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The Daily Doom: Economic News of the Great Collapse

Posted October 5, 2022 By David Haggith

TOP STORIES IN TODAY’S ECONOMIC NEWS: Junk Market Bond Is Now Only Open to Familiar Firms Offering Sky-High Yields … Volcker Lesson: When Central Banks Tighten, Stock Recoveries Can Take Years … WTO warns ‘darkened’ trade outlook could deteriorate further in 2023 … 46 Trillion Dollars In Financial Wealth Has Already Been Lost …

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It’s Full Market Meltdown Mania and the Fire Truck Is on Fire

Posted October 4, 2022 By David Haggith
By Vmenkov (Own work) [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.0) or GFDL (http://www.gnu.org/copyleft/fdl.html)], via Wikimedia Commons

The stock market is smart in a dumb way, but it is currently unbelievably dumb in the way that it is smart. To understand that, you have to realize that today’s stock market is not a place for investing in businesses. It used to be that, but the players have all turned it into a […]

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MN Gordon: Why Bonds Are Behaving Like Risky Assets

Posted October 2, 2022 By Guest Contributor
Second Libert Loan Bond Ad

“When the [credit] delusion breaks, people all with one impulse hoard their money, banks all with one impulse hoard credit, and debt becomes debt again, as it always was.  Credit is ruined.” – Garet Garrett, 1932, A Bubble that Broke the World

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Epocalypse Revisted: The Entire Global Economy is Breaking Up on the Rocks

Posted October 1, 2022 By David Haggith
By Tairo Bonilla (Own work) [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons

The sails are torn and fluttering fiercely like flags in a windstorm. The ship has stopped slicing through the waves, and its timbers are shuddering on the rocks. You can hear the stony teeth chewing into her planks, but the captain and crew are passing around sherry glasses and raising a toast to the fine […]

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Down, Down, Down in a Burning Ring of Fire

Posted September 30, 2022 By David Haggith
Plane made of burning dollar bills symbolizes price inflation and the Fed moving to digital currency

The Dow plunged 686 points midday on Thursday and closed down 458, wiping out a large relief rally from the day before, and it went down for the key reason I laid out for understanding why the Fed will over-tighten and drive the economy into an extremely deep recession. A batch of economic data that […]

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MN Gordon: Facing Down a Wrath of Biblical Proportions

Posted September 25, 2022 By Guest Contributor

“The LORD sends poverty and wealth; he humbles and he exalts.”– 1 Samuel 2:7 An enterprising entrepreneur did a comedic graphic of Federal Reserve Chairman Jerome Powell captioned: “IN JPOW WE TRUST.” You may have seen it.…

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Bill Blain: Welcome to the New Age – Same Old, Same Old.. But Different!

Posted September 25, 2022 By Guest Contributor

The Old Age is over, and its welcome to the new, which is going to be little different – just a lot more complex. Thriving in a confused new economy of energy scarcity, inflation, recession and geopolitical threat isn’t easy – as the UK is about to discover.  by Bill Blain on Blain’s Morning Porridge: […]

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JB Shurk: Why the World Economic Forum’s Plutocracy Should Be Dissolved

Posted September 24, 2022 By Guest Contributor
Klaus Schwab on big screen at World Economic Forum

No matter how noble its stated intentions, the “Great Reset” is at its heart a program for driving political power away from individual citizens and toward the controlling interests of a small international class of financial elites. This shift in society’s balance of power has fundamentally changed the relationship between Western citizens and their national […]

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Why So Many Cling to Covid Panic

Posted September 24, 2022 By Guest Contributor

by Mark Oshinskie on Brownstone Institute: When I was 10, I had a 12-year-old sister, Denise, and two brothers. Lenny was 14 and Danny was 5. We boys slept in the same room in a small, single-story house in a modest, riverside neighborhood known as Pleasureland.  The neighborhood’s name derived from a nearby park with […]

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The Train Wreck is Already Happening

Posted September 21, 2022 By David Haggith
By Photo credited to the firm Levy & fils by this site. (It is credited to a photographer "Kuhn" by another publisher [1].) (the source was not disclosed by its uploader.) [Public domain], via Wikimedia Commons

Today the market paid back some of its delusional holdings. It has a lot more left to pay back. You see, the market believed the Fed all of last year when the Fed said inflation was transitory. Or, at least, market leaders sold the Fed’s narrative, accelerating us into a heck of wreck.

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Everyone Sings the “Strong Labor Market” Tune in Unison as the Band Plays on, and They’re All DEAD Wrong!

Posted September 18, 2022 By David Haggith
Illustration of the Titanic sinking with iceberg in background

Everyone in financial media is singing in unison, and the song they are all singing is a recessional for the recession — a hymn or musical piece sung while making an exit. It’s an attempt to make the recession recede from view, to talk it out of existence, to convince everyone that what is, is […]

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Charles Hugh Smith: Why This Recession Is Different

Posted September 18, 2022 By Guest Contributor

This time is different because we face structural dynamics that won’t go away in a few months or even years. This time is worse than anything we’ve ever faced in, at least, sixty years … maybe even worse than that…. by Charles Hugh Smith on Of Two Minds: Let’s explore what’s different now compared to […]

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