John Rubino
John Rubino Articles
This week, US household debt jumped by the most in 14 years to a new all-time record. The last time it did something like this was in 2007, just as the housing mania was cresting and the Great Recession was looming.
Short-term interest rates are now as negative as they were in the inflationary 1970s. But that’s where the similarity ends. As the above chart sindebtedness was relatively modest as a percentage of GDP, which gave that financial system the...
One glance at this chart should silence any talk of “a return to normalcy”. We are emphatically not headed in a normal direction.
Since the start of the year, central banks have purchased over 4 million ounces of gold. April was a big month for central bank activity. Over half the amount of gold purchased in 2021 was in the month of April alone.
The “Everything Bubble” has jumped from hyperbole to literal truth in just a couple of years, as more and more assets enter “crazy expensive/extremely reckless” territory. The latest addition to the list is collateralized loan obligations...
It’s getting harder to tell which approaching crisis requires attention and which can be safely ignored. Sometimes it helps to see the data laid out visually.
The mainstream press is comfortable with moderate inflation because it raises financial asset prices and allows the government to spend more money. But when inflation hits a rate that threatens the stock market, even the Wall Street...
Fed Chair Jerome Powell just spooked the markets by predicting that inflation will jump when the economy reopens – but don’t worry, it’s just temporary. Here’s the real-time CNBC account:
We’re deluged with numbers these days, many of them huge, ominous departures from historical norms. But one matters more than the others. To understand why, let’s start with some history.
The conventional view of inflation is that it’s not only low, but dangerously low and in need of aggressive encouragement. But that view is becoming increasingly hard to defend, given all the things that are soaring in price.
