We have been watching, with disbelief and bemusement, how the “recovery-narrative” has been touted in the financial media and among some economists and analysts. Categorically, an economic recovery is a period of expansion, where we eventually exceed the previous peak in employment and output. There’s no such thing coming (anytime soon). It is very human…

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Insanity is doing the same thing over and over again, but expecting different results. Federal Reserve Chairman Jerome Powell announced on Thursday that the Fed will now shift its focus from hitting inflation targets and instead prioritize closing “unemployment shortfalls”. This gives it the aircover to do “whatever it takes” until the unemployment rate is…

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In 1976, economist Herbert Stein, father of Ben Stein, the economics professor in Ferris Bueller’s Day Off, observed that U.S. government debt was on an unsustainable trajectory.  He, thus, established Stein’s Law: “If something cannot go on forever, it will stop.” Stein may have been right in theory.  Yet the unsustainable trend of U.S. government…

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www.zerohedge.com Soaring financial markets are blithely indifferent to lingering vulnerabilities in the US economy. But the impact of consumers’ fear of COVID-19 on pandemic-sensitive services are unlikely to subside, undermining the case for the uninterrupted recovery that investors seem to expect. The double dip is not a dance. It is the time-honored tendency of the US economy to…

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Central banks are killing our currency to protect the already-rich… In our recent article It’s Time To Position For The Endgame, Chris Martenson explained how the US Federal Reserve and its sister central banks around the world have been engaged in the largest and most egregious wealth transfer in all of history — one that has…

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Readers may recall in April that Norway’s sovereign wealth fund, the world’s biggest, posted record losses for 1Q20 as the virus pandemic wreaked havoc on global markets.  For more color on the losses, the $1.15 trillion sovereign wealth fund posted a $21.27 billion loss (-3.4%) over the first half of 2020.  Citing “major fluctuations” in equity markets, Deputy CEO of Norges Bank Investment Management Trond Grande said…

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