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Weekly Commentary: Q1 2018 Z.1 Flow of Funds
Weekly Commentary: Q1 2018 Z.1 Flow of Funds The first-quarter 2018 Z.1 “flow of funds” report can be viewed in two ways. From one perspective, key conventional data are un-extraordinary. Household debt expanded at a 3.3% rate during the quarter, down from Q4’s 4.6%. Home Mortgage borrowings slowed from 3.4% to 2.9%. Total Business debt […]
America Goes Full Imbecile
America Goes Full Imbecile Credit has a wicked way of magnifying a person’s defects. Even the most cautious man, with unlimited credit, can make mistakes that in retrospect seem absurd. But an average man, with unlimited credit, is preeminently disposed to going full imbecile. Let us not forget about this important skill… [PT] Several […]
Nomi Prins: Central Bank-Inspired “Major Credit Squeeze” Will Trigger Next Crisis
Nomi Prins: Central Bank-Inspired “Major Credit Squeeze” Will Trigger Next Crisis For all the talk about tapering (in both the US and Europe), the Federal Reserve has actually done remarkably little to reduce its balance sheet. And in an interview with Macrovoices Erik Townsend, former Wall Street executive Nomi Prins expands upon some of the […]
Beware of the Coming Economic Debt Bomb
Beware of the Coming Economic Debt Bomb Investors should start paying attention to the nation’s growing debt. Here’s why. “There is a sword of Damocles hanging over the head of every American. Sadly, it is about to drop.” Sorry for the drama, but I need to get your attention. We know that the Fed has […]
US Money Supply Growth Jumps in March , Bank Credit Growth Stalls
US Money Supply Growth Jumps in March , Bank Credit Growth Stalls A Movie We Have Seen Before – Repatriation Effect? There was a sizable increase in the year-on-year growth rate of the true US money supply TMS-2 between February and March. Note that you would not notice this when looking at the official broad […]
How High Is The Risk of a Currency Crisis?
How High Is The Risk of a Currency Crisis? “The reports of my death are greatly exaggerated”, quipped Mark Twain in response to a newspaper report that said he was on his deathbed. The same could be said about many fiat currencies. Whether we are looking at the US dollar, the euro, the Japanese yen […]
Stop and Assess
Stop and Assess America has become Alzheimer Nation. Nothing is remembered for more than a few minutes. The news media, which used to function as a sort of collective brain, is a memory hole that events are shoved down and extinguished in. An attack in Syria, you ask? What was that about? Facebook stole your…what? […]
RBC Warns Cracks “Starting To Show” In Canadian Credit
RBC Warns Cracks “Starting To Show” In Canadian Credit One often wonders if the government will ever realize that, due to its policies, its “solutions” often wind up turning into bigger problems than the ones they set out to address initially? Not only that, but this has been the case for decades, and it will […]
Surviving The Next Great Depression
Surviving The Next Great Depression Numerous economists and investors are warning of another great financial crisis to come but few people want to listen to them. No crisis is ever exactly like the last one and the next great depression will be different from the last one. In the last depression those who had money were […]
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 […]
The $233 Trillion Dollar Dark Cloud of Global Debt
The $233 Trillion Dollar Dark Cloud of Global Debt Global debt has reached record heights without any signs of relief. While central bankers try to explain away the phenomenon of these out-of-control numbers, it’s not much of a mystery. Immediate consumption with the promise of repayment sometime in the future has consequences. Global debt is […]
The Real Engine of the Business Cycle
MARK RALSTON/AFP/Getty Images The Real Engine of the Business Cycle A valuable lesson from the Great Recession is that credit-supply expansions play a key role in subsequent recessions. When lenders make credit more available or more affordable, households respond by taking on debt, which drives up aggregate demand – that is, until the music stops. […]
Daniel Nevins: Economics for Independent Thinkers
Daniel Nevins: Economics for Independent Thinkers It’s time we stop trusting the ‘experts’ Economists are supposed to monitor and analyze the economy, warn us if risks are getting out of hand, and advise us on how to make things runs more effectively — right? Well, even though that’s what most people expect from economists, it’s […]
What’s Behind Global Inflation: China Creates A Record 2.9 Trillion Yuan In New Loans In One Month
What’s Behind Global Inflation: China Creates A Record 2.9 Trillion Yuan In New Loans In One Month According to one monetary theory, in a world in which China is the dominant creator of debt – which it has been since the financial crisis – it is also China that is the marginal creator of the […]
