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Olduvai III: Catacylsm
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China’s Minsky Moment

CHINA’S MINSKY MOMENT Sometimes you have to love the naivety of the markets. At this week’s Communist Party Congress meeting in Beijing, the governor of the PBoC (People’s Bank of China) said the following; “If we are too optimistic when things go smoothly, tensions build up, which could lead to a sharp correction, what we […]

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The Return Of The “Minsky Moment”

The Return Of The “Minsky Moment” “The emergence of money manager capitalism means that the financing of the capital development of the economy has taken a back seat to the quest for short-run total returns.” – Circa 1992. Wall Street has forgotten the great financial crisis. A sense of relief has settled firmly on the legendary […]

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Even The Average Joe Gets It: “They’re Winding Us All Up For A Minsky Moment”

Even The Average Joe Gets It: “They’re Winding Us All Up For A Minsky Moment” With global central bank policy in disarray following the Fed’s now admitted “policy error” of tightening just as the US and global economy are heading for recession, while the rest of the world desperate to cut to ever more negative […]

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The Paris Gravity Well, Part II: Trillionization

The Paris Gravity Well, Part II: Trillionization “We will not suddenly convert steel mills, cement kilns and road surfacing machines to operate on sunbeams.” Charlie said, “That’s the trouble. You see it the way the banking industry sees it and they make money by manipulating money irrespective of effects in the real world. You’ve spent […]

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Oil and Real Estate Bubbles in Canada: What Goes up Won’t so Smoothly Come Down

Oil and Real Estate Bubbles in Canada: What Goes up Won’t so Smoothly Come Down Five years ago, I noted how unsustainable Canadian economic growth is fuelled by debt, which is leveraged to increase the prices–and ‘profitability’–of assets like oil holdings and real estate. It might as well be called “phantom growth,” because it’s bound to disappear […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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