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Bankrupt Cities And States Get The National Disaster They’ve Been Hoping For
Bankrupt Cities And States Get The National Disaster They’ve Been Hoping For The people running states like New Jersey and cities like Chicago know they’re broke. Ridiculously generous public employee pensions – concocted by elected officials and union leaders who had to have understood that they were writing checks their taxpayers couldn’t cover – are […]
Civil Unrest Is The New Normal Out There
Civil Unrest Is The New Normal Out There This is getting ridiculous. Every few days another country blows up, as their citizens take to the streets with little warning and no apparent interest in a quick settlement. Here’s the first part of the “War…Civil Unrest” section of today’s DollarCollapse.com links list. As you can see the […]
Here Comes The Housing Bust “Reverse Wealth Effect,” Australia Edition
Here Comes The Housing Bust “Reverse Wealth Effect,” Australia Edition For the past few years, homeowners just about everywhere have been able to finesse life’s problems by thinking “at least my house is going up.” This home equity accretion allowed them to buy stuff on credit, safe in the knowledge that even as they maxed […]
Rising Interest Rates Start Popping Bubbles — The End Of This Expansion Is Now In Sight
Rising Interest Rates Start Popping Bubbles — The End Of This Expansion Is Now In Sight Towards the end of economic expansions, interest rates usually start to rise as strong loan demand bumps up against central bank tightening. At first the effect on the broader economy is minimal, so consumers, companies and governments don’t let […]
From Buenos Aires To Nashville: The Emerging Market Crisis Spreads From Periphery To Core
From Buenos Aires To Nashville: The Emerging Market Crisis Spreads From Periphery To Core This is the last emerging market crisis story for a while, promise. But one angle – exactly how a plunging currency in a far-off place affects supposedly stable markets like the US – is worth exploring because it’s happening right this […]
Even Mortgage Lenders Are Repeating Their 2006 Mistakes
Even Mortgage Lenders Are Repeating Their 2006 Mistakes You’d think the previous decade’s housing bust would still be fresh in the minds of mortgage lenders, if no one else. But apparently not. One of the drivers of that bubble was the emergence of private label mortgage “originators” who, as the name implies, simply created mortgages […]
Another Way Of Looking At The Pension Crisis, As “A Stealth Mortgage on Your House”
Another Way Of Looking At The Pension Crisis, As “A Stealth Mortgage on Your House” Money manager Rob Arnott and finance professor Lisa Meulbroek have run the numbers on underfunded pension plans and come up with an interesting – and highly concerning – new angle: That they impose a “stealth mortgage” on homeowners. Here’s how […]
A Bull Market For The History Books — Bear Market To Follow Shortly
A Bull Market For The History Books — Bear Market To Follow Shortly If you’re getting the sense that stocks always go up, that’s because they’ve been doing so for a really, really long time. From CNBC today: On the bull market’s ninth birthday, here’s how it stacks up against history • The Dow has […]
Consumers In Surprising Places Are Borrowing Like Crazy
Consumers In Surprising Places Are Borrowing Like Crazy The Money Bubble is inflating at different speeds in different places. But apparently no culture is immune: Household Debt Sees Quiet Boom Across the Globe (Wall Street Journal) – A decade after the global financial crisis, household debts are considered by many to be a problem of […]
The World Embraces Debt At Exactly The Wrong Time
The World Embraces Debt At Exactly The Wrong Time Self-destruction usually happens in stages. At first there’s a binge in which the thrill outweighs the sense of transgression. This is usually followed by remorse, acknowledgement of risks, and an attempt to reform. But straight-and-narrow is exhausting, and because of this is frequently just temporary, eventually […]
The Fed’s Impossible Choice, In Three Charts
The Fed’s Impossible Choice, In Three Charts Critics of “New Age” monetary policy have been predicting that central banks would eventually run out of ways to trick people into borrowing money. There are at least three reasons to wonder if that time has finally come: Wage inflation is accelerating Normally, towards the end of a […]
The Middle East Is Blowing Up
The Middle East Is Blowing Up Every day brings another scary headline from the Middle East — which makes it easy to treat them as background noise rather than a clear and present danger. But the latest batch is reminiscent of the Balkans circa 1914, which means it may be time to tune back in. […]
Unintended Consequences, Part 2: Easy Money = Overcapacity = Trade Wars
Unintended Consequences, Part 2: Easy Money = Overcapacity = Trade Wars It’s unclear what China was thinking when it was borrowed all those trillions to quadruple its capacity to make steel, cement and other basic industrial products. There’s no record of it checking in with the other countries that have such industries to see if […]
How Stupid Do You Have To Be To Let This Happen?
How Stupid Do You Have To Be To Let This Happen? Europe is the birthplace of Western civilization and the source of most of the trends and bodies of knowledge that define modernity. The average European speaks several languages versus sometimes less than one for Americans. They are, in short, a well-schooled people with vast […]
Why We’re Ungovernable, Part 13: The Unprotected Push Back
Why We’re Ungovernable, Part 13: The Unprotected Push Back Peggy Noonan, former Reagan administration speech writer and current Wall Street Journal pundit has, like most of her peers, been wondering what’s gotten into the unwashed masses lately that makes them such unpredictable voters. And she’s come up with a useful conclusion: The rise of Donald […]
