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“Remember that the market is a forward-looking indicator. Ideally, it is pricing in the gains of the next six to 18 months.” (Seeking Alpha) Famous last words again and again. That sunny advice about today’s overpriced market was repeated again about a week ago. It is the same excuse that was routinely deployed at the […]
After each year closes, I typically grade myself on the predictions I made for that year. My last set of predictions were written near the end of June, during our reopening from the COVID lockdowns, for the second half: “2020 Economic Predictions: This Series of Unfortunate Events Guarantees the Epocalypse.” I led off with this […]
The big talk among economists and central banksters and some politicians in 2020 has shifted toward how the Coronacrisis will (or “must”) result in a global financial/social reset. I’ve said for years we can anticipate central bank digital currencies (even before that term existed) to happen in conjunction with a global financial reset. Now we […]
We are now seeing the most euphoric stock stock market in history — a market as precariously perched as the one I laid out last January. “Market Euphoria Surpasses Dot Com Levels” says one headline. There is another way of putting it: extreme euphoria. Zero Hedge
The major knock-on effects of the COVID shutdown are now starting to stack against each other, pushing city centers into the dust. Here are some of the big moves that are as characteristic of the US as they are of the world overall.
I mentioned in a recent article that the weird thing about this recession is that it is the only one in which personal income has gone up during a recession. That, of course, is because of government assistance, which is making it so we don’t have to feel the pain of a recession that the […]
Try to remember the kind of September, When life was slow and oh so mellow. Try to remember the kind of September When grass was green and grain was yellow. Try to remember the kind of September When you were a tender and callow fellow…. –Tom Jones
One of my reasons I started this website years ago was to counter all the denial that I saw in the mainstream media about how long and deep the problems from the Great Financial Crisis would be and about how we were failing in every way to resolve the greed, decay and especially faulty thinking […]
Measured by the common man (or common girl), we’re on the road to ruin. The US has been in decline for decades, but you can’t see that by looking at stocks. You can’t tell it from those who lie about the economy to make their living, but look at longterm real numbers, and you see […]
These pictures are worth thousands of words:
The coronavirus pandemic inflicted a “swift and massive shock” that has caused the broadest collapse of the global economy since 1870 despite unprecedented government support, the World Bank said.… “This is a deeply sobering outlook, with the crisis likely to leave long-lasting scars and pose major global challenges,” said World Bank Group Vice President for […]
We are nearing that mid-point in July when I said we would start to see the news turn from euphoria-inducing reopening positives to depression-developing realism. Speaking of stock-market bulls who are stampeding uphill on the euphoria side, I wrote, Right now the farce is with them — reopening has arrived! And these stupid people will […]
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The troubles listed here in my 2020 economic predictions are so severe and so likely to get even worse that it’s more difficult to imagine they won’t get worse than to believe they will. Just a few of these misfortunes would be enough to plunge us into an abyss of social and financial catastrophes.