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American Farm Debt Reaches 1980s Crisis Levels: Agriculture Secretary
American Farm Debt Reaches 1980s Crisis Levels: Agriculture Secretary Debt among American farmers has increased to $409 billion, Agriculture Secretary Sonny Perdue warned Wednesday. That is up from $385 billion last year and is currently at levels not seen since the agricultural recession (farm crisis) of the 1980s, reported Reuters. “Farm debt has been rising more rapidly over the […]
The U.S. National Debt is Completely Out of Control. Oh Well?
The U.S. National Debt is Completely Out of Control. Oh Well? The U.S. National Debt recently blew past the $22 trillion mark, to the shock and amazement of… Almost no one. Although there remains a minority of individuals who are concerned about the exploding debt level, they are a shrinking minority, as more and more people […]
Weekly Commentary: Dudley on Debt and MMT
Weekly Commentary: Dudley on Debt and MMT December’s market instability and resulting Fed capitulation to the marketplace continue to reverberate. At this point, markets basically assume the Fed is well into the process of terminating policy normalization. Only a couple of months since completing its almost $3.0 TN stimulus program, markets now expect the ECB […]
The Utterly Unbelievable Scale of U.S. Debt Right Now
The Utterly Unbelievable Scale of U.S. Debt Right Now – Last week, the United States national debt ticked above US$22 trillion for the first time, an amount equivalent to $67,000 per U.S. citizen – The U.S. federal government owes more money than any other institution in the history of human civilization and it’s just getting […]
Peter Schiff: “The Real National Emergency Isn’t At The Border. It’s The National Debt!”
Peter Schiff: “The Real National Emergency Isn’t At The Border. It’s The National Debt!” Peter Schiff, the CEO and chief global strategist of Euro Pacific Capital Inc. says that the real national emergency is not at the southern border. The real ticking time bomb is the national debt. We are headed for a train wreck […]
The US Corporate Debt Bomb, Europe’s Recession, and Systemic Risk in China
The US Corporate Debt Bomb, Europe’s Recession, and Systemic Risk in China Yesterday’s note caught a lot of attention. In it, we argued that investing in stocks today based on the Fed getting dovish is like buying stocks after the Bear Stearns deal: you’re buying based on a development that reveals the financial system is in […]
Chapter 3: How Money Works Today: A Summary.
CHAPTER 3: HOW MONEY WORKS TODAY: A SUMMARY. This chapter summarises how money works today. For convenience’s sake, there will be some repetition of material covered elsewhere. Founded on debt rented out at interest, the money system is difficult for most human minds (mine, for instance) to grasp. It is counter-intuitive, so much so that […]
Sustainable Government Debt–An Old Idea Refreshed
SUSTAINABLE GOVERNMENT DEBT – AN OLD IDEA REFRESHED New research from the Peterson Institute suggests bond yields may fall once more Demographic forces and unfunded state liabilities point to an inevitable reckoning The next financial crisis may be assuaged with a mix of fiscal expansion plus QQE Pension fund return expectations for bonds and […]
US National Debt Tops $22 Trillion
US National Debt Tops $22 Trillion For 8 years, we took every opportunity to point out that under Barack Obama’s administration, US debt was rising at a alarmingly rapid rate, having nearly doubled, surging by $9.3 trillion during his term. And while the absolute pace is slower, the trajectory of US debt under the Trump administration looks […]
Debt Trifecta at All-Time Highs – Billionaires Panic
Debt Trifecta at All-Time Highs – Billionaires Panic The “trifecta” of national, corporate, and consumer debt has reached all-time highs, and could prove to be catastrophic if a recession hits. Let’s start by quickly bringing each part of this debt trifecta up to date as much as possible… U.S. National Debt The national debt, ever […]
The Most Depressing Stat Of The Month: The U.S. National Debt Is About To Pass The $22 Trillion Mark
The Most Depressing Stat Of The Month: The U.S. National Debt Is About To Pass The $22 Trillion Mark The U.S. national debt is wildly out of control, and nobody in Washington seems to care. According to the U.S. Treasury, the federal government is currently $21,933,491,166,604.77 in debt. In just a few days, that figure […]
Are Investors Finally Waking up to North America’s Fracked Gas Crisis?
Are Investors Finally Waking up to North America’s Fracked Gas Crisis? The fracked gas industry’s long borrowing binge may finally be hitting a hard reality: paying back investors. Enabled by rising debt, shale companies have been achieving record fracked oil and gas production, while promising investors a big future payoff. But over a decade into the “fracking miracle,” investors […]
New Monetary Theory is Like Sleepwalking
New Monetary Theory is Like Sleepwalking QUESTION: Bernie Sanders was basing his whole economic proposal to just keep spending and make everything free. They seem to be teaching this in school now. This macroeconomic theory whereby a country’s spending is only constrained not by revenue in taxes but by inflation when it creates a sovereign currency. […]
Debts and Deficits are Out of Control
Debts and Deficits are Out of Control Understandably, the problems and politics of the moment dominate the news and attract the attention of most policy commentators and much of the public. Will there be another government shutdown, will House Democrats attempt to impeach the president, will interest rates remain low, and will there be a […]
Chapter 4: Early Days
CHAPTER 4: EARLY DAYS. The situation we are in today has evolved over many centuries. Economists had plenty of time and opportunity to comment – and comment they did. Only recently has it become highly controversial to notice that banks create money, let alone to discuss the implications.[1] This makes the comments of earlier economists particularly […]
