Deflation, lower prices all around. The Federal Reserve is, in reality, the world’s largest money-laundering machine. I show a trail leading to the inevitable conclusion that the Fed is not about aiding the nation or borrowers; it’s about funneling “free money” to the banks to restore their balance sheets and …
Podcast: Play in new window | Download (12.7MB) | Embed
Economic growth may be a thing of the past. Developing countries may play ‘catch-up’ but the developed world may see no appreciable progress for many decades. This is one reason why I suggest Asia as a venue for emigration. An interesting juxtaposition of several data points in the stock market …
Podcast: Play in new window | Download (12.8MB) | Embed
The insanity surrounding the growth of debt defies credulity. Future generations will shake their heads in disbelief. The upheaval surrounding the ultimate unwinding cannot be described in words. Nothing in human history will compare to the horror of it. Things are very grim in other countries too – and many …
Podcast: Play in new window | Download (12.6MB) | Embed
At the Atlantic Economy Summit in Washington last month, Sheila Bair fielded a question about the just-released results of the latest bank stress tests. The former FDIC chief took pains to point out that they were an improvement over earlier iterations by virtue of keying off a truly dire economic scenario, but …