Three Reasons Why the Biden Tax Increase Makes No Sense
Anyone who believes the “rich” and large corporations will pay for $28 trillion in debt or the $2 trillion in new deficit has a real problem with math…
Continue readingDaniel LaCalle
The US Recovery Is Weak, Especially Given the Size of the “Stimulus”
There is an overly optimistic consensus view about the speed and strength of the United States’ recovery that is contradicted by facts. It is…
Continue readingLockdowns and Easy Money Bring a Weak Recovery for Europe
Most politicians blame the eurozone weakness on the pandemic and the slow vaccine roll out. It is partially true…
Continue readingThe Everything Bubble: How A Debt-Driven Economy Creates More Frequent Crises
Governments and central banks create a crisis from a moderate and completely healthy slowdown by denying economic cycles and, even worse…
Continue readingHow a Small Rise in Bond Yields May Create a Financial Crisis
How can a small rise in bond yields scare policymakers so much?
Continue readingSubzero Rates Are Coming to the US and the UK
When this happens, it becomes necessary to protect one’s savings with gold, silver, inflation-linked instruments, and…
Continue readingCompared to Europe and China, America Is Still a Safe Bet
Betting against America is a bad idea, even if the Biden Administration tries to…
Continue readingThis Time Is Not Different: More Debt, Less Growth
All the central bank quantitative easing programs do not prevent the bankruptcy domino from accelerating in 2021, just as we saw in…
Continue readingWhy Mainstream Economic Forecasts Are So Often Wrong
We must also remember that mainstream bodies are almost entirely populated by Keynesian economists, and there is a tendency to…
Continue readingNew Lockdowns and More Regulations Are Disastrous for US Jobs
The “Great Reset” and Plans for a Global War on Savings
There is an enormous risk that governments will use the excuse of canceling part of their debt with a decision to cancel a large part of our savings….
Continue readingThere Is No Chinese Economic Miracle
The data from China is apparently spectacular. What is behind the Chinese miracle?
Continue readingThe Economic Recovery Is Stalling: We Need Pro-Market Reforms Now
Most developed economies face a dangerous dilemma: choose to follow the path of debt stagnation or strengthen the economy to exit the crisis in…
Continue readingIf the US Adopts Eurozone Policies, the Jobs Recovery Will Suffer
The employment recovery in the United States is as impressive as the collapse due to the lockdowns…
Continue readingThe US Dollar Collapse Is Greatly Exaggerated
This is not a year of US Dollar weakness or the end of its supremacy as reserve currency, what we are witnessing is a…
Continue readingBankruptcies Rise Despite Trillions in New Liquidity
One of the most alarming facts about this crisis is the pace at which bankruptcies are rising. Despite an $11 trillion liquidity injection and…
Continue readingThe Global Jobless Recovery
If governments don’t implement significant supply-side measures that incentivize new business creation and growth in small ones, we may find…
Continue readingTrump’s Spending Is Making The US Economic Recovery Harder, Biden Would Make It Even Worse
The magic money tree does not exist. Monetary policy is only disguising a structural and dangerous spending problem. This reckless behavior can only…
Continue readingEurope’s Bailouts Risk a Full-Blown Financial Crisis
The measures implemented by governments in the eurozone have one common denominator: a massive increase in debt from governments and..
Continue readingThe Central Bank “Bailout of Everything” Will Be a Disaster
The same time as we see the largest support plan since WWII, we are witnessing two dangerous collateral effects: the rise of zombie companies and the collapse of…
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