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Square Minus Zero
Square Minus Zero I intentionally start writing this mere minutes away from Fed chair Jay Powell’s latest comments. Intentionally, because the importance ascribed to those comments only means we have gotten so far removed from what capitalism and free markets are supposed to be about, that it’s pathetic. The comments mean something for rich socialists, […]
The Fed IS the Ugly Truth
The Fed IS the Ugly Truth Rembrandt van Rijn Man with a falcon on his wrist (possibly St. Bavo) 1661 This Fed thing just keeps going on, and it needs to stop. There is nothing in the discussion about the Federal Reserve these days that has any value other than it provides even more proof […]
Every Bubble Is In Search Of A Pin
Every Bubble Is In Search Of A Pin The ‘Everything Bubble’ has popped Now that the world’s central banking cartel is taking a long-overdue pause from printing money and handing it to the wealthy elite, the collection of asset price bubbles nested within the Everything Bubble are starting to burst. The cartel (especially the ECB […]
Ben Bernanke’s Waffle House
Ben Bernanke’s Waffle House Salvador Dali Spain 1936-38 Yes, it is hard to believe, but still happening: 10 years after Lehman the very same people who either directly caused the financial crisis of 2008 or made things much much worse in its aftermath, are not only ALL walking around freely and enjoying even better paid […]
US Gross National Debt Jumps $723 billion in 12 Weeks, Yellen “Very Worried about Sustainability of US Debt Trajectory”
US Gross National Debt Jumps $723 billion in 12 Weeks, Yellen “Very Worried about Sustainability of US Debt Trajectory” But only a few lost souls in Congress care. Even as lawmakers are trying to cobble together a tax-cut bill that would cut revenues by $1.5 trillion over ten years, the gross national debt has spiked […]
Globalization is Poverty
Globalization is Poverty Marc Riboud Zazou, painter of the EIffel Tower 1953Central bankers have never done more damage to the world economy than in the past 10 years. One may argue this is because they never had the power to do that. If their predecessors had had that power, who knows? Still, the global economy […]
Jackson Hole and the Appalachians
Jackson Hole and the Appalachians Henri Cartier-Bresson Trafalgar Square on the Day of the Coronation of George VI 1937 The Jackson Hole gathering of central bankers and other economics big shots is on again. They all still like themselves very much. Apart from a pesky inflation problem that none of them can get a grip […]
Central Banks ARE The Crisis
Central Banks ARE The Crisis Walter Langley Never morning wore to evening but some heart did break 1894If there’s one myth -and there are many- that we should invalidate in the cross-over world of politics and economics, it‘s that central banks have saved us from a financial crisis. It’s a carefully construed myth, but it’s […]
Gold: Still Misunderstood
Gold: Still Misunderstood Myths That Just Won’t Die Gold just had its best quarter in 30 years. Not surprisingly, gold bears are coming out of the woodwork en masse in the mainstream media and the analyst community (see e.g. this recent write-up by Mish on the Goldman Sachs analyst who has been screaming “short gold” since right before it started […]
Advantage U.S. In The Global Petroleum Showdown?
Advantage U.S. In The Global Petroleum Showdown? Is the crude stock data in the EIA’s Weekly Petroleum Status Report (Table 1 in the report) a useful tool for judging the prospects for the U.S. petroleum industry— and therefore for the global petroleum industry—or is it misleading? With few interruptions, U.S. crude stocks increased steadily during 2015 and […]
Steen Jakobsen: The End Of The Debt Cycle
Steen Jakobsen: The End Of The Debt Cycle As transformational as the fall of the Berlin Wall As we’ve been watching closely, something is wrong with the big banks. Their shares have lost 25-33% of their market value since the beginning of the year. What’s going on? The turmoil seems greatest in Europe, where bank […]
Are Asian Central Bankers Even Crazier Than Our Own?
Are Asian Central Bankers Even Crazier Than Our Own? That the world’s central bankers get a lot of things wrong, deliberately or not, and have done so for years now, is nothing new. But that they do things that result in the exact opposite of what they ostensibly aim for, and predictably so, perhaps is. […]
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 […]
Is This Debt’s Last Rattle?
Is This Debt’s Last Rattle? Crowd outside Wall Street Stock Exchange on BlackThursday Oct 24 1929 What we see happening today is why we called our news overview the “Debt Rattle” 8 years ago. The last gasps of a broken system ravished by the very much cancer-like progress of debt. Yes, it took longer than it […]
You Can Either Surf, or You Can Fight
You Can Either Surf, or You Can Fight Kilgore: Smell that? You smell that? Lance: What? Kilgore: Napalm, son. Nothing else in the world smells like that. – “Apocalypse Now” (1979) Hello, hello, hello, how low? [x3] – Nirvana, “Smells Like Teen Spirit” (1991) Outside the bus the smell of sulfur hit Bond with sickening force. It was a […]
