By Howard Kunstler As our politicos creep deeper into a legalistic wilderness hunting for phantoms of Russian collusion, nobody pays attention to the most dangerous force in American life: the unraveling financialization of the economy. Financialization is what happens when the people-in-charge “create” colossal sums of “money” out of nothing — by issuing loans, a.k.a. debt — and then cream …
One Man’s Opinion: Banks are becoming less safe. Again.
By Simon Black What I’m about to tell you isn’t some wild conspiracy. Or fake news. It’s raw fact, based on publicly available data from the US Federal Reserve. This data shows a very simple but concerning trend: banks in the United States are becoming less safe. Again. And they’re doing it on purpose. Again. Few people ever give much …
One Man’s Opinion: “This Insanity Is The Surest Sign The Stock Market Bubble Is Ready To Pop”
by Michael Snyder If everything is going to be “just fine”, why are so many big names in the financial community warning about an imminent meltdown? I don’t think that I have seen so many simultaneous warnings about a market crash since just before the great financial crisis of 2008. And at this point, you would have to be quite blind …
One Man’s Opinion: …And Now For The Bad News
By Simon Black In the late 1760s and early 1770s, the government of France was in a deep panic. They had recently suffered a disastrous and costly defeat in the Seven Years War, and the national budget was a complete mess. France had spent most of the previous century as the world’s dominant superpower, and the government budget reflected that …
One Man’s Opinion: Legendary Investor Asher Edelman Says “I Have No Doubt” PPT Behind Market Rally
By ZeroHedge Legendary vulture investor Asher Edelman, the 1980s model for Gordon Gekko, strayed into what must’ve been uncomfortable territory for CNBC during an appearance on “Smart Money” when he discussed his view that the government’s “plunge protection team” is the only thing propping up the current market rally, and said he suspects that it has again been recently een …
One Man’s Opinion: 1999 Called, They Want Their Stock Bubble Back…
By Simon Black File this one away under “Completely Obvious…” Last night the parent company of Snapchat reported a quarterly loss of more than TWO BILLION dollars. Snapchat, of course, is the photo-focused social networking app that’s adored by tweens and adults who still live with their parents. (Talk about a lucractive demographic.) The company IPO’d just a few months …