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America’s Minsky Moment Approaches
America’s Minsky Moment Approaches Commentary Named after American economist Hyman Minsky, the idea behind a Minsky moment is that a financial markets crisis (especially in credit markets) is caused by a sudden and systemic collapse in asset prices, usually after a sustained period of speculative investment, excessive borrowing, and widespread financial risk taking. In other […]
Oh Say Can You See?
Oh Say Can You See? “A modern nuc can fit in the trunk of a car. When millions of people can walk across our border with impunity what do you think the chances are we would catch something that size?” — Sam Faddi That’s Sam Faddis, retired CIA (quote didn’t quite fit in block). Who […]
David Stockman on How the US Federal Debt Has Gone Parabolic…
David Stockman on How the US Federal Debt Has Gone Parabolic… The federal debt has been recently increasing by $1 trillion every 100 days. That’s $10 billion per day, $416 million per hour. In fact, Uncle Sam’s debt has risen by $470 billion in the first two months of this year to $34.5 trillion and […]
EIA Confirms U.S. Producing More Oil Than Any Country in History
EIA Confirms U.S. Producing More Oil Than Any Country in History In mid-December, I wrote here that the U.S. had set a new annual oil production record: “The U.S. set a new annual oil production record on December 15, based on data from the Energy Information Administration. Although the official monthly numbers from the EIA won’t be […]
The Next Ten Years and the Fate of Civilization, Why We’re at a Crossroads in History, Plus, What Broken Ages End In
The Next Ten Years and the Fate of Civilization, Why We’re at a Crossroads in History, Plus, What Broken Ages End In (Why) We’re at a Crossroads in History It’s hard to believe, but we’re almost halfway through the 2020s. It’s the year 2024, and…how would you say things are going? For us, whether as […]
Alfred McCoy, Living in a Quagmire World
Alfred McCoy, Living in a Quagmire World Americans have never liked to think of themselves as part of the West’s imperial history that began with the Roman empire and may now quite literally be ending, as historian and TomDispatch regular Alfred McCoy suggests, in a distinctly un-American moment. The author of a classic history of empire, To Govern […]
Only the US Can Destroy the US Dollar
ONLY THE US CAN DESTROY THE US DOLLAR US Dollar as a reserve asset was the first “flywheel” – and only the US can destroy its own ecosystem. Being the reserve currency has enormous benefits. And in the entirety of financial history, the US is the first and only fiat reserve currency. Sterling, and any […]
Eventual Financial Death Spiral Now Imminent – John Rubino
Eventual Financial Death Spiral Now Imminent – John Rubino Analyst and financial writer John Rubino warned nearly four months ago of a “U.S. Financial Death Spiral.” This past week, Bank of America caught up to Rubino and issued a warning about a “US dollar death spiral” because the federal government was going deeper in the red by […]
Record Global Debt: A Ticking Time Bomb for the World Economy
Record Global Debt: A Ticking Time Bomb for the World Economy The relentless increase in global debt is an enormous problem for the economy. Public deficits are neither reserves for the private sector nor a tool for growth. Bloated public debt is a burden on the economy, making productivity stall, raising taxes, and crowding out financing […]
‘Do not play with fire’ Yemen warns EU as Brussels embarks on Red Sea mission
‘Do not play with fire’ Yemen warns EU as Brussels embarks on Red Sea mission EU warships have set off for the Red Sea, where the US navy is waging its largest conflict since the end of WWII in support of Israel (Photo Credit: Getty Images) A high-ranking Yemeni official has warned the EU against […]
Iraqi parliament calling to ditch US dollar for oil trade
Iraqi parliament calling to ditch US dollar for oil trade Washington has exercised strict control over Iraqi oil revenues for the past two decades (Photo credit: INA) The Finance Committee in the Iraqi parliament made a statement on 31 January calling for the sale of oil in currencies other than the US dollar, aiming to counter US […]
Dominoes: After NYCB, Shares Of Japanese Bank Implode On Massive US CRE Writedown
Dominoes: After NYCB, Shares Of Japanese Bank Implode On Massive US CRE Writedown Following a profit warning from New York Community Bancorp on Wednesday, partially attributed to turmoil in the commercial real estate sector, Japan’s Aozora Bank Ltd. slashed the value of some of its US office tower loans by more than 50%, according to Bloomberg. New York […]
Mess In The West: ‘Army Of God’ Convoy Heads To US Border While EU Farmers Block Cities
Mess In The West: ‘Army Of God’ Convoy Heads To US Border While EU Farmers Block Cities In the US, a convoy of truckers, calling themselves “God’s Army,” is preparing to embark on a journey from several locations across the Lower 48 to the southern border as tensions soar between Texas and the Biden administration. Meanwhile […]
Draining America First—The Beginning of the End for Shale Gas
Draining America First—The Beginning of the End for Shale Gas The United States is the biggest producer of natural gas in the world and recently became the largest exporter of LNG. The industry is scrambling to build LNG (liquefied natural gas) export terminals as fast as permitting and funding will allow. This couldn’t come at a worse time. […]
