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The State of the Union: An Annual Reminder of Inevitable Default
The State of the Union: An Annual Reminder of Inevitable Default Last night’s State of the Union was particularly noteworthy for its showmanship. Scholarships were given away, medals were awarded, families reunited. At a time when national politics is bad theater, President Trump is clearly its most gifted star. Trump also knows what sells. As […]
Why Germany Is Going To War With Gold
Why Germany Is Going To War With Gold Owning gold is a way to get out of this “debt trap”, but governments don’t want you to own gold, especially in Germany Germans, like Indians and Chinese, love their gold – although their reasons for buying and keeping bullion are somewhat different. In China and India, […]
The Corporate Debt Bubble Is A Train Wreck In Slow Motion
The Corporate Debt Bubble Is A Train Wreck In Slow Motion There are two subjects that the mainstream media seems specifically determined to avoid discussing these days when it comes to the economy – the first is the problem of falling global demand for goods and services; they absolutely refuse to acknowledge the fact that […]
Hubris
Hubris One day this bull market will end and the age of the central banking enabled debt bubble will be exposed for the hubris that it is and all the sins of “potential side effects” that central bankers warn about but never do anything about will come back to haunt all of us. It’ll be […]
Are Consumers Nearing the End of Their Road of Debt?
Are Consumers Nearing the End of Their Road of Debt? Are consumers getting close to the end of their road of debt? There are some indications that they might be and that’s not good news for an economy built on consumers spending money they don’t have. Total consumer debt grew and set yet another new […]
China’s Growing Economic Miracle…(Collapse). Or… Everyone Pays the Piper!
China’s Growing Economic Miracle…(Collapse). Or… Everyone Pays the Piper! In emulating the American economic raison d’etre, China has attempted to develop its unique capitalist model while ignoring that it too will soon suffer the same fate for the same reason: Unsustainable debt. When examining the recent realities of Chinese banking and finance over the past year it […]
2020 Will Be A Crucial Year For Oil
2020 Will Be A Crucial Year For Oil It’s the start of a new year and a new decade, and the oil market is as unpredictable as ever. Will OPEC+ extend its cuts? Will U.S. shale finally grind to a halt? Is this the “year of the electric vehicle”? Here are 10 stories to watch […]
Prelude to Crisis
Prelude to Crisis Simple ConceitRadical ActionsBallooning Balance SheetMerry Christmas and the Happiest New Year Ignoring problems rarely solves them. You need to deal with them—not just the effects, but the underlying causes, or else they usually get worse. The older you get, the more you know that is true in almost every area of life. […]
Jim Rickards Warns that Tsunami of Debt Could Upend the Economy
Jim Rickards Warns that Tsunami of Debt Could Upend the Economy At some point, an economic problem deepens so much that the piper has to be paid. Both in the U.S. and globally, one of those problems appears to be mountains of debt. Jim Rickards recently issued a dire proclamation about the global debt situation: Current global debt levels are simply […]
Shattering the Overton Window
Shattering the Overton Window Aim your rocks at glass houses. The Overton window is the range of policies politically acceptable to the mainstream population at a given time.[1] It is also known as the window of discourse. The term is named after Joseph P. Overton, who stated that an idea’s political viability depends mainly on whether […]
Negative Rates, The Destruction Of Money. Sweden Ends Its Experiment.
Negative Rates, The Destruction Of Money. Sweden Ends Its Experiment. Negative rates are the destruction of money, an economic aberration based on the mistakes of many central banks and some of their economists who start from a wrong diagnosis: the idea that economic agents do not take more credit or invest more because they choose to save […]
World Bank Warns “Wave Of Debt” Could Unleash Historic Crisis, Crush The Global Economy
World Bank Warns “Wave Of Debt” Could Unleash Historic Crisis, Crush The Global Economy Something happens to the world’s “really smart people” when the topic of debt is discussed: they become blabbering idiots. Consider that last month we reported that according to the Institute of International Finance, global debt has now hit $250 trillion and is expected […]
Rickards: World on Knife Edge of Debt Crisis
Rickards: World on Knife Edge of Debt Crisis Herbert Stein, a prominent economist and adviser to presidents Richard Nixon and Gerald Ford, once remarked, “If something cannot go on forever, it will stop.” The fact that his remark is obvious makes it no less profound. Simple denial or wishful thinking tends to dominate economic debate. […]
The State of the Canadian Debt Slaves, How They Compare to American Debt Slaves, and the Bank of Canada’s Response
The State of the Canadian Debt Slaves, How They Compare to American Debt Slaves, and the Bank of Canada’s Response “The high household debt load is the most important risk facing the financial system”: Bank of Canada Governor Poloz, another central banker that bemoans the effects of this handiwork. Canadian households, rated near the top […]
Is the Corporate-Debt Bubble Ripe Yet?
Is the Corporate-Debt Bubble Ripe Yet? What does it mean when the Fed and other central banks jointly bemoan the effects of their own policies? Worried about not being able to keep all the plates spinning? This is the transcript from my podcast last Sunday, THE WOLF STREET REPORT: The Federal Reserve, the ECB, the individual […]
