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Consumers In Surprising Places Are Borrowing Like Crazy
Consumers In Surprising Places Are Borrowing Like Crazy The Money Bubble is inflating at different speeds in different places. But apparently no culture is immune: Household Debt Sees Quiet Boom Across the Globe (Wall Street Journal) – A decade after the global financial crisis, household debts are considered by many to be a problem of […]
Find The Sentence That Dooms Pension Funds (Don’t Worry, It’s Highlighted)
Find The Sentence That Dooms Pension Funds (Don’t Worry, It’s Highlighted) The “pension crisis” is one of those things — like electric cars and nuclear fusion — that’s definitely coming but never seems to actually arrive. However, for pension funds the reason a crisis hasn’t yet happened is also the reason that it will happen, […]
The World Embraces Debt At Exactly The Wrong Time
The World Embraces Debt At Exactly The Wrong Time Self-destruction usually happens in stages. At first there’s a binge in which the thrill outweighs the sense of transgression. This is usually followed by remorse, acknowledgement of risks, and an attempt to reform. But straight-and-narrow is exhausting, and because of this is frequently just temporary, eventually […]
The Fed’s Impossible Choice, In Three Charts
The Fed’s Impossible Choice, In Three Charts Critics of “New Age” monetary policy have been predicting that central banks would eventually run out of ways to trick people into borrowing money. There are at least three reasons to wonder if that time has finally come: Wage inflation is accelerating Normally, towards the end of a […]
Really Bad Ideas, Part 6: Money That “Rots And Rusts”
Really Bad Ideas, Part 6: Money That “Rots And Rusts” In the next downturn (which may have started last week, yee-haw), the world’s central banks will face a bit of poetic justice: To keep their previous policy mistakes from blowing up the world in 2008, they cut interest rates to historically – some would say […]
Finally, An Honest Inflation Index – Guess What It Shows
Finally, An Honest Inflation Index – Guess What It Shows Central bankers keep lamenting the fact that record low interest rates and record high currency creation haven’t generated enough inflation (because remember, for these guys inflation is a good thing rather than a dangerous disease). To which the sound money community keeps responding, “You’re looking […]
We Give Up! Government Spending And Deficits Soar Pretty Much Everywhere – John Rubino
We Give Up! Government Spending And Deficits Soar Pretty Much Everywhere – John Rubino A recurring pattern of the past few decades involves governments promising to limit their borrowing, only to discover that hardly anyone cares. So target dates slip, bonds are issued, and the debts keep rising. This time around the timing is especially […]
Suddenly, “De-Dollarization” Is A Thing
Suddenly, “De-Dollarization” Is A Thing For what seems like decades, other countries have been tiptoeing away from their dependence on the US dollar. China, Russia, and India have cut deals in which they agree to accept each others’ currencies for bi-lateral trade while Europe, obviously, designed the euro to be a reserve asset and international […]
The Perfect Crash Indicator Is Flashing Red
The Perfect Crash Indicator Is Flashing Red What’s the last big toy you buy when things have been good for a really long time and you already have all the other toys? An RV, of course. A dubious thing to own if you already have a house, but when the good times seem likely to […]
The Middle East Is Blowing Up
The Middle East Is Blowing Up Every day brings another scary headline from the Middle East — which makes it easy to treat them as background noise rather than a clear and present danger. But the latest batch is reminiscent of the Balkans circa 1914, which means it may be time to tune back in. […]
Soaring Global Debt Sets Stage For “Unprecedented Private Deleveraging”
Soaring Global Debt Sets Stage For “Unprecedented Private Deleveraging” The UK’s Telegraph just published an analysis of global debt that pretty much sums up the coming crisis. Here’s an excerpt with a couple of the more hair-raising charts: Global debt explodes at ‘eye-watering’ pace to hit £170 trillion Global debt has climbed at an “eye-watering” […]
Maybe The Recovery Wasn’t Real After All
Maybe The Recovery Wasn’t Real After All For a while there it looked like the US and its main trading partners had finally achieved escape velocity. Growth was up, inflation was poking through the Fed’s 2% target, and most measures of consumer sentiment were bordering on euphoric. Then it all started to evaporate. Lackluster manufacturing […]
2016 Debt Binge Produces (Surprise!) 2017 Inflation. Guess What That Means For 2018?
2016 Debt Binge Produces (Surprise!) 2017 Inflation. Guess What That Means For 2018? Just as everyone was finally accepting the idea of deflation and negative interest rates, inflation decides to pay a return visit. In the past day, articles with the following headlines appeared in major publications around the world: Swiss inflation rises at highest […]
Alan Greenspan: Ron Paul Was Right About The Gold Standard
Alan Greenspan: Ron Paul Was Right About The Gold Standard As John Rubino eloquently puts it, “when the history of these times is written, former Fed Chair Alan Greenspan will be one of the major villains, but also one of the greatest mysteries. This is so because he has, in effect, been three different people.” Greenspan started […]
