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Because We’re Still Not Sufficiently Indebted…
Because We’re Still Not Sufficiently Indebted… Now the government wants your home equity Zero Hedge just posted a long look at how the “buy now, pay later” (BNPL) industry now accounts for about $700 billion of largely unreported “phantom debt”. This, speculates ZH, is why the economy hasn’t fallen into recession. Now come the unintended consequences: […]
Record Household Debt, Jump In Delinquencies Signal “Worsening Financial Distress”, Fed Warns
Record Household Debt, Jump In Delinquencies Signal “Worsening Financial Distress”, Fed Warns While the market remains focused on tomorrow’s CPI print, and to a lesser extent the April retail sales reports, which will both be released at 8:30am on May 15. we should flag another important report that doesn’t typically get a lot of attention: […]
How Powell Destroyed His Inflation War as he Eats the Poor
How Powell Destroyed His Inflation War as he Eats the Poor I’m going to save discussion of today’s CPI report for my Deeper Dive this weekend because it requires digging deep into the numbers involved in the report to show why it is not the game-changer for the new trend in inflation that the stock market made […]
How Powell Destroyed His Inflation War as he Eats the Poor
How Powell Destroyed His Inflation War as he Eats the Poor I’m going to save discussion of today’s CPI report for my Deeper Dive this weekend because it requires digging deep into the numbers involved in the report to show why it is not the game-changer for the new trend in inflation that the stock market made […]
This Is the Proverbial Ball You Should Be Keeping Your Eye On…
This Is the Proverbial Ball You Should Be Keeping Your Eye On… Gold, the Brief History of U.S. Debt, Not a Great Club, and the U.S.’ Debt-to-GDP Surpassing Venezuela’s “Blessed are the young, for they shall inherit the national debt.” ~ Herbert Hoover If you’re like me, you probably sometimes come across an important economic […]
You Need 2 Years of Food – Martin Armstrong
You Need 2 Years of Food – Martin Armstrong Legendary financial and geopolitical cycle analyst Martin Armstrong has new data on how well the Biden economy is doing. Spoiler alert: It’s not doing well, and the financial system is about to tank. I asked Armstrong if the US government could default on its debt if […]
David Stockman on the $1.3 Trillion Elephant In The Room
David Stockman on the $1.3 Trillion Elephant In The Room These people have to be stopped! We are talking about the nation’s unhinged monetary politburo domiciled in the Eccles Building, of course. It is bad enough that their relentless inflation of financial assets has showered the 1% with untold trillions of windfall gains, but their […]
Recession Watch: Why isn’t “inevitable” becoming “imminent”?
Recession Watch: Why isn’t “inevitable” becoming “imminent”? Because “fiscal dominance”… So that recession I keep whining about still hasn’t arrived. What’s going on out there to keep “inevitable” from becoming “imminent”? It might be as simple as a government borrowing insane amounts of money and giving it to arms makers, banks, and AI companies. This […]
Financial turmoil in Canada – and what it means for the rest of the world
Financial turmoil in Canada – and what it means for the rest of the world Max Bernier, leader of the People’s Party of Canada, says the new federal budget will send the country deeper into debt than it already is. Our latest episode of the Collapse Life podcast features a returning guest — Maxime Bernier, […]
Give Me Liberty or Give Me Debt
Give Me Liberty or Give Me Debt Some people are more observant than others. Some are more capable of thinking outside the box than others. Whether this is by nature or nurture is a moot point. When we are children, we tend to look upon the world in all its wonder. We are amazed at […]
IMF Warns Biden’s Fiscal Profligacy Poses “Significant Risks” To Global Economy ‘In Great Election Year’
IMF Warns Biden’s Fiscal Profligacy Poses “Significant Risks” To Global Economy ‘In Great Election Year’ The IMF said the the quiet part out loud today (admittedly wrapped in 100s of pages of PhD-ese) in their benchmark Fiscal Monitor this morning: pointing out that America’s recent economic performance is partially the result of the country’s unsustainable borrowing, and […]
David Stockman on How the US Federal Debt Has Gone Parabolic…
David Stockman on How the US Federal Debt Has Gone Parabolic… The federal debt has been recently increasing by $1 trillion every 100 days. That’s $10 billion per day, $416 million per hour. In fact, Uncle Sam’s debt has risen by $470 billion in the first two months of this year to $34.5 trillion and […]
A Million Simulations, One Verdict for US Economy: Debt Danger Ahead
A Million Simulations, One Verdict for US Economy: Debt Danger Ahead Bloomberg Economics ran a million forecast simulations on the US debt outlook. 88% of them show borrowing on an unsustainable path. The Congressional Budget Office warned in its latest projections that US federal government debt is on a path from 97% of GDP last […]
America’s Minsky Moment Approaches
America’s Minsky Moment Approaches Commentary Named after American economist Hyman Minsky, the idea behind a Minsky moment is that a financial markets crisis (especially in credit markets) is caused by a sudden and systemic collapse in asset prices, usually after a sustained period of speculative investment, excessive borrowing, and widespread financial risk taking. In other […]
David Stockman on How the US Federal Debt Has Gone Parabolic…
David Stockman on How the US Federal Debt Has Gone Parabolic… The federal debt has been recently increasing by $1 trillion every 100 days. That’s $10 billion per day, $416 million per hour. In fact, Uncle Sam’s debt has risen by $470 billion in the first two months of this year to $34.5 trillion and […]
