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Elite Terrified of 1930’s Depression or Weimar Hyperinflation – John Rubino
Elite Terrified of 1930’s Depression or Weimar Hyperinflation – John Rubino Financial writer John Rubino says everywhere you look, debt is exponentially mounting. Nothing demonstrates the “imminent bankruptcy” problem better than the financial obligations of New York City. Rubino says, “They just announced that they have unfunded liabilities for retiree healthcare, just retiree healthcare and […]
New York City Joins The “Imminent Bankruptcy” Club
New York City Joins The “Imminent Bankruptcy” Club The “public pension crisis” is the kind of subject that’s easy to over-analyze, in part because there are so many different examples of bad behavior out there and in part because the aggregate damage these entities will do when they start blowing up is immense. But most […]
Here Comes The Housing Bust “Reverse Wealth Effect,” Australia Edition
Here Comes The Housing Bust “Reverse Wealth Effect,” Australia Edition For the past few years, homeowners just about everywhere have been able to finesse life’s problems by thinking “at least my house is going up.” This home equity accretion allowed them to buy stuff on credit, safe in the knowledge that even as they maxed […]
Gold Is Becoming Cool Again
Gold Is Becoming Cool Again The sentiment shift is still subtle, but it’s both real and widespread. After a few years of being ignored and/or dismissed as basically useless, gold is cool again, attracting positive press and increasing accumulation by big investors. India, for instance, imported less gold than usual in the first part of […]
Rising Interest Rates Start Popping Bubbles — The End Of This Expansion Is Now In Sight
Rising Interest Rates Start Popping Bubbles — The End Of This Expansion Is Now In Sight Towards the end of economic expansions, interest rates usually start to rise as strong loan demand bumps up against central bank tightening. At first the effect on the broader economy is minimal, so consumers, companies and governments don’t let […]
The Fed’s In A Box And People Are Starting To Notice
The Fed’s In A Box And People Are Starting To Notice It’s long been an article of faith in the sound money community that the Fed, by bailing out every dysfunctional financial entity in sight, would eventually be forced to choose between the deflationary collapse of a mountain of bad debt and the inflationary chaos […]
From Buenos Aires To Nashville: The Emerging Market Crisis Spreads From Periphery To Core
From Buenos Aires To Nashville: The Emerging Market Crisis Spreads From Periphery To Core This is the last emerging market crisis story for a while, promise. But one angle – exactly how a plunging currency in a far-off place affects supposedly stable markets like the US – is worth exploring because it’s happening right this […]
Even Mortgage Lenders Are Repeating Their 2006 Mistakes
Even Mortgage Lenders Are Repeating Their 2006 Mistakes You’d think the previous decade’s housing bust would still be fresh in the minds of mortgage lenders, if no one else. But apparently not. One of the drivers of that bubble was the emergence of private label mortgage “originators” who, as the name implies, simply created mortgages […]
Is Tunisia the next emerging market to implode?
Is Tunisia the next emerging market to implode? Seems like every few days a new developing country discovers that it can’t pay back the dollars and/or euros it borrowed back when “external foreign currency debt” seemed like a good thing. Next up: Tunisia, apparently. From today’s Wall Street Journal: Nation That Sparked Arab Spring Finds […]
Here’s How “External Dollar Debt” Produces An “Emerging Market Crisis”
Here’s How “External Dollar Debt” Produces An “Emerging Market Crisis” Emerging market currencies are collapsing pretty much everywhere these days. But it’s safe to assume that most people don’t understand exactly what’s causing this outbreak, why it’s happening now, or what “external dollar debt” has to do with it. So here’s a quick primer followed […]
Another Way Of Looking At The Pension Crisis, As “A Stealth Mortgage on Your House”
Another Way Of Looking At The Pension Crisis, As “A Stealth Mortgage on Your House” Money manager Rob Arnott and finance professor Lisa Meulbroek have run the numbers on underfunded pension plans and come up with an interesting – and highly concerning – new angle: That they impose a “stealth mortgage” on homeowners. Here’s how […]
Global Housing Bubble Is Popping. Here Comes The “Reverse Wealth Effect”
Global Housing Bubble Is Popping. Here Comes The “Reverse Wealth Effect” Just a few months ago, real estate was on fire. Prices were blowing past records set during the previous decade’s housing bubble as desperate buyers bought whatever was available at above the asking price while homeowners, confident that prices would keep rising, held out […]
Emerging Market Crisis Spreads To The Core, Central Banks Face Catch-22
Emerging Market Crisis Spreads To The Core, Central Banks Face Catch-22 One of the things giving “data-driven” central banks wiggle room on their pledge to tighten monetary policy is the fact that there are several definitions of inflation. In the US the thing most people think of as inflation is the consumer price index, or […]
A Bull Market For The History Books — Bear Market To Follow Shortly
A Bull Market For The History Books — Bear Market To Follow Shortly If you’re getting the sense that stocks always go up, that’s because they’ve been doing so for a really, really long time. From CNBC today: On the bull market’s ninth birthday, here’s how it stacks up against history • The Dow has […]
