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Germany Accuses Italy of “Debt Blackmail”: Hello EU, Time for Reform Expired
Germany Accuses Italy of “Debt Blackmail”: Hello EU, Time for Reform Expired For 10 years, the EU and EMU promised reform. None was delivered. Time is Up. Populists have taken control of Italy. Merkel’s CDU/CSU coalition is in a state of panic regarding Italy. The German parties went on the attack accusing Italy of “debt […]
Where the Debt Slaves Are the Most Vulnerable
Where the Debt Slaves Are the Most Vulnerable I’m shedding a different light on consumer debt. This type of chart is trotted out constantly these days to show that American households are in fabulous shape when it comes to their ability to service their blistering record debts. The red line in the chart shows household […]
Italy’s Countdown to Fiscal Crisis
Italy’s Countdown to Fiscal Crisis Italy’s current scheme of piling unfunded government spending on top of an already-huge debt is a recipe for disaster. As a general rule, we worry too much about deficits and debt. Yes, red ink matters, but we should pay more attention to variables such as the overall burden of government spending and the […]
The Next Recession Will Be Devastatingly Non-Linear
The Next Recession Will Be Devastatingly Non-Linear The acceleration of non-linear consequences will surprise the brainwashed, loving-their-servitude mainstream media. Linear correlations are intuitive: if GDP declines 2% in the next recession, and employment declines 2%, we get it: the scale and size of the decline aligns. In a linear correlation, we’d expect sales to drop […]
77 Million Square Feet Of Retail Space And Counting – America’s Retail Apocalypse Is Spiraling Out Of Control In 2018
77 Million Square Feet Of Retail Space And Counting – America’s Retail Apocalypse Is Spiraling Out Of Control In 2018 In 2017 we absolutely shattered the all-time record for retail store closings in a single year, and this year it looks like we are going to shatter the record once again. In fact, there are […]
Lie-Bor: Pitchforkers Rejoice
Lie-Bor: Pitchforkers Rejoice There’s a bit of a hullabaloo going on at the moment about LIBOR. And in truth, it is a pretty big deal. Yes, even bigger than whether or not Stormy Daniels got jiggetty with an old guy wearing a wig. And get this… even bigger than Kanye’s man-love for the same guy. What […]
Learning from America’s Forgotten Default
Bettmann/Getty Images Learning from America’s Forgotten Default One of the most pervasive myths about the United States is that the federal government has never defaulted on its debts. There’s just one problem: it’s not true, and while few people remember the “gold clause cases” of the 1930s, that episode holds valuable lessons for leaders today. […]
The U.S. is Shackled by Historic Debt
The U.S. is Shackled by Historic Debt Do you feel as if you’re drowning in debt? It’s worse than you think. The U.S. government reached a new milestone when our country’s debt topped $21 trillion for the first time. The national debt grows by an average of $17,000 every second – more than some people […]
Train Crash Preview
Train Crash Preview Today we will summarize something I’ve been thinking about for a long time. Exactly how will we get from the credit crisis, which I think is coming in the next 12–18 months, to what I call the Great Reset, when the global debt will be “rationalized” via some form of nonpayment. Whatever […]
Debt Deflation Italian Style
Debt Deflation Italian Style New York – This week The IRA will be at the MBA Secondary Market Conference & Expo, as always held at the Marriott Marquis in Times Square. The 8th floor reception and bar is where folks generally hang out. Attendees should not miss the panel on mortgage servicing rights at 3:00 […]
Canada’s Debt Spiral
Canada’s Debt Spiral Living beyond our means requires us to borrow money to cover the difference between our income and our spending. Many Canadians now understand the financial consequences of this practice and regret the choices they’ve made. Unfortunately, Prime Minister Trudeau is not one of them, as evidenced by his government’s budget deficits which […]
THE SHALE OIL PONZI SCHEME EXPLAINED: How Lousy Shale Economics Will Pull Down The U.S. Economy
THE SHALE OIL PONZI SCHEME EXPLAINED: How Lousy Shale Economics Will Pull Down The U.S. Economy Few Americans realize that the U.S. economy is being propped up by the Shale Oil Industry. However, the shale oil industry is nothing more than a Ponzi Scheme, so when it collapses, it will take down the U.S. economy […]
Emerging Market Debt Defaults on the Horizon?
Emerging Market Debt Defaults on the Horizon? QUESTION: Mr. Armstrong; You said that the emerging markets are a huge problem that will lead to a Sovereign Debt Default. Can you elaborate on that statement? Thank you for your insight VU ANSWER: The emerging markets are in far worse shape today than they were even back in 2008. […]
What If We Just Wiped Out All Debt?
What If We Just Wiped Out All Debt? QUESTION: Hello Marty I am hoping you will print this in your blog. Everyone knows that Govt’s/Banks print money out of thin air and then “owe interest” to this invented money. To avoid an interest payment death spiral why can’t all the Govt’s in the world just […]
How People Turn into “Debt Slaves?”
How People Turn into “Debt Slaves?” Wolf Richter with Jim Goddard on This Week in Money: The Price of Easy Money, Low Interest Rates, and Debt Bubbles: After the party, the hangover. Read… The State of the American Debt Slaves, Q1 2018.
