In the next 12 months, an astonishing amount of debt is maturing. But what's truly alarming isn't just the sheer volume; it's the interest due on this matured debt.from Peak Prosperity https://ift.tt/Kov3HIM
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There was a book I read, long ago, entitled "A Distant Mirror, The Calamitous 14th Century" (wiki:archive) by Barbara Tuchman. As I think back to this book and the vibe it gave me, this feels (emotionally) exactly like the period we are living through today - most especially the part about the stupidity of the ruling class.
The following are excerpts from Mr. Verdun’s book, “Mass Formation: 2nd Look: Propaganda, Resonance, Resistance” Insights from the Goebbels Diaries An insight into the dead end of reality-denying totalitarianism comes from, perhaps inadvertently, Joseph Goebbels, the stalwart Nazi propaganda minister—and, for the last day of his life, Chancellor of the Third Reich. (His chancellorship […]
Looking backward to the future In one of the boxes of inherited family archives filled with scrapbooks, photo albums, odd letters, and more than a few pictures of people whose names are lost or completely forgotten, there is one item I have always found of interest. This is a book titled “Log Book of a […]
This week on Off The Cuff Michael Gayed, CFA, and I discussed his views on the markets, the economy, and where they are headed. Michael thinks there’s a “credit event” coming that will shake it all up. What’s a credit event? That’s a “Lehman moment” or a string of bank failures that cascade to other […]
The BRICs conference in South Africa was a game-changer. With so many new additions I guess the new acronym is BRICSEAEUSI. With the new additions, there is an even larger gap now. The little kids have all joined up and grown up and now they are the big kids.
There were just two reports this week among those I track, in addition to the banking stats: Durable Goods (DGORDER): -15B (-5.15% m/m); decline after a new all-time high. Median New Home Sale Price (MSPNHSUS): 437k +20k (+4.58% m/m); rebound after 12-month $80k decline. Bank Credit (TOTBKCR): +7B (+0.04% w/w); flat, deflationary. Fed Balance Sheet […]
Advice: watch and wait. Watch MSM (try to measure the shriek volume), and measure the Big Money moves too. Big Money always moves in advance of events. They always know. They are probably the most reliable indicator - but the Biden-Handlers will probably be floating trial balloons along the way too. Assuming this is the plan.