Reposted with the kind permission of Charles Hugh Smith The essence of debt serfdom is debt rises to compensate for stagnant wages. I often speak of debt serfdom; here it is, captured in a single chart. The basic dynamics are all here, if you read between the lines: 1. Financialization of the U.S. and global economies…
Tag Archive for Kind Permission
Charles Hugh Smith, Contributors- Economic and Financial, Must Read
Future Economy, Future Stability, Future Careers
by Charles Hugh Smith • • 0 Comments
Dissent, feedback, innovation and adaptation are the only sustainable sources of stability, prosperity and well-being.
Reader Michael K. recently asked one of the key questions of the next 20 years:
I would very much like to learn your thoughts…
Charles Hugh Smith, Contributors- Economic and Financial, Must Read
Where’s the Collateral?
by Charles Hugh Smith • • 0 Comments
A sound system of credit is built on collateral. A doomed system of debt sits precariously on phantom collateral.
The global “recovery” is based not on reducing debt but on increasing it. Nice, but where’s the collateral? The basic idea of de…
Clusterfuck Nation, Contributors- Economic and Financial, James Howard Kunstler, Must Read
Elegy – Clusterfuck Nation
by James Howard Kunstler • • 0 Comments
Reposted with the kind permission of James Howard Kunstler A few weeks ago I flew to Chicago, hopped into a rent-a-car, and navigated my way on the tangle of interstate highways to the now mostly former industrial region in the northwest corner of Indiana just off lowest Lake Michigan between the towns of Whiting and…
Contributors- Economic and Financial, Must Read, William Black
The Dutch Left’s Embrace of the Austerity Suicide Pact: It’s Necessary for the Children!
by New Economic Perspectives • • 0 Comments
The Dutch Left’s Embrace of the Austerity Suicide Pact: It’s Necessary for the Children!
By William K. Black A remarkable, and terrible, thing has just taken place in the Netherlands of which few Americans are aware. The ruling Dutch political coalition collapsed when the ultra-right wing party (the Freedom Party, led by Geert Wilders) … Continue reading →
The Dutch Left’s Embrace of the Austerity Suicide Pact: It’s Necessary for the Children!
Charles Hugh Smith, Contributors- Economic and Financial, Must Read
Does Believing in the "Recovery" Make It Real?
by Charles Hugh Smith • • 0 Comments
Basing a “virtuous cycle” on lies and propaganda is self-defeating.
Does believing in the “recovery” make it real? The propaganda policies of the Federal Reserve and the Federal government are based on the hope that you’ll answer “yes.” The en…
Charles Hugh Smith, Contributors- Economic and Financial, Must Read
The New Drug of Choice in the White House, Federal Reserve and Treasury: Delusionol ™
by Charles Hugh Smith • • 0 Comments
If you just want to suppress the symptoms but leave the financial disease untouched, Delusionol ™ is the drug of choice.
Inside sources are reporting that there’s a new drug of choice circulating in the hallways of power–the White House, Fede…
Charles Hugh Smith, Contributors- Economic and Financial, Must Read
What Happens When All the Money Vanishes Into Thin Air?
by Charles Hugh Smith • • 0 Comments
Issuing debt and printing money do not create wealth. All they can create is a temporary illusion of wealth.
I could have written “if all the money vanishes,” but that would be misleading, for all unbacked money will most certainly vanish into thi…
Charles Hugh Smith, Contributors- Economic and Financial, Must Read
Peak Dow, Peak GDP and Peak Oil
by Charles Hugh Smith • • 0 Comments
Peak Oil and Peak Credit do not exist in a vacuum; they’re why we have Peak GDP, Peak Dow and Peak Income.
You don’t get Peak Oil and cheap abundance in everything else: you get Peak X, Y and Z, for example Peak Oil, Peak Dow and Peak GDP. Peaks …
Charles Hugh Smith, Contributors- Economic and Financial, Must Read
Peak Housing, Peak Fraud, Peak Suburbia and Peak Property Taxes
by Charles Hugh Smith • • 0 Comments
Peak Housing reflects not just a credit bubble but Peak Fraud and Peak Suburbia.
Once again pundits are claiming that housing is “finally recovering.” But they’re overlooking three peaks: Peak Housing, Peak Financial Fraud, and Peak Suburbia, all…