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The Source of Failure: We Optimize What We Measure
The Source of Failure: We Optimize What We Measure Rather than measure consumption and metrics that incentivize debt, what if we measure well-being and opportunities offered in our communities? The problems we face cannot be fixed with policy tweaks and minor reforms.Yet policy tweaks and minor reforms are all we can manage when the pie […]
If Geography and Demographics Are Destiny, Who Will Be the Winners and Losers in 2025?
If Geography and Demographics Are Destiny, Who Will Be the Winners and Losers in 2025? Owning any asset in poorly positioned nations is an inherently risky bet going forward. The dictum “demographics is destiny” proposes that all the complexities of finance, society and politics are ultimately guided by demographics: the relative size of each generation, birth […]
Which Countries Will Be Tomorrow’s Winners & Losers?
Cienpies Design/Shutterstock Which Countries Will Be Tomorrow’s Winners & Losers? Resources, capital flows & demographics will be key The dictum “demographics is destiny” proposes that all the complexities of finance, society and politics are ultimately guided by demographics: the relative size of each generation, birth rates, death rates, etc. For example, an oversized generation of […]
The Destabilizing Consequences of Globalization
The Destabilizing Consequences of Globalization Gordon T. Long and I discuss the failure of the status quo’s “New Normal” in a new 34-minute YouTube program. It is not possible to coherently discuss the “New Normal” economy without discussing financialization–the substitution of credit expansion and speculation for productive investments in the real economy–and its sibling: globalization. Globalization is […]
No Wonder We’re Poorer: Wages’ Share of GDP Has Fallen for 46 Years
No Wonder We’re Poorer: Wages’ Share of GDP Has Fallen for 46 Years The problem is that limiting financialization will implode the system. The majority of American households feel poorer because they are poorer. Real (i.e. adjusted for inflation) median household income has declined for decades, and income gains are concentrated in the top 5%: Even […]
One Chart Says It All
One Chart Says It All People sense the ‘recovery” is bogus, and their rational response is to save more money rather than squander it. Sometimes one chart captures the fundamental reality of the economy: for example, this chart of money velocity and the civilian-population ratio. (thank you, Joseph Y. for posting it on my Facebook feed.) […]
Eight “New Normal” Charts That Are Insanely Abnormal–and Dangerous
Eight “New Normal” Charts That Are Insanely Abnormal–and Dangerous Is there anyone on the planet who’s actually stupid enough to believe these New Normal charts are healthy and sustainable? Anyone questioning the sustainability and rightness of The New Normal is immediately attacked by the mainstream-media defenders of the crumbling status quo. Not only is everything that […]
Why Real Reform Is Now Impossible
Why Real Reform Is Now Impossible The endless bleating of well-paid pundits in the corporate media about “reform” is just more circus. It’s difficult for well-meaning pundits to abandon the fantasy that meaningful reform is possible. Indeed, a critical function of the punditry and corporate media is to foster the fantasy that the status quo could […]
The Status Quo Has Failed and Is Beyond Reform
The Status Quo Has Failed and Is Beyond Reform The truth is the usual menu of reforms can’t stop this failure, so we have to prepare ourselves for the radical transformations ahead. That the status quo–the current pyramid of wealth and power dominated by the few at the top–has failed is self-evident, but we can’t […]
How Systems Break: First They Slow Down
How Systems Break: First They Slow Down Alternatively, we can cling to a state of denial, and the dominant system will be replaced by arrangements that are not necessarily positive. The reality that cannot be spoken is that all the financial systems we believe are permanent are actually on borrowed time. One way we can judge […]
The Lesson of Empires: Once Privilege Limits Social Mobility, Collapse Is Inevitable
The Lesson of Empires: Once Privilege Limits Social Mobility, Collapse Is Inevitable The next few years will strip away the illusions of “growth” and reveal which dominates our society and economy: privilege or social mobility. Among the many lessons of empires is one shared by virtually every empire:once the privileged few limit the rise of […]
The Entire Status Quo Is a Fraud
The Entire Status Quo Is a Fraud Fraud as a way of life caters an extravagant banquet of consequences. This can’t be said politely: the entire status quo in America is a fraud. The financial system is a fraud. The political system is a fraud. National Defense is a fraud. The healthcare system is a […]
The Root of Rising Inequality: Our “Lawnmower” Economy (hint: we’re the lawn)
The Root of Rising Inequality: Our “Lawnmower” Economy (hint: we’re the lawn) This predatory exploitation is only possible if the central bank and state have partnered with financial Elites. After decades of denial, the mainstream has finally conceded that rising income and wealth inequality is a problem–not just economically, but politically, for as we all […]
The Panama Papers: This Is the Consequence of Centralized Money and Power
The Panama Papers: This Is the Consequence of Centralized Money and Power Technologies such as the blockchain are enabling alternative ways of creating and distributing money outside central banks and states. If we don’t change the way money is created and distributed, we will never change anything. This is the core message of my book A Radically […]
Triffin’s Paradox Revisited: Crunch-Time for the U.S. Dollar and the Global Economy
Triffin’s Paradox Revisited: Crunch-Time for the U.S. Dollar and the Global Economy The reality is that we’re one panic away from foreign-exchange markets ripping free of central bank manipulation. While all eyes on fixated on global stock markets as the measure of “prosperity” and “growth” (or is it hubris?), the larger force at work beneath […]
