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David Stockman on Washington’s Fiscal Doomsday Machine
David Stockman on Washington’s Fiscal Doomsday Machine Here’s one that will make your hair stand on end: The US Treasury closed the books on FY 2023, bringing the four-year cumulative deficit to $9.0 trillion! That’s right. During the last 1,461 days (FY 2020 thru FY 2023), Uncle Sam has generated $6.2 billion of red ink each and every […]
U.S. Financial Death Spiral – John Rubino
U.S. Financial Death Spiral – John Rubino Analyst and financial writer John Rubino has a new warning about being fooled into thinking the economy is improving because inflation and interest rates have fallen some recently. Rubino says, “If the U.S. government is running crisis level deficits, which it is right now, borrowing money and paying […]
Spirits in the Material World
SPIRITS IN THE MATERIAL WORLD There is no political solutionTo our troubled evolutionHave no faith in constitutionThere is no bloody revolution The Police – Spirits in the Material World As I was driving home from work last week, an almost forty-year-old song began emanating from my radio. I’ve always appreciated the music of The Police, […]
Fourth Turning Economics
Fourth Turning Economics “In retrospect, the spark might seem as ominous as a financial crash, as ordinary as a national election, or as trivial as a Tea Party. The catalyst will unfold according to a basic Crisis dynamic that underlies all of these scenarios: An initial spark will trigger a chain reaction of unyielding responses […]
Debts & Deficits: A Slow Motion Train Wreck
Debts & Deficits: A Slow Motion Train Wreck Last Friday, I discussed that without much fanfare or public discussion, Congress decided to push the U.S. into deeper fiscal irresponsibility with the passage of another Continuing Resolution (CR). To wit: “The House on Wednesday passed an $854 billion spending bill to avert an October shutdown, funding large swaths […]
Government Are Just Going Broke
Governments Are Just Going Broke The events in the Senate concerning the nomination of Brett Kavanaugh’s illustrates that career politicians are destroying our way of life because they are so intent on just beating the opposite party that nobody is paying attention to the real problems we are staring at straight in its eyes. We face a […]
Getting Serious About Debts and Deficits
Getting Serious About Debts and Deficits Photo Source CafeCredit.com | CC BY 2.0 With the possibility that the Democrats will retake Congress and press demands for increased spending in areas like health care, education, and child care, the deficit hawks (DH) are getting prepared to awaken from their dormant state. We can expect major news […]
The Gathering Storm In The Treasury Market
The Gathering Storm In The Treasury Market Summary Our analysis provides kind of a Grand Unified Theory (GUT) of what is currently taking place in global financial markets The massive borrowing by the U.S. Treasury is crowding out emerging markets capital flows The structural factors that have kept long-term interest rates low and term premia repressed are fading […]
High Debt Levels Rant
HIGH DEBT LEVELS RANT I am going to break from regular market commentary to step back and think about the big picture as it relates to debt and inflation. Let’s call it philosophical Friday. But don’t worry, there will be no bearded left-wing rants. This will definitely be a market-based exploration of the bigger forces […]
The Great Deficit Ruse
The Great Deficit Ruse Your intuition is right: tax cuts are good and tax increases are bad. If your profligate friend blew his budget on liquor, you might feel bad for him. But it’s unlikely that you would be willing to fork over money to cover his mistake. He needs to figure it out. And […]
Canada’s new deficit plan is trouble
Canada’s new deficit plan is trouble Yesterday Federal Finance Minister Bill Morneau announced the projected deficit for 2016-17 is now $18.4 billion. This amount does not include $10.5 billion in new spending promised by the Liberals during the election campaign. When the budget is delivered in one month’s time it is foreseeable the total deficit […]
Deranged Central Bankers Blowing Up the World
DERANGED CENTRAL BANKERS BLOWING UP THE WORLD It is now self-evident to any sentient being (excludes CNBC shills, Wall Street shyster economists, and Keynesian loving politicians) the mountainous level of unpayable global debt is about to crash down like an avalanche upon hundreds of millions of willfully ignorant citizens who trusted their politician leaders and […]
Fourth Turning: Crisis of Trust
Fourth Turning: Crisis of Trust “Imagine some national (and probably global) volcanic eruption, initially flowing along channels of distress that were created during the Unraveling era and further widened by the catalyst. Trying to foresee where the eruption will go once it bursts free of the channels is like trying to predict the exact fault […]
Catch – 22
Catch – 22 So much of education, I think, relies on reading the right book at the right time. My first attempt atCatch-22 was in high school, and I was way too young to get much out of it. But fortunately I picked it up again in my late 20’s, after a few experiences with The […]
