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Earth’s Economy Glorifies Waste, Exploitation, Debt, Expediency and Magical Thinking

by Charles Hugh Smith, Of Two Minds:

Humanity appears to default to magical thinking when faced with untenable situations that demand systemic change.

How would extraterrestrial anthropologists characterize Earth’s dominant socio-economic system? It’s not difficult to imagine their dismaying report:

“Earth’s economy glorifies waste. Its economists rejoice when a product is disposed as […]

Death, Debt, Devaluation and Taxes

by Gary Christenson, Deviant Investor:

Death: It comes to all of us, including empires, paper currencies and countries.

Debt: The world is drowning in debt – $150 to $200 trillion. The U.S. government is sinking into a black hole of debt – $20 trillion official and another $100 – $200 trillion in unfunded […]

At This Current Pace, A Record-Shattering 2.4 Trillion Dollars Will Be Added To The National Debt This Year

by Michael Snyder, End Of The American Dream:

Barack Obama is about to become the 20 trillion dollar man. With less than two months to go in his second term, the U.S. national debt stands less than 150 billion dollars away from the 20 trillion dollar mark. And at the pace that the […]

Silver, Debt, and Deficits – From an Election Year Perspective

by Gary Christenson, Deviant Investor:

It is an election year. We should anticipate 8 years of upcoming trauma, following nearly 8 years of “hope and change,” after 8 years of “no nation building,” after 8 years of “I did not have sexual relations with that woman.”

Examine the official US national debt in […]

$20 Trillion in Debt, Who Cares!? Just Numbers On A Screen | McAlvany Commentary 2016

from McAlvany Financial:

The Debt Trap Is Global – Mike Maloney

from GoldSilver (w/ Mike Maloney):

John Rubino – When in Doubt Go Into More Debt

by Kerry Lutz, Financial Survival Network:

Trace Mayer has been in on the Bitcoin band wagon since its inception. He’s seen it go to $1200 and then back down to $187 and now it’s headed back up. A few days ago it was trading at nearly $800 and now it’s just below $700. What […]

Wolf Richter: The Economy Is Cracking Under Too Much Debt

from ChrisMartensondotcom:

Drowning In Debt: 35 Percent Of All Americans Have Debt That Is At Least 180 Days Past Due

by Michael Snyder, The Economic Collapse Blog:

More than a third of all Americans can’t pay their debts. I don’t know about you, but to me that is a shocking figure. As you will see below, 35 percent of the people living in this country have debt in collections. When a debt is in […]

HILLARY: DECEIT, DEBT, DELUSIONS (PART TWO)

from The Burning Platform:

In Part One of this article I addressed the deceit of Hillary Clinton and politicians of all stripes as they promise goodies they can never pay for, in order to buy votes and expand their power and control over our lives.

I created the chart below for an article I […]

World Gone Mad, Part 1: “Huge Demand” To Lend Italy Money For 50 Years

by John Rubino, Dollar Collapse:

You read that right. Not only is Italy selling 50-year bonds, but people are lining up buy them.

Italy’s first 50-year bond sale had huge demand

(Reuters) – Italy sold its first 50-year bond on Tuesday as some investors bet the European Central Bank may soon add ultra-long debt […]

It’s Official: US Government Ends Fiscal Year With $1.4 trillion Debt Increase

by Simon Black, Sovereign Man:

It’s official.

The United States government closed out the 2016 fiscal year that ended a few days ago on Friday September 30th with a debt level of $19,573,444,713,936.79.

That’s an increase of $1,422,827,047,452.46 over last year’s fiscal year close.

Incredible. By the way, that debt growth amounts to roughly […]

The Global Economic Crash IS Imminent-Are You Prepared?

by Dave Hodges, The Common Sense Show:

When the Titanic was sinking, who did they save? They saved 70% of the wealthy as they were the ones that got into the life boats while the coach passengers were locked into steerage in which only 10% of those poor persons survived. This is exactly what […]

Why the Coming Wave of Defaults Will Be Devastating

by Charles Hugh Smith, Of Two Minds:

Without the stimulus of ever-rising credit, the global economy craters in a self-reinforcing cycle of defaults, deleveraging and collapsing debt-based consumption.

In an economy based on borrowing, i.e. credit a.k.a. debt, loan defaults and deleveraging (reducing leverage and debt loads) matter. Consider this chart of total credit […]

US Federal Debt Expanding at Fastest Rate Since the Crisis

by Simon Black, Sovereign Man:

A few days ago, the federal debt of the United States rather quietly and unceremoniously passed the $19.5 trillion mark.

And while that figure may seem absolutely confounding, what’s even more alarming is how rapidly the US government is racking up this debt.

In fact, for the 2016 fiscal […]

Global Bond Bubble has Finally Reached its Apogee

by Michael Pento, Market Oracle:

Boston Fed President Eric Rosengren recently rattled markets when he warned that low-interest rates were increasing the temperature of the U.S. economy, which now runs the risk of overheating. That sunny opinion was echoed by several other Federal Reserve officials who are trying to portray an economy that is […]

China SELLOFF Most U.S. Debt Since 2013! U.S. Dollar Suffers as Yuan Gains!

from Money GPS: