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Global Debt Hits Record $237 Trillion, Up $21TN In 2017
Global Debt Hits Record $237 Trillion, Up $21TN In 2017 Last June we reported that according to the Institute of International Finance – perhaps best known for its periodic and concerning reports summarizing global leverage statistics – as of the end of 2016, in a period of so-called “coordinated growth”, global debt hit a new […]
The Next Crisis Will Be The Last
The Next Crisis Will Be The Last It is an interesting thing. Throughout the last four decades there is a direct link between the actions of the Federal Reserve and the eventual economic and market outcomes due to changes in monetary policy. In every case, that outcome has been negative. The general consensus continues to […]
BofA’s Striking Admission: Markets Will Soon Begin To Panic About Debt Sustainability
BofA’s Striking Admission: Markets Will Soon Begin To Panic About Debt Sustainability In the latest BofA survey of European fixed income investors (both IG and high yiled), the bank’s credit analyst Barnaby Martin writes that “after fretting about inflation at the start of the year, April’s credit survey shows that the biggest concern has reverted […]
Whatever Happened to Saving for a Rainy Day?
Michael Brochstein/SOPA Images/LightRocket via Getty Images Whatever Happened to Saving for a Rainy Day? The US will be paying for its current fiscal excesses with the promise of future payments. But inefficient economic stimulus now will not give future generations the productive resources needed to make good on it. CAMBRIDGE – More than a decade […]
The Future Ain’t What It Used To Be
© Rangizzz | Dreamstime.com The Future Ain’t What It Used To Be Looks like we’re in for a much rockier ride than many expect This marks our our 10th year of doing this. And by “this”, we mean using data, logic and reason to support the very basic conclusion that infinite growth on a finite […]
How Many Trillions In Debt Are Linked To Soaring LIBOR?
How Many Trillions In Debt Are Linked To Soaring LIBOR? Over the past month as Libor continued its relentless upward creep and is now higher for 37 consecutive sessions, the longest streak of advances since November 2005, and rising to 2.3118% while blowing out the Libor-OIS spread to a crisis-like 59bps, a cottage industry has […]
The degenerative impacts of our money system
The degenerative impacts of our money system “The way that a national economy preys on its internal colonies is by the destruction of communities” — Wendell Berry The creation of money with interest has two main impacts on the operation of today’s economies. Our monetary system creates the need for economic growth by design One of the […]
Russia Stockpiles Gold, But Why?
Russia Stockpiles Gold, But Why? The US’s overhang of debt and looming trade war is worrisome on many levels as the value of the dollar keeps decreasing and the national debt spiraling. So, what should we make of the fact that the Central Bank of Russia has been steadily amassing vast gold reserves since 2015? […]
High Debt Levels Rant
HIGH DEBT LEVELS RANT I am going to break from regular market commentary to step back and think about the big picture as it relates to debt and inflation. Let’s call it philosophical Friday. But don’t worry, there will be no bearded left-wing rants. This will definitely be a market-based exploration of the bigger forces […]
Peter Schiff: There’s A BIG Problem With The Economy, ‘Americans Are BROKE’
Peter Schiff: There’s A BIG Problem With The Economy, ‘Americans Are BROKE’ Financial analyst Peter Schiff says there’s a big problem with the economy even though the mainstream media is reporting that rising interest rates are a good thing. The problem, however, is that Americans are broke, and those interest rates could have a major […]
Modern-Day Debtors’ Prisons and Debt in Antiquity
Modern-Day Debtors’ Prisons and Debt in Antiquity Photo by Zak Greant | CC BY 2.0 Paul Sliker: So Michael, in conjunction with Harvard University’s Peabody Museum you headed up an archaeological research team on the origins of private property, debt, and real estate and the origins of economic civilization in the ancient Near East. You actually […]
US Gross National Debt Spikes $1.2 Trillion in 6 Months, Hits $21 Trillion
US Gross National Debt Spikes $1.2 Trillion in 6 Months, Hits $21 Trillion These dang trillions are flying by so fast, they’re hard to see. The US gross national debt jumped by $72.8 billion in one day, on Thursday, the Treasury Department reported Friday afternoon. This March 16 is a historic date of gloomy proportions, […]
