Unbelievable!!

Unbelievable!! From the Greek Prime Minister comes this gem. “The bank deposits are fully secure”. Well, they are secure from the depositors and behind locked doors, that part is true. The reality is that, like all western banks, they only have 3% of your deposits, the rest has been spent on speculative lending to increase earnings, […]

Beware the Money Illusion Coming to Destroy Your Wealth

A money illusion sounds like something a prestidigitator performs by pulling $100 bills from a hat shown to be empty moments before. In fact, money illusion is a longstanding concept in economics that has enormous significance for you if you’re a saver, investor or entrepreneur. Money illusion is a trick, but it is not one […]

Delusional Joe Hockey Speaks

This week, Joe Hockey said : When asked at a press conference on Tuesday if residential property in Australia’s biggest city was out of the reach of many, Hockey said: “If housing were unaffordable in Sydney, no one would be buying it.” “The starting point for first home buyers is to get a good job […]

Does anyone else have the feeling that things are not just unraveling, but that the unraveling is gathering speed?

Submitted by Charles Hugh-Smith of Of TwoMinds blog, Debt saturation and debt fatigue = diminishing returns on central bank tricks. Does anyone else have the feeling that things are not just unraveling, but that the unraveling is gathering speed? Though quantifying this perception is more interpretative than statistical, I think we can look at the […]