The Phaserl


War is Peace, Silver is Plentiful, and Other Misconceptions

Dr. Jeffrey Lewis,

The urgency for owning a financial put against the stupidity of central planners and politicians grows by the minute.

We continue to witness a multifaceted array of failure heaped upon failure while repeating history on a dramatic scale.

One of the great new wonders of the modern world is the credibility given to high profile economists.

Obviously, they have no skin in the game, as their predictive misses have the curious effect of giving them even more credibility.

The fact is that they have been caught wrong-footed with their constant predictions of an “imminent” economic surge justified by the tiny segment who nominally benefits from the various and ongoing monetary interventions.

Of course, for most Americans, a depression rages on.

The consensus is that the fall in global trade and decline in retail sales (despite the surge in utility usage and rise of Obamacare) is all about the weather or the election.

The monetary overlords have learned that the key to effective behavioral finance is to inject as many political hot buttons as necessary, ensuring that the real issues remain fully ensconced in the irrational.

Long forgotten is the fact that assets underlying oceans of financial assets can never be marked to market or real value.

The housing market has mushroomed yet again into another bubble and worldwide equity valuations surged to all time highs alongside massive unemployment, margin leverage, and a sinking Baltic dry index.

In the latest desperation to fuel the credit Ponzi in order to make room for a new source of REPO collateral, the incredible shrinking bond buying experiment is being forced into sequestration. Negative interest rates have arrived and appear here to stay.

Keeping the cost of money low further distorts as the flow of misallocated capital continues across sectors such as housing and oil.

And if that doesn’t work, there is always the war option.

Not only does war benefit the military industrial complex, but it also provides room for more bond buying and, hence, a cover for continued low interest rates.

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