Allow me to translate the risible claims of Jay Powell and Janet Yellen that their stimulus policies haven’t boosted wealth inequality to the moon: “Let them eat cake.” The euphoria of ever greater monetary and fiscal stimulus overlooks the diminishing returns and higher risks generated
The consensus is that asset inflation is unstoppable and forever. History begs to differ. Not unsurprisingly, people want a binary option: do we get deflation or inflation?Unfortunately, reality is messy. Broadly speaking, globalization is deflationary as capital seeks the lowest cost labor, parts and materials,
Yet it still comes as a great surprise to everyone when ‘doing more of what’s failed spectacularly’ ends up collapsing the whole rotten structure. Systems and nations are designed to fail without anyone even noticing: nobody set out to design the current broken system to
If you don’t discern any of these dynamics in the present, what are you choosing not to see? The reason why history rhymes is that humanity is still using Wetware 1.0 and so humans respond to scarcity, abundance and conflicts over them in the same
Is that a red flashing light on the control panel of “the man behind the curtain”? Among the many “interesting” (a safe word to use in perilous times) signs and portents swirling around us, here are five financial tidbits “of interest.” What do they mean?