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The Big Bear is Back and Papa Powell’s on the Prowl!
We now have solid confirmation that the bear market did not go away and that the rally that began in October was just another typical bear-market rally. Look at the three graphs below to see how perfectly it fits the pattern of all the other bear-market rallies this year, which means we are heading down […]
MN Gordon: Why Bonds Are Behaving Like Risky Assets
“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
Epocalypse Revisted: The Entire Global Economy is Breaking Up on the Rocks
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 […]
