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09/29/20 – Charles Hugh Smith: Helicopter Money and the End of Taxes

Rather than right the ship, the “easy fix” is to distribute “free money”–not just to billionaires and corporations but to everyone. The system of collecting taxes and distributing the dough is a zero-sum game: each dollar of tax revenue paid by someone and given to someone else is one dollar that the taxpayer will no longer have to save or spend. Meanwhile, the recipient received a dollar that would not have been available without taxes. Read More.

09/23/20 – Stephanie Landsman: Economist Stephen Roach issues new dollar crash warning, sees double-dip recession odds above 50%

Evidence supports ‘seemingly crazed idea’ that dollar will crash: Stephen Roach
Economist Stephen Roach warns next year will be brutal for the dollar. Not only does he see growing odds of a double-dip recession, the Yale University senior fellow believes his “seemingly crazed idea” that the dollar would crash shouldn’t be so crazy anymore. Read More.

09/22/20 – Kevin Stankiewicz: Billionaire Barry Diller calls stock market ‘great speculation,’ urges everyone to save cash

Billionaire media mogul Barry Diller on Tuesday urged investors to maintain sizable cash positions following the stock market’s robust rally from coronavirus-induced lows in late March. “Personally, and professionally, every nickel you can, keep it … wherever it’s banked,” the chairman of both Expedia and digital media group IAC said on CNBC’s “Squawk Box.” Read More.

09/22/20 – Chris Martenson: Collapse Is A Process, Not An Event

Look, I’m a systems guy. I think in systems terms. You should as well. Why? Because we’re entering a period of time when the major systems that have supported  humanity are going to fail. Or, put more accurately: they are already failing. As just one example, our monetary system delivers outsized gains to the already stupendously-wealthy while piling up massive debts on the backs of we citizens, both born and yet-to-be-born. Read More.

09/13/20 – Peter Schiff: Is the Fed Setting Us Up for a Return to the Inflation of the 1970s?

Last month, the Federal Reserve moved its inflation goalposts. Is it setting us up for a return to the inflation of the 1970s? During a speech at Jackson Hole, Federal Reserve Chairman Jerome Powell announced new policy guidance for how it addresses price inflation. In the past, the central bank has targeted a 2% inflation rate as measured by CPI. Now it will shift to “average inflation targeting.” Read More.

09/10/20 – Andrew Moran: The Fed Promises More Dollar Destruction

The Federal Reserve has potentially had the most memorable year in its more than a century–long history. What started out as a year of “Will they or won’t they cut interest rates?” blossomed into a time of slashing rates to near zero, unleashing unlimited quantitative easing, purchasing corporate and municipal bonds, and growing its balance sheet to a record high. Now, as the economic consequences from the covid-19 pandemic linger, the Fed has taken advantage of the crisis to modify its policies to be more expansionary—which will inevitably blow bubbles and wreak havoc on households everywhere. Read More.

09/08/20 – Tuomas Malinen: There is no recovery

Central banks, China, Financial crisis, Global depression, Global economy, Recession
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). Read More.

09/07/20 – Daniel Lacalle: Bankruptcies Rise Despite Trillions in New Liquidity

Misguided lockdowns have destroyed the global economy and the impact is likely to last for years. The fallacy of the “lives or the economy” argument is evident now that we see that countries like Taiwan, South Korea, Austria, Sweden, and Holland have been able to preserve the business fabric and the economy while doing a much better job managing the pandemic than countries with severe lockdowns. Read More.