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Will Skilled Hands-On Labor Finally Become More Valuable?
Will Skilled Hands-On Labor Finally Become More Valuable? The sands beneath what’s scarce and what’s over-abundant are shifting. On a recent visit to the welding shop where my niece’s husband works, I asked him if they had enough welders for their workload. His answer surprised me: “If you asked every welding shop in the country if […]
You Are Now Leaving FantasyLand: The Losses Will Be Taken By Somebody
You Are Now Leaving FantasyLand: The Losses Will Be Taken By Somebody As the inverted pyramid collapses, the effects will be non-linear. Round about late March, we entered a Financial FantasyLand in which all the sins and excesses of rampant financialization were going to be painlessly washed away. Mever mind the entire U.S. economy is an […]
No, This Is Not Another 1929, 1973, 1987, 2000, or 2008
No, This Is Not Another 1929, 1973, 1987, 2000, or 2008 Basing one’s decisions on analogs from the past is entering a fool’s paradise of folly. Like addicts who cannot control their cravings, financial analysts cannot stop themselves from seeking some analog situation in the past which will clarify the swirling chaos in their crystal […]
London Gold Pool Collapse 2020s (VIDEO)
London Gold Pool Collapse 2020s (VIDEO) To better understand where Gold is going, you have to know where it has been (gold price suppression history). Especially in the context of our last 50+ full fiat currency regime years as only for a small single-digit percentage in that time was gold allowed to do its freaking premiere money […]
Ben Hunt: Prepare To Get Burned
Ben Hunt: Prepare To Get Burned Society is pretending its actions don’t have consequences. It’s badly mistaken. History teaches us that there is no free lunch, reminds Dr. Ben Hunt, publisher of EpsilonTheory.com. And science informs us that even the most simple systems become nearly impossible to predict or control with 100% precision as time […]
The Decline and Fall of the European Union
The Decline and Fall of the European Union This exhaustion of the neocolonial-neofeudal model was inevitable, and as a result, so too is the decline and fall of the European integration/exploitation project. That a single currency, the euro, would fracture rather than unite Europe was understood long before the euro’s introduction as legal tender on […]
We Are All Hostages of Corporate Profits
We Are All Hostages of Corporate Profits We’re in the endgame of financialization and globalization, and it won’t be pretty for all the hostages of corporate profits. Though you won’t read about it in the mainstream corporate media, the nation is now hostage to outsized corporate profits. The economy and society at large are now […]
Our Economy Is Failing Our Society
Our Economy Is Failing Our Society If we want to extend the opportunities for positive social roles to everyone, we have to change the way money is created and distributed in our economy. One of the most unrecognized dynamics of our era is the structural dependence of our society on our economy. One set of […]
For Economic Truth Turn To Michael Hudson
For Economic Truth Turn To Michael Hudson Readers ask me how they can learn economics, what books to read, what university economics departments to trust. I receive so many requests that it is impossible to reply individually. Here is my answer. There is only one way to learn economics, and that is to read Michael […]
Were Trade Wars Inevitable?
Were Trade Wars Inevitable? Trade in which mobile capital is the comparative advantage is a system of Neocolonial exploitation of developing-world nations. Were trade wars inevitable? The answer is yes, due to the imbalances and distortions generated by financialization and central bank stimulus. Gordon Long and I peel the trade-war onion in a new video […]
It’s Time to Retire “Capitalism”
It’s Time to Retire “Capitalism” Our current socio-economic system is nothing but the application of force on the many to enforce the skims, scams and privileges of the self-serving few. I’ve placed the word capitalism in quotation marks to reflect the reality that this word now covers a wide spectrum of economic activities, very little […]
The Endgame of Financialization: Stealth Nationalization
The Endgame of Financialization: Stealth Nationalization This is the new model of nationalization: central banks control the valuation of private-sector assets without actually having to own them lock, stock and barrel. As you no doubt know, central banks don’t actually print money and toss it out of helicopters; they create a digital liability and use […]
The Financialization of America… and Its Discontents
The Financialization of America… and Its Discontents Labor’s share of the national income is in freefall as a direct result of the optimization of financialization. The Achilles Heel of our socio-economic system is the secular stagnation of earned income, i.e. wages and salaries. Stagnating wages undermine every aspect of our economy: consumption, credit, taxation and […]
Financialization and The Destruction of the Real Economy
Financialization and The Destruction of the Real Economy Strip an economy of capital, productive incentives, talent and yes, ethics, and what are we left with? An economy spiraling toward an inevitable collapse. Financialization is destroying the real economy, but few in power seem to notice or care. The reason why is painfully obvious: those in […]
The Real Reason Wages Have Stagnated: Our Economy is Optimized for Financialization
The Real Reason Wages Have Stagnated: Our Economy is Optimized for Financialization Labor’s share of the national income is in freefall as a direct result of the optimization of financialization. The Achilles Heel of our socio-economic system is the secular stagnation of earned income, i.e. wages and salaries. Stagnating wages undermine every aspect of our […]
