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Tag Archives: of two minds
Checking In on the Four Intersecting Cycles
Checking In on the Four Intersecting Cycles If you think this is a robust, resilient, stable system, please check your Ibogaine / Hopium / Delusionol intake. Correspondent James D. recently asked for an update on the four intersecting cycles I’ve been writing about for the past 10 years. Here’s the chart I prepared back in 2008 […]
There is No “Free Trade”–There Is Only the Darwinian Game of Trade
There is No “Free Trade”–There Is Only the Darwinian Game of Trade Rising income and wealth inequality is causally linked to globalization and the expansion of Darwinian trade and capital flows. Stripped of lofty-sounding abstractions such as comparative advantage, trade boils down to four Darwinian goals: 1. Find foreign markets to absorb excess production, i.e. […]
Forget “Free Trade”–It’s All About Capital Flows
Forget “Free Trade”–It’s All About Capital Flows In a world dominated by mobile capital, mobile capital is the comparative advantage. Defenders and critics of “free trade” and globalization tend to present the issue as either/or: it’s inherently good or bad. In the real world, it’s not that simple. The confusion starts with defining free trade […]
Should Facebook, Google and Twitter Be Public Utilities?
Should Facebook, Google and Twitter Be Public Utilities? This opaque corporate censorship amounts to a private-sector Stasi, pursuing an Orwellian world of profits reaped from the censorship and suppression of dissent My longtime friend GFB recently suggested I revisit my position on RussiaGate, the investigation into Russian interference in the 2016 US election. I have […]
Never Mind Volatility: Systemic Risk Is Rising
Never Mind Volatility: Systemic Risk Is Rising So who’s holding the hot potato of systemic risk now? Everyone. One of the greatest con jobs of the past 9 years is the status quo’s equivalence of risk and volatility: risk = volatility: so if volatility is low, then risk is low. Wrong: volatility once reflected specific […]
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 […]
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 […]
