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Tag Archives: debt
Unfunded Promises
Unfunded Promises In describing the global debt train wreck these last few weeks, I’ve discovered a common problem. Many of us define “debt” way too narrowly. A debt occurs when you receive something now in exchange for a promise to give something back later. It doesn’t have to be cash. If you borrow your neighbor’s […]
Civil Unrest = Hoarding of Assets
Civil Unrest = Hoarding of Assets QUESTION: Mr. Armstrong; You pick themes that are not really just political on the surface, but beneath you are connecting the dots economically. This is what I read between the lines for you do not always emphasize it in every post why you will address issues like migration and […]
Trade War Provides Perfect Cover For The Elitist Engineered Global Reset
Trade War Provides Perfect Cover For The Elitist Engineered Global Reset Over the past several months, I have been examining the underlying or hidden motivations behind the currently expanding global trade war, including the impressive level of cognitive dissonance surrounding the issue. The political left doesn’t seem to have an intelligent grasp of economic issues […]
A world for the many, not the few
A world for the many, not the few “The very notion of ‘charity’ erases a global history of slavery and oppression”. Asad Rehman applauds Labour’s ambition to overhaul neo-colonial development policy Illustration by Andrzej Krauze In 1792, pioneering British feminist and social justice activist Mary Wollstonecroft wrote in her seminal book The Rights of Women, ‘It is […]
BIS Confirms Banks Use “Lehman-Style Trick” To Disguise Debt, Engage In “Window Dressing”
BIS Confirms Banks Use “Lehman-Style Trick” To Disguise Debt, Engage In “Window Dressing” Several years ago we showed how the Fed’s then-new Reverse Repo operation had quickly transformed into nothing more than a quarter-end “window dressing” operation for major banks, seeking to make their balance sheets appear healthier and more stable for regulatory purposes. As […]
Merger Mania and the Kings of Debt
Merger Mania and the Kings of Debt Another Early Warning Siren Goes Off Our friend Jonathan Tepper of research house Variant Perception (check out their blog to see some of their excellent work) recently pointed out to us that the volume of mergers and acquisitions has increased rather noticeably lately. Some color on this was […]
Greece Economic Crisis Declared Over: It Isn’t
Greece Economic Crisis Declared Over: It Isn’t Mainstream media is all aglow over the alleged end of the Greek economic crisis. Mainstream media is wrong. RTE says Greece Crisis Declared ‘Over’ as Eurozone Agrees on Debt Relief The BBC says Greece Hails ‘Historic’ Debt Relief Deal The Financial Times says EU Commissioner Calls End to […]
A New Global Debt Crisis Has Begun
A New Global Debt Crisis Has Begun Emerging-market debt crises are as predictable as spring rain. They happen every 15–20 years, with a few variations and exceptions. In recent decades, the first crisis in this series was the Latin American debt crisis of 1982–85. The combination of inflation and a commodity price boom in the […]
Confronting the money-power elite
Confronting the money-power elite Those who control the creation and allocation of money are able to control every other aspect of society. Shouldn’t that be us? Credit: Flickr/Liz West. CC BY 2.0. The world today is controlled by a small elite group that has been increasingly concentrating power and wealth in their own hands. There […]
Italy and the Repricing of European Government Debt
ITALY AND THE REPRICING OF EUROPEAN GOVERNMENT DEBT The yield spread between 10yr BTPs and Bunds widened 114bp in May Populist and anti-EU politics were the catalyst for this repricing of risk Spain, Portugal and Greece all saw yields increase as Bund yields declined The ECB policy of OMT should help to avoid a repeat […]
How To Best Prepare Yourself For The Coming Financial Crisis
How To Best Prepare Yourself For The Coming Financial Crisis Many financial analysts believe the United States economy is in a dire situation. Peter Schiff, who accurately predicted the 2008 recession has come out and declared we will all live through another Great Depression, only this time, it’ll be much worse than before. But there […]
America’s Greatest Crisis Upon Us…Debt to GDP Makes It Clear
America’s Greatest Crisis Upon Us…Debt to GDP Makes It Clear America in the midst of its greatest crisis in its 242 years of existence. I say this based upon the US federal debt to GDP (gross domestic product) ratio. In the history of the US, at the onset of every war or crisis, a period of federal […]
Do We Really Borrow From Only Ourselves? Does the Debt/GDP Ratio Means Anything?
Do We Really Borrow From Only Ourselves? Does the Debt/GDP Ratio Means Anything? QUESTION: Mr. Armstrong, the famous economist Paul Krugman says that debt is ok when we owe it to ourselves. He calls it “deficit scolding” as he wrote in the New York Times. Would you like to comment on this statement? GH ANSWER: Paul […]
A Hard Rain’s a-Gonna Fall
A Hard Rain’s a-Gonna Fall The prospects for the rest of the year are awful Après moi, le déluge ~ King Louis XV of France A hard rain’s a-gonna fall ~ Bob Dylan (the first) As the Federal Reserve kicked off its second round of quantitative easing in the aftermath of the Great Financial Crisis, hedge fund […]
The Volcano of Debt
The Volcano of Debt Just as gravity propels the lava from Kilauea inexorably toward the sea, a mountain of public and private debt looms over today’s markets. Earlier this week, the Boards of Trustees for both U.S. Social Security and Medicare released their latest updates on the “solvency” of the programs. The advisories can be […]
