The 4th of July is a fitting day to ponder the reality that we are at Peak Government, and the Savior State is unsustainable. This is a matter of accounting: no nation can spend more than it generates in surplus real output forever. What goes unremark…
Conventional economists are constantly cooing that oil accounts for a smaller percentage of the U.S. economy that it did in the 1970s; but does that mean that the economy is any less vulnerable to supply disruptions? The concept of leverage helps us…
From Charles Hugh Smith…
The Fed has galloped into a box canyon with no escape; no matter what it does, QE3 will “disppoint” the markets.
I think we can safely predict that “Quantitative Easing 3” (the next round of fiat money creation) will “d…