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The Trouble with Asset Bubbles: If You Stop Pumping, They Pop
The idea that authorities can massage their pumping to keep asset bubbles inflated at a permanently high plateau is currently being tested. The trouble with inflating asset bubbles is that you have to...
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The Insanity of Pushing Inflation Higher When Wages Can't Rise
In an economy in which wages for 95% of households are stagnant for structural reasons, pushing inflation higher is destabilizing. The official policy goal of the Federal Reserve and other central...
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Is the High Cost of Housing Crushing Wages?
The authors' thesis doesn't explain the 47-year downtrend of labor's share of the economy. A provocative essay, Don't Blame the Robots, makes the bold claim that "Housing Prices and Market Power...
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The Real Reason Wages Have Stagnated: Our Economy is Optimized for...
Labor's share of the national income is in freefall as a direct result of the optimization of financialization.The Achilles Heel of our socio-economic system is the secular stagnation of earned income,...
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On Repairing/Rebuilding 100,000+ Damaged Houses
Almost lost in all the dollar estimates of property damage is the human loss, suffering and stress.I am not an expert in repairing flood damage, or in dealing with insurance companies, FEMA or all the...
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Housing Bubble Symmetry: Look Out Below
Housing markets are one itsy-bitsy recession away from a collapse in domestic and foreign demand by marginal buyers.There are two attractive delusions that are ever-present in financial markets:One is...
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Yes, This Time It Is Different: But Not in Good Ways
Yes, this time it's different: all the foundations of a healthy economy are crumbling into quicksand.The rallying cry of Permanent Bulls is this time it's different. That's absolutely true, but it...
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Dear Jamie Dimon: Predict the Crash that Takes Down Your Produces-Nothing,...
This is the begging-for-the-overthrow-of-a-corrupt-status-quo economy we have thanks to the Federal Reserve giving the J.P. Morgans and Jamie Dimons of the world the means to skim and scam the bottom...
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Hey Advertisers: The Data-Mining Emperor Has No Clothes
When a big advertiser pulls its online adverts and its sales remain unchanged, that tells everyone who's paying attention something important. It's an article of widespread faith that data-mining...
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Are Facebook and Google the New Colonial Powers?
To qualify as colonial powers, Facebook and Google must effectively limit the choices and power of users, and punish or coerce those who question or resist their power. I was struck by a phrase from a...
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Why Governments Will Not Ban Bitcoin
Those who see governments banning ownership of bitcoin are ignoring the political power and influence of those who are snapping up most of the bitcoin.To really understand an asset, we have to examine...
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How Much of our Discord Is the Result of the "Engagement" Advert...
The goal of maximizing profits for shareholders by any means available incentivizes discord as the primary source of profits.Few would deny that social discord is rising. The proposed causes range from...
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Stagnation Nation: Middle Class Wealth Is Locked Up in Housing and Retirement...
The majority of middle class wealth is locked up in unproductive assets or assets that only become available upon retirement or death. One of my points in Why Governments Will Not Ban Bitcoin was to...
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Where To Invest When (Almost) Everything's in a Bubble
Many things that are scarce and thus valuable cannot be bought on the global marketplace. Now that almost every asset class is in a bubble, the question of where to invest one's capital has become...
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Observations on Wealth-Income Inequality (from Federal Reserve Reports)
There's a profound difference between assets that produce no income and those that produce net income. To those of us nutty enough to pore over dozens of pages of data on wealth and income in the U.S.,...
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What Could Pop The Everything Bubble?
As central bank policies are increasingly fingered by the mainstream as the source of soaring wealth-income inequality, policies supporting credit/asset bubbles will either be limited or cut off, and...
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Japan Just Killed the "Bitcoin Will Be Banned" Meme
One of the most durable claims of cryptocurrency skeptics is that "governments will ban bitcoin once it threatens their fiat currency or their control." Ben Bernanke recently gave voice to this claim...
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Why Is Bitcoin a Big Deal?
Centralized banking and all other forms of intermediary rentier skims are presented as solid. If history is any guide, these supposedly solid entities may well melt into air. Why is bitcoin considered...
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What the Kennedy Assassination Records Reveal: Uncontrollable Incompetence
Imagine Harvey Weinstein wielding a "top secret" stamp to block any exposure of the uncomfortable truth and you have the FBI, CIA and NSA. One way to interpret the intelligence community's reluctance...
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What's Driving Social Discord: Russian Social Media Meddling or Soaring...
The nation's elites are desperate to misdirect us from the financial and power dividethat has enriched and empowered them at the expense of the unprotected many.There are two competing explanatory...
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