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Venezuela’s New Cryptocurrency: Just Another Form of Control Fraud
Venezuela’s New Cryptocurrency: Just Another Form of Control Fraud If a currency can’t be converted on demand into the underlying commodity, it’s not “backed by oil,” it’s just another form of control fraud. The broke and broken country of Venezuela appears to be the first nation-state to issue a cryptocurrency token (the petro) as a […]
The End of (Artificial) Stability
The End of (Artificial) Stability The central banks’/states’ power to maintain a permanent bull market in stocks and bonds is eroding. There is nothing natural about the stability of the past 9 years. The bullish trends in risk assets are artificial constructs of central bank/state policies. As these policies are reduced or lose their effectiveness, the […]
Russian Meddling: Gagging on the Irony
Russian Meddling: Gagging on the Irony The irony that is most gagging is that America’s power elite is destroying the nation’s social order by its concentration of wealth and abuse of power. The irony of the Deep State’s obsessive focus on “Russian meddling” in the precious bodily fluids of our hallowed democracy is so overwhelming […]
Financial Markets Definitely Destabilizing – Charles Hugh Smith
Financial Markets Definitely Destabilizing – Charles Hugh Smith Financial writer and book author Charles Hugh Smith has been watching the extreme movements in financial markets closely. Is he nervous? Smith says, “Oh yeah, it’s definitely destabilizing. In other words, it’s becoming not just more volatile, the whole underlying structure of our economy is destabilizing. What […]
Our Approaching Winter of Discontent
Our Approaching Winter of Discontent The tragedy is so few act when the collapse is predictably inevitable, but not yet manifesting in daily life. That chill you feel in the financial weather presages an unprecedented–and for most people, unexpectedly severe–winter of discontent. Rather than sugarcoat what’s coming, let’s speak plainly for a change: none of […]
What Just Changed?
What Just Changed? The illusion that risk can be limited delivered three asset bubbles in less than 20 years. Has anything actually changed in the past two weeks? The conventional bullish answer is no, nothing’s changed; the global economy is growing virtually everywhere, inflation is near-zero, credit is abundant, commodities will remain cheap for the […]
What Just Changed?
What Just Changed? The illusion that risk can be limited delivered three asset bubbles in less than 20 years. Has anything actually changed in the past two weeks? The conventional bullish answer is no, nothing’s changed; the global economy is growing virtually everywhere, inflation is near-zero, credit is abundant, commodities will remain cheap for the […]
Three Crazy Things We Now Accept as “Normal”
Three Crazy Things We Now Accept as “Normal” How can central banks “retrain” participants while maintaining their extreme policies of stimulus? Human habituate very easily to new circumstances, even extreme ones. What we accept as “normal” now may have been considered bizarre, extreme or unstable a few short years ago. Three economic examples come to […]
Is the 9-Year Long Dead Cat Bounce Finally Ending?
Is the 9-Year Long Dead Cat Bounce Finally Ending? Ignoring or downplaying these fundamental forces has greatly increased the fragility of the status quo. The term dead cat bounce is market lingo for a “recovery” after markets decline due to fundamental reversals. Markets tend to bounce back after sharp declines as participants (human and digital) […]
Political Correctness Serves the Ruling Elite
Political Correctness Serves the Ruling Elite No wonder the Ruling Elites loves political correctness: all those furiously signaling their virtue are zero threat to the asymmetric plunder of the status quo. The Ruling Elites loves political correctness, for it serves the Elite so well. What is political correctness? Political correctness is the public pressure to […]
The Rowboat (Wages) and the Yacht (Assets)
The Rowboat (Wages) and the Yacht (Assets) As I keep saying: the status quo has divested the working and middle classes. The reason why the status quo has failed and is fragmenting is displayed in these three charts of wages, employment and assets: wage earners (labor) are in a rowboat trying to catch the yacht […]
Rising Social Disorder Is Inevitable: Here’s Why
Rising Social Disorder Is Inevitable: Here’s Why We can do better, and if we don’t, the only possible output of such an unequal system is increasing social disorder. We are in a very peculiar point in history. On the one hand, we’re reassured that all is well because Every One of the World’s Big Economies […]
The Pie Is Shrinking So Much The 99% Are Beginning To Starve
Melissa E Dockstader/Shutterstock The Pie Is Shrinking So Much The 99% Are Beginning To Starve How much longer until the pitchforks come out? Social movements arise to solve problems of inequality, injustice, exploitation and oppression. In other words, they are solutions to society-wide problems plaguing the many but not the few (i.e. the elites at […]
Central Banks: From Coordination to Competition
Central Banks: From Coordination to Competition This is one reason why I anticipate “unexpected” disruptions in the global economy in 2018. The mere mention of “central banks” will likely turn off many readers who understandably have little interest in convoluted policies and arcane mumbo-jumbo, but bear with me for a few paragraphs while I make […]
It’s Time to Retire “Capitalism”
It’s Time to Retire “Capitalism” Our current socio-economic system is nothing but the application of force on the many to enforce the skims, scams and privileges of the self-serving few. I’ve placed the word capitalism in quotation marks to reflect the reality that this word now covers a wide spectrum of economic activities, very little […]
