Will it be an Inflationary or Deflationary Depression?
Will it be an Inflationary or Deflationary Depression? At some point, the economy is no longer controlled by individual citizens in the marketplace but by government “planners,” who find they have only one of two alternatives: stop “stimulating” and permit a full-scale credit collapse, or continue stimulating until the dollar loses all value and society […]
A Pandemic Iceberg Hits the ‘Unsinkable’ U.S. Economy– A Map Ahead
A Pandemic Iceberg Hits the ‘Unsinkable’ U.S. Economy– A Map Ahead The ‘unsinkable’ Titanic was designed to withstand a breach of four compartments, ensuring the ship would stay afloat. On the evening of April 14, 1912, the ship hit an iceberg, breaching five compartments, and within two and half hours, the vessel sank. Many investors […]
Overcapacity / Oversupply Everywhere: Massive Deflation Ahead
Overcapacity / Oversupply Everywhere: Massive Deflation Ahead The price of a great many assets will crash, out of proportion to the decline in demand. Oil is the poster child of the forces driving massive deflation: overcapacity / oversupply and a collapse in demand. Overcapacity / oversupply and a collapse in demand are not limited to the […]
Credit Markets – The Waiting Game
Credit Markets – The Waiting Game Everything and the Kitchen Sink After the first inter-meeting rate cut in early March, we opined that further rate cuts were a near certainty and that “not-QE” would swiftly morph into “QE, next iteration” (see Rate Cutters Unanimous for the details). As it turned out, the monetary mandarins did not even […]
