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Chris Martenson

Syndicate content Peak Prosperity
Insights for Prospering as Our World Changes
Updated: 32 min 14 sec ago

Daily Digest 7/27 - Fed Is Preparing To Crash The System, BC LNG Project No Longer Proceeding

9 hours 14 min ago
  • Why & How to Hedge the Growing Risks of Holding Equities
  • This Chart Might Make You Rethink the Adage “Stocks Always Come Back”
  • Warning: The Fed Is Preparing To Crash The System Again
  • Don’t Let a Stock Market Shake-Up Ruin Your Portfolio
  • Amid the Blaring Headlines, Routine Reports of Hate-Fueled Violence
  • Pacific NorthWest LNG project in Port Edward, B.C., no longer proceeding
  • Trump’s U.S.-Steel Pipeline Plan To Backfire On Energy Projects
  • Brutal Drought in the West Is Decimating This Year’s Wheat Crop

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Categories: Economics

Peak Prosperity Advanced Seminar Course: Developing Your Emotional and Social Capital

July 26, 2017 - 14:11

The old world is falling apart. Your ability to live a full and joyful life in these trying times depends on your ability to be with your emotions, learning what they have to teach you about your deepest self.

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Categories: Economics

Daily Digest 7/26 - Venezuela’s Crises In Charts, IMF Says Calls For Stimulus End 'Premature'

July 26, 2017 - 05:40
  • Venezuela’s economic and political crisis in charts
  • Uncertainty Over Obamacare Leaves 2018 Rates In Limbo
  • Student loan borrowers, herded into default, face a relentless collector: the U.S.
  • IMF says ECB should maintain stimulus, calls for end are 'premature'
  • Record-Low ECB Rates Are a €1 Trillion Government Windfall
  • New Board Members Agree BOJ Is Far From Talking About Exit Plan
  • Loan default rate for risky retailers jumps above 5%; Fitch Ratings
  • Something Big, Bad And Ugly Is Taking Place In The U.S. Retirement Market
  • Electric Car Industry Faces A Looming Supply Shortage

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Categories: Economics

Daily Digest 7/25 - Installing Microchips In Employees, Japan's Doomsday Preppers

July 25, 2017 - 08:08
  • Staving Off The Coming Global Collapse
  • Installing microchips in employees is 'the right thing to do,' CEO says
  • America's top lawman lied under oath. Can we seize his stuff?
  • Japan’s Doomsday Preppers Are Buying $19,000 Bomb Shelters
  • Beware the Sharing Economy
  • The 'Horrific' Human-Smuggling Tragedy in Texas
  • OPEC’s No.2 Goes Rogue, Plans To Pump 5 Million Bpd
  • From Inferno To Purgatory

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Categories: Economics

Alex J. Pollock: Insights From The Recent Congressional Hearing On The Fed

July 24, 2017 - 11:43

On June 28th 2017, the United States Congress held a hearing titled: “The Federal Reserve’s Impact on Main Street, Retirees and Savings.” If you haven't watched it yet, we highly recommend doing so.

Joining us for today's podcast is Alex J. Pollock, one of the experts who participated on that Congressional panel. In this discussion, he details out his assessments of the Fed's major transgressions against the interests of the general public. But perhaps more interestingly, he shares his observations from the hearing and how it struck him that many of the members of Congress that convened it appear to be growing increasingly concerned about the Fed's lack of accountability, as well as its potential fallibility.

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Categories: Economics

Daily Digest 7/24 - Toxic Fires, Deutsche Bank To Shift $350B From London To Frankfurt

July 24, 2017 - 10:37
  • "Worse Than People Can Imagine" - Deutsche Bank To Shift $350 Billion Of Assets From London To Frankfurt
  • European Real Estate Is Entering Bubble Territory, Fidelity Says
  • Break up the cable monopolies? Democrats propose new competition laws
  • OPEC Meets Next Week To ‘Fix’ Compliance Problem
  • Toxic Fires 
  • A timeline map of the massive increase in human-caused earthquakes in Oklahoma 
  • Has the Moment for Environmental Justice Been Lost?
  • Why a total solar eclipse is such a big deal

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Categories: Economics

Daily Digest 7/22 - American Empire 'Collapsing,' Cash Becoming Obsolete In Urban China

July 22, 2017 - 07:49
  • There are more renters than any time since 1965
  • Staving Off the Coming Global Collapse
  • Pentagon study declares American empire is ‘collapsing’
  • Cyberwar looms as diplomats dither
  • In Urban China, Cash Is Rapidly Becoming Obsolete
  • Jeff Sessions wants police to take more cash from American citizens
  • Is Gerrymandering a Threat to Democracy?
  • A Stock Market Crash Is Coming
  • Can the Mall of America survive the retail apocalypse?

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Categories: Economics

What To Do With Your Cash?

July 21, 2017 - 21:19

Have you moved a material percentage of your financial portfolio to cash? Have you become so concerned about the meteoric ramp upwards in asset prices that you find it wiser instead to move to the sidelines, build "dry powder", and wait to re-enter the markets at saner valuations?

If so, you have my sympathies.

The past 5+ years have been brutal for savers pursuing this strategy. I know this well, as I'm one of those folks, too.

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Categories: Economics

Daily Digset 7/21 - Good News Friday: Wireless Powered By Light, What Bitcoin And Solar Have In Common

July 21, 2017 - 07:30
  • Toronto man builds park stairs for $550, irking city after $65,000 estimate
  • I Dropped Out Of High School — And I’m Doing Just Fine
  • Judges ordered to set affordable bonds for defendants who pose no danger
  • A future for light-powered wireless connectivity, thanks to graphene
  • What Bitcoin And Solar Have In Common
  • House defeats amendment to strip climate study from Defense bill
  • Chile Just Converted 11 Million Acres Into New National Parks
  • Fireflies sparkle in a Pennsylvania field at dusk

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Categories: Economics

Off The Cuff: The Unsinkable(?) Market

July 20, 2017 - 23:06

In this week's Off The Cuff podcast, Chris and Mish Shedlock discuss:

  • The Unsinkable Market
    • No data is bad enough to stop its rise
  • The Disappearance Of Volatility
    • Gone, but for how long?
  • Failing Pension Plans
    • A truly massive crisis in the making
  • Cash, Gold & Bitcoin
    • The only places for capital to find safety?

During these doldrum days of summer, where no matter the news, today's "unsinkable" markets continue to march ever upwards, Mish shares his thoughts on what will finally cause asset prices to tank.

Click to listen to a sample of this Off the Cuff Podcast or Enroll today to access the full audio and other premium content today.

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Categories: Economics

Daily Digest 7/20 - China Stocks Plunge, Thoughts On Gold

July 20, 2017 - 07:15
  • China stocks plunge on ‘Black Monday’, with nearly 500 stocks falling by daily limit of 10pc
  • Japan Central Bank's ETF Shopping Spree Is Becoming a Worry
  • Trump Fed chief candidates say ambitious growth targets can be met
  • Thoughts On Gold
  • Who are the Transportation Disadvantaged?
  • U.S. Lawmakers Seek to Criminally Outlaw Support for Boycott Campaign Against Israel
  • Together, technology and teachers can revamp schools
  • The Man Who Blew The Door Off The Microbial World
  • 'An insane amount of heat' as fire near Yosemite National Park moves with frightening speed

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Categories: Economics

Daily Digestss 7/20 - China Stocks Plunge, Thoughts On Gold

July 20, 2017 - 07:15
  • China stocks plunge on ‘Black Monday’, with nearly 500 stocks falling by daily limit of 10pc
  • Japan Central Bank's ETF Shopping Spree Is Becoming a Worry
  • Trump Fed chief candidates say ambitious growth targets can be met
  • Thoughts On Gold
  • Who are the Transportation Disadvantaged?
  • U.S. Lawmakers Seek to Criminally Outlaw Support for Boycott Campaign Against Israel
  • Together, technology and teachers can revamp schools
  • The Man Who Blew The Door Off The Microbial World
  • 'An insane amount of heat' as fire near Yosemite National Park moves with frightening speed

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Categories: Economics

Daily Digest 7/19 - Insurance Set To Soar For Some In LA, Private Student Loan Debts Could Be Wiped Away

July 19, 2017 - 07:21
  • Health insurance rates set to soar for some in Louisiana
  • Fort Worth pension woes bring second downgrade from Moody’s
  • Venezuela has less than $10 billion -- lowest reserves in over 20 years
  • As Paperwork Goes Missing, Private Student Loan Debts May Be Wiped Away
  • Japan gov't says to miss primary surplus goal, debt/GDP ratio to fall
  • Japan Central Bank's ETF Shopping Spree Is Becoming a Worry
  • Jeff Sessions wants police to take more cash from American citizens
  • Ecuador Abandons The OPEC Deal: Who’s Next?
  • City of Chicago posts deleted EPA climate change information on website

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Categories: Economics

Daily Digest 7/18 - From $2B to Zero, Don't Get Burned By Cryptocurrencies

July 18, 2017 - 08:37
  • From $2 Billion to Zero: A Private-Equity Fund Goes Bust in the Oil Patch
  • Average Canadian house worth $504,458 in June, down 10% since April
  • Sniffing out the truth about the end of the Canadian real estate boom: Don Pittis
  • Don't Get Burned By Cryptocurrencies
  • What's the difference between anti-Semitism and anti-Zionism?
  • What We Know — And Don’t Know — About Hate Crimes in America
  • Electric Vehicles Won’t Topple Oil... Yet
  • No offense, American bees, but your sperm isn’t cutting it

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Categories: Economics

Failure To Communicate

July 17, 2017 - 18:06

The mass media simply doesn't have an established reference point for the concerned citizen who, through education and foresight, decides to take prudent steps today to reduce their future vulnerability while increasing their level of personal prosperity.

So, movements like ours get shunted into the existing constructs they do know, pretty much all of which exist on the "fringe".

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Categories: Economics

Daily Digest 7/17 - Fake 'Natural' Foods, How a Small Town Is Standing Up to Fracking

July 17, 2017 - 06:42
  • Coca-Cola Insists It Made Coke ‘Healthy’ by Putting Fiber in It
  • Bitcoin is trying to find a bottom after a weekend selloff
  • The Threat to American Elections You Don’t Know About But Should
  • These 'missing charts' may change the way you think about fossil fuel addiction
  • Are Deeper Cuts OPEC’s Only Option?
  • Live near the beach? Coral reef expert Charlie Veron has some advice for you
  • Degeneration Nation: Connecting the Dots Between Factory Farms, Roundup, GMOs, and Fake 'Natural' Foods
  • How a Small Town Is Standing Up to Fracking

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Categories: Economics

Daily Digest 7/15 - Americans Hoarding Money In Checking Accounts, Temp Adjustments And Climate Change

July 15, 2017 - 07:47
  • Americans are hoarding money in checking accounts
  • Confidant Of Pope Francis Condemns U.S. Religious Right
  • National Debt Too High, Silver Price Too Low
  • The Fallout 
  • Uber's Opportunistic Ouster
  • ‘Extreme’ Use of Painkillers and Doctor Shopping Plague Medicare, New Report Says
  • Big Oil Just Woke Up to Threat of Rising Electric Car Demand
  • Orwell’s Nightmare: Temperature Adjustments and Climate Change 

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Categories: Economics

A Better Model For Predicting What Happens Next

July 14, 2017 - 20:39
Executive Summary
  • The dangerous shortcomings of the world's dominant 'Neoclassical' economic models
  • The predictive advantage of understanding the Overton Window
  • The alternative (and very likely better) models of Keen and Minsky
  • The critical improvement to ALL models of tying economics to energy/resources

If you have not yet read Part 1: Bad Models Result In Terrible Outcomes available free to all readers, please click here to read it first.

So let’s see if we can understand the model errors for the central banks.  Again this is important because if they’ve got it wrong, then we all will pay a very heavy price -- with Venezuela, Argentina, and Zimbabwe all providing vivid examples of what happens when the social contract of money is ruined.  

To begin, the current crop of monetary practitioners at the world’s central banks are all devotees and advocates of the neoclassical branch of economics.  It’s an odd dogma for them to hold because its track record at explaining or predicting what has either happened or might yet happen is utterly dismal.

As Steve Keen explains:

[Economics as understood by the central bankers] has always been grounded in the beliefs that (a) capitalism is inherently stable, (b) that the financial sector can be ignored—yes that’s right, ignored—when doing macroeconomics, and (c) that the Great Depression was an anomaly that can also be ignored, because it can only have been caused either by an exogenous shock or bad government policy, both of which cannot be predicted in advance.

(Source)

The main flaw in the neoclassical approach to economics is that it completely ignores, or rather assumes away, any and all trends in debt creation.  In this bizarrely incomplete system of thinking, the financial system is considered to be, essentially, a self-correcting zero-sum entity (that balances itself out nicely with a little help now and then). 

So such things as carefully tracking GDP increase per new unit of debt, overall indebtedness ratios and understanding that crises are bred from complacency are of no practical concern to a neoclassical economist, such as those fully occupying the halls of power currently.

One way to understand the dogma that infects the central banking halls of power lies in what Jim Kunstler recently surfaced in a piece he wrote on the Overton Window, which, importantly...

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Categories: Economics

Bad Models Result In Terrible Outcomes

July 14, 2017 - 20:38

Recently I spent a month in Buenos Aries.  I went there to study the people, the culture and the economy of a prosperous land, filled with kind, well educated people.

One key lesson was this; bad policies can ruin every advantage you might have had.

While not as bad off as it was in 2002 when people filled the streets banging pots and pans in protest of their economically ruined lives, the place is still clearly depressed as are most of its people. 

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Categories: Economics

Off The Cuff: The Schizophrenic Fed

July 14, 2017 - 09:59

In this week's Off The Cuff podcast, Chris and Axel Merk discuss:

  • No Rate Hike After All?
    • Yellen sings a dovish tune this week
  • Wait, Wasn't The Fed Just Warning It Would Tighten?
    • Yep. It was talking tough up until now
  • Why Can't The Fed Make Up It's Mind?
    • Because it's in a box. Jawboning is all it can do at this point
  • The Next Fed Head
    • A complete transformation may be in store soon

Chris and Axel unpack the latest guidance from the Fed issued this week. For those listening, the Fed's inconsistency is understandably infuriating. One week it's warning about tightening ahead, the next it's telling folks rates are just fine where they are.

Axel, who has more inside access to current & past Fed officials than anyone we know, feels that the Fed is simply trying to walk a tightrope it knows will one day snap. At this point, it's trapped. It needs to normalize rates, but doing so will crash the markets. So it's using the only tool it has -- confusion -- to keep the system fooled that everything is under control. Of course, one day the ruse will be discovered. But until then, the Fed will obfuscate, vacillate, prevaricate -- whatever it can do to keep the status quo in place for one more day...

Click to listen to a sample of this Off the Cuff Podcast or Enroll today to access the full audio and other premium content today.

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Categories: Economics