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Government Shutdown Reveals Nasty Truth About Americans’ Savings

Government Shutdown Reveals Nasty Truth About Americans’ Savings The temporarily-ended government shutdown didn’t have had a large effect on the U.S. economy, but it may have revealed something disturbing about the savings of 80% of Americans. They aren’t prepared if the economy get worse. MarketWatch published some recent findings in an op-ed (emphasis ours): Why do a few […]

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What Does it Mean, Saving Rate drops to 12-Year Low when 50% of Americans Don’t Have Savings?

What Does it Mean, Saving Rate drops to 12-Year Low when 50% of Americans Don’t Have Savings? Or what the averages are hiding. We will start with income and see what’s left over, and for whom. Personal income increased by 4.1% in December from a year earlier, the Bureau of Economic Analysis reported today. This […]

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“This Is 1987”: Some “Haunting Math” On Today’s GDP Number From David Rosenberg

“This Is 1987”: Some “Haunting Math” On Today’s GDP Number From David Rosenberg When discussing today’s unexpectedly weak Q4 GDP print, which came in at 2.6%, far below consensus and whisper estimates in the 3%+ range, and certainly both the Atlanta and NY Fed estimates, we pointed out the silver lining: personal spending and final […]

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According To Deutsche Bank, The “Worst Kind Of Recession” May Have Already Started

According To Deutsche Bank, The “Worst Kind Of Recession” May Have Already Started One week ago, Deutsche Bank’s Dominic Konstam unveiled, whether he likes it or not, what the next all too likely step will be as central bankers scramble to preserve order in a world in which monetary policy has all but lost effectiveness: “It […]

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This Will Be Largest Evaporation of Wealth in Modern History

This Will Be Largest Evaporation of Wealth in Modern History It’ll devastate China’s economy and reverberate around the world Only a handful of countries have a higher savings rate than the Chinese do. For a still relatively poor emerging country with GDP per capita about a fifth of that in the U.S., the Chinese get […]

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Fear The Smell Of (Monetary) Napalm In The Morning

Fear The Smell Of (Monetary) Napalm In The Morning Via ConvergEx’s Nick Colas, Warm up the choppers and put some Wagner on the loudspeakers – “Helicopter money” is a hot economic topic. That’s where central banks print money and either hand it to the government for things like infrastructure investment or just send it out […]

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Even The Average Joe Gets It: “They’re Winding Us All Up For A Minsky Moment”

Even The Average Joe Gets It: “They’re Winding Us All Up For A Minsky Moment” With global central bank policy in disarray following the Fed’s now admitted “policy error” of tightening just as the US and global economy are heading for recession, while the rest of the world desperate to cut to ever more negative […]

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Fed Admits Economy Can’t Function Without Bubbles

Fed Admits Economy Can’t Function Without Bubbles In short, the dot-com bust was the last chance for the Fed to pivot and liberate the American economy from the corrosive financialization it had fostered. A determined policy of higher interest rates and renunciation of the Greenspan Put would have paved the way for a return to current […]

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BBC News – Japan’s savings rate turns negative for first time

BBC News – Japan’s savings rate turns negative for first time. For the first time since records were collected in 1955, Japan’s population is drawing down its savings and the savings rate, calculated as savings divided by disposable income plus pension payments, was negative 1.3%. It’s a dramatic change from when the Japanese saved nearly […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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