There are increasingly those who predict hyperinflation, which is popularly defined as rapidly-rising prices that soon reach un-payable levels, and which is always caused by the true definition of inflation, which is (according to the Mogambo Big Book Of Economic Stuff (MBBOES), â€œA gigantic growth in the money supply, which is caused by banks deliberately acting like greedy, lying, filthy pigs who deserve to be thrown in jail.â€�[Read more...]
Apparently, late last night, from out of the spooky darkness, there was a sound that woke up my wife, and so she woke me up, wanting me to get up and go see what it was, which I figured would probably end up with me confronting some desperate, drug-crazed burglar who will pull out a knife and stab me over and over.[Read more...]
The books are closed on November. Alas, thereâ€™s little joy in the broad stock market.
After we got â€œthe best September since 1939â€�…and â€œthe best October since 2003â€�…all we have this morning is â€œa November that wasnâ€™t as bad as 2008.â€� Gee, swell.[Read more...]
â€œDebt delenda est,â€� we told our audience in London this morning. â€œThis is a debt story. Itâ€™s not a liquidity story. Itâ€™s not a â€˜capitalism has failedâ€™ story. Itâ€™s not a regulatory story. Itâ€™s the story of debt. Too much debt. Too much to pay back.[Read more...]
Wherever we look at the world economy today, we see a wall of risk…and potential financial catastrophe. We see a large number of virtually bankrupt major sovereign states (US, UK, Spain, Italy, Greece, Japan and many more) teetering atop a financial system that is bankrupt, but is temporarily kept alive with phony valuations and unlimited money printing. Increasingly, therefore, investors will want to exchange this funny money for gold.[Read more...]