Guest Post by Ron Paul
September marked a decade since the bursting of the housing bubble, which was followed by the stock market meltdown and the government bailout of the big banks and Wall Street. Last week’s frantic stock market sell-off indicates the failure to learn the lesson of 2008 makes another meltdown inevitable.
Continue reading “Ten Years After the Last Meltdown: Is Another One Around the Corner?”
Guest Post by Nomi Prins
Warning: What you are about to read is not about Russia, the 2016 election, or the latest person to depart from the White House in a storm of tweets. It’s the Beltway story hiding in plain sight with trillions of dollars in play and an economy to commandeer.
While we’ve been bombarded with a litany of scandals from the Oval Office and the Trump family, there’s a crucial institution in Washington that few in the media seem to be paying attention to, even as President Trump quietly makes it his own. More obscure than the chambers of the Supreme Court, it’s a place where he has already made substantial changes. I’m talking about the Federal Reserve.
As the central bank of the United States, the “Fed” sets the financial tone for the global economy by manipulating interest rate levels. This impacts everyone, yet very few grasp the scope of its influence.
“It could never happen again…” is the constant refrain of the asset-gatherers and commission-takers around the world as they prepare to defend their livelihoods from yet another delusion-clarifying plunge back to reality for stock prices.
Well, after this week’s bloodbathery – and tearing down of the social-media-will-remake-the-global-economy narrative – many are starting to recognize that all is not well… and perhaps, just perhaps, the support pillars of this flimsy potemkin village we call ‘the stock market’ have already crumbled…
Continue reading “David Rosenberg: “It Was Black Friday Before Black Monday””