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Fedpocalypse Now?
Fedpocalypse Now? “Here’s another fine mess you’ve gotten me into….” — Oliver Hardy If ever such a thing was, the stage is set this Monday and Tuesday for a rush to the exits in financial markets as the world prepares for the US central bank to take one baby step out of the corner it’s […]
The zombie apocalypse in oil: Why it’s a bad sign for all of us
The zombie apocalypse in oil: Why it’s a bad sign for all of us The dramatic drop in oil prices has created what are called “zombie” companies, oil companies which can still afford to pay interest on huge debts, but little else. If oil prices stay low, the problem is likely to spread and become an […]
The End of the Bubble Finance Era
The End of the Bubble Finance Era We are nearing a crucial inflection point in the worldwide bubble finance cycle that has been underway for more than two decades. To wit, the world’s central banks have finally run out of dry powder. They will be unable to stop the credit implosion which must inexorably follow […]
Living a Lie
Living a Lie “Above all, don’t lie to yourself. The man who lies to himself and listens to his own lie comes to a point that he cannot distinguish the truth within him, or around him, and so loses all respect for himself and for others. And having no respect he ceases to love.” – Fyodor […]
The IMF Joins the New Cold War
The IMF Joins the New Cold War On December 8, the IMF’s Chief Spokesman Gerry Rice sent a note saying: “The IMF’s Executive Board met today and agreed to change the current policy on non-toleration of arrears to official creditors. We will provide details on the scope and rationale for this policy change in the […]
What Deflation Quacks Like
What Deflation Quacks Like As yet another day of headlines shows, see the links and details in today’s Debt Rattle at the Automatic Earth, deflation is visible everywhere, from a 98% drop in EM debt issuance to junk bonds reporting the first loss since 2008 to corporate bonds downgrades to plummeting cattle prices in Kansas to […]
Peter Schiff Warns: “The Whole Economy Has Imploded… Collapse Is Coming”
Peter Schiff Warns: “The Whole Economy Has Imploded… Collapse Is Coming” Back before 2008 Peter Schiff was harshly criticized and laughed at for his predictions about a coming economic collapse. Among other things Schiff warned that consumer spending had hit a wall, stocks were overpriced and lax credit lending practices would lead to a detonation of the […]
Renewable Energy Bankruptcy Threatens Spanish Banks
Renewable Energy Bankruptcy Threatens Spanish Banks In another sign of the turbulent times for the renewable energy sector, Spain’s Abengoa has declared bankruptcy. The bankruptcy is notable for several reasons. First, it suggests how difficult the transition from conventional energy firms to solvent and stable renewable energy companies will be. Second, it shows how connected the […]
It Will Take Trillions of Euros to Save the European Union
It Will Take Trillions of Euros to Save the European Union The EU’s political leaders and other elites are committed to holding the European Union together. To them, united Europe is an article of faith. They hold the idea with as much ferocity and fervor as any religious belief. But while the European Union is […]
Fourth Turning–Social & Cultural Distress Dividing the Nation
FOURTH TURNING – SOCIAL & CULTURAL DISTRESS DIVIDING THE NATION I wrote the first three parts of this article back in September and planned to finish it in early October, but life intervened and truthfully I don’t think I was ready to confront how bad things will likely get as this Fourth Turning moves into […]
Spain Braces for its Biggest Corporate Insolvency… Ever!
Spain Braces for its Biggest Corporate Insolvency… Ever! Blood on the Bourse Spain is about to experience its biggest corporate insolvency ever. Unlike Bankia and all of Spain’s other bankrupt savings banks, Abengoa, a Seville-based multinational specialized in renewable energy and “environmental services,” is unlikely to receive a taxpayer-funded bailout – at least not just […]
Puerto Rico Is About To Default: Your Complete Guide To An Island Debt Debacle
Puerto Rico Is About To Default: Your Complete Guide To An Island Debt Debacle Last week, we brought you the latest from Puerto Rico’s debt debacle. The commonwealth is desperately trying to restructure some $72 billion in debt while staring down a $354 million bond payment due on December 1. As we discussed at length on Friday, […]
Why We’re Sliding Towards World War
Why We’re Sliding Towards World War Why Now? Paul Craig Roberts – former Assistant Secretary of the Treasury under President Reagan, former editor of the Wall Street Journal, listed by Who’s Who in America as one of the 1,000 most influential political thinkers in the world, PhD economist – wrote an article about the build […]
Seek and Ye Shall Find
Seek and Ye Shall Find A man who wants to lead the orchestra must turn his back on the crowd.” – Max Lucado. So. Farewell then Jim Slater, who died earlier this month. We met Mr. Slater only once, at an investment conference at the height of the financial crisis in 2008. Just before going on […]
