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Tag Archives: debt
No Serious Financial Repercussions from the Paris Attacks? Don’t Be Too Sure
No Serious Financial Repercussions from the Paris Attacks? Don’t Be Too Sure Global sentiment might switch decisively from “risk-on” to “risk-off” with far-reaching consequences. Goldman Sachs has helpfully announced that any financial repercussions from the attacks in Paris will be short-lived, and the political repercussions will be medium-term: Increased uncertainty likely to weigh on activity and […]
50 Ways to Leave the Euro: Greece and the Global Crisis
50 Ways to Leave the Euro: Greece and the Global Crisis A sticker reads “No” on the palm of a protester during a demonstration calling for a ‘No’ vote in the upcoming referendum in Athens on Jul 3, 2015. (Photo: AFP/Aris Messinis) The problem is all inside your head, I told the Greeks The answer is […]
Charles Hugh Smith: Fixing The Way We Work
Charles Hugh Smith: Fixing The Way We Work Closing the wealth gap with meaningful work Charles Hugh Smith returns to the podcast this week to discuss the theme of his new book A Radically Beneficial World: Automation, Technology and Creating Jobs for All. Automation and artificial intelligence are changing the landscape of work. Tens of millions […]
Weekly Commentary: Risk Off?
Weekly Commentary: Risk Off? The “Granddaddy of All Bubbles” thesis rests upon the view that the world is in the midst of the precarious grand finale of a multi-decade global Credit and financial Bubble. When a Bubble bursts, system reflation requires an even larger fresh new Bubble. This has repeatedly been the case going back […]
They’re coming for your cash
They’re coming for your cash It might sound like a conspiracy theory spun by right-wing crazies. But judging by the increasing desperation of governments to reboot the world economy, it just might happen. “It” is the recall or confiscation of cash, i.e., dollars, euros, pounds, etc., in physical form. And a key justification that those […]
America Disregarded 4,000 Years of History In Responding to the Great Recession
America Disregarded 4,000 Years of History In Responding to the Great Recession We’ve known for over 4,000 years that debts need to be periodically written down, or the entire economy will collapse. After all, debt grows exponentially … while economies only grow in an s-curve. The ancient Sumerians and Babylonians, the early Jews and Christians, the Founding Fathers of […]
The Bubble Finance Cycle: What Our Keynesian School Marm Doesn’t Get, Part 2
The Bubble Finance Cycle: What Our Keynesian School Marm Doesn’t Get, Part 2 In Part 1 of The Bubble Finance Cycle we demonstrated that a main street based wage and price spiral always proceeded recessions during the era of Lite Touch monetary policy (1951 to 1985). That happened because the Fed was perennially “behind the curve” and […]
Albert Edwards Explains Why The “Global Economy Will Be Thrown Into Chaos”
Albert Edwards Explains Why The “Global Economy Will Be Thrown Into Chaos” SocGen’s permarealist, Albert Edwards, has been the one person who for the past decade has firmly held the belief that a “deflationary Ice Age” is upon the world – courtesy of an unmanageable debt load – no matter what central banks do. There […]
The Eurozone’s Minsky Conundrum
The Eurozone’s Minsky Conundrum BRUSSELS – Stubbornly low inflation has the European Central Bank worried. But its response – essentially just more quantitative easing – could backfire, exacerbating imbalances and generating serious financial instability. As it stands, the headline consumer price index in the eurozone hovers around zero, and even core inflation remains below 1% […]
“Social Explosion” Begins In Greece As Massive Street Protests Bring Economy To A Fresh Halt
“Social Explosion” Begins In Greece As Massive Street Protests Bring Economy To A Fresh Halt One thing that became abundantly clear after Alexis Tsipras sold out the Greek referendum “no” back in the summer after a weekend of “mental waterboarding” in Brussels was that the public’s perception of the once “revolutionary” leader would never be […]
Shocking, Little-Known Facts About Debt
Shocking, Little-Known Facts About Debt Both liberals and conservatives assume they have a rough idea of how much “the debt” is. But the real numbers are shocking … Public Debt Is Soaring Global debt has soared to $199 trillion dollars. The debt to GDP ratio for the entire world is 286%. In other words, global debt is […]
A Step Forward for Sovereign Debt
A Step Forward for Sovereign Debt Every advanced country has a bankruptcy law, but there is no equivalent framework for sovereign borrowers. That legal vacuum matters, because, as we now see in Greece and Puerto Rico, it can suck the life out of economies. In September, the United Nations took a big step toward filling […]
The Next Debt-Clearing ‘Super Cycle’ Starts Now
The Next Debt-Clearing ‘Super Cycle’ Starts Now We are in the early stages of a great debt default – the largest in U.S. history. We know roughly the size and scope of the coming default wave because we know the history of the U.S. corporate debt market. As the sizes of corporate bond deals have grown over […]
Venezuela Liquidating Assets As Economic Crisis Worsens
Venezuela Liquidating Assets As Economic Crisis Worsens Venezuela is at a political crossroads, with an all-important parliamentary election set to take place in December. Meanwhile, the Venezuelan economy continues to deteriorate as the state seeks to stave off default and a brewing financial crisis. The state-owned oil company PDVSA is looking to push off debt repayments that […]
Spend A Little, Live A Lot
Spend A Little, Live A Lot Most people want to live a life of extravagance but their meager paychecks often fall far short of reaching that happy place. As a result they are forced to borrow their way to their imagined happiness causing them great financial stress along the way. People have been sold on the […]
