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Third and Final Leg of Stock Market Crash in October or Sooner – Part 3 of 3
Third and Final Leg of Stock Market Crash in October or Sooner – Part 3 of 3 This is the final part in a series of articles explaining why I expect the third and final leg of the crash that began in October 2018 to occur in October 2019, or sooner, and see the S&P […]
Cyber wars and all that
Cyber wars and all that Behind the Huawei story, we must not forget there is a wider financial war being waged by America against China and Russia. Stories about China’s banks being short of dollars are incorrect: the shortage is of inward capital flows to support the US Government’s budget deficit. By attracting those global […]
The Company Store
The Company Store Leaves almost nothing to live on In the song Sixteen Tons by Merle Travis (and made famous by Tennessee Ernie Ford), the idea of the ‘company store’ referred to a system of debt bondage that effectively trapped workers within an unfair system designed to harvest all of their labor at very low cost. You […]
Canadian Oil Driller Abruptly Shuts Down, Abandons 4,700 Wells
Canadian Oil Driller Abruptly Shuts Down, Abandons 4,700 Wells A junior Canadian gas E&P company has shut down abruptly, leaving as many as 4,700 wells behind, CBC reports, quoting the Alberta Energy Regulator, which said it had sent Trident Exploration Corp. an order to manage its wells, to which the company did not respond. Trident closed […]
OPEC Collapse Likely, Warns Iran’s Oil Minister
OPEC Collapse Likely, Warns Iran’s Oil Minister Iran has warned that OPEC might “collapse” due to the “unilateral actions” by some of its members, in a clear jab at Saudi Arabia. “Iran is a member of OPEC because of its interests, and if other members of OPEC seek to threaten Iran or endanger its interests, Iran will not remain […]
The Crash In US Economic Fundamentals Is Accelerating
The Crash In US Economic Fundamentals Is Accelerating When looking at the health of an economic system it is impossible to gauge growth or stability by only taking two or three indicators into account. The problem is, this is exactly what central banks and governments tend to do. In fact, governments and central banks wildly […]
One Bank Asks “Is The Fed Losing Control Of The Interest Rate System”
One Bank Asks “Is The Fed Losing Control Of The Interest Rate System” Last Wednesday, before the Fed “unexpectedly” cut its IOER rate by 5bps o 2.35%, we warned that the “Fed Loses Control Of Rates” when pointing out the ongoing divergence of the effective fed funds rate from the Overnight Repo – IOER rate […]
Endgame: Starting In 2024, All US Debt Issuance Will Be Used To Pay For Interest On Debt
Endgame: Starting In 2024, All US Debt Issuance Will Be Used To Pay For Interest On Debt While it is common knowledge that the US budget deficit is soaring even though the US economy is allegedly growing at a brisk, mid-2% pace, resulting in recurring bond trader nightmares about funding the growing twin US deficits […]
The Frontlines in the War on Cash
The Frontlines in the War on Cash Let’s face it, many forces are pushing for the abolition of – or at least serious restrictions on – cash. Many businesses hate cash, because cash transactions take longer to process, and large quantities of cash pose a security risk. If you travel by air, you’ve experienced this […]
The climate change story is half true
The climate change story is half true The climate change story is true is some respects: The climate is indeed changing. And CO2 emissions do seem to affect climate. Burning fossil fuels does indeed make a difference in CO2 levels. The problem I have with the climate change story is that it paints a totally inaccurate […]
The Fed’s Dangerous Inflation Game
The Fed’s Dangerous Inflation Game By now you’ve heard that the U.S. economy expanded at an annualized rate of 3.2% in the first quarter of 2019. That was reported by the Commerce Department last Friday morning. That strong growth coming on top of 4.2% in Q2 2018 and 3.4% in Q3 2018 means that in […]
UNLOCKED: The Curious Case of Rising Fuel Prices and Shrinking Inflation
UNLOCKED: The Curious Case of Rising Fuel Prices and Shrinking Inflation On Friday, April 26, 2019, the market was stunned with a much stronger than expected 3.2% rate of first-quarter economic growth. Wall Street expectations were clearly off the mark, ranging from 1.3-2.3%. The media took this as a sign the economy is roaring. To […]
$1 Billion In Iranian Crude Is Stranded At A Chinese Port
$1 Billion In Iranian Crude Is Stranded At A Chinese Port It’s no secret that Beijing has chafed at American audacity to try and dictate whom Chinese refineries can and can’t buy oil from. And in the latest example of just how aggravating the decision to end waivers for Iranian crude imports has been for […]
The Great Unknown
The Great Unknown QUESTION: Martin, if Europe and Japan have destroyed their bond markets, would it be a good idea for them to get the government out of the bond market and have short term rates be floating in the free market? The free market would probably help since they don’t know how to move rates […]
All That’s Missing Is a Black Swan
All That’s Missing Is a Black Swan “There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the […]
