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Intense heat and flooding are wreaking havoc on power and water systems as climate change batters America’s aging infrastructure
Intense heat and flooding are wreaking havoc on power and water systems as climate change batters America’s aging infrastructure The 1960s and 1970s were a golden age of infrastructure development in the U.S., with the expansion of the interstate system and widespread construction of new water treatment, wastewater and flood control systems reflecting national priorities in public […]
Fed Paper Admits the Central Bank Can’t Control Inflation; Finger-Points at Federal Government
Fed Paper Admits the Central Bank Can’t Control Inflation; Finger-Points at Federal Government It appears somebody at the Federal Reserve has figured out that the central bank can’t tame inflation, so it’s setting up a scapegoat – Uncle Sam. A paper co-authored by Leonardo Melosi of the Federal Reserve Bank of Chicago and John Hopkins University […]
The Fed Can’t Stop Supply-Side Inflation
The Fed Can’t Stop Supply-Side Inflation The Fed and other central banks have zero control of supply-driven inflation, period. America’s financial punditry is bewitched by four fatal fantasies: 1. Inflation is demand-driven. If the Federal Reserve (or other central banks) reduce demand with monetary tools like raising interest rates, inflation will cool. 2. Substitution of […]
The Pause…
The Pause… I have frequently described “Project Zimbabwe” as a highly inflationary cycle where both fiscal and monetary stimulus go into insanity mode. While I sincerely hope we don’t go hyperinflationary like Zimbabwe, I certainly think we see an elongated period of substantial and debilitating inflation. When this cycle finally ends, society and our financial […]
It’s Game Over for the Fed—Expect a Monetary “Rug Pull” Soon…
It’s Game Over for the Fed—Expect a Monetary “Rug Pull” Soon… You often hear the media, politicians, and financial analysts casually toss around the word “trillion” without appreciating what it means. A trillion is a massive, almost unfathomable number. The human brain has trouble understanding something so huge. So let me try to put it […]
Fed Chairman Paul Volcker’s Thoughts On Goverance
Fed Chairman Paul Volcker’s Thoughts On Goverance For many people, former Fed Chairman Paul Volcker’s relevance today is rooted in how he broke the back of surging inflation in 1980. He is widely credited with employing the harsh policies that ended the high levels of inflation seen in the United States during the 1970s and […]
What Happens If The Fed Doesn’t Capitulate On Interest Rates?
What Happens If The Fed Doesn’t Capitulate On Interest Rates? In the past stock markets used to rely on the innovation and profit reports of individual companies, and while there were sometimes all encompassing events that would push equities in one direction or another, in the last decade there has been only one factor that ever really […]
Running on Empty, Part V
Running on Empty, Part V When the Dollar is Broken, What Does One Do to Not Go Broke? (Guest Post) Gary Brode of Deep Knowledge Investing was kind enough to share my series Running on Empty with his readers. This afternoon I’ve invited him to offer his thoughts for my readers, focusing on the implications that […]
Those who the gods wish to destroy…
Those who the gods wish to destroy… The UK is already in a de facto recession – only the fiddling of the data to count GP appointments as a value-adding activity led to a paltry 0.5 percent GDP growth in May. Discretionary spending has already plummeted, and it is only a matter of time before we see […]
“Take The Tragedy In Sri Lanka And Multiply By Ten”: The Fed Just Lobbed A Financial Nuke That Will Obliterate The Global Economy
“Take The Tragedy In Sri Lanka And Multiply By Ten”: The Fed Just Lobbed A Financial Nuke That Will Obliterate The Global Economy We are living in a period of mass “Jonestown” economic delusion. Just twenty months ago – central bankers were offering to buy nearly every junk bond known to mankind, dramatically distorting the […]
Welcome to 1984
Welcome to 1984 I’ve been addressing the war on cash lately, and for good reason. While everyone’s attention is focused on the war in Ukraine, inflation and the Supreme Court, government plans to eliminate cash are accelerating. For example, central bank digital currencies (CBDCs) are coming even faster than many anticipated. The digital yuan is […]
Pulling Back The Curtain On The ‘Real’ US Economy
Pulling Back The Curtain On The ‘Real’ US Economy Revised numbers on US GDP from the Bureau Of Economic Analysis indicate that the economy faces a deeper contraction than originally reported. GDP shrank in the first quarter of 2022 by 1.6%; this is an impressive and sharp reversal from the fourth quarter of last year, which saw GDP […]
The Engineered Stagflationary Collapse Has Arrived – Here’s What Happens Next
The Engineered Stagflationary Collapse Has Arrived – Here’s What Happens Next In my 16 years as an alternative economist and political writer I have spent around half that time warning that the ultimate outcome of the Federal Reserve’s stimulus model would be a stagflationary collapse. Not a deflationary collapse, or an inflationary collapse, but a […]
Media: Why the Fed Raised 75 bps and How to Break the Davos Crowd
Media: Why the Fed Raised 75 bps and How to Break the Davos Crowd I sat down for a long chat with my good friend Crypto Rich over the weekend and have just found the 20 minutes to post them here. We did a series of videos, Duran-style, on a number of topics. They are […]
The Fed Is Winging It: A 75 Basis-Point Hike “Seemed Like the Right Thing”
The Fed Is Winging It: A 75 Basis-Point Hike “Seemed Like the Right Thing” The Federal Reserve’s Federal Open Market Committee (FOMC) today announced an increase of 75 basis points to the target federal funds rate, raising the rate to 1.75% from 1%. June’s meeting today was the third meeting this year at which the FOMC has […]
