The greater fools still partying in the first-class lounge are in denial that even the greatest, most technologically advanced ship can sink.On April 14, 1912, the liner Titanic, considered unsinkable due to its watertight compartments a…
As the inverted pyramid collapses, the effects will be non-linear.Round about late March, we entered a Financial FantasyLand in which all the sins and excesses of rampant financialization were going to be painlessly washed away. Mever mind the ent…
Our society has a legal structure of self-rule and ownership of capital, but in reality it is a Neofeudal Oligarchy.Now that the pandemic is over and the economy is roaring again–so the stock market says–we’re heading straight back up into the good o…
Virtue-signaling texts from your $100 million yacht no longer impress, they enrage.For the past five decades, celebrities and other wealthy folks have sought conventional status signifiers / symbols: a couple hundred thousand acres of ranchland, a…
Given the extremes of the stock market’s frauds and even greater extremes of wealth/income inequality it has created, tell me again why the stock market will still exist in 2024?When I read a financial pundit predicting a bull market in stocks through …
Not only will there not be a recovery, but there can’t be a recovery, as those brittle extremes have been lost for good. How did the global economy end up teetering on a precarious financial precipice? To formulate a cogent answer, let’s take a whi…
The elites dancing through the minefield all have plans, but how many are prepared for the punch in the mouth?Open any newspaper from the past 100 years and you will soon find a newsworthy geopolitical hotspot or conflict. Geopolitical conflict is…
The only realistic Plan B is a fundamental, permanent re-ordering of the cost structure of the entire U.S. economy.The fantasy of a V-shaped recovery has evaporated, and expectations for a W or L-shaped recovery are increasingly untenable. So forg…
Once you allow your economy to become dependent on extremes of debt, leverage, inequality, legalized looting, monopoly, pay-to-play politics and speculative asset bubbles, a depression is inevitable.
In the false religion of data, heresy is asking for data that is not being collected because it might reveal unpalatably unprofitable realities.Here’s how every modern con starts: let’s look at the data. Every modern con starts with an earnes…
