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3-minute video: US $18 TRILLION debt being dumped; economic endgame? If so, demand monetary/credit reform or kiss your assets goodbye
3-minute video: US $18 TRILLION debt being dumped; economic endgame? If so, demand monetary/credit reform or kiss your assets goodbye Elliott Wave International’s 3-minute video documents US debt securities being sold by other nations’ governments (and here). This is in context of the historically ever-increasing US federal government’s $18 trillion debt. US “leadership” chose to somehow “freeze” […]
Austerity Good or Bad?
Austerity Good or Bad? QUESTION: Martin, The ‘Austerity’ argument seems a bit confusing. Surely, “Austerity” means reducing the size of Government and is an understanding that we can’t keep funding zillions of civil/public servants and on the other is a reduction of the Social Security Bill – healthcare, social benefits, the cost of the un and […]
The Hidden Debt Burden of Emerging Markets
The Hidden Debt Burden of Emerging Markets As central bankers and finance ministers from around the globe gather for the International Monetary Fund’s annual meetings here in Peru, the emerging world is rife with symptoms of increasing economic vulnerability. Gone are the days when IMF meetings were monopolized by the problems of the advanced economies […]
Congress Declares Martial Law as Dollar Rapidly Collapsing: “Living in Last Days of This Republic.”
Congress Declares Martial Law as Dollar Rapidly Collapsing: “Living in Last Days of This Republic.” The debt ceiling issue is returning to the forefront in American politics, again threatening a government shutdown. Last time, the shutdown resulting in sequester for many agencies that suspended work for many government employees; a great deal of political theater […]
Why Are The IMF, The UN, The BIS And Citibank All Warning That An Economic Crisis Could Be Imminent?
Why Are The IMF, The UN, The BIS And Citibank All Warning That An Economic Crisis Could Be Imminent? The warnings are getting louder. Is anybody listening? For months, I have been documenting on my website how the global financial system is absolutely primed for a crisis, and now some of the most important financial institutions in […]
Chapter 5: Economists and the Banking System, Part 2: Adam Smith, Some Early Americans, and Friedrich List
Chapter 5: Economists and the Banking System, Part 2: Adam Smith, Some Early Americans, and Friedrich List This chapter is about economics in transition. Economics means literally ‘housekeeping’ and most early writers on economics (roughly speaking before Adam Smith, 1723-90) treated it that way. They worried about a nation’s solvency, whether fairness generally prevailed in […]
Debt Déjà Vu
Debt Déjà Vu For two years, financial markets have repeated the same error – predicting that US interest rates will rise within about six months, only to see the horizon recede. This serial misjudgment is the result not of unforeseeable events, but of a failure to grasp the strength and global nature of the deflationary […]
How the Chinese Will Establish a New Financial Order
How the Chinese Will Establish a New Financial Order For many years now, it’s been clear that China would soon be pulling the strings in the U.S. financial system. In 2015, the American people owe the Chinese government nearly $1.5 trillion. I know big numbers don’t mean much to most people, but keep in mind… […]
Parasites in the Body Economic: the Disasters of Neoliberalism
Parasites in the Body Economic: the Disasters of Neoliberalism The following is a transcript of CounterPunch Radio – Episode 19(originally aired September 21, 2015). Eric Draitser interviews Michael Hudson. Eric Draitser: Today I have the privilege of introducing Michael Hudson to the program. Doctor Hudson is the author of the new book Killing the Host: How Financial […]
Austerity or Hyperinflation. Which is the Precursor to Revolution?
Austerity or Hyperinflation. Which is the Precursor to Revolution? QUESTION: Mr, Armstrong; I recently read an article claiming to be a case study that it was somehow the French hyperinflation that led to the revolution. It seems that as you say they are again mixing facts to support a rise in gold with hyperinflation. I am a […]
Part Deux ‐ Shorting the Federal Reserve
Part Deux ‐ Shorting the Federal Reserve The sequence of events leading up the French Revolution are likely unfamiliar to most. Yet money printing and a debauched French currency played no small part in those events. As a sequel to “Shorting the Federal Reserve”, 720 Global aims to provide an historical example of excessive money […]
How Bad Can This Get, And How Fast?
How Bad Can This Get, And How Fast? There’s so much negative real bad economic and financial news out there that it’s hard to choose a ‘favorite’, but I guess I’m going to have to go with what underlies and ‘structures’ it all, the IIF stating that for the first time since 1988 and the […]
Did Argentina’s CNV Pass a Law to Avoid a Bond Payment?
Did Argentina’s CNV Pass a Law to Avoid a Bond Payment? Last Tuesday, Argentina’s securities regulator, the CNV, shocked markets by announcing Resolution 646 requiring that mutual funds price dollar-denominated assets in pesos at the official government rate rather than the market rate that is closer to the parallel or blue dollar. Despite efforts from banks […]
Chinese Cash Flow Shocker: More Than Half Of Commodity Companies Can’t Pay The Interest On Their Debt
Chinese Cash Flow Shocker: More Than Half Of Commodity Companies Can’t Pay The Interest On Their Debt Earlier today, Macquarie released a must-read report titled “Further deterioration in China’s corporate debt coverage”, in which the Australian bank looks at the Chinese corporate debt bubble (a topic familiar to our readers since 2012) however not in terms […]
Spain Leaps Toward Political Breakdown
Spain Leaps Toward Political Breakdown Desperately needed international investors dread it The dust is not even close to settling after Catalonia’s latest experimental flirtation with nation building. The pro-independence coalition fell tantalizingly short of gaining a majority of seats (62 out of 135). Now it needs the support of the anti-capitalist separatist party Popular Unity Candidacy […]
