Our society has a legal structure of self-rule and ownership of capital, but in reality it is a Neofeudal Oligarchy.The Inheritance of Rome: Illuminating the Dark Ages 400-1000 is not an easy, breezy read; its length and detail are daunting.T…
Today’s prescription for unstable markets and finance: more monetary stimulus. For unstable economies: more monetary stimulus. For inequality, trade wars and geopolitical uncertainties: much more monetary stimulus.
Last month in the Treasury Supply update (May 16) I wrote that the debt ceiling would continue to force the Treasury to pay down debt,…
In order for rate cuts to be insurance for a boom to continue, there first has to be a boom able to be continued. The FOMC meeting yesterday didn’t directly kill the idea, but that’s actually what’s coming up in the latest projections. This is why there’s been so much attention focused on inflation. The […]
In early January, much of the world was dazed and confused. What the hell just happened? Two weeks before, in the middle of December 2018, Jay Powell stood in front of the microphones confidently declaring his rate hikes justified by an extremely strong economy. Yet, even the stock market had turned against him. When the […]
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…
CUSIP: 9128286N5Term and Type: 4-Year 10-Month TIPSSeries: X-2024Reopening: YesInterest Rate: 0.500%High Yield: 0.152%Price: $102.955042Allotted at High: 30.97%Total Tendered: $38,279,436,000Total Accepted: $15,000,001,500Auction Date: 06/20/2019Issue …
They’re right. It IS different this time. It’s worse. Much, much worse. What is? Everything. In terms of preparedness for the next recession that is. Debt is higher than ever, be it […]
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…
