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~ Quotables ~ "There is no clean way to make a hundred million bucks. Somewhere along the line guys got pushed to the wall, nice little businesses got the ground cut out from under them. Decent people lost their jobs. Big money is big power, and big power gets used wrong. It's the system."~ Raymond Chandler, The Long Goodbye
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Category Archives: The Mine or the Shaft
We are again reaching the point in the business cycle known as “peak debt,” when debts have compounded to the point that their cumulative total cannot be paid. Student debt, credit card debt, auto loans, business debt and sovereign debt … Continue reading
Last week we wrote about how global central banks have created an economic time machine by forcing $17 trillion worth of bond yields below zero percent, which is now 30% of the entire developed world’s supply. Now it’s time to … Continue reading
The distinguishing feature of fiat money systems is that they are licentious—they are created by corrupt politicians so that they can act without restraint by, for example, promising the citizens the earth in order to improve their chances of being … Continue reading
Most people who have undertaken a formal study of economics end up accepting such things as the necessity of a central bank to prevent or at least ameliorate recessions. They take as a given the need for government intervention in … Continue reading
The End?: If The Federal Reserve Cuts Interest Rates Now, It Will Be An Admission That A Recession Is Coming
So there is a lot of buzz that the Federal Reserve is about to cut interest rates – and it might actually happen. We’ll see. But if it does happen, it will directly contradict the carefully crafted narrative about the … Continue reading
Big Companies All Over America Are Reporting Disastrous Financial Results If the U.S. economy really was “booming”, then corporate earnings would be rising. But that isn’t happening. In fact, we haven’t seen corporate earnings fall like this since the last … Continue reading
Honest money is a widely-accepted medium of exchange that arises solely from voluntary market exchanges and maintains its value solely from voluntary market exchanges. People once settled on gold and silver coins as their preferred money, but we have long … Continue reading