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Australia Turning Really Authoritative? Is this How a Dark Age Begins?
Australia Turning Really Authoritative? Is this How a Dark Age Begins? The greed of governments in their pursuit of money is the single greatest threat to creating a Dark Age. With New Zealand imposing a $5,000 fine for just landing there and you refuse to hand over your pen and passwords to your phone for […]
US Spending On Interest Hits All Time High As Budget Deficit In Trump’s First Year Soars To $779 Billion
US Spending On Interest Hits All Time High As Budget Deficit In Trump’s First Year Soars To $779 Billion One month ago we already knew that the U.S. budget deficit for the 2018 fiscal year – Trump’s first full year in office – would be jarring after the August deficit soared to $211 billion, nearly […]
Peter Schiff: The Next Economic Crash Will Be “Far More Painful” Than The 2008 Recession
Peter Schiff: The Next Economic Crash Will Be “Far More Painful” Than The 2008 Recession Euro Pacific Capital CEO Peter Schiff is sounding the alarm after this week’s market selloff, saying Wall Street and the U.S. economy are on the verge of a recession. “I think as Americans lose their jobs, they are going to see the […]
Saudi Blowback Wipes Billions From Softbank Shares
Saudi Blowback Wipes Billions From Softbank Shares Refusing to be cowed by a flurry of cancellations that have effectively gutted Riyadh’s Future Investment Initiative – colloquially known as “Davos in the Desert” – Saudi Arabia has lashed out at the US and its Western allies, warning that there will be hell to pay if anybody […]
Global Markets Continue To Fall As Bloomberg Warns “The Next Financial Crisis Is Staring Us In The Face”…
Global Markets Continue To Fall As Bloomberg Warns “The Next Financial Crisis Is Staring Us In The Face”… It looks like it could be another tough week for global financial markets. As the week began, markets were down all over the world, and relations between the United States and Saudi Arabia have taken a sudden […]
Choking On the Salt of Debt
Choking On the Salt of Debt Life After ZIRP Roughly three years ago, after traversing between Los Angeles and San Francisco via the expansive San Joaquin Valley, we penned the article, Salting the Economy to Death. At the time, the monetary order was approach peak ZIRP. Our boy ZIRP has passed away. Mr. 2.2% effective […]
Blain: “Liquidity Will Be The Murder Weapon”
Blain: “Liquidity Will Be The Murder Weapon” “Slain, after all man’s devices had failed, by the humblest things that God, in his wisdom, has put upon this earth”” After last week’s stock market ructions, my market spidey senses are tingling… https://morningporridge.com/stuff-im-watching In the headlights this morning: Saudi Arabia: forget the IPO and worry about MbS […]
The World’s Fragile Economic Condition – Part 2
The World’s Fragile Economic Condition – Part 2 The world economy can appear to be operating quite well but can be hiding a major problem that causes it to be fragile. My presentation The World’s Fragile Economic Condition (PDF) explains why we should expect financial problems if energy consumption stops growing sufficiently rapidly. In fact, a global […]
Climate Crisis is Upon Us
Climate Crisis is Upon Us One of the more useful allusions hidden in plain sight in the recent IPCC / UN report on climate crisis is the distinction between the pre-industrial and industrial ages that defines the era of climate crisis. Industrial capitalism, a/k/a capitalism, is the cause of climate crisis. Plenty of pseudo-scientific rubbish […]
Violence, Public Anger Erupts In China As Home Prices Slide
Violence, Public Anger Erupts In China As Home Prices Slide Last March, we discussed why few things are as important for China’s wealth effect and economy, as its housing bubble market. Specifically, as Deutsche Bank calculated at the time, “in 2016 the rise of property prices boosted household wealth in 37 tier 1 and tier […]
Relative Scarcity of Physical Gold Prompts Large Drawdowns From Funds and ETFs
Relative Scarcity of Physical Gold Prompts Large Drawdowns From Funds and ETFs “It appears that there is a dwindling and overleveraged supply heading towards an unmanageable and relentless source of demand.” It is interesting to watch the ongoing management of physical gold holdings in the West. Physical gold has been seeing large drawdowns from inventory […]
Hedge Fund CIO: “Some See Parallels Between Today And The Late-1930s, Which Led To World War II”
Hedge Fund CIO: “Some See Parallels Between Today And The Late-1930s, Which Led To World War II” The future is unknowable. Yet never has capital been so concentrated in strategies that depend on the future closely resembling the past. The most dominant of these strategies requires bonds to rally when stocks fall. For decades, both […]
Shocktober’s Not Over – McElligott Sees More “Rolling Minsky Moments” As “Pseudo-Stability” Unravels
Shocktober’s Not Over – McElligott Sees More “Rolling Minsky Moments” As “Pseudo-Stability” Unravels Just before last week’s interest-rate driven market selloff entered its most acute phase, we cited CTA positioning data from Nomura showing that systematic funds had not yet begun the painful process of deleveraging as certain “triggers” had not yet been met. But […]
Yes, Something Broke
Yes, Something Broke In this missive, we are just going to focus on the “WTF!” moment of this past week. In order to do this properly, I need to start with last week’s missive where we asked the question “Did Something Just Break?” In that article we addressed very specific concerns about interest rates and the problem they […]
Saudi Stocks Crash Most Since 2016 As Riyadh Threatens US With “Very Strong” Retaliation
Saudi Stocks Crash Most Since 2016 As Riyadh Threatens US With “Very Strong” Retaliation Saudi Arabia warned on Sunday it would respond to any “threats” against it as its stock market crashed the most since 2016 after President Trump’s warning of “severe punishment” over the disappearance of Washington Post contributor Jamal Khashoggi. On Saturday, Trump […]
