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Tag Archives: gdp
Don’t Forget About The Red Swan
Don’t Forget About The Red Swan [Urgent Note: The nation’s future and a massive debt ceiling hangs in the balance as Trump pushes beyond the Comey hearings. That’s why I’m on a mission to send my new book TRUMPED! A Nation on the Brink of Ruin… and How to Bring It Back to every American who responds, absolutely […]
World GDP in current US dollars seems to have peaked; this is a problem
World GDP in current US dollars seems to have peaked; this is a problem World GDP in current US dollars is in some sense the simplest world GDP calculation that a person might make. It is calculated by taking the GDP for each year for each country in the local currency (for example, yen) and converting […]
Productivity and Debt
Productivity and Debt William Blake Europe Supported by Africa and America 1796 Earlier this week I was struck by the similarities and differences between two graphs I saw float by. And the thought occurred that they are as scary as they are interesting. The graphs show eerily similar trends. And complement each other. The first […]
The Looming Energy Shock
Carlos E. Santa Maria/Shutterstock The Looming Energy Shock The next oil crisis will arrive in 3 years or less There will be an extremely painful oil supply shortfall sometime between 2018 and 2020. It will be highly disruptive to our over-leveraged global financial system, given how saddled it is with record debts and unfunded IOUs. […]
Why The Markets Are Overdue For A Gigantic Bust
r.classen/Shutterstock Why The Markets Are Overdue For A Gigantic Bust It’s just not possible to print our way to prosperity Let me begin with a caveat: confirmation bias is an ever-present risk for an analyst such as myself. If you’re not familiar with the term, ‘confirmation bias’ suggests that once we’ve invested time and emotional […]
The Fallacy of Endless Economic Growth
THE FALLACY OF ENDLESS ECONOMIC GROWTH What economists around the world get wrong about the future. The idea that economic growth can continue forever on a finite planet is the unifying faith of industrial civilization. That it is nonsensical in the extreme, a deluded fantasy, doesn’t appear to bother us. We hear the holy truth […]
Want to Understand Rising Wealth Inequality? Look at Debt and Interest
Want to Understand Rising Wealth Inequality? Look at Debt and Interest “Governments cannot reduce their debt or deficits and central banks cannot taper. Equally, they cannot perpetually borrow exponentially more. This one last bubble cannot end (but it must).” I often refer to debt serfdom, the servitude debt enforces on borrowers. The mechanism of this […]
Where There’s Smoke…
Where There’s Smoke… …There’s central bank manipulation Central banks around the world have colluded, if not conspired, to elevate and prop up financial asset prices. Here we’ll present the data and evidence that they’ve not only done so, but gone too far. When wee discuss elevated financial asset prices we really are talking about everything. […]
The Economy Is Like a Circus
The Economy Is Like a Circus The economy is like a circus. It comes to town, and eventually it leaves town. We get paid in tickets to this circus. As long as the circus stays in town, we can use our tickets. Once the circus leaves town, we are pretty much out of luck.1 The reason […]
Will Trump Accept Responsibility When This Shitshow Implodes?
WILL TRUMP ACCEPT RESPONSIBILITY WHEN THIS SHITSHOW IMPLODES? Donald J. Trump has taken credit for making America’s economy great again. He’s been crowing about all the jobs being created, the soaring consumer confidence and record highs in the stock market. It’s all because the Donald has inspired Americans about our glorious future. But, a funny […]
The American Dream, Twice Removed
The American Dream, Twice Removed Vincent van Gogh Corridor In The Asylum 1889 Nicole Foss is in Christchurch, New Zealand right now for the Living Economies Expo, and sent me, I’m still in Athens, Greece, a piece written by yet another longtime Automatic Earth reader, Helen Loughrey (keep ’em coming!), who describes her efforts […]
Maybe The Recovery Wasn’t Real After All
Maybe The Recovery Wasn’t Real After All For a while there it looked like the US and its main trading partners had finally achieved escape velocity. Growth was up, inflation was poking through the Fed’s 2% target, and most measures of consumer sentiment were bordering on euphoric. Then it all started to evaporate. Lackluster manufacturing […]
The Long Run Economics of Debt Based Stimulus
The Long Run Economics of Debt Based Stimulus Onward vs. Upward Something both unwanted and unexpected has tormented western economies in the 21st century. Gross domestic product (GDP) has moderated onward while government debt has spiked upward. Orthodox economists continue to be flummoxed by what has transpired. What happened to the miracle? The Keynesian wet […]
Eric Peters: “If China And The World Bank Are Right, We’re Headed For A Depression”
Eric Peters: “If China And The World Bank Are Right, We’re Headed For A Depression” “Some people blindly invested offshore and were in a rush to do so,” explained China’s central bank chief, justifying his recent capital controls. “Some of this outbound investment was not in line with our own policies and had no real […]
