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Why We’re Ungovernable, Part 17: In Latin America, Soaring Population + Soaring Debt = “Brutal Justice”
Why We’re Ungovernable, Part 17: In Latin America, Soaring Population + Soaring Debt = “Brutal Justice” There are two ways of looking at the intersection of debt and population. One way says that if debt is rising population should also rise to allow future workers to pay for the retirement of today’s. More people thus […]
Empty Words Are Failing. A Timeline For What Comes Next
Empty Words Are Failing. A Timeline For What Comes Next A quick recap of the past couple of months: Stocks plunge. The politicians, bureaucrats and bankers who depend on artificially-elevated financial asset prices start to panic. The Fed announces that maybe it won’t have to raise interest rates any more, and the president announces a temporary […]
New York City Joins The “Imminent Bankruptcy” Club
New York City Joins The “Imminent Bankruptcy” Club The “public pension crisis” is the kind of subject that’s easy to over-analyze, in part because there are so many different examples of bad behavior out there and in part because the aggregate damage these entities will do when they start blowing up is immense. But most […]
Gold Is Becoming Cool Again
Gold Is Becoming Cool Again The sentiment shift is still subtle, but it’s both real and widespread. After a few years of being ignored and/or dismissed as basically useless, gold is cool again, attracting positive press and increasing accumulation by big investors. India, for instance, imported less gold than usual in the first part of […]
The Fed’s In A Box And People Are Starting To Notice
The Fed’s In A Box And People Are Starting To Notice It’s long been an article of faith in the sound money community that the Fed, by bailing out every dysfunctional financial entity in sight, would eventually be forced to choose between the deflationary collapse of a mountain of bad debt and the inflationary chaos […]
Here’s How “External Dollar Debt” Produces An “Emerging Market Crisis”
Here’s How “External Dollar Debt” Produces An “Emerging Market Crisis” Emerging market currencies are collapsing pretty much everywhere these days. But it’s safe to assume that most people don’t understand exactly what’s causing this outbreak, why it’s happening now, or what “external dollar debt” has to do with it. So here’s a quick primer followed […]
Global Housing Bubble Is Popping. Here Comes The “Reverse Wealth Effect”
Global Housing Bubble Is Popping. Here Comes The “Reverse Wealth Effect” Just a few months ago, real estate was on fire. Prices were blowing past records set during the previous decade’s housing bubble as desperate buyers bought whatever was available at above the asking price while homeowners, confident that prices would keep rising, held out […]
Emerging Market Crisis Spreads To The Core, Central Banks Face Catch-22
Emerging Market Crisis Spreads To The Core, Central Banks Face Catch-22 One of the things giving “data-driven” central banks wiggle room on their pledge to tighten monetary policy is the fact that there are several definitions of inflation. In the US the thing most people think of as inflation is the consumer price index, or […]
Find The Sentence That Dooms Pension Funds (Don’t Worry, It’s Highlighted)
Find The Sentence That Dooms Pension Funds (Don’t Worry, It’s Highlighted) The “pension crisis” is one of those things — like electric cars and nuclear fusion — that’s definitely coming but never seems to actually arrive. However, for pension funds the reason a crisis hasn’t yet happened is also the reason that it will happen, […]
Finally, An Honest Inflation Index – Guess What It Shows
Finally, An Honest Inflation Index – Guess What It Shows Central bankers keep lamenting the fact that record low interest rates and record high currency creation haven’t generated enough inflation (because remember, for these guys inflation is a good thing rather than a dangerous disease). To which the sound money community keeps responding, “You’re looking […]
Suddenly, “De-Dollarization” Is A Thing
Suddenly, “De-Dollarization” Is A Thing For what seems like decades, other countries have been tiptoeing away from their dependence on the US dollar. China, Russia, and India have cut deals in which they agree to accept each others’ currencies for bi-lateral trade while Europe, obviously, designed the euro to be a reserve asset and international […]
Venezuela Has Officially Abandoned The Petrodollar – Does This Make War With Venezuela More Likely?
Venezuela Has Officially Abandoned The Petrodollar – Does This Make War With Venezuela More Likely? Venezuela is the 11th largest oil producing country in the entire world, and it has just announced that it is going to stop using the petrodollar. Most Americans don’t even know what the petrodollar is, but for those of you […]
