Free Money

Albert Edwards: "Citizens Will Soon Turn Their Rage Towards Central Bankers"

"In an age of “radical uncertainty” how long will it be before angry citizens tire of blaming an impotent political system for their ills and turn on the main culprits for their poverty – unelected and virtually unaccountable central bankers? I expect central bank independence will be (and should be) the next casualty of the current political turmoil."

Stockman: Orange Is The New Black (Swan)

"Black swans are supposedly unexpected, stealthy and come of a sudden. But not this one — it is bright orange, and in your face day and night... I refer to the Donald, of course, and the fact that he is truly the Great Disrupter."

The Dead Giveaways Of Imperial Decline

Nothing is as permanent as we imagine... especially super-complex, super-costly, super-asymmetric and super-debt-dependent state/financial systems.

Debt Has No Consequences? Color Us Skeptical

"The entire status quo is based on the delusion that rapidly rising debt will never generate any negative consequences. Color me skeptical of that working out in the real world."

The Path To Inflation: "Helicopter Money"

The general view in inflation is dead, essentially forever. Maybe. Maybe not. The next recession won't be "fixed" with the central bank playbook of more free money for financiers.

Will The Crazy Global Debt Bubble Ever End?

We've been playing two games to mask insolvency: one is to pay the costs of rampant debt today by borrowing even more from future earnings, and the second is to create wealth out of thin air via asset bubbles. All the games end badly.