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Olduvai III: Catacylsm
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There’s No Upside Left

There’s No Upside Left The upside is ephemeral, illusory or wishful thinking; the downside is real and lasting. There’s no upside left–not just in the real economy, but in jobs, politics or policy tweaks. Yes, there will be huge relief rallies in the stock market–relief that the Fed is still omnipotent, that the Fed didn’t destroy […]

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How to Survive a Terrorist Attack

How to Survive a Terrorist Attack When horrible events happen, people want to know why. Why was a random group of people targeted to have their innocent day destroyed by violence and terror? Why did the culprit choose that group of victims, that day on the calendar, that specific location? And who? Who was the mastermind behind the […]

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Chapter 5: Economists and the Banking System, Part 2: Adam Smith, Some Early Americans, and Friedrich List

Chapter 5: Economists and the Banking System, Part 2: Adam Smith, Some Early Americans, and Friedrich List This chapter is about economics in transition. Economics means literally ‘housekeeping’ and most early writers on economics (roughly speaking before Adam Smith, 1723-90) treated it that way. They worried about a nation’s solvency, whether fairness generally prevailed in […]

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Why Did Oil Prices Just Jump By 27 Percent In 3 Days?

Why Did Oil Prices Just Jump By 27 Percent In 3 Days? Oil prices have posted their strongest rally in years, jumping an astounding 27 percent in the last three trading days of August. While much of the recent price movement defies reason and is enormously magnified by speculativemovements by traders to take and cover their […]

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Escaping the Deadly Financial Rip-Tide of Debt and Speculation

Escaping the Deadly Financial Rip-Tide of Debt and Speculation Only those know to swim parallel to the shore can escape the destructive rip-tide of debt and speculative risk pulling everyone to insecurity and impoverishment. Longtime correspondent Kevin K. recently shared an extremely insightful analogy of our financial peril. Those of you who swim or body-surf in […]

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Money Printing And The Bane Of Financial Engineering—–How The Biggest LBO In History Blew-Up

Money Printing And The Bane Of Financial Engineering—–How The Biggest LBO In History Blew-Up Financial engineering is one of the worst ills perpetuated by the Fed’s regime of cheap debt and money market subsidies for speculation. And these deformations are turbo-charged by the tax code which creates a powerful bias toward loading capital structures with […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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