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05.24.22- What Could Go Right?
Charles Hugh Smith

Our economy is not resilient or antifragile, it's a fragile sand castle of debt and denial. 

What could go off the cliff that hasn't already gone off the cliff? Rip-roaring inflation, check.Hot war in Europe, check. Global food crisis, check. Semi-permanent supply-chain snarls, check. Geopolitical blackmail, check. Semi-permanent energy scarcities / supply issues, check. Geopolitical tensions through the roof, check. Public discontent, check. Extreme political partisanship, check. Hard-landing recession already baked in, check. Shrinking corporate profits, check. Extremes of weather, check. Investor sentiment is in free-fall, check. Confidence in the political and financial systems' ability to navigate all of the above is tumbling into the abyss, check. Read More

05.23.22- “The Year of Breakdown”
Brian Maher

The stairs up and the elevator down. Today the stock market boarded the elevator… again…

The Dow Jones careened another 1,164 stomach-wrenched points today — the fifth collapse of at least 800 points this year — and the greatest single-day plunge since 2020.

Both the S&P and Nasdaq were crowded into the identical box. Both endured the identical harrows.

The S&P plummeted 165 points; the Nasdaq 566.

What accounts for today’s tumults? The consensus answer is inflation. Read More

05.21.22- Is Biden's 'Success' Our Mess?
Victor Davis Hanson

If an administration deliberately wished to cause havoc on the border, to ensure fuel was nearly unaffordable, to create a crime wave, to spark 1970s hyperinflation, and to rekindle racial tensions, what would it have done differently than what Pesident Joe Biden has done?

So is Biden malicious, incompetent, or a wannabe left-wing ideologue? Read More

05.20.22- The end of fantasy finance
Bryce McBride

A collapsing dollar would also spark a global banking crisis and bring our era of financialization to an end, and such a possibility is perhaps one we should welcome…

Over the past 40 years, finance has come to dominate economies around the world, and the process of financialization has made many people rich. Every homeowner, every shareholder, and especially every cryptocurrency ‘hodler’ has benefited enormously from the fountain of fiat money which has flowed from our banking system. Read More

05.19.22- Nowhere to Hide
Jim Rickards

Investors don’t need to be told about the recent stock market crashes. The Dow Jones index is down 12.5% since early January. The S&P 500 is down 16.1% in the same period. The Nasdaq Composite is down an even more spectacular 26.5% this year. It lost more ground today.

This puts the Nasdaq solidly into a bear market (down 20% or more from an interim peak) while the Dow and S&P 500 are both in correction territory (down 10% or more from an interim peak). Read More

05.18.22- Stocks Puke As TINA Unwind Accelerates
Tyler Durden

Remember the rally yesterday and how great that felt... "is the bottom in?" etc... yadadadada... Well... it's gone...

US equity futures are tanking after the cash markets open, taking out yesterday's lows...Read More

05.17.22- Everything We Know About the End of the “Everything Bubble”
Michael Every

Everything Everywhere All At Once

Today’s title, referencing a soon-to-be-released movie that looks a superior version of a multiverse of madness than the one starring Dr Strange, nicely sums up our current global situation. Everything is happening everywhere all at once – yet key markets are failing to capture it or aren’t explaining the second or third order implications where they are. Read More

05.16.22- Everything We Know About the End of the “Everything Bubble”
Peter Reagan

If you pay any attention to financial news (or if you’re a regular reader of my columns), you’re probably familiar with the term “bubble.” We’ve seen the 2008 housing bubble, the dot-com stock bubble, some are referring to the recent collapse in bonds as the end of a bond bubble and so on.

These are all variations on a theme as old as markets, referred to as a speculative bubble. Economics Online defines this type of bubble as: Read More

05.14.22- That Giant Sound You Just Heard Was the Housing Market Starting to Crack
Michael Snyder

It is happening again.  More than a decade ago, we witnessed an absolutely unprecedented “housing bubble” in the United States followed by a horrific crash that resulted in millions of Americans losing their homes and a financial catastrophe on Wall Street that we still talk about today.  But instead of learning our lessons from that disaster, we are repeating history instead.  The “housing bubble” that we are currently experiencing is far larger than the one that burst in 2008, and everyone knew that if mortgage rates rose high enough it could cause the bubble to burst.  Unfortunately, that is precisely what is taking place.  The average 30 year fixed mortgage rate was sitting at 2.67 percent in December 2020, and now it has risen to 5.30 percent. Read More

05.13.22- The most difficult thing in economics…is to explain rising prices
Alasdair Macleod

The role of money For the first time in decades inflation fills the headlines. The popular press is full of tales of hardship for the disadvantaged in society. Higher energy costs, higher food costs, rising taxes — they all serve to inflict hardship. In opinion polls politicians are facing the wrath of those who suffer. Financial commentators have not much of a grasp of the situation, reacting religiously to government statistics and many concluding that the condition is stagflation — a condition whereby the economy stagnates while prices rise. Read More

05.12.22- Americans Are Using Plastic To Make Ends Meet As Prices Continue To Rise
Peter Schiff

Americans are feeling the pinch of inflation. Wages are up but consumers are worse off. Average hourly earnings have risen by 5.5% over the last year. But factoring in rising costs, real earnings are down 2.6%. So, how are Americans making ends meet?

They’re charging it. Read More

05.11.22- Five Warning Signs the End of Dollar Hegemony Is Near… Here’s What Happens Next
Nick Giambruno

It’s no secret that China and Russia have been stashing away as much gold as possible for many years.

China is the world’s largest producer and buyer of gold. Russia is number two. Most of that gold finds its way into the Russian and Chinese governments’ treasuries. Read More

05.10.22- Yes, Rates Are STILL Going Higher
Karl Denninger 

Don't be the fool.

We've spent the last nearly forty yearsas you can see here, in a generally declining-rate environment.

Let me explain what this means for corporate America.

I borrow $1 million at 13% interest.  This costs me $130,000 a year to keep "outstanding."  I produce nothing for the next five years and pay the coupon with the $130,000 each year.  I've now got $350,000 in cash left (the rest I paid in interest) and I'm very bankrupt since I can't pay the million back -- right? Read More

05.09.22- And Now, for Something Entirely Different: National Self-Perception
Jeff Thomas

“This above all: to thine own self be true.”

Bill Shakespeare had a talent for phrasing basic truths well, and this quote is no exception. (Even if you lie to others, don’t lie to yourself, or you’re in real trouble.)

Much has been said about the American self-image, going back to its inception as an upstart nation that imagined it could succeed as a republic, as Athens had failed to do. Read More

05.07.22- Buckle Up For A Crashing Economy And More Inflation
Michael Maharrey

Jerome Powell began hinting that inflation might be a problem last August. In November, Powell retired the word “transitory.” But here we are in May and the Federal Reserve still hasn’t done anything substantive to address the inflation problem.

And now it may be too late. It’s probably time to buckle up for more inflation – and perhaps a crashing economy. Read More

05.06.22- The Great Crash Of 2022... What Happens Next?
Bill Blain

“That which does not kill us, makes us stronger….”

Yesterday’s market meltdown was heralded as a “capitulation trade”, but who knows? What we do know is there an awful lot to worry about, and the conditions for the BIG ONE have been building for decades. Time to re-read The Great Crash, 1929.

There is nothing like a 6.30 am swim against the tide on cold, grey morning in muddy near-freezing water to remind you of why we spend so much money on mattresses and warm snuggly duvets. Of course, a swim should have been a wonderful moment to contemplate what the papers are calling the “Capitulation Trade”. Read More

05.05.22- Collapse Is Happening Before Our Eyes
Jim Rickards

Analysts and authors, myself included, have been warning about the collapse of the dollar as the global reserve currency for years. I described this prospect in my first book, Currency Wars (2011), and in several other books in the years since.

This process can take many years. For example, the decline of sterling as the leading global reserve currency played out over 30 years from 1914 (the beginning of World War I) to 1944 (the Bretton Woods conference). Read More

05.04.22- And Now, for Something Entirely Different: “Disinformation” is Just a Boot
in Your Face

James Howard Kunstler

Since Elon Musk pounced on Twitter, are you not amazed to see just how dedicated to the suppression of speech the Left is? Censorship is the Left’s very spark-of-life. Everything they stand for is so false and lawless that truth magnetically repels them. Now, this may surprise you, but truth and reality are joined at the hip, so when you work hard to suppress one, you are also stomping the face of the other. “Disinformation” just means anything that the Left doesn’t want you to say out loud. Read More

05.03.22- We're In "Uncharted Territory" - Paul Tudor Jones "Can't Think Of A Worse Environment" For Bond & Stock Investors
Tyler Durden

"Clearly you don’t want to own bonds and stocks."

Those were the ominous words uttered by billionaire hedge fund manager Paul Tudor Jones (PTJ) this morning during an extensive interview on CNBC's 'Squawk Box'. With The Fed expected to hike by 50bps tomorrow (and the short-term interest-rate market starting to price in 75bps for June) and 10 more hikes for the full-year... as financial conditions tighten and the economy contracts, CNBC reports that the founder and chief investment officer of Tudor Investment Corp. believes that we are now in “uncharted territory” as the central bank had only eased monetary policy during past economic slowdowns and financial crises. Read More

05.02.22- And Now, for Something Entirely Different: “This is This”
James Howard Kunstler

It’s one thing to lose your dignity as citizens, and another to just lose your country altogether….

“This is this,” Di Niro’s character “Michael” famously told Cazale’s “Stan” in The Deer Hunter, explaining the metaphysics of the bullet in his hand, and pretty much everyone watching the movie got the drift of that cryptic utterance. Likewise, Elon Musk’s character “Elon Musk” explained to America’s Maoist managerial legions: “Free speech is free speech” — as if, a week after Twitter’s surrender to Elon, there was some part of the formulation that the Left didn’t understand. (Apparently, all of it.) Read More

04.30.22- US Economy Crashes Headlong
into Recession!

David Haggith

Is it too extreme to say an annualized GDP growth number of minus 1.4% this quarter puts us in recession in this quarter, and is it too extreme to call that a “crash?” No, it is not in the leastextreme, and I’ll tell you why, even though the standard definition of a recession is two consecutive quarters of negative GDP change.

Just a few days ago, Goldman Sachs was regarded as becoming the most bearish bank out there by forecasting - rather daintily now I think - we have a 35% chance of eventually seeing a recession in about a year! Deutsche Bank - the second-most bearish bank in the US right now - showed great boldness by prognosticating the US could go into recession in late 2023 - well over a year away! Read More

04.29.22- The Media Is Still Trying To Convince You The Economy Is Booming
Laurel Duggan

Mainstream media outlets are pushing the narrative that the economy is running smoothly under President Joe Biden, mimicking his Thursday morning statement that the economy is still resilient.

The U.S. economy contracted 1.4% in the first quarter of 2021, the first time the economy has shrunk since the beginning of the pandemic. Media outlets padded their stories about the economic nosedive with reassurances about strong consumer spending and continued investment. Read More

04.28.22- Mortgage Volume Gets Crushed by Spiking Interest Rates: What it Means for Future Home Sales and Consumer Spending
Wolf Richter

The boom is over. And there are broader effects.

Spiking mortgage rates multiply the effects of exploding home prices on mortgage payments, and it has taken layer after layer of homebuyers out of the market for the past four months. And we can see that.

Mortgage applications to purchase a home fell further this week and were down 17% from a year ago, hitting the lowest level since May 2020, according to the Mortgage Bankers Association’s weekly Purchase Index today. The index is down over 30% from peak-demand in late 2020 and early 2021, which was then followed by the historic price spikes last year. Read More

04.27.22- And Now, for Something Entirely Different: Shocks to the System
James Howard Kunstler

None of these shocks can be postponed anymore. The Left’s war on America’s psyche is over….

There is something about being detached from reality that makes it hard to go about your everyday business. In the quaint asylums of yore, it was understood that a few shocks to the system could bring lunatics out of a fugue state of derangement - a cold water plunge… an insulin hot-shot to induce convulsions… some electrodes placed artfully on select regions of the brain…. It looks like America is about to be treated to some shocks. Will they break the mass formation psychosis that styles itself unironically as “progressive politics?” Read More

04.26.22- Now Alphabet Breaks, Microsoft too, Meta Already in Free-Fall: One by one, the Giant Stocks that Held Up the Market Let Go
Wolf Richter

Ugly Day. But I’m more and more amazed how Microsoft’s CEO picked the very peak to dump half his shares last November.

The Nasdaq fell 2.6% today and is now again down over 20% from its peak last November. A lot of stocks got hammered today. But it was the giants that stole the spotlight. They’re now letting go. Read More

04.25.22- The economic consequences of the war in Ukraine
Bill Blain

“The Ravenous Bugblatter Beast is so mind-boggling stupid it thinks if you can’t see it, it can’t see you. Therefore, the best defence is to wrap a towel around your head.”

This morning: The Ukraine War has catalysed a tsunami of negative economic events around the global economy – and markets are remaining pretty much blind to the long-term consequences. Read More

04.23.22- Weekend Rant:
Daddies in Mommie-land

James Howard Kunstler

America is a drama queen, like the Queen Bee in one of those Real Housewives shows on cable TV, whose entire purpose in life is creating colorful conflicts within her circle of sisters….

Welcome to the season of everything losing ground, at least for Western Civ. Sore-beset with idiots and scoundrels running things, the West stumbles backwards into neo-medieval darkness and superstition, hurling garlic bombs of objurgation against the supposedly wicked Putin along the way. Read More

04.22.22- Everyone Has A Plan Until They Get Punched In The Face.... And Everyone Is Being Punched In The Face
Michael Every

Play stupid games, win stupid prizes

My generation we grew up being told that ‘sticks and stones may break my bones, but words can never hurt me’. Western culture of course changes with each generation: now free speech is considered violence by some. There’s a whole thing happening at Twitter in particular about it. Expect it to get louder now actual money might be on the table. And do we get free speech back, or another billionaire plaything that dies in darkness, like CNN+ just did after three weeks and $100m down the drain? Read More

04.21.22- Food riots and “inflation lockdowns” will endure
Doug Casey

Food prices are soaring, riots are roaring. What is driving the inflation? How long is this going to last? And how much worse will it get? What is the likelihood riots spread to the US and other developed economies?

International Man: Recently, we’ve seen people riot over rising prices-especially food prices-in Sri Lanka, Peru, and other countries.

What is going on here? Read More

04.20.22- Gold, Inflation And Famine
The Equity Management Academy

Fundamentals

The war in Ukraine continues to put stress on global food and commodity supply chains. The mainstream media does not appear to be giving this issue enough  attention. ZeroHedge published a report highlighting that Europe depends on Russia, Belarus, and Ukraine for energy, palladium, nickel, grains, pig iron, certain types of steel, and many other commodities. Energy, especially, is a vulnerability as Russia now is demanding payment in rubles. Europe cannot shift to other suppliers or energy in the short term. Pig iron and other iron and steel products are also being impacted heavily. The EU is also facing import issues with goods from third countries that rely on imports of raw materials from the war zone. Read More

04.19.22- We may be entering the ‘down phase’ of the economic cycle
Simon Black

On June 29, 1914, Emperor Franz Joseph of Austria-Hungary sat quietly while his ‘experts’ debated what to do next.

The Emperor’s son and heir, Archduke Franz Ferdinand, had just been assassinated the previous morning in Sarajevo. And there was still much they didn’t know. Some of the Emperor’s ministers suggested they demand a criminal investigation into the assassination in order to gather all the facts. Read More

04.18.22- Take Your Money Off The Grid
William Baldwin

In a time of geopolitical chaos and inflation, Simon Mikhailovich's extreme wealth preservation strategies don't seem so paranoid.

Cyberattacks. Inflation. Pandemic. Is your money safe? 

The question is asked by Simon Mikhailovich, a Russian émigré and entrepreneur who is in the business of selling a certain kind of safety. His New York City–based Bullion Reserve has wealthy families as clients. On their behalf his firm buys gold bricks from refineries, has them picked up by Loomis armored trucks and delivers them to guarded warehouses located on two continents. Read More

04.16.22- The Next Big Event Will Be Asset DEFLATION!
Bill Holter

Deflation?  Have I lost my mind?  Everyone knows inflation is driving prices higher and harder than anything seen since the 1970’s, how is deflation even a relevant conversation?

We have been on the record for many years, that we would experience inflation AND deflation at the same time.  Two years ago, anyone talking about an inflationary spiral was laughed at and considered out of touch.  Fast forward to today, and it is extremely hard to find anyone who doesn’t believe inflation is now embedded in the system. Read More

04.15.22- You Can’t Blame the Fed
Jim Rickards

What is money? Everyone thinks they know what money is, but the Fed doesn’t even know what money is. They have three or more different definitions of money (M0, M1 and M2, etc.).

For example, money includes cash and checking deposits. But then there’s “near money,” which includes such things as savings deposits and money market mutual funds. They can be converted into cash or checking deposits, so they’re considered near money. Read More

04.14.22- "Are We Living In A Dream World?"
David Robertson

The first quarter was a turbulent one. Persistently high inflation prodded the Fed to get much more hawkish on monetary policy and the invasion of Ukraine by Russia threw commodities markets into turmoil.

It was also a punishing quarter for many investors. Stocks swooned and rebounded but still ended down for the quarter. Bonds were brutalized with one of the worst quarters ever. As such, it was also one of the few occasions for which balanced fund investors were not cushioned from the blows. The big question now is, was this just a blip or was it the beginning of a new and more hostile investment landscape? Read More

04.13.22- And Now, for Something Entirely Different: Covid Crimes Exposed: The FDA, NIH, CDC and the WHO Are Criminal Organizations That Must Be Indicted, Tried, and Executed for Massive Crimes Against Humanity
Paul Craig Roberts

That is the conclusion from “The Vaccine Death Report” prepared by David John Sorensen and Dr. Vladimir Zelenko, available here.

You should read the entire report and understand how cruelly and intentionally you were deceived and to comprehend that the deaths from the Covid “vaccine” are likely far from over. Read More

04.12.22- Doug Casey's Latest Frontier Investment
Doug Casey

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04.11.22- Russia's Invasion of Ukraine Is Creating a Financial World War
Tho Bishop

Over a month after Russia invaded Ukraine, the military conflict has remained a regional conflict. While Russia has been able to fortify its claim in eastern Ukraine and has made advances in the south, recent counteroffenses by the Ukrainians have pushed Vladimir Putin’s military away from Kyiv. Meanwhile, allegations of war crimes committed by Russian forces during the conflict have given Ukrainian president Volodymyr Zelenskyy new ammo in his campaign to increase pressure from the international community against the Russian Federation. Read More

04.09.22- Sit Back & Watch Europe
Commit Suicide

Pepe Escobar

If the US goal is to crush Russia's economy with sanctions and isolation, why is Europe in an economic free fall instead?

The stunning spectacle of the EU committing slow motion hara-kiri is something for the ages... Like a cheap Kurosawa remake the movie is actually about the Empire of Lies-detonated demolition of the EU, complete with subsequent rerouting of some key Russian commodities exports to the US at the expense of the Europeans.  Read More

04.08.22- Is this the end of the dollar as the world’s reserve currency?
Prabir Purkayastha

Do the Ukraine war and the action of the US, EU and UK spell the end of the dollar as the world’s reserve currency? Even with the peace talks recently held in Turkey or the proposed 15-point peace plan, as the Financial Times had reported earlier, the fallout for the dollar still remains. For the first time, Russia, a major nuclear power and economy, was treated as a vassal state, with the US, EU and UK seizing its $300-billion foreign exchange reserves. Read More

04.07.22- Democrats' Approach To Rising Gas Prices Reveals Their Economic Illiteracy
Kat Dwyer

Inflation is hitting voters where it hurts the most, forcing policymakers to pay attention-and revealing the economic illiteracy of the Left. 

Rather than acknowledging that reckless fiscal and monetary policy are toblame, Democrats have turned to their favorite boogeyman to explain the sharp increase in prices: corporate greed. From “big poultry” to “big oil,” Democrats are eager to scapegoat their harmful economic policies. Read More

04.06.22- The Coming Global Financial Revolution: Russia Is Following the American Playbook
Ellen Brown

No country has successfully challenged the U.S. dollar’s global hegemony-until now. How did this happen and what will it mean?

Foreign critics have long chafed at the “exorbitant privilege” of the U.S. dollar as global reserve currency. The U.S. can issue this currency backed by nothing but the “full faith and credit of the United States.” Foreign governments, needing dollars, not only accept them in trade but buy U.S. securities with them, effectively funding the U.S. government and its foreign wars. But no government has been powerful enough to break that arrangement – until now. How did that happen and what will it mean for the U.S. and global economies? Read More

04.05.22- And Now, for Someting Entirely Different:- Liberals "Terrified"... Musk's Big Stake In Twitter "Is Not At All Funny"
Tyler Durden

Elon Musk's 9.2% stake in Twitter and his newly announced board seat has sent the left into an anti-free-speech tailspin.

Musk has been an outspoken proponent of free speech - which he says that failing to adhere to "fundamentally undermines democracy." Read More

04.04.22-Why Q1 Was So Strange
Nicholas Colas

Q1 2022 saw the first sharp break lower for US/global equities since the March 2020 pandemic lows, so what happened and what does it say about current and near-future market narratives? Three points to answer that question:

First, here are price returns from the end of 2021 to the early-mid March 2022 lows for select global and US equity market indices: Read More

04.02.22- Death of the dollar begins TODAY; the final chapter of a debt-based empire
Mike Adams

“If you want gas, find roubles.” Those are the words of Vyacheslav Volodin, the speaker of the lower house of the Russian parliament, as reported by the BBC this week. The story follows up with a bombshell that has been scarcely reported:

The Kremlin also said Russia could start demanding payment in roubles for other commodities such as fertiliser, grain, metals and timber.

This means that Russia isn’t merely demanding rubles for gas and oil exports; it’s also going to demand rubles for commodities. Read More

04.01.22- Why Is the Ruble Soaring?
Brian Maher

President Joseph Biden, March 26:

“As a result of our unprecedented sanctions, the ruble was almost immediately reduced to rubble.”

Business Standard, March 29:

The ruble has recouped most of its losses and become the top-performing currency globally… The ruble appreciated to 83 to the dollar intraday on Tuesday against a record low of 139 on March 7. Thanks to the recent rally, the ruble is only about 10% lower than what it was before the Russian invasion of Ukraine on Feb. 24. Read More

03.31.22- Global Chaos, Soaring Commodity Prices, and What Happens Next
Doug Casey

International Man: Commodity prices go through cycles. Where are we in this cycle, and what do you think comes next?

Doug Casey: Commodities, historically, are the worst investment in the world. The price trend of commodities for the last 5,000 years has been down. In neolithic times, a caveman who found a piece of iron meteorite was the equivalent of a billionaire. Read More

03.30.22- "Put On Your Seatbelts": BlackRock CEO Warns Over 'Scarcity Inflation'
Tyler Durden

Millennials (born between 1981 to 1996) have spent much of their lives living in an economic utopia where goods are cheap and plentiful. Unlike the generations before, these youngsters have yet to experience rapid inflation and shortages until now. 

On Tuesday, BlackRock Inc. President Rob Kapito told an audience in Austin, Texas, hosted by the Texas Independent Producers and Royalty Owners Association, that an entire younger generation is quickly finding out what it means to suffer from shortages, according to BloombergRead More

03.29.22- Another Stunning OCC Report
Ted Butler

The new Office of the Comptroller of the Currency’s Quarterly Derivatives Report was just released for positions held as of Dec 31, 2021. The report covers Over-The-Counter derivatives positions, including precious metals derivatives held by US banks, meaning that the listed futures and options contracts on the COMEX are not included in this report. Unlike the COT report, which never identifies traders by name, the OCC report does name the top four US banks in each category (where applicable). The OCC report for precious metals only includes positions in silver, platinum and palladium. Read More

03.28.22- Unbeknown To Most, A Financial Revolution Is Coming That Threatens To Change Everything (And Not For The Better)
Nick Corbishley

Given how much is at stake, this financial revolution is among the most important questions today’s societies could possibly grapple with. It should be under discussion in every parliament of every land, and every dinner table in every country in the world.

Around 90 central banks are either in the process of experimenting with or are already piloting central bank digital currencies (CBDCs). In a world of just over 190 countries that is a large contingent, but given they include the European Central Bank (ECB) which alone represents 19 Euro Area economies, the actual number of economies involved is well over 100. They include all G20 economies and together represent more than 90% of global GDP.Read More

03.26.22- Designing a new currency is impractical
 Alasdair Macleod

Rising interest rates threaten to destabilise both financial asset values and the fiat currencies in which they are priced. This outcome is feared by the chattering classes who increasingly speculate about currency resets. 

So far, we have seen cryptocurrencies such as bitcoin, plans for the introduction of central bank digital currencies, plans to de-dollarise Asian trade, and even El Salvador adopting bitcoin as legal tender. But are these resets valid? Read More

03.25.22- Ruble Surges After Putin Ditches Dollars and Euros for Russian Oil and Gas
Patrick Henningsen

Earlier this week, 21WIRE highlighted the canny move by Russia to begin trading oil with India under a brand new ruppie-ruble mechanism – as a means of bypassing the global sanctions wall erected by the West in its economic war on Russia, and potentially anyone else who dares to defy the global diktats of the Washington-London-Brussels Axis. Read More

03.24.22- What A Mess!
Peter Tchir

I’ve been more confused than usual by markets since late last week. I am struggling to figure out the “tell” in what seems like very confusing, messy and even unusual markets. On the war front and longer term ramifications of sanctionsWho Needs Who? Sums it up well.  In the meantime, let’s just run through a few things I find most confusing. Read More

03.22.22- And Now, for Something Entirely Different: The Takeover of America's
Legal System

Aaron Sibarium

In 2017, the super lawyer David Boies was at a corporate retreat at the Ritz-Carlton in Key Biscayne, Florida, hosted by his law firm, Boies, Schiller and Flexner. Boies was a liberal legend: He had represented Al Gore in Bush v. Gore, and, in 2013, successfully defended gay marriage in California, in Hollingsworth v. Perry, paving the way for the landmark Supreme Court ruling two years later.  

On the last day of the retreat, Boies gave a talk in the hotel ballroom to 100 or so attorneys, according to a lawyer who was present at the event. Read More

03.22.22- And Now, for Something Entirely Different: The Takeover of America's
Legal System

Aaron Sibarium

In 2017, the super lawyer David Boies was at a corporate retreat at the Ritz-Carlton in Key Biscayne, Florida, hosted by his law firm, Boies, Schiller and Flexner. Boies was a liberal legend: He had represented Al Gore in Bush v. Gore, and, in 2013, successfully defended gay marriage in California, in Hollingsworth v. Perry, paving the way for the landmark Supreme Court ruling two years later.  

On the last day of the retreat, Boies gave a talk in the hotel ballroom to 100 or so attorneys, according to a lawyer who was present at the event. Read More

03.21.22- Why Oil Might Spike
- And Stocks Tank - From Here

John Rubino

A thread just appeared on Twitter in which a couple of people who seem to understand the commodity trading business explain the nightmare that now confronts those traders. Here’s an excerpt, with a few technical terms explained for clarity:

Commodity trading houses have had to manage liquidity at current price by re-entering the market and upsizing their facilities. They are obviously under pressure and the bond market is repricing. Here you have the CDS [credit default swap, a form of insurance against bond default] of Louis Dreyfus, a trading house active in the agri space. Friends tell me Blackstone already walked out on [global commodities trader Trafigura Group]. Read More

03.19.22- With All Eyes on Russia, Don’t Forget the United States’ Most Powerful Weapon – SWAP Lines
Marin Katusa

SWAP Lines are a cunning strategy. And the current global shift in geopolitics will lead to the first major implementation of SWAP Lines due to war, as opposed to a global financial crisis.

Warren Buffett once famously stated that derivatives are financial weapons of mass destruction. Read More

03.18.22- Epocalypse Revisited: The Recurring Nightmare of Economic Collapse
David Haggith

In 2015, I wrote about The Great Recession 2.0 that was coming upon us. I called it “The Epocalypse” to signify an economic apocalypse that would be epic in scale and that would begin a new epoch on earth - a turbulent time of global economic collapse. It described my overarching vision of our journey ahead. Read More

03.17.22- Rabo: Markets Are Ignoring Everything Actually Happening To Focus On What They Think Will Happen
Michael Every

Looking forward with fingers crossed

Another wild, exhausting day of headlines and trading, but one simple summary: markets are ignoring everything actually happening to focus on what they think is going to happen, which involves keeping their fingers crossed when others may be doing the same in a different way. Read More

03.16.22- The Last Straw
James Rickards

The U.S. and its allies in the EU and others around the world have imposed the harshest economic sanctions on Russia that have ever been used. In the past, even nations directly at war with each other would continue to pay the debts they owed each other.

Since this war is in Ukraine, let’s look at another war that took place in present Ukraine from 1854–56, during the Crimean War. Read More

03.15.22- And Now, for Something Entirely Different: A Miracle in Ukraine
Brian Maher

Today we are dumbstruck. We are awestruck and thunderstruck…

That is because we have witnessed a miracle of God. That is correct. Your editor has witnessed a miracle of God.

We now know, despite all contrary evidence, that the living God is with us - even in this godless age.

For what we have observed is no dime-store or magician’s miracle - but an authentic miracle - true as gold, true as the stars. Read More

03.14.22- The Great Depression II
Doug Casey

Whenever a movie has been a huge hit, the film industry tries to follow it up by doing a sequel. The sequel is almost invariably far more costly, as there’s the anticipation by those who create it that it will be an even bigger blockbuster than the original.

The Great Depression of the 1930’s is seen by most people to be the be-all and end-all of economic catastrophes and there’s good reason for that. Although the economic cycle has always existed, the period leading up to October 1929 was unusual, as those in the financial sector had become unusually creative.  Read More

03.12.22- The End of Fiat Hoving Into View…
 Alasdair MacLeod 

Tragic though the situation in Ukraine has become, the real war which started out as financial in character some time ago has now become both financial and about commodities. Putin made a huge mistake invading Ukraine but the West’s reaction by seeking to isolate Russia and its commodity exports from the global marketplace is an even greater one. Read More

03.11.22- And Now, for Something Entirely Different: The Last Americans To Believe in the Voluntary Union of the States
Thomas DiLorenzo

“If there is to be a separation [i.e., secession of New England], then God bless them [the two countries] both, & keep them in the union if it be for their good, but separate them if it be better.”

  • Thomas Jefferson, Letter to John C. Breckenridge, Aug. 12, 1803, regarding the New England secession movement

“No state . .  can lawfully get out of the union . . . acts against the authority of the United States are insurrectionary . . .”

  • Abraham Lincoln, First Inaugural Address  Read More

03.10.22- What If It Breaks?
Charles Hugh Smith

Making your entire economy a Landfill Economydependent on the fantasy of infinite replacements and substitutions is the height of hubris and folly.

Very few people ask: what if it breaks? It's a question we can ask of a great many things: touchscreens, motherboards, tools, vehicles, supply chains and entire systems: what if it breaks? Read More

03.09.22- The Chaos Trade
Doug Casey

View Video

03.08.22- Commodity Catastrophe! The Ukraine War Has Thrown Global Markets Into A State Of Complete And Utter Chaos
Michael Snyder

There are some people out there that thought that global financial markets would be largely unaffected by the war in Ukraine.  Those people were wrong.  This week, investors have received a very rude wake up call.  Stock prices are plunging, commodity prices are going completely nuts, and a very thick cloud of fear has descended upon Wall Street.  The fact that this war has permanently changed economic and financial conditions is starting to sink in, and it is likely that the level of panic will continue to rise in the days ahead. Read More

03.07.22- And Now, for Something Entirely Different: Will There Be
a 2024 Presidential Election
?
Jim Quinn

“All tyrannies rule through fraud and force, but once the fraud is exposed, they must rely exclusively on force.” ― George Orwell

“Every war when it comes, or before it comes, is represented not as a war but as an act of self-defense against a homicidal maniac.” ― George Orwell Read More

03.05.22- And Now, for Something Entirely Different: Is Putin poised to expose the globalist’s Covid genocide scheme?!
State of the Nation

An Urgent Open Letter to President Putin

Dear President Putin:

In view of the completely justifiable denazification of Ukraine in order to resolve Russia’s exceedingly serious security concerns, the US-UK-EU-NATO warmongers are now hellbent on attacking Moscow and subjugating the entire Russian Federation as you well know. Read More

03.04.22- Canada Reveals
the “End Game” for Money

Mark Nestmann

For most of human history, “money” was a physical commodity. Ancient peoples traded gold, silver, beads – even giant stone disks.

When money was scarce, people bartered. For instance, at the end of World War II, cash was scarce in occupied Germany. Ordinary Germans adapted by exchanging cigarettes for food and other necessities. Read More

03.03.22- This Is Economic War - Central Banks Are The West's Paladins
Bill Blain

“Alas, that these evil days should be mine...

Trying to strip out noise from facts has never been so complex! It’s time to resort to the rarest of all commodities; Common Sense – to work out how this will likely play out. There will be clear winners – and one massive loser – and significant economic pain before we get there. Read More

03.02.22- Swiss Safety in a World of Market Bubbles, Distorted Currencies
and Global Saber Rattling

Matthew Piepenburg

In this brief interview with Investor Talk’s Jan Kneist, Matterhorn Asset Management principal, Matthew Piepenburg, addresses tensions in Ukraine, central bank-driven bubble sustainability, the critical role of interest rate movements, market mean reversions, historical debt levels, cornered central banks and finally the unique advantages of storing gold in Switzerland. Read More

03.01.22- Don’t Look Now
James Howard Kunstler

Ukraine is a manageable localized problem in a distant part of the world and Russia is going to manage it. The American crisis of confidence in its own operating system is something else.

Did “Joe Biden’s” handlers actually want to start World War Three? They are the same posse who contrived the Russian Collusion hysteria of 2016-19, then launched Covid-19 - and the even more deadly mass “vaccination” response to it - and have now successfully goaded Russia into cleaning up the international hub of grift and mischief known as Ukraine. Read More

02.28.22- Collapse of the Real-Estate “Tech” IPO & SPAC Stocks: House Flippers Opendoor & Redfin Come Unglued, after Zillow
Wolf Richter

“Tech” real-estate broker Compass and “tech” renters-insurance-seller Lemonade collapsed too. All eyes on “tech” mortgage-broker Better.com’s delayed SPAC deal. Read More

02.26.22- Weekend Rant: More evidence Covid was tinkered with in a lab? Now scientists find virus contains tiny chunk of DNA that matches sequence patented by Moderna THREE YEARS before pandemic began
Connor Boyd

Genetic match discovered in Covid’s unique furin cleavage site on spike protein

Matched genetic sequence patented by Moderna for cancer research purposes

Researchers say one in 3trillion chance Covid developed the code naturally Read More

02.25.22- And Now, for Something Entirely Different: Debunking the Government’s ‘Pandemic Made Us Do It’ Lie
Ben Bartee

Men are only clever at shifting blame from their own shoulders to those of others.”

-Titus Livius (59 BC–17 AD)

Children instinctively resort to blame-shifting tactics to offset culpability for bad behavior onto an external entity“I had to pelt rocks at traffic! Everyone was doing it! I had no choice! The other kids would’ve made fun of me if I didn’t!”: Read More

02.24.22- The Dollar: A Victim of Its Own Success
Jim Rickards

America’s most powerful weapon of war does not shoot, fly or explode. It’s not a submarine, plane, tank or laser. America’s most powerful strategic weapon today is the dollar.

The U.S. uses the dollar strategically to reward friends and punish enemies. The use of the dollar as a weapon is not limited to trade wars and currency wars, although the dollar is used tactically in those disputes. The dollar is much more powerful than that. Read More

02.23.22- And Now, for Something Entirely Different: “Head-Exploding” CDC/NYT Data Fraud
Dr. Naomi Wolf

View Video

02.22.22- A Tribute to the Mogambo Guru
David Morgan

View Video

02.21.22- And Now, for Something Entirely Different: Some Musing On The Durham Investigation
Dr. Roderick T. Beaman

The Durham investigation has been prolonged, much to the chagrin of Trump supporters and derision of opponents.

Everyone should realize that Durham has had to do a painstakingly thorough investigation, especially in tackling someone as prominent as Hillary Clinton.

And the Watergate matter was child’s play next to this. Watergate was a burglary to get information about the Democratic Party’s plans for the election and little more. Read More

02.19.22- How Markets Tank & Gold Rises
Matthew Piepenburg

Critical warning signs from the credit and rates markets are being ignored by tough-talking experts while gold bides its time before it rises in a global financial crisis mathematically too sick to save.

It is fascinating to watch market pundits, policy makers, commercial bankers and other media-supported experts talk tough on the need to fight inflation via rate hikes and central bank balance sheet cuts. In fact, such chest-puffing would be comical if not otherwise so tragic. Read More

02.18.22- The Cost Of Living In The United States Is Rising To Absolutely Absurd Levels
Michael Snyder

Most of the time, the vast majority of Americans simply do not care about economics.  And it pains me to say that, because I have been running a website about economics for more than a decade.  But it is true.  Under normal circumstances, most hard working Americans don’t have the time or the energy to debate the finer points of economic policy.  But now things have changed.  Here in 2022, our leaders have messed things up so badly that suddenly just about everyone is feeling the pain.  Most people just want economic conditions to “return to normal”, but that isn’t going to be so easy. Read More

02.17.22- The World Is Revisiting One Of The Darkest Periods In Human History
Alan Barton

– Learn From Ayn Rand And ‘Shrug’, And Take Down The Entire Evil System

We are fast approaching the stage of the ultimate inversion: the stage where the government is free to do anything it pleases, while the citizens may act only by permission; which is the stage of the darkest periods of human history, the stage of rule by brute force.

-Ayn Rand Read More

02.16.22- A Rapidly Developing Super-Crisis - You’re In One
Gregory Mannarino

The global economy is in FREEFALL, inflation is surging, and debts/deficits are skyrocketing. Real wages, personal income weighed against inflation, is CRATERING. Meanwhile, the US stock market after its rebound off the recent low, is only single digit percentage points away from all time highs.

Does this make sense to you? In short, it’s a freakshow. Today here in the United States 20% of the population is unable to pay their energy bills-and this issue is much greater in parts of Europe. Read More

02.15.22- 2022 Biggest Stock Market Crash In History Likely
Michael Pento

View Video

02.14.22- Winter Storm Warning
Brian Maher

“To everything there is a season,” Ecclesiastes informs us - winter, spring, summer, autumn.

We must assume economies, stock markets - perhaps civilization itself - offer no exceptions.

They too must roll in rhythm with the cycling seasons.

A season may run for months. Or Years. Decades. Centuries. Read More

02.12.22- Inflation Reaches 40-Year High at 7.5%
Martin Armstrong

(Editor's Note: The criminalgovernment's official numbers provide that the current rate of inflation is 7.5%. John William's Shadow Stats suggests that the actual number exceeds 15%. The average American's purchacing power is being decimated. The blame lies directly at the the feet of the Federal Reserve. The government has devolved into a pathetic clown show and provides no value whatsoever. - JSB)

The price of living in America is completely unsustainable. Inflation soared in January by 7.5%, marking the fastest pace of price gains since February 1982 when the index reached 7.6%. Secretary Psaki attempted to do damage control the day before the report was released by stating that the White House would not be surprised if inflation came in over 7%, despite having no ideas or proposed solutions for controlling rapidly rising prices. Core prices jumped 6% last month YoY, outpacing December’s 5.5% reading when it reached the sharpest increase since August 1982. Read More

02.11.22- The Investors Who Ignore This Are In For a NASTY Surprise
Graham Summers

The stock market manipulations are getting even more desperate.

For weeks now, I’ve noted time and again that the only thing holding up the stock market was abject manipulation.

Financial institutions do NOT attempt to move markets. In fact, the traders charged with executing these institutions’ trades are graded based on their ability to buy and sell large chunks of stocks without moving the tape. Read More

02.10.22- Three Revolutionary Cycles
Addison Wiggin

Our beat here at The Daily Reckoning is money - but a lot of what we write about isn’t directly related to money. It’s really about people.

In our business, we try to think of the relationship we create with you, the actual person who opened this email. Mostly because we’re looking for solutions to complex questions just like you are. Read More

02.09.22- Is Deflation Around The Corner?
Egon von Greyerz

Is deflation around the corner for investors? Geopolitics is becoming more and more decisive for daily events. Sweden fears an attack by Russia and it is indeed becoming more and more likely that at least Ukraine and Taiwan will be attacked. We are in a war cycle that will continue for years. Under these circumstances, stocks are holding up well so far, but confidence is fading and cracks in the bull market are beginning to appear. Investors are getting scared. Interest rate hikes are on the horizon in the U.S., but how likely is it that a textbook approach will be taken? Read More

02.08.22- Dominant superpowers don’t accumulate $30 trillion in debt
Simon Black

The year 238 AD began with Maximinus I as Emperor of Rome– a former peasant who had worked his way up through the ranks of the military before being chosen as Emperor by his troops.

By August of that year, Maximinus was dead, and five other men had briefly held the title of Emperor. Only one (Gordian III) was still alive by the end of 238 AD. Read More

02.07.22- Facebook Is Learning That You Reap What You Sow
Michael Snyder

When you get big enough, it can be tempting to believe that you can treat those that you do not like any way that you want.  But if you treat people like garbage long enough, it is going to bite you in the rear end.  Executives at Facebook apparently thought that they could viciously shut down free expression on their various platforms without damaging their financial performance.  Well, they were wrong.  Vast hordes of really good people have been leaving Facebook and Instagram permanently, but for a while growth from overseas was balancing that out.  Now overseas growth is drying up, and the latest numbers the company just released were do disastrous that it caused a violent reaction on Wall Street. Read More

02.05.22- Global Tightening amid Raging Inflation: February Update
Wolf Richter

Brazil and Russia caught up via shock-and-awe rate hikes. But most central banks fell further behind. Then there are the reckless laggards.

The Bank of England today, February 3, started QT (Quantitative Tightening, the opposite of QE) and raised its policy rate by 25 basis points, to 0.50%, the second hike in a row, after having raised by 15 basis points at its December meeting. The hawkish part was how it happened: A bare majority of five members of the Monetary Policy Committee voted for the 25-basis-point hike, while four members voted for a 50-basis-point hike! Read More

02.04.22- A Crash OVER 80% is Coming - 'Roller Coaster Crash' 
Mike Maloney

View Video

02.03.22- The U.S. Economy Just Took A Turn In A Very Ugly Direction
Michael Snyder

That sure didn’t last long.  Over the past two years, the U.S. government borrowed and spent trillions of dollars that we did not have, and the Federal Reserve unwisely pumped trillions of fresh dollars into our financial system.  Of course all of that money was going to be a short-term help for the economy, but it was also going to make our long-term problems even worse.  So what did we get in turn for mortgaging our future?  Well, it turns out that we got a few months of economic stability, tremendous inflation, and the worst supply chain crisis in the history of the United States. Read More

02.02.22- The Economy is
"Running Into A Wall" Now

GoldFix

Stagflation Fears Will Cause Volatility Until March

Excerpted from Sunday January 30th GoldFix Weekly Report: Next week companies will resume stock buy-back programs. This, now that the Fed is done, should underpin any strength we get for the next few months. Volatility, to the extent we get it, will be an expression of doubts on that. Read More

02.01.22- Death by Inflation or
by Interest Rate Hikes?

Daniel Fernández

Inflation is skyrocketing in practically the entire world. Central banks are getting scared and beginning to announce the end of expansionary measures, also known as tapering.

Why do central banks find themselves in a dilemma? Why has inflation risen so much? What is a bottleneck? What does tapering mean, and how could it affect us? The objective of this article is to answer these, and other, questions. Read More

01.31.22- Our Guide to the Engineered Market Sell-Off of 2022
Jason Bodner

We’ve all felt the volatility in the markets recently.

And it all centers around the Fed. Fears of rate hikes started rattling stocks all the way back to the end of last year.

Now, in the new year, uncertainty has clobbered stocks and cryptocurrencies. Headlines are now squarely focused on inflation and interest rates. Read More

01.29.22- Missing the forest for the tree
Claudio Grass

Over the second half of January, we witnessed a fresh wave of volatility in equity markets, culminating in a pullback that caused widespread concern and endless headlines in the mainstream financial press. There was speculation of a full blown correction, other “experts” disagreed and predicted that central bankers would never allow that to happen, while others still tried to account for the market’s moves by using the same explanations we’ve been hearing throughout the covid crisis every time there’s any sort of bad news in the financial press. Read More

01.28.22- Consequences, Consequences, Who Would Have Guessed...
Bill Blain

This morning I am struggling to find a single topic for my usual Friday rant. There are literally so many separate threads driving markets, from recession/recovery indicators, company earnings reports, domestic politics, geopolitics, and rising dissent, that it’s difficult to focus on any one point and paint it as the dominant factor.

But, one month in, I’ve formed a pretty unshakable view on the year ahead: 2022 is going to be very different. That does not necessarily mean very bad. Different and Bad are not mutually reinforcing unless you let them be… Whatever happens in coming months, this will be a year of tremendous opportunity… but also danger. Read More

01.27.22- 2022 - The Worst Bear Market
is Coming

Jim Rogers

View Video

01.26.22- Inflation Is The Kryptonite That Will End Our Decades-Long Monetary Policy Ponzi Scheme
Quoth the Raven

"It means buckle your seatbelt Dorothy, because Kansas is going bye-bye."

The linchpin that allows the world’s nefarious central banking model to be so effective is that the commonfolk - the plumber, the electrician, the teacher, the bartender, bus driver or barber - don’t understand it. Read More

01.25.22- We Are Being Warned That A Horrifying STOCK MARKET CRASH Which Could Wipe Out Trillions Has Now Begun
Michael Snyder

What would our country look like if an epic market crash suddenly wiped out 35 trillion dollars in financial wealth?  You may not want to think about something so horrible, but we are being warned that it could soon happen.  Stock prices have been falling for three weeks in a row, and last week was the worst week for U.S. stocks in a really, really long time.  The S&P 500 is now down more than 8 percent from the peak of the market, and the tech-heavy Nasdaq is already in correction territory.  At this point, the Nasdaq is off to its worst beginning to a year in decades, and many are extremely concerned about what is coming next. Bank of America is warning that all hell breaks loose if the Nasdaq closes below 14,000. Read More

01.24.22- Tech Stocks' "Reality Bites" Moment Has Arrived
Bill Blain

"The more you explain it, the more I don’t understand it.”

Tech stocks have taken a thumping this year – a well-timed reality check or a threat to bring down the whole market? Probably time for a clean out of all the speculative, improbable and fantastical perpetual motion machines that beguiled IPO and SPAC investors during the easy money era. Reality bites and it’s time to get real..

Let’s start the week with a statement of the downright bleeding obvious: Read More

01.22.22- Bad News, I'm Afraid
James Rickards

The breakdown of global supply chains is well-known by now. Whether it’s finding groceries in your supermarket, buying a new car or buying appliances like dishwashers and refrigerators, goods are scarce. Also, deliveries take forever and choices are limited.

Many people wonder why the problem isn’t going away. Here’s the answer:

The supply chain is a complex dynamic system. When any complex system collapses, you can look for specific causes but that’s usually a waste of time. Systems collapse internally because they are too large and too interconnected and require too many energy inputs to keep going. Read More

01.21.22- “So Goes January, so Goes the Year”
Brian Maher

It is an old Wall Street wheeze referring to the stock market. If it holds true, if the remainder of this year goes like January… the stock market is in for hard sledding through Dec. 31.

The stock market endured another defeat today - all three major indexes absorbed losses.

The Dow Jones went skidding 313 points, the S&P 500 an even 50, the Nasdaq Composite 186. Read More

01.20.22- PayPal Just Entered the Digital Currency Space
Jeff Brown

One of the most striking learnings to come out of the pandemic had nothing at all to do with viruses, vaccines, or virology. It had to do with the world’s supply chains.

The ironic thing is that the world’s supply chains had been working extremely well. Yes, there was always a hiccup here and there. But after decades of building the infrastructure and systems to support “just in time” supply chains, things were working. Read More

01.19.22- Another Major Shortage Alert: The Florida Orange Crop In 2022 Will Be The Smallest Since World War II
Michael Snyder

Over the past couple of years, we have been hit by one thing after another.  Whenever it seems like things may be calming down, another crisis suddenly erupts, and as a result a lot of Americans have developed a really bad case of “crisis fatigue” at this point.  According to Google, crisis fatigue is “a burnout response to prolonged exposure to unexpected and stressful events”. Perhaps you can identify with that definition because it sounds exactly like what you are experiencing. Unfortunately, the truth is that what we have been through so far is just the beginning.  As I have been warning for years, as “the perfect storm” gets rolling it is just going to keep getting worse and worse. Read More

01.18.22- China's Property Sector Is Crashing Again And This Time It Has Reached The Country's Biggest Developer
Tyler Durden

The crisis engulfing China's property sector - which has prompted Beijing to capitulate on its tightening ambitions yet again, and forced China to launch an increasingly more aggressive easing campaign, which so far culminated in the first rate cut in Chinese official rates in almost two years - has impacted the country's biggest developer, sending the shares and bonds of Country Garden Holdings - which is even bigger than Evergrande - plunging amid fears that a reportedly failed fundraising effort may be a harbinger of waning confidence. Read More

01.17.22- Mediocrity in power
Jacob Fraden

The power of government rests on ignorance of the people, and it knows this, and therefore will always resist enlightenment. Leo Tolstoy

Every nation has its fair share of people with no useful abilities, yet harboring considerable ambition and an insurmountable craving for la dolce vita. The longing is there, but with no means for its realization. So, what are they to do? Sooner or later the mediocre find a workable solution: they go into politics. Read More

01.15.22- Weekend Rant: Vaccine Aristocrats Strike Again
Matt Taibbi

Jimmy Kimmel Live, fast becoming Leonid Brezhnev’s never-realized dream of a Soviet Tonight Show, just put out a high-effort gag called “Anti-Vax Barbie.” It’s impressively on-message:

The skit begins with jazzy VO: “There’s a new doll in town and the fun is contagious. It’s Anti-Vax Barbie! She’s STRONG. She’s INDEPENDENT. She doesn’t trust SCIENCE!Read More

01.14.22- The Fiscal & Monetary Cliffs
Have Arrived

Michael Pento

According to Doug Ramsey of the Leuthold Group, 334 companies trading on the New York Stock Exchange recently hit a 52-week low, more than double the amount that marked new one-year highs. That’s happened only three other times in history - all of them occurring in December 1999. Read More

01.13.22- Janet Yellen's Poison Pill Tax Gambit May Soon Explode Into a Huge Trade War
Mike "Mish" Shedlock

Janet Yellen worked out a tax deal with the EU last April hoping to force Congress to approve Build Back Better. Guess what?

Poison Pill Set to Backfire

To understands what’s happening we need to go back to the beginning. In April of 2021 Treasury Secretary Janet Yellen worked out a tax deal with the EU.

Both the EU and the US want global minimum taxes and the deal Yellen worked out with the EU would heavily penalize US corporations if Congress did not pass Build Back Better. Read More

01.12.22- Troubling Trends In 2022
Alan Mammoser

During the past two years the world has changed. Events that have changed our lives in a substantial and unexpected manner, permanently in most cases so far, are not so frequent. Within living memory, or at least life span, of people still alive, these events are the invasion of Poland in 1939, the fuel price shock of 1973, September 11 of 2001 and the invasion of Afghanistan, Lehman Brothers as a symbol of prudence overcome by greed and now the Covid-19 virus. Of all these events, the past two years are having(have had?) the greatest and probably most lasting effect on the whole world. 2022 ought to show if there happens to be evidence of the extent of the changes to come and the direction  Read More

01.11.22- The Real Threat to Democracy is Corrupting Wealth Inequality
Charles Hugh Smith

Try to find a developing-world kleptocracy in which the top few collect more than 97% of the income from capital. There aren't any that top the USA, the world's most extreme kleptocracy. We're Number 1. 

Imagine a town of 1,000 adults and their dependents in which one person holds the vast majority of wealth and political influence. Would that qualify as a democracy?  Read More

01.10.22- Worst Week for the 30-Year Long Bond in 49 Years
Mike "Mish" Shedlock

Bonds got massacred last week as the Fed signals faster and deeper tightening.

Epic Moves

Jim Bianco posted an interesting Tweet Thread today on bond yields. Read More

01.08.22- And Now, for Something Entirely Different: When That Ol’ Mojo Stops Workin’
James Howard Kunstler

What you’re actually seeing in the rhetorical hoo-ha over the January Sixth capitol riot is the main cattle-prod driving mob madness - fear of Covid-19 - losing its power to terrorize the public. The Party-of-Chaos put on a grand opera of lamentation Thursday to celebrate its unity in victim-hood - we wuz so traumatized by the riot! - but in the background, they can see their dearer dream of total vaccination - and total control of the population - fade in the winter mists. Read More

01.07.22- Money supply and rising interest rates
Alasdair Macleod

The establishment, including the state, central banks and most investors are thoroughly Keynesian, the latter category having profited greatly in recent decades from their slavish following of the common meme.

That is about to change. The world of continual Keynesian stimulus is coming to its inevitable end with prices rising beyond the authorities’ control. Being blinded by neo-Keynesian beliefs, no one is prepared for it. Read More

01.06.22- And Now, for Something Entirely Different: Crimes against Our Country
James Howard Kunstler

The year of sickening global psychosis ended with virologist and vaccine-uberspecialist Dr. Robert Malone truth-bombing the Internet with three hours of straight talk about the US health authorities’ campaign to destroy the lives of at least half a million US citizens (so far) and, leading by example, to harm multiples of that number of innocent people across all of Western Civilization. Podcaster Joe Rogan assisted skillfully in an interview that is finally rocking the world out of an epic consensus trance.  Read More

01.05.22- The Changing World Order:
The New Paradigm

Ray Dalio

At the risk of boring you by repeating myself, now at this beginning of the new year and with the publication of my book Principles for Dealing with theChanging World Order, I want to concisely convey the most important thoughts I have about the paradigm we are now in, which is a result of how the world order appears to be changing. To be clear, while I express concerns and risks, I believe that we collectively have the power to manage our challenges well if we are smart and considerate with each other. Also, please know that I am not sure that any expectations I have are right. I’m just passing along my thinking for you to take or leave as you like.  Read More

01.04.22- 2022: The Year of Breakdown
Brian Maher

2021 is in the dustbin. 2022 is freshly hatched.

As a financial newsletter, we are duty-bound to give our annual market forecast - such as it is.

So today we fetch our crystal ball from storage… blow away the dust… and gaze for images of the year ahead. Read More

01.03.22- And Now, for Something Entirely Different: People are dying, but not the ones you think for the reasons you think
Andrea Widburg

While the mainstream media, at least in 2020, tracked deaths with the fanaticism of an insurance company, they've always lacked accuracy.  That's why it matters when a major American insurance company, which is in the business of accurate data about deaths, announces that Americans in the 18–64 age bracket are dying in unprecedented numbers.  The same data suggest that these aren't COVID deaths, which makes them much more sinister. Read More

01.01.22- How To Survive The Mega Collapse Of 2022
MN Gordon

Welcome to 2022!

The New Year’s edition of the Economic Prism is a place of wild guesses and rough suppositions.  Today we focus our eyes through our proprietary prism.  We set our sights over a 12 month viewshed.  What do we see? Read More

 

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