China Is Crashing and Greece Is Spinning Out of Control
July 8, 2015
The world is even more fragile than it was in 2007. The big banks are bigger. Aggregate bank assets are concentrated in fewer hands. The bank derivatives books are much larger. Market liquidity is worse. —James Rickards, The Daily Reckoning Well, ain’t that just dandy? And it’s undeniably true. We were told that the 2008 financial meltdown was caused by entities that had grown too large: banks, insurance companies, corporations, derivitives.
The Masque of the Red Death - American Style
June 29, 2014
The “Red Death” had long devastated the country. No pestilence had ever been so fatal, or so hideous. Blood was its Avatar and its seal—the redness and the horror of blood. There were sharp pains, and sudden dizziness, and then profuse bleeding at the pores, with dissolution. The scarlet stains upon the body and especially upon the face of the victim, were the pest ban which shut him out from the aid and from the sympathy of his fellow-men.
What Will Putin Do?
March 18, 2014
Ask yourself this: why did the stock markets rally today after Obama announced sanctions against Russians? I’ll get back to that, but first some background. I’ve often said that Putin plays chess while Obama fumbles with checkers. I picture our president, chin resting on fist, brows squeezed in childlike concentration, as he carefully chooses between jumping Putin’s piece to end the game or getting another of his pieces “kinged.” Of course, Obama goes for the kingship.