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Chris Martenson

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Insights for Prospering as Our World Changes
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Daily Digest 6/22 - Senate Unveils ACA Repeal Bill, Our Fear Of Nukes

13 hours 56 min ago
  • Senate Leaders Unveil Bill to Repeal the Affordable Care Act
  • I moved my kids out of America. It was the best parenting decision I've ever made.
  • Fewer People Think Continued GDP Growth Necessary or Possible -- Survey Results Released
  • Amazon Just ‘Jumped the Shark’
  • Two-And-a-Half Minutes to Midnight: Our Fear of Nukes and How We Got Here
  • Tesla Deals A Blow To Competitors As Its Stock Price Soars
  • In Flint Water Crisis, Could Involuntary Manslaughter Charges Actually Lead to Prison Time?
  • Heat can kill and we’re turning up the thermostat

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Categories: Economics

Off The Cuff: The Approaching Minsky Moment

June 21, 2017 - 18:00

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

  • A Study In Failure Of The State
    • Chris shares his on-the-ground observations from So. America
  • It Can Happen Here
    • Mish shares his on-the-ground observations from Illinois
  • Virtually All The Macroeconomic Data Is Miserable
    • Yet the Fed & the markets are acting like everything's great
  • The Approaching Minsky Moment
    • It's a matter of if, not when

This week's Off The Cuff discussion is an interesting one. Both Chris and Mish have front-row seats to two failing governments -- Chris in Argentina, and Mish in Illinois. It feels to them like they are getting a preview of the economic pain soon to come to the rest of the world.

Both are *very* concerned that citizens and investors across the globe are being duped by the (lack of) signals and messages today's ""markets"" are providing. Looking at the steady drumbeat of bad & worsening macroeconomic data, as well as the immense gap between fundamentals and asset prices, Chris and Mish are as confident as they have ever been that a massive painful reset is nigh. But too many of our leaders, and too much of the public, remain complacent/ignorant (willfully or not) regarding this risk. 

Their conclusion? The world is woefully unprepared for the Minsky moment headed its way.

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 6/21 - Chicago Police Pension Will Be Broke In 2021, PR Foreclosures Surge

June 21, 2017 - 07:37
  • Quad City Illinois lawmakers head to Springfield to pass budget before deadline
  • Medica intends to stay in Iowa's health-insurance market, at 43% higher price
  • Health insurers request 22 percent premium increases in Washington for 2018
  • Rauner, schools play blame game as CPS takes out costly $275M loan (Chicago)
  • Australia's central bank frets on financial stability as household debt mounts
  • Pension Crisis Won't Be Reversed by High Returns, Moody's Says
  • Illinois Medicaid talks to blow past judge's deadline
  • Projection: Chicago's police pension fund will be broke in 2021
  • Illinois’ unpaid bill backlog grows to more than $15B
  • Puerto Rico families fight, flee a surge in foreclosures

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Categories: Economics

Top 10 Ways to Beat the Heat

June 20, 2017 - 13:54

Here are 10 considerations and ways to help stay cool this summer and survive record high temperatures and oppressive heatwaves. 

http://lifehacker.com/5913149/top-10-ways-to-beat-the-heat

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Categories: Economics

Daily Digest 6/20 - “Consciousness is everywhere,” How Russia Targets the U.S. Military

June 20, 2017 - 04:06
  • Leading neuroscientists and Buddhists agree: “Consciousness is everywhere”
  • How Russia Targets the U.S. Military
  • He Voted to Impeach Clinton. This Looks Bigger.
  • The Thinking Person's Retirement Choice
  • 10 no-brainer ways to cut healthcare costs without hurting quality
  • 3 ways Clean Energy will make Big Oil extinct in 12 to 32 Years — without subsidies
  • Oil Markets Unmoved By Brewing Conflict In The Middle East
  • It’s Too Hot for Some Planes to Fly in Phoenix

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Categories: Economics

Daily Digest 6/19 - Rigged Jobs, The Growing Revolution

June 19, 2017 - 07:06
  • Spain’s Wounds Run Deep as Economy Retraces Crisis Losses
  • Rigged
  • BofA: "Has The Fed Become Concerned About The Surge In Stocks?"
  • Who Holds the DEA Accountable When Its Missions Cost Lives?
  • Using Texts as Lures, Government Spyware Targets Mexican Activists and Their Families
  • Are Russia And The Saudis Planning A Natural Gas Cartel?
  • The Growing Revolution
  • Atlantic faces the rare prospect of two active tropical storms in June

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Categories: Economics

Kirk Sorensen: The Future Of Energy?

June 18, 2017 - 11:20

Imagine a form of nuclear energy with greater output and virtually no safety issues. 

Such is the promise of liquid flouride thorium reactors (LFTRs). Kirk Sorensen returns to the podcast this week to update us on the current state of thorium power. 

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Categories: Economics

Daily Digest 6/17 - Falling Rocks in the Promised Land, World Weather Report

June 17, 2017 - 07:55
  • Lead found in 20% of baby food samples, especially juices and veggies
  • The Breakthrough: Uncovering NYC Cops Making Millions in Suspicious Deals
  • Falling Rocks in the Promised Land
  • Qatar's Crisis With Saudi Arabia And Gulf Neighbors Has Decades-Long Roots
  • American Chipmakers Had a Toxic Problem. Then They Outsourced It
  • The pitfalls and potential of inexpensive 3D scanning solutions 
  • Yemen War Threatens Crucial Oil Chokepoint
  • World Weather Report

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Categories: Economics

Everything You Need To Know About The Credit Impulse

June 16, 2017 - 16:23
Executive Summary
  • The case of the missing credit impulse
  • The credit impulse is the worst its been in recent history
  • How the situation is deteriorating fast
  • Why a credit impulse-driven recession is nigh

If you have not yet read Part 1: The Pin To Pop This Mother Of All Bubbles? available free to all readers, please click here to read it first.

The Case Of The Missing Credit Impulse

An enormous oversight of nearly every major economist is the role of debt in both fostering current growth but also stealing from future growth. 

It seems like such a simple concept, and it’s one I covered in great detail back in 2008 in the original Crash Course, but it remains a mysterious oversight of most here in 2017.  The concept is easy enough; if I borrow money to increase my spending here today, it probably makes sense to take note of that if you're an economist responsible for tracking spending.

My debt-funded spending today is my lack of spending in the future when I pay down the debt. 

Professor Steve Keen has this topic nailed beautifully. In it, he explains how even simply keeping a massive pile of previously accumulated debt at the same level as last year is a net negative on economic growth. A very simple and a very profound concept that still is not a part of conventional thinking.

Now here where things get interesting. And frightening. If we look at...

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Categories: Economics

The Pin To Pop This Mother Of All Bubbles?

June 16, 2017 - 16:23

Global macro economic data has been weak for many years, but there’s now a very real chance of a world-wide recession happening in 2017.

Why? A dramatic and worsening shortfall in new credit creation.

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Categories: Economics

Daily Digest 6/16 - Good News Friday: Humans With Superhuman Vision; To Be Happier, Take Public Transport

June 16, 2017 - 08:50
  • Taking Public Transport Instead Of Driving To Work Makes People Happier, Study Suggests
  • Humans With Super Human Vision
  • Now, Your Financial Advisor Will Have To Put You First (Sometimes)
  • Oregon Pay Equity Act becomes law
  • Brixton riding school brings joy to inner city kids
  • What If (Almost) Every Gene Affects (Almost) Everything?
  • The Solar Industry Is Creating Jobs Nearly 17 Times Faster Than the Rest of the US Economy
  • Judge Delivers Blow To Trump Administration In Dakota Access Fight

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Categories: Economics

Daily Digest 6/15 - What To Make Of Ultra-Low Volatility, Big Oil Pivots To Renewables

June 15, 2017 - 06:36
  • Ultra-low Volatility #ThisTimeIsDifferent
  • How Wells Fargo's Cutthroat Corporate Culture Allegedly Drove Bankers To Fraud
  • You Won't Believe This Stupid New Law Against Cash And Bitcoin
  • Big Science
  • Governor Jerry Brown of California Advocates the Overthrow of USA
  • The Great Gold Convulsion of 2017
  • Big Oil's Pivot To Renewables Has Begun
  • Michigan health director, 4 others charged with manslaughter over Flint water

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Categories: Economics

Off The Cuff: What Today's Rate Hike Means

June 14, 2017 - 17:30

In this week's Off The Cuff podcast, Chris and John Rubino discuss:

  • Unpacking Today's Rate Hike
    • What will the impact be?
  • When Is A Rate Hike Not A Rate Hike?
    • The Fed's hikes aren't really pulling liquidity out of the market
  • Every time The Fed Talks Gold Goes Down
    • Manipulation (for optics) is alive & well
  • Can The Fed Engineer A Soft Exit?
    • Hardly likely

Chris and John break down today's Fed announcement of a 0.25% rate hike, plus its presented schedule for starting to reduce it's $4.2 trillion balance sheet. 

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 6/14 - Warning To NJ On Health Care Costs, Auto Loan Delinquencies Rise

June 14, 2017 - 09:02
  • Warning signals to New Jersey on health care costs
  • Insurers seek double-digit health premium increases (New York)
  • In many states, the pension time-bomb is ticking
  • Editorial: Illinois, banana republic, just 17 days to prove it
  • Deficit rises as spending on Medicaid and defense increases
  • US credit card debt to surpass $1 trillion this year, report says
  • Auto loan delinquencies rise as drivers splurge on pricey cars 
  • Chinese local governments still getting deeper in debt
  • Aussie debt is about to top half a trillion
  • Global negative-yielding sovereign debt jumps to $9.5 trln - Fitch

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Categories: Economics

Missed 'The End of Money' Webinar?

June 13, 2017 - 21:35

If you didn't register earlier for the live webinar and are regretting having missed out on the event -- there's good news.

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Categories: Economics

Daily Digest 6/13 - Your Data Trail Is A Gold Mine, All Markets "Increasingly At Risk"

June 13, 2017 - 06:10
  • Russian Cyber Hacks on U.S. Electoral System Far Wider Than Previously Known
  • Jeff Sessions poised for legal minefield as he prepares to testify on Russia
  • Massive Central Bank Asset Purchases: Last Ditch Effort To Save Economy & Cap Gold Price
  • Bill Gross: "All Markets Are Increasingly At Risk"
  • How the U.S. Triggered a Massacre in Mexico
  • Your Data Trail Is Like a Gold Mine
  • Months of Deadly Anti-Government Protests in Venezuela
  • Is This The First Sign Of A U.S., Chinese Solar War?

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Categories: Economics

Daily Digest 6/12 - Bond Market Doomsayers Sound Alarm, UK Feels Pinch As Brexit Looms

June 12, 2017 - 08:02
  • Bond Market Doomsayers Sound Alarm as Margin of Safety Vanishes
  • Preparing for ‘Brexit,’ Britons Face Economic Pinch at Home
  • Britain's PM May to face her party's anger amid post-election tumult
  • This Tech Trend Is Inescapable
  • Automakers Prioritize Climate Despite Trump’s Decision
  • There are more than 2 million electric vehicles on the road around the world
  • For Climate Cause, Trump’s Withdrawal from Paris Accord Just One Hurdle Among Many
  • New threats to public lands endanger America's unique wildlife corridors

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Categories: Economics

Steen Jakobsen: 60% Probability Of Recession In The Next 18 Months

June 11, 2017 - 15:46

Steen Jakobsen back on, Chief Investment Officer of Saxo Bank, returns to the podcast this week to share with us the warning signs of slowing economic growth he's seeing in major markets all over the world.

In his view, the world economy is sputtering badly. So badly, that he's confident predicting a global recession by 2018 -- or sooner.

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Categories: Economics

Daily Digest 6/11 - Canada’s Middle Class On The Brink of Ruin, Where's Your Gold?

June 11, 2017 - 06:49
  • Canada’s Middle Class Is on the Brink of Ruin
  • DeVos Says More Money Won't Help Schools; Research Says Otherwise
  • The Scripting of the New World Order Narrative
  • Where's Your Gold?
  • The dark psychology of dehumanization, explained
  • Seizing on Opioid Crisis, a Drug Maker Lobbies Hard for Its Product
  • The Internet needs paid fast lanes, anti-net neutrality senator says
  • Pipes at 1,291 Homes Replaced So Far through Mayor Weaver’s FAST Start Initiative

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Categories: Economics

Get Ready For The Coming Massive Correction

June 9, 2017 - 16:46
Executive Summary
  • The economic data is getting darker fast
  • The over-indebtedness of the economy is the worst it's ever been
  • Predicting the timing of the next major market correction
  • As the risks mount, what should the concerned investor do?

If you have not yet read Part 1: Why The Markets Are Overdue For A Gigantic Bust available free to all readers, please click here to read it first.

The Data Says…Another Downturn Is Upon Us

Our view is that a massive market correction is coming, one that may well rip the financial markets apart, and cause very long-term and long lasting damage, possibly to the point of taking generations to repair in any meaningful sense.

In fact things may never actually recover to the current heights because recovery requires energy and there simply isn’t the net energy per capita that existed in the past.

For now, we see plenty of signs of fundamental economic weakness, and this is not surprising at this stage of the so-called economic expansion.  The truth is this expansion has been phony to a large degree, and quite probably should have broken down many times in the past, most recently in early 2016.

But the central banks prevented that and we can all feel thankful at the extra time that has provided us to become more resilient under reasonably calm circumstances.

And yet, the one thing that central banks have never been able to do is...

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Categories: Economics