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The Hard Asset Inflation / Paper Asset Deflation Theory
The Hard Asset Inflation / Paper Asset Deflation Theory All fiat currencies are no more than floating abstractions of value. Society has put its faith in fiat currency issued by governments. These government-issued currencies are not backed by a physical commodity, such as gold or silver, but rather by the promises from the government that […]
The Coming Collapse of the Global Ponzi Scheme
The Coming Collapse of the Global Ponzi Scheme It won’t be long before governments around the world, including the one in Washington, self-destruct. Strong words, but anything less would be naïve. As economist Herbert Stein once said, “If something cannot go on forever, it has a tendency to stop.” Case in point: fiat money political regimes. Interventionist […]
The Failure of Neoliberalism
The Failure of Neoliberalism Backing Up Macro Alf, & Showcasing Ravel, in 11 plots and two averages The macro commentator Alfonso Peccatiello, who writes as @MacroAlf on Twitter/X and publishes the Macro Compass newsletter, recently posted an excellent thread on private debt that cited my work: Let me show you one of the most underrated and yet crucial […]
A Reader Asks “Does an Increase in Money Supply Cause Inflation?”
A Reader Asks “Does an Increase in Money Supply Cause Inflation?” This seemingly simple question, is not so simple. What is the money supply? How does one measure inflation. Other Deposit Liabilities vs M2, monthly average via St. Louis Fed ODL vs M2 Chart Notes Other Deposit Liabilities (ODL see description below), is a monthly […]
Why You Are Feeling So Much Poorer
Why You Are Feeling So Much Poorer We are living through the largest pillaging of the American middle class in a half-century. It’s not in the headlines. This is extremely strange. In fact, this might be the first and only article you have read about it. This could be for a reason. If people knew […]
Why the world’s big debt loads may be here to stay
Why the world’s big debt loads may be here to stay Illustration: Brendan Lynch/Axios Staggeringly high government debt levels around the globe may stick — a huge shift from previous years that could come despite the warnings of economic damage this dynamic may cause. Why it matters: Aging populations, worsening partisanship, steepening interest rates and other factors could […]
Critics of ‘degrowth’ economics say it’s unworkable – but from an ecologist’s perspective, it’s inevitable
Critics of ‘degrowth’ economics say it’s unworkable – but from an ecologist’s perspective, it’s inevitable You may not have noticed, but earlier this month we passed Earth overshoot day, when humanity’s demands for ecological resources and services exceeded what our planet can regenerate annually. Many economists criticising the developing degrowth movement fail to appreciate this critical point of Earth’s biophysical […]
It Bears Repeating: Best Of…Volume 1
Recently released: It Bears Repeating: Best Of…Volume 1 A compilation of writers focused on the nexus of limits to growth, energy, and ecological overshoot. With a Foreword and Afterword by Michael Dowd, authors include: Max Wilbert; Tim Watkins; Mike Stasse; Dr. Bill Rees; Dr. Tim Morgan; Rob Mielcarski; Dr. Simon Michaux; Erik Michaels; Just Collapse’s […]
Will This Fall Be the Fall of Falls?
WILL THIS FALL BE THE FALL OF FALLS? MAMChat Egon von Greyerz & Matt Piepenburg This 25 minute video with Matthew Piepenburg and myself is probably one of the most important discussions that we have had. For years we have both warned investors about the consequences of a system based on unlimited money printing, debt […]
Xi, Putin Hail First BRICS Expansion In Over A Decade As Gulf Oil Powers Join
Xi, Putin Hail First BRICS Expansion In Over A Decade As Gulf Oil Powers Join At a moment China and Russia have envisioned the future of BRICS as fundamentally an anti-Western bloc of developing nations, the Gulf oil powers Saudi Arabia and the United Arab Emirates have been formally invited to become members, which marks the bloc’s first expansion […]
The global bank credit crisis
The global bank credit crisis Globally, further falls in consumer price inflation are now unlikely and there are yet further interest rate increases to come. Bond yields are already on the rise, and a new phase of a banking crisis will be triggered. This article looks at the factors that have come together to drive […]
