Goodbye To All That: The Demise Of Globalization And Imperial Pretensions
China and other emerging economies and the global expansion of the magic elixir of skyrocketing consumption, credit…
Continue readingOf Two Minds
The Gathering Storm: Could Covid-19 Overwhelm Us In The Months Ahead?
Either the science is wrong and the complacent will be proven correct, or the science is correct and the complacent will be wrong…
Continue readingCould The Covid-19 Pandemic Collapse The U.S. Healthcare System?
Disregard these second-order effects at your own peril…
Continue readingThe Economic Cataclysm Ahead
The economic storm hasn’t passed; the false calm is only the eye of the financial hurricane…
Continue readingNo, The Fed Will Not “Save the Market” – Here’s Why
The greater the excesses, speculative euphoria and moral hazard, the greater the reversal…
Continue readingCovid-19: Global Retrenchment Will Obliterate Sales, Profits And Yes, Big Tech
If you think global demand will rebound as global debt and confidence implode, you better not be making consequential decisions based on magical thinking…
Continue readingOmens, Portents, Karma And The Mandate Of Heaven
The question of legitimacy isn’t limited to China…
Continue readingCOVID-19 Pandemic: The Complacent Are Clueless, And They Will Pay A High Price
The eventual price of substituting magical thinking and survivorship bias for actual evidence will be far higher than the complacent realize…
Continue readingThe Violent Collision Of Market Fantasy And Viral Reality
When the stampede tumbles off the cliff, buyers vanish and markets go bidless…
Continue readingControlling The Narrative Is Not The Same As Controlling The Virus
Are these claims even remotely plausible for a highly contagious virus that spreads easily between humans while carriers show no symptoms?
Continue readingSecond-Order Effects: The Unexpectedly Slippery Path To Dow 10,000
The coronavirus epidemic in China just poured fentanyl in the Dow 30,000 punchbowl…
Continue readingCoronavirus And The “Unsinkable” Titanic Analogy
It was not at all apparent that the mighty vessel had been fatally wounded…
Continue readingCharles Hugh Smith: The Future Of What’s Called “Capitalism”
The psychotic instability will resolve itself when the illusory officially sanctioned “capitalism” implodes…
Continue readingIf Martians Teleported The Davos Crowd To A Distant Moon, Who Mourns And Who Would Cheer?
The system that has so enriched the self-serving crowd is unraveling. Technocratic tweaks, carbon trading and philanthro-capitalism can’t fix what’s broken…
Continue readingInstability Rising: Why 2020 Will Be Different
In 2020, increasing monetary and fiscal stimulus will be the equivalent of spraying gasoline on a fire to extinguish it…
Continue reading409Ks, 90% Gains, The Fed And Darth Vader’s Warning
The worship of mortals as demi-gods and faith in Golden Idols triggers a turn in the karmic wheel as near-infinite hubris invites divine retribution…
Continue readingThe Fed Can’t Reverse The Decline Of Financialization And Globalization
The global economy and financial system are both running on the last toxic fumes of financialization and globalization…
Continue readingWas Marx Right About Capitalism Destroying Itself From Within?
What are the internal contradictions that could unravel capitalism from within?
Continue readingThe Fed’s “Not-QE” And The $33 Trillion Stock Market In Three Charts
One day the stock market ‘falcon’ will no longer hear the Fed ‘falconer’, and the Pavlovian magical thinking will break down as the market goes bidless…
Continue readingThe Hour Is Getting Late
After 11 years of “the Fed is the market” expansion, the Fed has now reduced its bloated balance sheet by 6.7%. This is normal, right?
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