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Tag Archives: debt
The End Of Our Empire Approaches
The End Of Our Empire Approaches History is clear on where we’re headed Do you have the nagging sense that our empire is in decline? If so, don’t be embarrassed by it. Historically speaking, we’re in very good company. Far larger and longer-lived empires than ours have come and gone over the millennia. This was hit […]
GOP Tax Law Bails Out Fracking Companies Buried in Debt
GOP Tax Law Bails Out Fracking Companies Buried in Debt EOG Resources is one of the top companies in the fracking industry, and thanks to the new tax bill passed by Republicans and President Donald Trump at the end of last year, EOG had an exceptionally strong year compared to 2016. In 2017, the company reported a net income of […]
Canada has NO Gold but a Mountain of Debt… Things Will End Badly
Canada has NO Gold but a Mountain of Debt… Things Will End Badly While other central banks have been busy increasing their gold reserves, Canada sold off all its gold reserves in 2016. The Bank of Canada ranks last globally out of 100 major central banks. There is precedence in a central bank selling off […]
Debt-enabled asset bubbles on crash course with demographics
Debt-enabled asset bubbles on crash course with demographics For anyone who may have been unconscious or in outer space for the last 20 years, here are the Coles Notes: If finance had not been able to ‘securitize’ debts (turn them into assets) and sell them to speculators/investors over the past two decades, then debt creation […]
Book Excerpt: How You Got Screwed
Book Excerpt: How You Got Screwed Chapter 4: How you’re getting screwed by…Retirement Promises The Point: Most people have an expectation that they’ll be taken care of later in life thanks to government programs like Social Security and Medicare, private or public pensions, or through their own efforts to build up their net worth. In […]
There is Over $7.5 Trillion In Debt That’s Highly Vulnerable To Rising Rates – Here’s What To Expect
There is Over $7.5 Trillion In Debt That’s Highly Vulnerable To Rising Rates – Here’s What To Expect The 10-year interest rate hit the critical level of 3% this morning. And this is the highest level it’s been since 2014 – four years ago. . . A couple months back, I highlighted the correlation of […]
Oh Canada! Canadians Starting To Feel The Pain of Debt.
Oh Canada! Canadians Starting To Feel The Pain of Debt. Many Canadians are facing the consequences of spiraling debt. The Bank of Canada has increased its key interest rate three times since last summer, prompting some of Canada’s larger banks to raise their prime lending rates. Forty-seven percent of Canadians are feeling the pinch, indicating they […]
Stop and Assess
Stop and Assess America has become Alzheimer Nation. Nothing is remembered for more than a few minutes. The news media, which used to function as a sort of collective brain, is a memory hole that events are shoved down and extinguished in. An attack in Syria, you ask? What was that about? Facebook stole your…what? […]
The Economy Is Cooked
© Albund | Dreamstime.com The Economy Is Cooked The growth cycle has peaked Hours ago, European Central Bank chief Mario Dragho conceded: “The growth cycle may have peaked” Of course, those paying attention to the data already knew this. Our politicians and central planers have been peddling to us the fantasy that the global economy […]
Nassim Nicholas Taleb Has Never Borrowed a Cent in His Life
Nassim Nicholas Taleb Has Never Borrowed a Cent in His Life The author of The Black Swan and Skin in the Game on what it’s like to have true financial freedom. Redux People ask me my forecast for the economy when they should be asking me what I have in my portfolio. Don’t make pronouncements […]
Congrats! Canadians Just Set A New Record For Borrowing Against Their Homes
Congrats! Canadians Just Set A New Record For Borrowing Against Their Homes Canadian real estate related debt tapering? That would be ridiculous! Filings obtained from the Office of the Superintendent of Financial Institutions (OSFI) show, after a brief decline in January, the balance of loans secured by residential real estate hit a new high in […]
Doug Duncan: Even US Government Economists Predict Trouble Ahead
Doug Duncan: Even US Government Economists Predict Trouble Ahead Fannie Mae forecasts an economic slowdown by 2019 Doug Duncan is not your average beltway economist. The chief economist for Fannie Mae is surprisingly outspoken about the troublesome outlook for the US economy. He’s worried about the rising cost of debt service as outstanding credit continues […]
The Secret of the Great American Fracking Bubble
The Secret of the Great American Fracking Bubble In 2008, Aubrey McClendon was the highest paid Fortune 500 CEO in America, a title he earned taking home $112 million for running Chesapeake Energy. Later dubbed “The Shale King,” he was at the forefront of the oil and gas industry’s next boom, made possible by advances in fracking, which […]
Post Peak Minsky—Debt, Unsustainability, and Inequality
Post Peak Minsky—Debt, Unsustainability, and Inequality It has occurred to me that the fungibility of public debt is not sufficiently recognized—and perhaps of private debt as well. In other words, when our government in the U.S. engages in deficit spending, the focus is generally on who, precisely, is the immediate beneficiary. As Richard Heinberg notes […]
Winter is Coming
WINTER IS COMING “Summer will end soon enough, and childhood as well.” – George R.R. Martin, Game of Thrones “Reflect on what happens when a terrible winter blizzard strikes. You hear the weather warning but probably fail to act on it. The sky darkens. Then the storm hits with full fury, and the air is […]
