• Gold Standard I...
    07/28/2015 - 04:17
    Greece has no future, so long as it clings to the euro. The dollar won't servce you much better. A drachma will only harm the Greek people. That leaves one other option.

Demographics

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Attention America's Suburbs: You Have Just Been Annexed





It’s difficult to say what’s more striking about President Obama’s Affirmatively Furthering Fair Housing (AFFH) regulation: its breathtaking radicalism, the refusal of the press to cover it, or its potential political ramifications. The danger AFFH poses to Democrats explains why the press barely mentions it. This lack of curiosity, in turn, explains why the revolutionary nature of the rule has not been properly understood. It will take time for the truth to emerge. Just by issuing AFFH, the Obama administration has effectively annexed America’s suburbs to its cities. The old American practice of local self-rule is gone. We’ve switched over to a federally controlled regionalist system. Now it’s strictly a question of how obvious Obama and the Democrats want to make this change — and when they intend to bring the hammer down.

 
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Portugal’s Debts Are (Also) Unsustainable





Everyone seems to be focusing on Greece these days – a country so indebted that it needs even more loans to repay just a fraction of its gigantic credits. Clearly this is unsustainable and something has to give. Even the IMF agrees. But what about the other Southern European countries? Actually, Portugal’s financial situation is looking particularly shaky, and any hiccups could have serious cross-border repercussions from Madrid all the way to Berlin.

 
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Beware: The "Made In China" Global Recession Is Coming, Morgan Stanley Warns





"Over the next couple of years, China is likely to be the biggest source of vulnerability for the global economy."

 
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Immigration Policy Must Be Decentralized





Last month, the United States Supreme Court declined to take up a case involving Arizona’s and Kansas’s attempts to require proof of citizenship to vote in federal elections. The refusal of the Supreme Court to hear the case yet again sends a message to state and local governments that the federal government shall continue to centrally direct election and immigration law. The net effect is an imposition of a migrant subsidy scheme across all states regardless of the local economic and demographic realities, while ignoring the fact that residents of certain states bear a greater tax burden in subsidizing migrants.

 
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The New American Dream: No Jobs For The Young, No Retirement For The Old





The reality is that financial insecurity is rising for everyone...

 
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The Fourth Turning – An Interview With Neil Howe





"...If the S&P500 were to come down by 50% look at the bright side. The Millennial generation can finally buy into America’s future at a good price. Look at what they are facing right now: very little return on their savings and very lofty prices that they have to pay to invest in their future.  So we often forget that these wrenching dislocating financial events, particularly for older generations, can create opportunities for the young, and often create space for something more durable for the times to be built. So I’ll just summarize it with Schumpeter’s phrase: creative destruction. That’s how I prefer to see what happens in a Fourth Turning."

 
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The Coming Era Of Pension Poverty





Assuming "growth" will fund all promised pensions and entitlements is magical thinking. We're going to have to do better than indulge our Spoiled Brat Economy mindset because "we wuz promised." What we were promised based on faulty assumptions, faulty projections and wishful thinking no longer matters.

 
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Guest Post: America's Obamacare Nightmare Is Just Beginning





"A judicial victory doesn’t automatically translate into a political victory, let alone a policy success."

In a free society, debate is over only when the people decide it’s over.

 
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Even The Banks Admit: "The Wacky Has Become The Norm"





"Investors have experienced many mood swings, some institutionalized irrationality, as well as treacherous trading conditions in the first six months of 2015. The wacky has become the norm."

 
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American Babies Are No Longer Mostly White





"Racial and ethnic minorities now surpass non-Hispanic whites as the largest group of American children under 5 years old, the Census Bureau said Thursday. The demographic rise of minorities comes at a time when heightened racial tensions make headlines from St. Louis to Charleston, South Carolina, and as minorities lag in education, earnings and labor market outcomes."

 
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Simple Solution to the Great Paradox





Markets that have been cut off from the monetary spigot often present far better opportunities...

 
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The "Global Macro Investor" - An Interview With Raoul Pal





"We have a problem with this, and that is central bank hubris. They now think that they are omnipotent, because, essentially the government has said we are going to pass over all control of the economy to the central banks, they say to everybody else including financial market participants that “you don’t know, you don’t understand, we have our models and they are right”. And that kind of hubristic approach is when you sow the seeds of your own destruction."

 
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For Millennials, The Homeownership Dream Is Dying





Homeownership rates for young adults in America are projected to decline steadily through at least 2030, a study shows. Contributing factors are low wage growth, shifting demographics, and of course, student debt. 

 
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The Warren Buffet Economy, Part 2: Why Its Days Are Numbered





As we noted in Part 1, this central bank fueled boom will ultimately be paid for in the form of a prolonged deflationary contraction. On the morning after, of course, it will be asked why the central banks were permitted to engineer this fantastic financial and economic bubble. The short answer is that it was done so that monetary central planners could smooth and optimize the business cycle and save world capitalism from its purported tendency toward instability, underperformance and depressionary collapse. In Part 2, the whole case for this sweeping and unprecedented Keynesian demand management by the monetary authorities was a crock. Accordingly, the days of the Warren Buffet economy are indeed numbered.

 
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