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The Great Recession never ended. I say that because the deep economic flaws that caused it were never corrected. All recovery efforts since merely clouded our eyes to the problems growing larger around us, even making them worse, and now we are going back into the belly of the Great Recession.
As noted in my last article, “Fed Loses Control of its Benchmark Interest,” bank liquidity strains are written all over this month’s troubles. Some may find that hard to believe because there is so much hot air (fiat money) still floating the system from a historical standpoint. There is a sound fundamental reason, however, that […]
Well, that didn’t take long! Four days ago, I stated the following in an article titled “Why are Bonds Going for Broke?“: Central banks are losing control, and are admitting they don’t even understand what is happening.
Pretty good if you ask me. Most economic indicators this year have moved relentlessly in the direction of recession, and now the Cass Freight Index is saying a US recession may start in the 3rd quarter, fitting up nicely to my prediction that we would be entering recession this summer.
A journey in photos and facts to compare the present Great Recession with the past Great Depression to gain perspective on where we might be headed.
Yes, this is as far as they got, as far as true normalization ever will go. Central banks are more done than you might imagine they would ever admit! Yet, admit they do … in a major way. Powell gave big hints in his latest speech of what the “new normal” will have to be. […]
We are in the end time of an unprecedented era of financial expansion — the greatest expansion of the world’s money supply ever attempted, expansion of the Federal Reserve’s vast and unchecked powers far beyond what the Fed could do before the financial crisis, and super-sizing expansion of banks that were already way too big […]
In a surprisingly candid admission, two former Federal Reserve chairs have stated that the Federal Reserve alone is responsible for creating all recessions in the United States. First, former Fed Chair Ben Bernanke said that Expansions don’t die of old age. They get murdered. MarketWatch To clarify this statement, former Chair Janet Yellen placed the […]
Make no mistake about it, there’s real fear and panic out there as markets are dislocating to the downside…. But note that on many charts we are showing 2008/2009 like conditions, something that is entirely inconsistent with the earnings and economic data we’re still seeing: It’s almost as if markets are pricing in a financial […]
The Big Bear is back. Ursa Major is in the house of the rising sun, and Taurus is in the house of the setting sun. Those are bad signs for investors who are now daily diving into their horoscopes. The market is pouring out of an inverted Big Dipper, otherwise known as the Big Bear […]
As we pass from early summer into late summer today, stocks on all the major indices open the day on the slide. The “Tech Wreck,” as it is being called, has been noted by many, as I’ll detail here. That is in spite of the fact that the last of the great FAANGS just reported […]
While glowing presidential proclamations about US GDP growth last week did nothing to prevent the stock market from rushing headlong over the cusps of a FAANG stock ledge, the market is taking a breather today. So, let’s take a breather and go back and look at why that GDP report had no bite.
First I said I believed the US stock market would plunge in January, but I also said that January would not be the biggest drop, but just the first plunge that begins a global economic collapse: the big trouble for the economy and the stock market, I said, would show up in “early summer.” That’s when the […]
As a Matter of INTEREST, Talk of Inflation Fear, the Fed’s Perfect Unwind, Concern about Wages is ALL Economic Denial
The Federal Reserve is now hacking its own zombie recovery to death and eating it by reversing the actions it employed to create this artificially supported recovery. Each time the Fed unwinds its balance sheet, 10-year bond rates recoil, and the stock market dances along in countermoves and wild swings. The main theme of my […]