- newTrapped!
Kill authentic price discovery, you also kill markets, and in killing markets, you kill allocation of capital and risk management, and in killing those, you kill the economy. Back when prosperity was authentic, the Federal Reserve had little need fo…
- 18 hours ago 26 Feb 21, 5:34pm -
- Oil and Debt: Why Our Financial System Is Unsustainable
How much energy, water and food will the "money" created out of thin air in the future buy? Finance is often cloaked in arcane terminology and math, but the one dynamic that governs the future is actually very simple. Here it is: all debt is borrow…
- 2 days ago 25 Feb 21, 2:39am -
- Anatomy of a Bubble and Crash
Needless to say, few are expecting bubble symmetry to manifest now, because, well, of course, "this time it's different." Indeed. It's always different and yet always the same, too. Let's indulge in some basic logic:1. All speculative bubbles pop, r…
- 4 days ago 23 Feb 21, 9:50pm -
- The Babble-On 7: The Fed and Yellen
So babble on, Babble-On 7; it won't change anything. The forces in motion are like tides, and you can't talk the tide into reversing. Allow me to introduce the Babble-On 7: the six board members of the Federal Reserve and Treasury chief Janet Yellen.…
- 5 days ago 22 Feb 21, 5:13pm -
- Next Up: Global Depression
This madness is now global, so next up: global depression. A few days after the Covid pandemic was officially announced last year on 1/23/20, I prepared a chart projecting the course of the pandemic. In my view it still stands, with two updates: "va…
- 8 days ago 19 Feb 21, 4:49pm -
- What Poisoned America?
America's financial system is nothing more than a toxic waste dump of speculation, fraud, collusion, corruption and rampant profiteering. What Poisoned America? The list of suspects is long: systemic bias, special interests dominating politics, poli…
- 9 days ago 18 Feb 21, 6:22pm -
- GBOAT: Is This the Greatest Bubble of All Time?
The lifestyle you ordered in the euphoria will be out of stock in the panic. Humans running Wetware 1.0 (which is all of us) love to gamble, and we are entranced by the thrill of victory and the agony of defeat. When there's a market for speculatio…
- 11 days ago 16 Feb 21, 5:07pm -
- Presidents Day: Carter's Prescient Farewell Address in 1981
Regardless of our opinions about President Carter and his legacy, his Farewell Address is worthy of our attention and study. On Presidents Day 2021, I invite you to read/watch President Carter's Farewell Address from 40 years ago. As a Washington out…
- 12 days ago 15 Feb 21, 8:21pm -
- Gains Are Unreal, Losses Are Real
Why would anyone sell when further gains are guaranteed? Because the gains are unreal but the losses are real. When markets are soaring and your portfolio is rocketing higher, the gains seem unreal.Did I really make that much in one day, week, month…
- 16 days ago 11 Feb 21, 6:56pm -
- What Collapsed the Middle Class?
The middle class has already collapsed, but thanks to debt and bubbles, this reality has been temporarily cloaked. What collapsed the middle class? In many ways the answer echoes an Agatha Christie mystery: rather than there being one guilty party,…
- 17 days ago 10 Feb 21, 3:43pm -