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The Financial War Escalates
THE FINANCIAL WAR ESCALATES Behind the scenes, the financial war between America and China is escalating dangerously into a war to secure global financial resources. At a time of growing liquidation of dollar assets by foreigners, the US Treasury’s internal analysis will highlight future government funding problems in the light of a developing US recession. […]
Weekly Commentary: Rejoicing Central Banker Capitulation
Weekly Commentary: Rejoicing Central Banker Capitulation June 21 – Neel Kashkari, Minneapolis Fed president: “In the Federal Open Market Committee meeting that concluded on Wednesday of this week, I advocated for a 50-basis-point rate cut to 1.75% to 2.00% and a commitment not to raise rates again until core inflation reaches our 2% target on […]
The Next 8.6-Year Wave will be Inflationary
The Next 8.6-Year Wave will be Inflationary All the real science is warning that there is a reasonable chance that we are headed into a much colder period ahead. This will have an impact on food prices and out computer models have been warning that the next wave of the Economic Confidence Model should be […]
Provoking Iran Could Start a War and Crash the Entire World Economy
Provoking Iran Could Start a War and Crash the Entire World Economy Tensions in the Persian Gulf are reaching a point of no return. In recent weeks, six oil tankershave been subjected to Israeli sabotage disguised to look like Iranian attacks to induce the United States to take military action against the Islamic Republic. Some days ago Iran rightfully […]
Feeling the Heat of a Civilization on the Downside
Feeling the Heat of a Civilization on the Downside An Epic Folly for the Ages Today we begin with a list. A partial list. And in no particular order… Angela Merkel. Donald Tusk. Mario Draghi. Donald Trump. Jerome Powell. Shinzo Abe. Haruhiko Kuroda. Theresa May. Boris Johnson. Mark Carney. Xi Jinping. Emmanuel Macron. Vladimir Putin. Justin Trudeau. Juan Trump. And many, many more… […]
Connecting the Dots: Insane Trade and Climate Chaos
Connecting the Dots: Insane Trade and Climate Chaos Imagine a world where food routinely gets shipped thousands of miles away to be processed, then shipped back to be sold right where it started. Imagine cows from Mexicobeing fed corn imported from the United States, then being exported to the United States for butchering, and the resulting […]
China Hit By “Significant Banking Stress” As SHIBOR Plummets To Recession Levels
China Hit By “Significant Banking Stress” As SHIBOR Plummets To Recession Levels It’s probably not a coincidence that just days after we reported that China’s interbank market was freezing up in the aftermath of the Baoshang Bank collapse and subsequent seizure, which led to a surge in interbank repo rates and a spike in Negotiable Certificates of […]
Rabobank: “We Are On The Verge Of Lunatic Monetary Policy And Lunatic Fiscal Policy Combined”
Rabobank: “We Are On The Verge Of Lunatic Monetary Policy And Lunatic Fiscal Policy Combined” Ups and Downings One Bloomberg headline says it all for markets: “All Time Highs in Everything American As Risk Rally Crescendoes” Yes, the S&P and Dow are at all-time highs and the talk is of when, not if, US bond […]
Fake Food, Fake Meat: Big Food’s Desperate Attempt to Further the Industrialisation of Food
Fake Food, Fake Meat: Big Food’s Desperate Attempt to Further the Industrialisation of Food Photograph Source: Mattes – CC BY-SA The ontology and ecology of food Food is not a commodity, it is not “stuff” put together mechanically and artificially in labs and factories. Food is life. Food holds the contributions of all beings that make […]
Trying To Prevent Recessions Leads To Even Worse Recessions
Trying To Prevent Recessions Leads To Even Worse Recessions Deutsche Bank strategists Jim Reid and Craig Nicol wrote a report this week that echos what I and other Austrian School economists have been saying for many years: actions taken by governments and central banks to extend business cycles and prevent recessions lead to even more severe recessions […]
Square Minus Zero
Square Minus Zero I intentionally start writing this mere minutes away from Fed chair Jay Powell’s latest comments. Intentionally, because the importance ascribed to those comments only means we have gotten so far removed from what capitalism and free markets are supposed to be about, that it’s pathetic. The comments mean something for rich socialists, […]
Global Negative Yielding Debt Hits Record $12.3 Trillion
Global Negative Yielding Debt Hits Record $12.3 Trillion Somewhere, SocGen’s permabearish strategist Albert Edwards is dancing a jig, as every day that passes bring us every closer to his trademark “Ice Age.” One week after the universe of negative yielding debt regained its prior high of $11.7 trillion, overnight – thanks to the dovish capitulations by both the ECB […]
It IS Different This Time
It IS Different This Time They’re right. It IS different this time. It’s worse. Much, much worse. What is? Everything. In terms of preparedness for the next recession that is. Debt is higher than ever, be it corporate debt, government debt, central banks balance sheets, available ammunition to deal with a new recession, wealth inequality, […]
Dear Central Bankers: Prepare to be Swept Away in the Next Wave of Populism
Dear Central Bankers: Prepare to be Swept Away in the Next Wave of Populism The political moment when the “losers” connect their discontent and decline with central bankers is approaching. The Ruling Elites’ Chattering Classes still haven’t absorbed the key lesson of the 2016 U.S. presidential election: the percentage of the populace that’s becoming wealthier and […]
