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America The Insolvent
Satansgoalie
America The Insolvent
Watching the world these days, I’m experiencing the same fury that rises up from my gut when the driver in the car ahead me is weaving drunkenly, endangering everyone on the road.
Fury is a normal and rational human response when threatened with unnecessary harm. Women who are groped (or worse) by a disgusting predator like Harvey Weinstein, pensioners whose funds are stolen by Wall Street shysters, everyone who is being fleeced by corporations in search of a few extra dollars this quarter — all have the right to be infuriated.
It’s been especially hard of late for those of us who are “reality”-based; who value data, fundamentals and historical context.
I earn my living by reading, analyzing and making sense of the world, and then working to help orient people’s actions to align with both the current reality and future probabilities. But that’s become pretty damn difficult in a world where the financial markets are rigged and the main news outlets are unwilling (unable?) to cover the real issues, preferring instead to focus on distractions that mainly serve to keep us isolated and divided.
The trajectory our global society is on will not end well, and that infuraties me. And the fact that most of the coming suffering is unnecessary if only we’d make better choices — that really pisses me off.
Here’s just a small smattering of the threats we’ve created for ourselves:
- $247 trillion of global debt, growing exponentially
- Off-budget liabilities well over a quadrillion dollars globally ($220+ trillion in the US alone)
- Massively underfunded pensions mathematically unable to meet their future obligations
- A coming peak in world oil supply somewhere between 2020-2030 (and around 2022 for the US)
- A global economy that requires perpetual growth, but can’t grow for much longer due to planetary resource constraints
…click on the above link to read the rest of the article…
Ray Dalio’s Shorting The Entire EU
Salvator Rosa Heroic battle 1652
Carney Reveals Europe’s Potential Achilles Heel in Brexit Talks
Carney explained why Europe’s financial sector is more at risk than the UK from a “hard” or “no-deal” Brexit. [..] When asked does the European Council “get it” in terms of potential shocks to financial stability, Carney diplomatically commented that “a learning process is underway.” Having sounded alarm bells about clearing in his last Mansion House speech, he noted “These costs of fragmenting clearing, particularly clearing of interest rate swaps, would be born principally by the European real economy and they are considerable.”
Calling into question the continuity of tens of thousands of derivative contracts , he stated that it was “pretty clear they will no longer be valid”, that this “could only be solved by both sides” and has been “underappreciated” by Europe . Carney had a snipe at Europe for its lack of preparation “We are prepared as we should be for the possibility of a hard exit without any transition…there has been much less of that done in the European Union.”
In Carneys view “It’s in the interest of the EU 27 to have a transition agreement. Also, in my judgement given the scale of the issues as they affect the EU 27, that there will ultimately be a transition agreement. There is a very limited amount of time between now and the end of March 2019 to transition large, complex institutions and activities…
…click on the above link to read the rest of the article…
