The virus pandemic’s economic hit has been particularly severe for millennials, considering many of them decided to get useless English degrees and rack up insurmountable student debt while choosing after college to become bartenders. As the story goes, in a post-pandemic world, the downturn has crushed the restaurant industry. … > weiter lesen
We have entered a period the likes of which we have never seen before. The collapse of the dollar and dollar assets is growing increasingly certain by the day. The money-printing of the dollar designed to inflate assets will end up destroying the dollar. We know this thanks to the … > weiter lesen
If you’re over 40 you’ve lived through at least three epic financial bubbles: junk bonds in the 1980s, tech stocks in the 1990s, and housing in the 2000s. Each was spectacular in its own way, and each threatened to take down the whole financial system when it burst. But they … > weiter lesen
“So, all those people who say there’s nothing to worry about, there’s no inflation, look what’s happening to labor costs. Look what’s happening to oil prices. Bond yields are rising despite weaker than expected economic data. All of this smells like stagflation. But the market doesn’t care because everything is … > weiter lesen
The Keynesian view that “more money in people’s pockets” will drive up consumer spending and economic growth has been wrong. It hasn’t happened in 40-years. Such was a lesson learned by Japan. From 1980 to the present, the Japanese economy has maintained an average growth rate of just 0.43%. For … > weiter lesen
“… Die Notenbanken können nie wieder zurück. Sie müssen das Gelddrucken und die Nullzinsen weiter führen. Und deshalb herrscht in ihren Etagen Panik: Die Notenbankchefs müssen fast wöchentlich versichern, dass sie weitermachen. Eben auf mindestens vier Jahre hinaus” weiterlesen hier
The Federal Reserve and the confederation of central banks which follow Chair Powell and his lieutenants at the Eccles Building have flooded the world with fiat script which is only limited by Keynesians’ and modern monetary theorists’ imaginations. In this flurry of metaphorical printing, one country, Russia, has loaded its … > weiter lesen
What better way to celebrate a new President than to push stocks to new all-time highs? On Wednesday, the market surged as Joe Biden got sworn in as the 46th President of the United States. Interestingly, it was a rotation from the reflation trade back into the “Old Gaurd” of … > weiter lesen
(CHRISTIAN ORTNER) Während sich gerade ziemlich viele eher grundlos davor fürchten, unfreiwillige Versuchskaninchen für den Corona-Impfstoff zu sein, werden sie in einem ganz anderen Kontext tatsächlich für ein Experiment mit ungewissem Ausgang missbraucht, das hunderte Millionen massiv berühren wird. Dabei geht es nicht um ihre Gesundheit, sondern um ihr Geld.… > weiter lesen
The Federal Reserve’s official target rate of inflation is 2% per year. Put another way, that means that if the Fed hits its target, the value of today’s dollar will only be worth around a third of its current value in 50 years. Think that can’t happen? It already has. … > weiter lesen