The Stagflationary Debt Crisis Is Here

The Great Moderation has given way to the Great Stagflation... the scale of the crisis that awaits has not even been fully priced in yet...

Authored by Nouriel Roubini: The Great Moderation has given way to the Great Stagflation, which will be characterized by instability and a confluence of slow-motion negative supply shocks. US and global equities are already back in a bear market, and the scale of the crisis that awaits has not even been fully priced in yet.

For a year now, I have argued that the increase in inflation would be persistent, that its causes include not only bad policies but also negative supply shocks, and that central banks’ attempt to fight it would cause a hard economic landing. When the recession comes, I warned, it will be severe and protracted, with widespread financial distress and debt crises. Notwithstanding their hawkish talk, central bankers, caught in a debt trap, may still wimp out and settle for above-target inflation. Any portfolio of risky equities and less risky fixed-income bonds will lose money on the bonds, owing to higher inflation and inflation expectations.

Remembering Tim Ball

Corbett: Today on the program James celebrates the life and work of Dr. Tim Ball, a man who devoted his retirement years to fighting the good fight against the agents of the climate scam and the green enslavement agenda. His fearless truthtelling in the face of so much adversity serves as an example to us all.

Super Cool 'Anti-COVID Passport Fascism' Candidate Elected Prime Minister Of Italy

Jimmy Dore: Italy has elected a new Prime Minister, Giorgia Meloni, and many members of the commentariat are raising alarms that Meloni is – gasp! – a fascist! There’s no question Meloni is a member of Italy’s far-right party and she’s previously spoken positively about Mussolini but little of the hand-wringing has dealt with what her actual policy positions are. Although we do know that she supports Ukraine in the war with Russia, so that offers some evidence she could at least be Nazi-adjacent.

UK Column News

Brian Gerrish, Mike Robinson, David Scott and Mark Anderson.

From Useful Idiots To Useless Idiots

As Russia rails against “paper dollars and euros” and extolls the strength of commodities, can the West slash rates or do endless QE to bail out the tiny elite who own most financial assets, and in doing so prove Moscow right in the eyes of the rest of the world?

By Michael Every of Rabobank: As bullets fly, if you are someone who only responds to bullet points, try these two:

1. We may be on the verge of a replay of 2008 – but we can’t use the same central bank policy responses without creating massive inflation, global Arab Springs, and global chaos.

2. It took a special kind of thinking to get us into this mess, and an equally special kind of thinking is not helping extract us from it.

Before explaining in more detail, first a hat-tip for today’s title to an @andreapitzer tweet: “Noticing the rise of a new category of pundit: the useless idiot.” Her joke refers to the Leninist phrase “Useful idiot”, the definition of which is: “a political insult that describes a person who, through manipulation or not, is useful to a political cause that is not their own despite not fully realizing their role. This makes them “an idiot,” an unwitting and useful pawn of a propagandist.” If you didn’t know that the odds of you being one are exponentially higher than if you did.

Bad Luck + She Admitted It "We Own The Science"

Anything Goes