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Is Europe In Trouble Again: Hints Of Portuguese, Italian Bank Bailouts Suggest Not All Is Well
Is Europe In Trouble Again: Hints Of Portuguese, Italian Bank Bailouts Suggest Not All Is Well In the aftermath of Germany refusal to allow Italy to breach Eurozone regulations, and provide its banks with up to €40 billion in new capital, Italy has unveiled a new track to handle its insolvent banks and as Reuters reports, the […]
Revolts of the Debtors: From Socrates to Ibn Khaldun
Revolts of the Debtors: From Socrates to Ibn Khaldun Last week I attended a wonderful conference in the university town of Tübingen, Germany, on “Debt: The First 3500 Years,” to bring ancient historians together to discuss David Graeber’s book Debt: The First 5000 Years. I was enlightened by two papers in particular. Doctoral fellow Moritz Hinsch […]
IMF Blames Bad Loans For Mozambique’s Soaring Debt-To-GDP Ratio
IMF Blames Bad Loans For Mozambique’s Soaring Debt-To-GDP Ratio Mozambique has a broad swath of problems within its governing councils. Back in December of 2005, Management Systems International based out of Washington issued a report titled CORRUPTION ASSESSMENT: MOZAMBIQUE which said point blank: “The scale and scope of corruption in Mozambique are cause for alarm”. Mozambique’s head […]
Will Japan Be the First to Test the Limits of Quantitative Easing?
WILL JAPAN BE THE FIRST TO TEST THE LIMITS OF QUANTITATIVE EASING? The Japanese stock market peaked in December 1989, marking the end of a period of economic expansion which briefly saw Japan eclipse the USA to become the world’s largest economy. Since its zenith, Japan has struggled. I wrote about this topic, in relation […]
You are currently living through the dumbest monetary experimental end game in history (including Havenstein and Gono’s)
You are currently living through the dumbest monetary experimental end game in history (including Havenstein and Gono’s) We have seen several explanations for the financial crisis and its lingering effects depressing our global economy in its aftermath. Some are plain stupid, such as greed for some reason suddenly overwhelmed people working within finance, as if […]
Japan: A Future of Stagnation
Japan: A Future of Stagnation Take a declining population with declining rates of productivity growth and load it up with debt, and you get a triple-whammy recipe for permanent stagnation. One of our longtime friends in Japan just sold the family business. The writing was on the wall, and had been for the past decade: fewer […]
Chapter 7: Secrets, Ignorance and Lies: Money, Credit and Debt
CHAPTER 7: SECRETS, IGNORANCE AND LIES: MONEY, CREDIT AND DEBT. “The tyranny of fraud is not less oppressive than that of force.” John Taylor of Caroline, Virginia, 1814. Our system of money-creation was invented and developed during a time when war was seen as glorious, when the strong robbing and managing the weak was admired as […]
This is How Draghi Will Sock it to Investors that Weren’t Invited to the Secret Meetings
This is How Draghi Will Sock it to Investors that Weren’t Invited to the Secret Meetings They’re all getting ready for Wednesday. Here’s what Draghi has accomplished recently: the prices of euro-denominated corporate debt have soared. The average yield of investment-grade debt is on the verge of dropping below 1%. A good part of the […]
Bondholders Stunned As Puerto Rico Finds $4.4 Billion In Outstanding Debt “Unconstitutional”
Bondholders Stunned As Puerto Rico Finds $4.4 Billion In Outstanding Debt “Unconstitutional” After Puerto Rico defaulted on its $422 million debt payment in May, governor Padilla begged congress to step in and help out, which happened shortly thereafter when a House committee cleared legislation that provided Puerto Rico with a way forward on restructuring its debt. As it […]
The Source of Failure: We Optimize What We Measure
The Source of Failure: We Optimize What We Measure Rather than measure consumption and metrics that incentivize debt, what if we measure well-being and opportunities offered in our communities? The problems we face cannot be fixed with policy tweaks and minor reforms.Yet policy tweaks and minor reforms are all we can manage when the pie […]
The real oil limits story; what other researchers missed
The real oil limits story; what other researchers missed For a long time, a common assumption has been that the world will eventually “run out” of oil and other non-renewable resources. Instead, we seem to be running into surpluses and low prices. What is going on that was missed by M. King Hubbert, Harold Hotelling, and by […]
Negative-Interest-Rate absurdity is another “rabbit out of the hat.”
Negative-Interest-Rate absurdity is another “rabbit out of the hat.” For the second time this year, Spain’s caretaker government just managed to sell 50-year bonds in a €3 billion ($3.4 billion) deal. Despite maturing in the year 2066, when many of us won’t even be alive and the duty to pay back the debt (assuming it […]
German Study Proves It – 95% of Greek “Bailout” Money Went to the Banks
German Study Proves It – 95% of Greek “Bailout” Money Went to the Banks I simply cannot stress enough how important Greece is to freedom, liberty and civilization across the globe. Greece is not a one-off, or merely a small nation in big trouble that holds little relevance for the rest of us. Greece is everything. […]
US Commercial Bankruptcies Skyrocket
US Commercial Bankruptcies Skyrocket The “credit cycle” begins to unravel. One of the big indicators of the end of the “credit cycle” is the number of bankruptcies. During good times, so earlier in the credit cycle, companies borrow money. Then, overconfident and lured by low interest rates and overoptimistic rosy-scenario rhetoric emanating from all sides, they […]
Eight “New Normal” Charts That Are Insanely Abnormal–and Dangerous
Eight “New Normal” Charts That Are Insanely Abnormal–and Dangerous Is there anyone on the planet who’s actually stupid enough to believe these New Normal charts are healthy and sustainable? Anyone questioning the sustainability and rightness of The New Normal is immediately attacked by the mainstream-media defenders of the crumbling status quo. Not only is everything that […]
