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The True Size Of The U.S. National Debt, Including Unfunded Liabilities, Is 222 Trillion Dollars
The True Size Of The U.S. National Debt, Including Unfunded Liabilities, Is 222 Trillion Dollars The United States is on a path to financial ruin, and everyone can see what is happening, but nobody can seem to come up with a way to stop it. According to the U.S. Treasury, the federal government is currently 22 […]
If Donald Trump is the King of Debt, these guys were the Kings of Inflation
If Donald Trump is the King of Debt, these guys were the Kings of Inflation Maximilian Bern had saved up 100,000 German marks for what should have been a modest, but comfortable retirement. But in 1923, he withdrew every last cent, and spent it all on one purchase: a subway ticket. He rode around his […]
The Most Important Chart in Economics?
The Most Important Chart in Economics? Earlier this month, the U.S. Federal Reserve quietly released the Financial Accounts of the United States. Like most government data, the 198-page report (known to insiders as the Z1) is almost impossible to understand. However, to the economists and accountants who wade their way through the mess, the implications are […]
Over $10 Trillion In Debt Now Has A Negative Yield
Over $10 Trillion In Debt Now Has A Negative Yield NIRP is back. On Friday, when Germany reported disastrous mfg and service PMI prints, the 10Y German Bund finally threw in the towel, with the yield sliding back under zero for the first time in three years. When that happened, and when the 3M-10Y yield […]
A Different View of Venezuela’s Energy Problems
A Different View of Venezuela’s Energy Problems It would be easy to write a story about Venezuela’s energy problems and, in it, focus on the corruption and mismanagement that have taken place. This would make it look like Venezuela’s problems were different from everyone else’s. Taking this approach, it would be easy to argue that the […]
The Coming Wave Of High-Tech Authoritarianism
The Coming Wave Of High-Tech Authoritarianism One of history’s hard lessons is that collapsing financial systems beget authoritarian politics. Today’s world, alas, is following this script, as rising debts lead to wrenching political changes in nearly every country that holds free elections, while fascism and socialism are once again being taken seriously by people who […]
Debt, Death, and the US Empire
Debt, Death, and the US Empire In a talk which garnered little attention, one of the Deep State’s prime operatives, National Security Advisor John Bolton, cautioned of the enormous and escalating US debt. Speaking before the Alexander Hamilton Society, Bolton warned that current US debt levels and public obligations posed an “economic threat” to the nation’s […]
The Global Economy Is a Time Bomb Waiting to Explode
The Global Economy Is a Time Bomb Waiting to Explode In the aftermath of the greatest financial calamity since the Great Depression, then–chief of staff for the Obama administration Rahm Emanuel made the call for aggressive action to prevent a recurrence of the meltdown of 2008. Although the U.S. government’s system of checks and balances […]
China Scrambles To Defuse $6 Trillion “Hidden Debt Bomb” With “Titanic Credit Risk”
China Scrambles To Defuse $6 Trillion “Hidden Debt Bomb” With “Titanic Credit Risk” When it comes to estimating China’s total outstanding debt, there has long been confusion about the real number with most putting the debt/GDP at around 250%, while the IIF in 2017 calculated China’s debt load as high as 300% of GDP (which […]
Weekly Commentary: Q4 2018 Z.1 “Flow of Funds”
Weekly Commentary: Q4 2018 Z.1 “Flow of Funds” I’ve been anxiously awaiting the Fed’s Q4 2018 Z.1 “Flow of Funds” report. It provided the first comprehensive look at how this period’s market instability affected various sectors within the financial system. From ballooning Broker/Dealer balance sheets to surging “repo” lending to record Bank loan growth – […]
As The Economy Teeters On The Brink Of A Recession, U.S. Debt Levels Are Absolutely Exploding
As The Economy Teeters On The Brink Of A Recession, U.S. Debt Levels Are Absolutely Exploding We now have official confirmation that the U.S. economy has dramatically slowed down. In recent days I have shared a whole bunch of numbers with my readers that clearly demonstrate that a new economic downturn has begun. And even though stock […]
Peter Schiff: We’re not Borrowing Ourselves Rich; We’re Borrowing Ourselves Broke
Peter Schiff: We’re not Borrowing Ourselves Rich; We’re Borrowing Ourselves Broke Peter Schiff has been saying that despite the recent stock market rally and all of the optimism about an end to the trade war, a recession is a done deal. There is plenty of economic data to back up despite the recent economic growth. In his […]
Chapter 5: Bubbles and Adam Smith
CHAPTER 5: BUBBLES AND ADAM SMITH. This chapter explores how laws enabling debt to be bought and sold transformed Britain. Suddenly, vast quantities of money and value were being created out of nothing. The effect was dramatic and widely commented on. Some people thoroughly approved, while others saw a new kind of tyranny taking over […]
