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The road for both global capital and the State is narrowing to a rocky trail that leads to a cliff. by Charles Hugh Smith, Of Two Minds: We turn to cycles–business, solar, Kondratieff, etc.–to understand current events. But what if this era is not just a cycle but the terminal phase of Global Capitalism 1.0? This heretical thought arises from the school of economic history pursued by Fernand Braudel and those he inspired. I [...] From Charles Hugh Smith: Inflation is generally viewed as a monetary phenomenon (print money excessively and you get inflation), but let’s use a very simple definition: any loss of purchasing power. If your income buys fewer goods and services, for whatever mix of reasons (geopolitical, weather, monetary, fiscal, etc.), that’s inflation “on the ground.” Consider this breakdown of the components that together make up the standard measure of inflation, the Consumer Price Index [...] by Charles Hugh Smith
We are on the downslope side of the Grand Cycle Top in Everything.
Our Chartist Friend From Pittsburgh has assembled an epic collection of 31 charts illustrating what I call the Grand Cycle Top in Everything: Destruction Of The Dome. The collection demonstrates his charting system, Curvilinear Wave Analysis: A Charting Method For The 21st Century. Here are two examples: I highly recommend viewing all 31 charts, as they provide a context for what lies ahead in [...] A really good article from the employer’s point of view, about hiring. Well worth reading. By the brilliant, out-of-the-box thinker, Charles Hugh Smith: Dear Person Seeking a Job: Why I Can’t Hire You (July 3, 2012) Published on Apr 30, 2012 by GordonTLong Gordon T Long and Charles Hugh Smith discuss GENERATIONAL CYCLES in Economics and Financial Markets.
From Charles Hugh Smith: The Ministry of Propaganda and its media minions are announcing that “job growth is on a tear” and the “best growth since 2006.” How about we look under the hood of the employment euphoria? Here is an example of the Ministry’s work: Best U.S. employment growth in 12 years – Almost all the data agree – labor market’s on a tear. Over the past six months, the number of [...] From Charles Hugh Smith: … Given my focus on health and the perverse sickcare system, I read the following article with deep interest. I am indebted to longtime correspondent Joel M. for forwarding it to me:How Doctors Die by Ken Murray M.D. “Years ago, Charlie, a highly-respected orthopedist and a mentor of mine, found a lump in his stomach. He had a surgeon explore the area, and the diagnosis was pancreatic cancer. This [...] by Charles Hugh Smith from Of Two Minds The Truth Hurts–And Heals Confidence in a systemically corrupt financial system cannot be restored without a complete public exposure of all the lies, fraud, misinformation and complicity. The truth has a unique sting, and an equally unique ability to heal the destruction wrought by dishonesty, fraud and lies. The truth hurts, because the daylight of truth demands changes that the self-serving and those in denial desperately [...] by Charles Hugh Smith from Of Two Minds It’s Your Choice, Europe: Rebel Against the Banks or Accept Debt-Serfdom The European debt Bubble has burst, and the repricing of risk and debt cannot be put back in the bottle. It’s really this simple, Europe: either rebel against the banks or accept decades of debt-serfdom. All the millions of words published about the European debt crisis can be distilled down a handful of simple dynamics. Once [...] by charleshughsmith That the American and global economies are being transformed by the forces of globalization, demographics, and over-indebtedness is self-evident. What is less self-evident is the impact this transformation will have on the future of work, earned income, and financial security. The key question an increasingly vulnerable workforce is asking is:What skills will be in demand once this transition occurs? In order to answer this question, it’s necessary to understand the macro trends that [...] by Charles Hugh Smith from Of Two Minds Next In Line for Implosion: Pension Plans Pension plans are based on 8% annual growth forever. What happens to these plans in a zero-interest rate world as the global economy and stock markets contract? I’m afraid it’s time for an intervention. I don’t enjoy being the bearer of difficult news, but now that Europe has stumbled drunkenly into the pool and been “rescued,” it’s once again [...] [Today's post marks the debut of our first new contributing editor, Charles Hugh Smith, as part of our recently-announced increased content initiative for the site. Our intent is to provide more frequent, more timely, and more in-depth analysis from both Chris and notable minds that we and our readership respect. -- Adam] Europe’s fiscal and debt crises have dominated the financial news for months, and with good reason. The [...] by Charles Hugh Smith from Of Two Minds The Fed Cannot Stave Off the Inevitable Market Revaluation The Fed has yet to learn that you can’t fool Mother Nature for very long, but it’s about to get a punishing lesson. Did the Federal Reserve’s QE2 program last year simply push the inevitable stock market decline forward a few months? It would seem so. In Remind Us Again Why Anyone Should [...] by Charles Hugh Smith from Of Two Minds The Promises That Cannot Be Kept The government’s promises, for pensions and healthcare and everything else, cannot be kept. We as a nation will eventually have to have a truthful conversation about that reality. The fact that the Federal government cannot possibly fund the entitlement/ benefit programs that have been promised to the citizenry is well-known, but remarkably [...] by Charles Hugh Smith from Of Two Minds A Classic Technical Signal: China Breaks Down China’s stock market has broken a long-term flag to the downside. Look out below. Since “the China Story” is the foundation of global growth, demand for commodities and ultimately, stock market profits, when China’s stock market breaks down it behooves us to pay attention. Technical analysis offers a number of tools to help us [...] by Charles Smith The hubris of the Federal Reserve knows no bounds; the Fed Governors’ delusions will lead to tragic failure. In the tragi-comic farce that is the U.S. economy, the Federal Reserve plays the part of the hubris-soaked Hero whose overconfident meddling triggers ruin. Entire volumes could be written about the folly of the Federal Reserve’s policies, but I will limit this to two specific points of a general nature. Many [...] by Charles Hugh Smith from Of Two Minds $6.5 Trillion Lost, One House At A Time The $6.5 trillion lost in the bursting of the housing bubble is not a “paper loss,” it is tragically real. Is anyone surprised that housing continues to slide? According to this report, Home Market Takes a Tumble: Turnaround More Distant After 3% Drop, Steepest Quarterly Decline Since 2008, housing has declined in value for 57 straight months, almost 5 [...] It may sound a little callous and abrasive to even be suspicious of Obama’s choice of churches for Easter Sunday 2011, but given the climate of the media bias so overwhelmingly in favor of casting Obama in the best light possible, the regular media professionals can’t be trusted to actually do some basic reporting. The one and only detail reported about Shiloh Baptist Church was that [...] WASHINGTON – President Barack Obama and his family attended Easter service Sunday at a Washington church founded in 1863 by freed slaves. The first family entered Shiloh Baptist Church to a round of applause on a sun-splashed day in the nation’s capital as members of a choir dressed in black, white and gold sang “Total Praise.” Obama shook a few hands and hugged some members of the congregation [...] by Charles Hugh Smith from Of Two Minds The Fundamental Injustice That Is Poisoning the Nation The guilty are powerful and free, the innocent burdened and oppressed: that is injustice. There is a fundamental injustice that is poisoning the soul of the nation, and if it is not openly addressed then the nation will face the explosive consequences of institutionalized injustice. Simply put, it is this: those responsible for [...] by Charles Hugh Smith from Of Two Minds Obama Will Lose in 2012 Predicting that Obama will be a one-term president is easy: Americans vote their pocketbooks. There is nothing remotely ideological or personal in my prediction that President Obama will lose the 2012 election. Both parties are equally out of touch with reality in my view, and both suppport the same things: a global Empire, an increasingly intrusive Savior [...] |
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