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Brodsky: This Is A Red Flag Warning
Brodsky: This Is A Red Flag Warning Authored by Paul Brodsky via Macro-Allocation.com, Red Flag Warning Two identifiable dynamics may signal significant market shifts imminently: 1. The US debt ceiling will be debated soon and signs point towards a messy outcome. 2. Recent economic data have been weak, confirming our thesis that US economic growth […]
Expediency and Magical Thinking
Earth’s Economy Glorifies Waste, Exploitation, Debt, Expediency and Magical Thinking Humanity appears to default to magical thinking when faced with untenable situations that demand systemic change. How would extraterrestrial anthropologists characterize Earth’s dominant socio-economic system? It’s not difficult to imagine their dismaying report: “Earth’s economy glorifies waste. Its economists rejoice when a product is disposed as […]
We Do These Things Because They’re Easy: Our All-Consuming Dependence on Debt
We Do These Things Because They’re Easy: Our All-Consuming Dependence on Debt A world in which “we do these things because they’re easy” has one end-state: collapse. On September 12, 1962, President John F. Kennedy gave a famous speech announcing the national goal of going to the moon by the end of the decade. (JFK’s speech […]
Fed Chair Janet Yellen Warns Congress: US Debt Trajectory Is Unsustainable
Fed Chair Janet Yellen Warns Congress: US Debt Trajectory Is Unsustainable During her tesimony this morning, Fed Chair Janet Yellen urged Congress to take into account the growth trajectory of the federal debt when making decisions about spending and taxation. She said lawmakers need to work toward achieving “sustainability of this debt path over time,” […]
The Looming Energy Shock
Carlos E. Santa Maria/Shutterstock The Looming Energy Shock The next oil crisis will arrive in 3 years or less There will be an extremely painful oil supply shortfall sometime between 2018 and 2020. It will be highly disruptive to our over-leveraged global financial system, given how saddled it is with record debts and unfunded IOUs. […]
Global Debt Hits A New Record High Of $217 Trillion; 327% Of GDP
Global Debt Hits A New Record High Of $217 Trillion; 327% Of GDP The Institute of International Finance is perhaps best known for its periodic – and concerning – reports summarizing global leverage statistics, and its latest Q1 report was the most troubling yet, because what it found was that in a period of so-called […]
The Inconvenient Truth of Consumer Debt
The Inconvenient Truth of Consumer Debt It’s acceptable to build infinitely high levels of household debt — as long as rates never rise. Ready for a rainy day?Photographer: Anoek De Groot/AFP/Getty Images Oh, but for the days the hawks had a hero in Sydney. Against the backdrop of a de facto currency war, the Reserve […]
Debt Has No Consequences? Color Me Skeptical
Debt Has No Consequences? Color Me Skeptical The entire status quo is based on the delusion that rapidly rising debt will never generate any negative consequences. Here’s a chart of America’s national debt, extended a mere dozen years into the future: the current $20 trillion in debt will double to $40 trillion, and that assumes […]
The Three Headed Debt Monster That’s Going to Ravage the Economy
The Three Headed Debt Monster That’s Going to Ravage the Economy Mass Infusions of New Credit “The bank is something more than men, I tell you. It’s the monster. Men made it, but they can’t control it.” – John Steinbeck, The Grapes of Wrath Something strange and somewhat senseless happened this week. On Tuesday, the price […]
Why The Markets Are Overdue For A Gigantic Bust
r.classen/Shutterstock Why The Markets Are Overdue For A Gigantic Bust It’s just not possible to print our way to prosperity Let me begin with a caveat: confirmation bias is an ever-present risk for an analyst such as myself. If you’re not familiar with the term, ‘confirmation bias’ suggests that once we’ve invested time and emotional […]
Will the Crazy Global Debt Bubble Ever End?
Will the Crazy Global Debt Bubble Ever End? There are multiple sources of friction in the Perpetual Motion Money Machine. We’ve been playing two games to mask insolvency: one is to pay the costs of rampant debt today by borrowing even more from future earnings, and the second is to create wealth out of thin […]
Want to Understand Rising Wealth Inequality? Look at Debt and Interest
Want to Understand Rising Wealth Inequality? Look at Debt and Interest “Governments cannot reduce their debt or deficits and central banks cannot taper. Equally, they cannot perpetually borrow exponentially more. This one last bubble cannot end (but it must).” I often refer to debt serfdom, the servitude debt enforces on borrowers. The mechanism of this […]
The Automatic Earth Primer Guide 2017
The Automatic Earth Primer Guide 2017 Pablo Picasso Bull plates I-XI 1945Nicole Foss has completed a huge tour de force with her update of the Automatic Earth Primer Guide. The first update since 2013 is now more like a Primer Library, with close to 160 articles and videos published over the past -almost- 10 […]
