The rest of us eat our losses, either all at once or in bitter bites as we trudge through the financial wasteland left after bubbles burst.The news that the Federal Reserve Casino is giving away free gambling chips triggered a frenzied rush that trampl…
The political moment when the “losers” connect their discontent and decline with central bankers is approaching.The Ruling Elites’ Chattering Classes still haven’t absorbed the key lesson of the 2016 U.S. presidential election: the percentage of t…
The system is broken, and the managerial elite will keep it broken because it serves their interests to keep it broken.America’s managerial elite came to do good and stayed to do well–at the expense of everyone beneath them. Now that they’ve entr…
All asset “wealth” in credit-asset bubble dependent economies is contingent and ephemeral.A funny thing happens to “wealth” in a bubble economy: it only remains “wealth” if the owner sells at the top of the bubble and invests the proceeds in an as…
If we look at these charts, it looks like only the top 10%, or perhaps the top 20% at best, might qualify as “middle class” by the metrics described below.The conventional definition of working class is based on income and education:the worki…
Herds get spooked and run. That’s the crash scenario in a nutshell.We have all been trained by a decade of central bank saves to expect any stock market swoon will soon be reversed by central bank sweet talk and/or rate cuts. As a result of such e…
Recent research supports the idea that this under-the-radar migration is already under way.The decline of rural regions and small towns is a global phenomenon, and the causes are many but boil down to two primary dynamics:1. Cities and megalopolises (a…
There are two other trends that don’t attract quite the media attention that soaring profits do.Is the decade-long tech bubble finally popping? Tech bulls are overlooking the fundamental reality that the drivers of Big tech’s phenomenal growth–fi…
