Authored by Charles Hugh Smith via OfTwoMinds blog,
Four monster waves are about to crash onto the Fed’s beach party and sweep away the unwary revelers.
Hey, is the water in the bay receding? Never mind, free drinks are on the Federal Reserve, so party on, life’s a beach, asset bubbles will never pop, we’re safe. Of course you are. The Fed is all-powerful and would never let a rogue wave turn all its precious phantom wealth into broken detritus.
The water is fast receding and a wave is visible if you care to look, but nobody cares to look. Why bother? The Fed is invincible, that’s all you need to know to mint another fortune.
Just to keep life interesting, let’s look anyway. Gordon Long and I discuss four monster waves that are about to crash onto the Fed’s beach party and sweep away the unwary revelers:
1. Declining liquidity: while everyone is focused on the Fed’s ceaselessly repeated reassurance that the liquidity spigot will never be closed, never ever ever, so party on, asset bubbles will never pop, never ever ever, other central banks have already started reducing global liquidity while domestically, the Treasury General Account (TGA) is soaking up liquidity to fund the federal government’s monumental deficit spending.
2. Declining global growth: long before the pandemic swept ashore in 2020, global growth was faltering: the business cycle had not been abolished, despite Fed assurances that growth and asset bubbles will continue expanding until they reach Alpha Centuri and beyond (Dow one trillion, yowza baby!), growth by any conventional measure (PMI, ISM, industrial production, global trade flows, etc.) had stagnated or rolled over.
Profits had also topped out and the expansion of leveraged debt had started to wobble, hence the Fed’s frantic unleashing of a repo flood in late 2019 to cover up the putrid stench of rapidly decaying debt.
3. Global supply shock: as we all know, global supply chains that everyone assumed were unbreakably robust turned out to be extremely fragile, tightly bound systems of endless dependency chains that fell to pieces once any one link snapped.
4. China credit impulse shock: while everyone in America focuses on the Fed’s we walk on water claims of unlimited power to inflate asset bubbles forever, the rest of the world lives or dies on China’s credit impulse which has long been a reliable leading indicator of global expansion or contraction.
For a variety of reasons, China’s gargantuan credit bubble is no longer expanding, and so China is not going to save the world from recession and asset bubbles popping.
It would be easier to put one’s faith in the unlimited power of the Fed to inflate asset bubbles if the humans behind the screen weren’t hopelessly compromised by self-serving corruption. But alas, they are corrupt and self-serving, and their claims of unlimited power to inflate asset bubbles forever are about to be tested.
Not looking won’t stop the waves from washing the beach party away.
Four Tsunami Waves About To Hit At Once (40 minutes)
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Goddamnit, who the hell needs this Depressing Shit on a Sunday?
Just TRUST IN THE LORD, people!
And that Trillion dollar coin.
And everything will be alright, yes everything will be alright ….
I love this song, I really do.
Can’t figure out what’s worse, the “diverse” cast or the dreck of a song
JC Superstar is only one of the longest running and beloved musicals of all time. But, Ok, music tastes are highly objective. You are entitled to your opinion.
But, the song being “dreck” — (are you a Joo?) — is a sign of your ignorance, or possible retardation.
You likely don’t realize that the words sung by Jesus and Judas come directly from the Bible. And Mary’s actions are based on what is recorded in the Bible.
The only “dreck” here is the shit between your ears.
Promises, promises.
It’s official: https://www.zerohedge.com/markets/us-officially-banana-republic-top-1-now-own-more-wealth-entire-middle-class?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
Just go over to Drudge and scan the headlines and articles. The article about Lebanon might be of interest.
And Stucky, you might want to read The Book Of James, Chapter Three and Verses Ten and Eleven, or possible the whole Chapter for your morning Devotion.
For those without a Bible.
“Out of the same mouth proceedeth blessing and cursing. My brethren, these things ought not so to be. Doth a fountain send forth at the same place sweet water and bitter? “
I’ve been to Drudge once in the past 3 years …. that was last week when I went there just to see if they had a story about the Chink ICBM flying over Oz. (They did not.) Drudge is a rotten Shithole … wont be checking it out for maybe another 3 years.
Not sure what you want me to glean from your Bible verse. It feels like you mean it as a criticism … because of my potty language, which might offend your Holy Christian Ears. If so, don’t read my fucken posts, mmkay?
The chance you are a born again Christian is in very severe doubt.
Well, “severe doubt” is not the same as No Fucken Way. Right.?? That means I still have a goddamned chance of sliding my fat ass through the Pearly Gates. Right? Then you and me can hang out by the Tree Of Life night club, have a beer, and chase some angelic pussy. That would be fun.
Foul mouths and Christianity are polar opposites. Telling us about what the bible says and using the Lord’s name in vain while telling us is blasphemy of the highest order. Last week I decided to comment again after a hiatus but I have found in last 6 months especially the comments section has become a cockwombles paradise. Back to spending my time caring for my handicapped wife and more time with an old hobby. People are following what the bible says in 2 Timothy 3. This know also, that in the last days perilous times shall come. For men shall be lovers of their own selves, covetous,boasters,proud, blasphemers, disobedient to parents, unthankful, unholy. Without natural affection, trucebreakers, false accusers, incontinent, fierce, despisers of those that are good. Traitors, heady, highminded, lovers of pleasure more than lovers of God. HAVING A FORM OF GODLINESS, BUT DENYING THE POWER THEROF:From such turn away. This shall be my last post. It is an apt portrait of Stucky. Repent and believe the gospel.
https://vdare.com/articles/20-black-on-white-homicides-september-2021-another-month-in-the-death-of-white-america-and-canada