LATEST NEWS : Inflation – Crash Course Chapter 11

For close to 300 years, inflation in the US remained very subdued. Small spurts occurred around major wars (Revolutionary, Civil, WW1, etc), but after each, inflation quickly trended back down to its long-term baseline. If you lived during this stretch of time, your money had roughly the same purchasing power your great-grandfather’s did. But something […]

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LATEST NEWS : A Brief History of US Money – Crash Course Chapter 9

Looking at the past 100 years of the US dollar’s history, one theme becomes abundantly clear: in times of crisis, the US government has no issue with changing its own rules or breaking its own laws. And those “temporary” emergency measures have a nasty habit of quickly becoming permanent. Among the more notable milestones of […]

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Are You Crazy To Continue Believing In Collapse?

It’s nerve-wracking to live in the historical moment of an epic turning point, especially when the great groaning garbage barge of late industrial civilization doesn’t turn quickly where you know it must, and you are left feeling naked and ashamed with your dark worldview, your careful preparations for a difficult future, and your scornful or […]

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"The Government Comes Up With the Money"

I’m half-heartedly watching the State of the Union address right now. What a cynic I’ve become. My younger self would be shocked and saddened to learn how I’ve come to view these annual addresses as little more than a game of charades. The President (not just Obama, but his predecessors, too) reads a carefully and […]

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Why We All Lose If the Fed Wins

So let’s pretend for the moment that the Federal Reserve gets everything it has stated it wants.  And even further, that Washington, D.C. gets everything it wants, too. The credit markets are repaired, and massive new loan growth flows out the door.  Loans are made to businesses that hire gobs of new people.  Consumers borrow […]

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The Fed Can Only Fail

The basic predicament we are in is that the current crop of leaders in the halls of monetary and political power do not appear to understand the dimensions of our situation. The mind-boggling part about all this is that it’s not really all that hard to grasp. Our collective predicament is simply this: Nothing can grow […]

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The Periphery is Failing

“For years we’ve preached the From the Outside In principle of markets: When trouble starts, it nearly always does so out in the weaker periphery before creeping towards the core. We saw this in the run-up to the housing bubble collapse, as sub-prime mortgages gave way before prime loans, and in Europe, as smaller economies […]

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Why We All Lose If the Fed Wins

“So let’s pretend for the moment that the Federal Reserve gets everything it has stated it wants.  And even further, that Washington, D.C. gets everything it wants, too. The credit markets are repaired, and massive new loan growth flows out the door.  Loans are made to businesses that hire gobs of new people.  Consumers borrow […]

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PM End of Week Market Commentary – 8/10/2013

“Gold finished Friday up $1.50 on light volume to 1313.50, with silver up $0.30 to 20.51 on good volume.  The gold/silver ratio dropped to 64.04, below its 50 day MA.  Gold is at its 50 day MA while silver closed above its 50 day MA for the first time since Feburary 6 2013.  Over the […]

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