Source – sovereignman.com We’re done with “gradually”. We’ve now reached the “suddenly” part by Simon Black By the summer of 1563, all of Britain had plunged into chaos over religion and the Reformation. King Henry VIII broke away from the Catholic church back in the 1530s, sparking a near civil war within the kingdom. Protestants…
Source – economicprism.com What Brookfield’s Default Has to Do with You by MN Gordon Over more than two decades we worked off and on in Downtown Los Angeles. We had a client for several years at 555 West 5th Street, in the tower at the base of Bunker Hill. We’d meet several times a week. Always…
Source – economicprism.com The Creative Process of Government Destruction by MN Gordon “History is a record of ‘effects’ the vast majority of which nobody intended to produce.” – Joseph Schumpeter Unintended Consequences It was about a year ago when IMF Director Kristalina Georgieva took part in a panel discussion hosted by CNBC. This may have been…
Source – davidstockmanscontracorner.com SM:…”There’s a tear in my beer….” Dear Reader, The ballgame is changing. And fast! Both Wall Street and Washington went off the deep-end during the 2020-2021 pandemic period—spending, borrowing, printing and speculating like never before in history. But the nation’s financial bacchanalia is now over. The time of reckoning has commenced. That…
Source – oftwominds.com The Everything Bubble and Global Bankruptcy The resulting erosion of collateral will collapse the global credit bubble, a repricing/reset that will bankrupt the global economy and financial system. Scrape away the complexity and every economic crisis and crash boils down to the precarious asymmetry between collateral and the debt secured by that collateral collapsing. It’s really that simple. In…
Source – paulcraigroberts.org Why the Dollar-based International System Is Breaking Up By Paul Craig Roberts (Also Read: China And Brazil Strike Deal To Ditch The US Dollar @ https://www.zerohedge.com/markets/china-and-brazil-strike-deal-ditch-us-dollar) (Above Image Added By SM) The Federal Reserve’s higher interest rates after 12 years of zero interest rates are devaluing the asset side of banks’ balance sheets. This…
Source – quoththeraven.substack.com This Financial Crisis Will Be Like None Other In History It looks as though Credit Suisse is going to be sold off for pennies on the dollar, temporarily postponing a financial trainwreck, at least for a couple more hours or days, until the next shoe inevitably drops. The Fed doesn’t seem keen…
Source – unz.com Why the Bank Crisis Is Not Over – By Michael Hudson The crashes of Silvergate, Silicon Valley Bank, Signature Bank and its related bank insolvencies are much more serious than the 2008-09 crash. The problem at that time was crooked banks making bad mortgage loans. Debtors were unable to pay and were…
Source – wallstreetonparade.com Moody’s Downgrades Entire U.S. Banking System; Credit Suisse Plummets. Welcome to Banking Crisis 3.0 By Pam Martens and Russ Martens (Also Read: ‘This Is Scary’: Financial Industry Panic Spreads as Credit Suisse Teeters @ https://www.commondreams.org/news/financial-panic-credit-suisse) The “Related Articles” linked below (a tiny sampling of relevant articles) will remind our readers just how long…
Source – michael-hudson.com Why the Banking System is Breaking Up By Michael Hudson Support my work via Patreon The collapses of Silvergate and Silicon Valley Bank are like icebergs calving off from the Antarctic glacier. The financial analogy to the global warming causing this collapse is the rising temperature of interest rates, which spiked last Thursday and…
Source – scheerpost.com SM:….Two words – Bear Sterns……. The Looming Quadrillion Dollar Derivatives Tsunami Ellen Brown By Ellen Brown / Original to ScheerPost On Friday, March 10, Silicon Valley Bank (SVB) collapsed and was taken over by federal regulators. SVB was the 16th largest bank in the country and its bankruptcy was the second largest in U.S. history, following…
Source – economicprism.com What Comes After the Great Liquidation by MN Gordon (Above Image Added By SM) Expectations were great. When 2023 started, there was a general sense that the stock and bond markets had turned over a new leaf. A repeat of 2022 was out of the question. The primary assumption was that inflation would…
Source – zerohedge.com “Worst Since Lehman”: Banks Break The World Again Last week we detailed BofA’s Michael Hartnett’s warning that “The Fed will tighten until something breaks”. Well, something just broke… SVB’s collapse – the second biggest US bank failure in history – dominated any reaction to this morning’s mixed bag from the BLS (hotter than expected earnings growth,…
Source – zerohedge.com Communities Block, Ban Dollar Stores Amid Nationwide Invasion (Above Image Added By SM) Recall Dollar General, Dollar Tree, and Family Dollar stores are invading low-income communities nationwide. At the start of 2022, all three discount retailers operated 34,000 US stores, more than Mcdonald’s, Starbucks, Target, and Walmart combined. Now there’s a wave of grassroots…
Source – internationalman.com The Top 3 Reasons the US Has Entered the Inflation Death Spiral by Nick Giambruno Rapidly rising food, housing, medical, and tuition prices are squeezing Americans, and many do not understand the real cause of their falling living standards. That confusion opens the door for opportunistic politicians who promise supposed freebies to ease…
Source – dailyreckoning.com The Accelerating Countdown To Armageddon Authored by James Rickards Get ready for screaming headlines beginning in about two months. Why? Because the U.S. will be coming up on a double deadline of debt and deficit inflection points. The budget deficit issue will be hotly debated from March to next September and may…
Source – robertreich.org The Biggest Economic Lies We’re Told In America, it’s expensive just to be alive. And with inflation being driven by price gouging corporations, it’s only getting more expensive for regular Americans who don’t have any more money to spend. Just look at how Big Oil is raking it in while you pay through the nose at the…
Source – charleshughsmith.blogspot.com The Core of the Economy–The Middle Class–Is Crumbling The net result of hyper-globalization and hyper-financialization is the crumbling of the middle class. Neofeudal societies and economies lack a vibrant middle class. This is the defining feature of feudalism and its updated V2.0, neofeudalism: a nobility (based on birth or finance, it doesn’t matter) controls the vast majority…
Source – oftwominds.com How Easy Is It To Become Middle Class? Authored by Charles Hugh Smith If we want social / economic renewal, we have to make it easy to climb the ladder to middle class security for anyone willing to adopt the values and habits of thrift, prudence, negotiation, and hard work. Let’s stipulate that…
Source – stuartbramhall.wordpress.com FDIC Bankers Discuss ‘Bail-Ins’ To Deal With Approaching Market Collapse Easy Money Federal Deposit Insurance Corporation (FDIC) officials recently discussed how to deal with the next approaching market collapse and hide alarming data from depositors to prevent bank runs, video of a meeting shows. The FDIC’s Systemic Resolution Advisory Committee (SRAC) held a…
Source – internationalman.com The Financial “Samson Option” and What You Need To Do Before Governments Use It by Nick Giambruno AddThis Sharing Buttons Share to FacebookFacebookShare to TwitterTwitterShare to More More In the early ‘90s, legendary investigative journalist Seymour Hersh revealed the “Samson Option,” a secret Israeli nuclear deterrence strategy. It states that in a…
Source – stuartbramhall.wordpress.com Monopoly Board Game Updated For Our Times The new Federal Reserve edition of the popular board game Monopoly has been revised to fit the realities of the modern banking and real estate world. The most radical change is that the money in the game will no longer be issued as a public utility…
Source – preppgroup.home.blog/ 7 Unexpected Consequences of an Economic Crisis: That Will Throw The Nation Into Total Chaos Milan Adams Other than the obvious consequences, what might we expect from a partial economic collapse? A total collapse of the economy would throw the nation into utter chaos. But what if we endure an economic depression, or…
Source – internationalman.com Are You Easy Prey? – By Jeff Thomas For many years, I’ve been predicting the coming of a crisis of epic proportions. I’ve focused on the economic and political aspects, although the social aspects will be no less severe. This is not the stuff of crystal balls, nor is it mere guesswork.…
Source – youtube.com Robert Kiyosaki Predicts MAYHEM Next Week This time has finally come. Robert Kiyosaki elaborates on the spooky times we’re currently experiencing. “Now, the U.S. goes down – the world goes down…” He says that the average person will get wiped out and shares his simple way of protecting life savings in this…
Source – economicprism.com Death to Zombies By MN Gordon On Thursday, the Bureau of Labor Statistics reported that consumer prices, as measured by the consumer price index (CPI), inflated at an annual rate of 7.7 percent in October. Investors went bananas on this apparent pullback in the headline CPI. The stock market responded with one…
Source – mises.org The End of World Dollar Hegemony: Turning the USA into Weimar Germany By Patrick Barron In a recent essay, I explained how over time the US abused its responsibility to control the supply of dollars, the world’s premier reserve currency for settling international trade accounts among nations. This abrogation of its duties is…
Source – theepochtimes.com There Really Is No Middle Class Any Longer – By Lance roberts There was a time when a large portion of Americans belonged to the “middle class.” It meant you could afford a decent living standard, such as owning a house and a car and had savings in the bank. When “baby…
Source – zerohedge.com Marc Faber: A Massive Systemic Shock Is Coming & The Fed Is Actively Courting It Veteran macro analyst Marc Faber sat down recently for an interview with Wealthion. Below are the videos of the discussion, plus Wealthion host Adam Taggart’s notes of the key takeaways: PART1: A Massive Systemic Shock Is Coming…
Source – preppgroup.home.blog The Day All the ATMs Ran Out of Cash By Milan Adams Money plays such an important role in our lives that most of us could not imagine surviving without it. Yet that is exactly what you need to do if you want to prepare for an economic condition called deflation. Deflation…
Source – thegreatrecession.info Celebrating Our Great and Feared Leaders This week, I am inspired by the awarding of the Nobel Prize in Economics to our own highly regarded Ben Bernanke, one of the world’s greatest economists who recognized, contrary to the average dolt who felt otherwise, that we were not in a recession in the…
Source – themostimportantnews.com SM:..”The Lifestyle You Ordered Is Out Of Stock”… The Era Of Cheap Food And Cheap Gasoline Is Over Authored by Michael Snyder All of our lifestyles are about to change in a major way, but the vast majority of the population still does not understand what is coming. Throughout our entire lives,…
Source – oftwominds.com ‘Quiet Quitting’ Isn’t Just About Jobs; It’s About a Crumbling Economy The unraveling of hyper-Globalization and hyper-Financialization will generate consequences few conventional analysts and pundits anticipate. TikTok videos on ‘Quiet Quitting’–doing the minimum at work, giving nothing extra to the employer– have gone viral, and The Wall Street Journal quickly picked up…
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