Brilliant explaination of the current economic predicament by Charles Hugh Smith. He explains how the Federal Reserve has now moved to the “duct-tape” era. This seems to have been confirmed implicitly by the central banks themselves in the recent BIS annual report:
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What is an investor to do? Think long and hard about gold’s outperformance in the first half of this year:
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GDP Growth is a Scam
What appears to be healthy economic expansion in the headline Real GDP statistics can disguise a chronic and perpetual recession in the private sector, running on borrowed time, and heading
