The US stock market remains over owned, over leveraged and over valued. It is clear that most investors have not understood the enormous risk they are taking for inevitably poor

Do higher stock and house prices produce higher growth as the Fed believes? If so, not much, if any. This explains the poor forecasting by the Fed and why it

The Federal Reserve now has a very difficult hand to play. This video does a great job of describing the set of issues that will shape its decisions: https://www.youtube.com/watch?v=o_Jt39TdcmM&feature=em-uploademail-ctrl

The consensus believes that the US has just begun a long economic recovery, whereas we believe it is already quite advanced and vulnerable to events in Asia. Falling US MSCI

Podcast of Jim Rickards discussing his new book out next month with Simon Black. https://www.sovereignman.com/podcast/003-the-coming-collapse-of-the-international-monetary-system-13907/

“Since these monetary/fiscal fixes (i.e. distortions) didn’t address the real issues, all they can possibly do is increase the magnitude of the next collapse.” Charles Hugh Smith https://www.oftwominds.com/blogmar14/5-yr-fantasy3-14.html

The US economy is now dependent on credit growth that is insufficient without additional induced stimulus. The Fed will not be able to complete its current planned withdrawal from QE

“The last time the “Chairman” of GM started writing his letters GM went bankrupt within 2 years. Yet GM is currently the most widely owned stock by hedge funds. The

“Unfortunately for banks, higher education, buggy whip manufacturers, etc., monopoly and propaganda are no match for technology. Just because a system worked in the past in a specific set of

The financial system has been operating under “Gresham’s Dynamic” for some time. This simply means that bad ethics drives out good ethics. Professor Black is both a professor of law