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Are We in a Recession Already?
Are We in a Recession Already? The value of declaring the entire nation in or out of recession is limited. Recessions are typically only visible to statisticians long after the fact, but they are often visible in real time on the ground: business volume drops, people stop buying houses and vehicles, restaurants that were jammed […]
Degrowth: Toward a Green Revolution
Degrowth: Toward a Green Revolution The Americanism that people will never voluntarily give up the consumption that is killing the planet represents the triumph of a long con. The problem that consumed (apologies) economists in the early twentieth century was how to get people to want the stuff that capitalism produces. Past the point of […]
Irish Central Bank Refuses To Discuss If Gold Reserves Are In Bank of England Vaults
Irish Central Bank Refuses To Discuss If Gold Reserves Are In Bank of England Vaults – As Brexit looms, the Central Bank of Ireland has refused to discuss the location and value of Irish gold reserves – No date given for removal of “commercially sensitive” gold reserves from Bank of England vaults – Bank of England […]
Money: the silent killer
Money: the silent killer In Sweden, which is famously on the way to becoming cash-free, you can find signs in shop windows that say ‘we don’t take cash because electronic payments are better for the environment’. Since cash does require a certain amount of resource use for its production process and transportation, and since in […]
Unlike a Globalized Food System, Local Food Won’t Destroy the Environment
Unlike a Globalized Food System, Local Food Won’t Destroy the Environment If you’re seeking some good news during these troubled times, look at the ecologically sound ways of producing food that have percolated up from the grassroots in recent years. Small farmers, environmentalists, academic researchers and food and farming activists have given us agroecology, holistic […]
A Global Dearth of Liquidity
A Global Dearth of Liquidity Worldwide Liquidity Drought – Money Supply Growth Slows Everywhere This is a brief update on money supply growth trends in the most important currency areas outside the US (namely the euro area, Japan and China) as announced in in our recent update on US money supply growth (see “Federal Punch […]
Dear Canada, WTF?
Dear Canada, WTF? Just hours ago, The Bank of Canada held rates steady and complained about various internal and external factors that were negatively impacting the Canadian economy… Holding rates unchanged at 1.75%, the BOC cited almost everything that has gone wrong: moderating global growth, a “materially weaker” outlook for the oil sector, a faster-than-expected […]
The New Economic Hitmen
The New Economic Hitmen John Perkins original book, “Confessions of an Economic Hitman” and his current book, “New Confessions of an Economic Hitman” brought to light some of the strategies the US has used over the years in order to gain control of foreign reserves that American companies may want to seize, such as oil. […]
Economic Downturn: Credit Cards Aren’t Being Paid, Accounts Are Being Closed
Economic Downturn: Credit Cards Aren’t Being Paid, Accounts Are Being Closed A new report is shining some light on an indicator that the economy is about to take a major downturn. Credit card accounts are not being paid and some accounts are being closed in anticipation for an upcoming recession. Credit-card delinquencies, application rejections, and […]
The Other Two Kinds Of Debt
The Other Two Kinds Of Debt “Any corporation, private or governmental, that wishes to provide for a sound and equitable continuity of its business must take steps towards the systematic retirement of debt immediately after it has been incurred. Postponement of all payment for property or privileges by those who presently enjoy their benefits is […]
The Makings of a Global Debt Crisis Are in Place
The Makings of a Global Debt Crisis Are in Place In 2017, the financial world was filled with talk of synchronized sustainable growth in major economies for the first time since before the 2008 global financial crisis. This was being proclaimed by global financial elites including Christine Lagarde, head of the IMF. Now that vision […]
Trump: “I Won’t Be Here” When The Coming Debt Crisis Goes Nuclear
Trump: “I Won’t Be Here” When The Coming Debt Crisis Goes Nuclear President Trump reportedly shrugged off concerns over the ballooning national debt, telling senior advisers in an early 2017 meeting “Yeah, but I won’t be here” when presented with “charts and graphics layout out the numbers and showing a “hockey stick” spike in the […]
Blain: “I Think The Global Trade War Is Now A Shooting War”
Blain: “I Think The Global Trade War Is Now A Shooting War” Blain’s Morning Porridge submitted by Bill Blain “Why So Serious?” I think the Global Trade War is now a shooting war. A few weeks ago one of my very smart CIO contacts warned me the real story of the year isn’t just the […]
Trade Truce? Think Again: Canadian Authorities Arrest CFO of Huawei Technologies
Trade Truce? Think Again: Canadian Authorities Arrest CFO of Huawei Technologies At the request of the US, Canadian Authorities arrest Meng Wanzhou, CFO of Huawei Technologies, over Iran sanctions viol Trade Truce? Deal with China in 90 days? Think again on both counts: Canadian Authorities Arrest CFO of Huawei Technologies at U.S. Request A spokesman […]
