Category Archives: Business

Underestimating Them and Overestimating Us, by Jim Quinn

People, including SLL, have been saying a cataclysmic crisis is coming for years. It hasn’t happened yet, but that doesn’t make them wrong, just early. From Jim Quinn at theburningplatform.com:

“Do not underestimate the ‘power of underestimation’. They can’t stop you, if they don’t see you coming.” ― Izey Victoria Odiase

Image result for bernanke, yellen, powell

During the summer of 2008 I was writing articles a few times per week predicting an economic catastrophe and a banking crisis. When the biggest financial crisis since the Great Depression swept across the world, resulting in double digit unemployment, a 50% stock market crash in a matter of months, millions of home foreclosures, and the virtual insolvency of the criminal Wall Street banks, my predictions were vindicated. I was pretty smug and sure the start of this Fourth Turning would follow the path of the last Crisis, with a Greater Depression, economic disaster and war.

In the summer of 2008, the national debt stood at $9.4 trillion, which amounted to 65% of GDP. Total credit market debt peaked at $54 trillion. Consumer debt peaked at $2.7 trillion. Mortgage debt crested at $14.8 trillion. The Federal Reserve balance sheet had been static at or below $900 billion for years.

Continue reading→

Advertisements

Doug Casey on Electric and Self-Driving Vehicles, Part I

Doug Casey is more bullish on electric and self-driving cars than Eric Peters. From Casey at caseyresearch.com:

Chris’ note: We’re in the middle of a revolutionary trend…

As we’ve been showing you, the car industry is rapidly changing because of two growing technologies: electric vehicles (EVs) and self-driving cars.

EVs aren’t like traditional vehicles. They run on electricity instead of gasoline or diesel.

Not long ago, just a few hundred of these vehicles existed. Now, there are nearly 5.1 million EVs on the roads… and that number grows by the day.

And self-driving cars are only becoming more popular as well. By next year, estimates say there’ll be 10 million self-driving cars in use.

In short, these technologies are the future. Even our founder, Doug Casey, thinks so. And when Doug gets excited about something, I get him on the phone to find out why.

Read on to see what Doug has to say about this megatrend… and don’t miss tomorrow’s Dispatch, when Doug and I finish this important discussion…


Chris: Doug, you’ve mentioned how electric vehicles [EVs] will become a huge deal. What makes you say that?

Doug: There’s no doubt that electric vehicles are going to put an end to the internal combustion engine [ICE]. I want to not only explain why – but some related changes that are much bigger, that almost nobody has thought about.

Continue reading

The Lights Went Out in California: That Was the Plan All Along, by Chuck Devore

The lights aren’t going out in California because of climate change, but rather because of stupid policies and decisions. From Chuck Devore at wattsupwiththat.com:

The power has been out in Northern California. More than 1 million Californians were without electricity, one of modern life’s essentials that is frequently taken for granted. The blackout was done on purpose—to prevent sparks from powerlines that could ignite deadly wildfires.

On the surface, the blackout and its causes are simple to understand. But the deeper causes are complicated, span decades of public policy, and dozens of overlapping unintended—and intended—consequences of decisions, both related and unrelated.

The wind in Northern California is blowing in from dry Nevada, as it often does this time of year. It’s called the “Diablo wind.” In Southern California, the comparable current blowing in from the Mojave Desert is known as the “Santa Ana winds.”

Continue reading

Will the Federal Reserve Make Trump a New Herbert Hoover? Is the US Economy Primed for a 1929-Style Shock? by F. William Engdahl

The US has so much debt that even a minor economic perturbation can cause an cataclysm. From F. William Engdahl at lewrockwell.com:

In recent months US President Trump has pointed repeatedly to his role in making the American economy the “best ever.” But behind the extreme highs of the stock market and the official government unemployment data, the US economy is primed for a 1929-style shock, a financial Tsunami that is more influenced by independent Fed actions than by anything that the White House has done since January 2017. At this point the parallels between one-time Republican President Herbert Hoover who presided over the great stock crash and economic depression that was created then by the Fed policies, and Trump in 2019 are looking ominously similar. It underscores that the real power lies with those who control our money, not elected politicians.

Despite proclamations to the contrary, the true state of the US economy is getting more precarious by the day. The Fed policies of Quantitative Easing and Zero Interest Rate Policy (ZIRP) implemented after the 2008 crash, contrary to claims, did little to directly rebuild the real US economy. Instead it funneled trillions to the very banks responsible for the 2007-8 real estate bubble. That “cheap money” in turn flowed to speculative high-return investment around the world. It created speculative bubbles in emerging market debt in countries like Turkey, Argentina, Brazil and even China. It created huge investment in high-risk debt, so called junk bonds, in the US corporate sector in areas like shale oil ventures or companies like Tesla. The Trump campaign promise of rebuilding America’s decaying infrastructure has gone nowhere and a divided Congress is not about to unite for the good of the nation at this point. The real indicator of the health of the real economy where real people struggle to make ends meet lies in the record levels of debt.

Continue reading

America 2019: Even the Wealthy Are Poorer in Everything That Matters, by Charles Hugh Smith

Just because you’re rich doesn’t mean you’re happy. From Charles Hugh Smith at oftwominds.com:

The price we’re paying to keep our heads above water steepens while the pay-off is dropping off a cliff.

A good friend related a story that goes directly to the heart of what’s broken in our way of life. My friend went to a reunion in Silicon Valley attended by the most successful cohort in America: super-smart, highly educated people in their mid-40s who have achieved the highest levels of professional accomplishment and built enormous financial wealth, with net worths not just in the millions but in many cases in the tens of millions of dollars.

These are people at the apex of the American economy and society, those who did everything right, worked hard and grasped the brass ring of conventional success.

Yet when the meeting broke into small groups and individuals were asked to speak briefly about their lives, more than a few people teared up and began weeping. My friend was struck by the disconnect between their tremendous success and their personal misery–of failed marriages, of being trapped in their jobs, in feeling their sacrifices weren’t worth it and in sensing the shallowness of their success and the poverty of their inner lives.

Continue reading

Secretary of Defense, Incorporated, by Danny Sjursen

The biggest revolving door in Washington is between defense contractors and those parts of the government dealing with military affairs. From Danny Sjursen at truthdig.com:

Secretary of Defense, IncorporatedU.S. Secretary of Defense Mark Esper. (Timothy D. Easley / AP)

The man is so beautifully bland. In fact, I’d wager that only a tiny segment of Americans could name the current Secretary of Defense—and far fewer could pick him out of a lineup. Perhaps that’s the point. President Trump, a celebrity ham, has tired of sharing the stage with big-name advisers such as Defense Secretary Jim Mattis and national security adviser John Bolton. So they’re both gone. In their place, Trump has installed faceless bureaucrats to run the most powerful national security state in human history. And the rest of us hardly notice.

Trump’s appointment of Mark Esper as head of the largest and most active Cabinet department, and the new Defense Secretary’s near unanimous approval by the U.S. Senate, is no less of a scandal than Trump’s apparent efforts to seek foreign interference in the 2020 elections. Only it isn’t.

Continue reading

Multiple Studies Show MMR & Pertussis Vaccine Failure – They’re Not Even Working, by Arjun Walla

It’s a conclusive argument against mandatory vaccinations if the vaccines don’t work, especially if the vaccines have dangerous heavy metals mercury and aluminum. From Arjun Walla at collective-evolution.com:

IN BRIEF
  • The Facts:Multiple studies show quite clearly that there is a problem with the MMR & Pertussis vaccines, and many others. What we may be seeing is a failing vaccine, and not a failure to vaccinate.
  • Reflect On:With the amount of information clearly showing how some vaccines are ineffective and in many cases causing injury, how is mandatory vaccination at all justifiable?

We are living in a day and age where there is a tremendous divide occurring among the populace on multiple subjects, one of them being vaccination. We are heavily marketed with the idea that vaccines are completely safe for everybody, that they save lives, and that the science is settled. This type of narrative comes straight from pharmaceutical companies and federal health regulatory agencies like the Centers for Disease Control (CDC).

Continue reading→