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MacroView: The Next “Minsky Moment” Is Inevitable
MacroView: The Next “Minsky Moment” Is Inevitable In 2007, I was at a conference where Paul McCulley, who was with PIMCO at the time, was discussing the idea of a “Minsky Moment.” At that time, this idea fell on “deaf ears” as the markets, and economy, were in full swing. However, it wasn’t too long before the 2008 “Financial Crisis” brought […]
Part Two of Surveillance Capitalism at the Limits to Economic Growth – social controls through digital infrastructures have bio-physical limits
Part Two of Surveillance Capitalism at the Limits to Economic Growth – social controls through digital infrastructures have bio-physical limits Part Two For Shoshana Zuboff, to be human involves using one’s will to shape one’s own future. In this respect she draws on the philosopher Hannah Arendt. Arendt analysed the totalitarianism of Nazi Germany and […]
The Consequence of Globalism Is World Instability
The Consequence of Globalism Is World Instability If the coronavirus proves to be serious, as it does not appear to be at the present time, many economies could be adversely affected. China is the source of many parts supplied to producers in other countries, and China is the source of the finished products of many […]
Narrow
Narrow New highs again for tech as $NDX keeps relentlessly crawling higher, now 16.2% extended above its 200MA. As outlined yesterday’s it’s a key warning signal. This latest rally has produced another warning signal and that is the leadership in $NDX is narrowing dramatically. Narrowing leadership has spelled trouble for $NDX in the past, especially as it […]
Rabobank: The Dilemma Facing China Is Truly Awful
Rabobank: The Dilemma Facing China Is Truly Awful As has been the case since Monday’s sell-off, there is an attempt to try to look on the bright side of the virus headlines. Chinese officials are spreading the word globally that things are under control and that other countries should not be closing their borders to […]
Brace For A Global Crisis In 2020
Brace For A Global Crisis In 2020 The year 2020 could emerge as the start of the era of relative global chaos or major upheaval. It is the era we have been anticipating, as the impact of core population decline meets economic dislocation, and security and structural uncertainty. Changes in the fundamental sociological framework of […]
State of Denial
State of Denial Once again investors are made to believe that nothing matters. Only 2 trading days after Friday’s sell off $NDX made new all time history highs. Only 3 days after Friday’s sell-off $SPX made a new all time closing high. Only 4 days after Friday’s sell off $DJIA, $SPX and $NDX make new […]
Another Massively Oversubscribed Term Repo Confirms Persisting Liquidity Woes
Another Massively Oversubscribed Term Repo Confirms Persisting Liquidity Woes Two days after dealers unexpectedly flooded the first reduced term-repo (from $35BN previously to $30BN) offered by the Fed, the liquidity shortage in the repo market – which was supposed to be temporary and few if any strategists said would continue beyond year-end – persists, and […]
EVERYTHING but Bullion & Commodity BUBBLE
EVERYTHING but Bullion & Commodity BUBBLE I am going to start with something you hopefully can intuit as factual. Flacid fiat currency values in the aggregate, remain in their greatest bubble of all time. How do we know this?! Because gold bullion is nowhere near what the parasitical establishment will predictably and way too early describe as being in some valuation ‘bubble.’ The coming gold […]
The State of the Union: An Annual Reminder of Inevitable Default
The State of the Union: An Annual Reminder of Inevitable Default Last night’s State of the Union was particularly noteworthy for its showmanship. Scholarships were given away, medals were awarded, families reunited. At a time when national politics is bad theater, President Trump is clearly its most gifted star. Trump also knows what sells. As […]
US Launches Criminal Probe Into JPMorgan For Gold Price Manipulation
US Launches Criminal Probe Into JPMorgan For Gold Price Manipulation There was a time when the merest mention of gold manipulation in “reputable” media was enough to have one branded a perpetual conspiracy theorist with a tinfoil farm out back… and immediately banned from social media. That was roughly coincident with a time when Libor, […]
Code blue: Pandemics and hospital surge capacity in a just-in-time world
Code blue: Pandemics and hospital surge capacity in a just-in-time world We may be about to see the sad fruits of so-called just-in-time (JIT) inventory systems applied to hospitals in the United States and elsewhere. Fourteen years ago I first wrote about the vulnerabilities of such systems across society including health care systems. (Other observers have more recently noted this […]
When China’s Supply Chains Break, so Will the Delusion the U.S. Economy Is Invulnerable
When China’s Supply Chains Break, so Will the Delusion the U.S. Economy Is Invulnerable Was it ever plausible that China’s economy could grind to a halt and there wouldn’t be any consequences for the U.S. economy? No. Many commentators talk about supply chains in China, but how many have actually visited factories in China, other […]
“Made in China” Economic Hit Coming Right Up
“Made in China” Economic Hit Coming Right Up Economic contagion due to the coronavirus is underway. Hyundai halted production. Sony, Apple, and Ford issued warnings. If you can’t get parts, you can’t build cars. And due to a coronavirus-related manufacturing halt in China, Hyundai to Shut Down Some Production. Hyundai, the world’s fifth-largest carmaker, announced Tuesday […]
Foxconn Extends Delay, Won’t Restart iPhone Production Until Late February
Foxconn Extends Delay, Won’t Restart iPhone Production Until Late February Everything is wonderful Wednesday morning, because an unverified report from Chinese state television sparked a massive surge in equity futures as the Communist Party-controlled media intimated that the coronavirus might soon be cured. Cure or no cure, it’s clear the Chinese are going all-in on propaganda for […]
