Blogspot - charleshughsmith.blogspot.com - oftwominds-Charles Hugh Smith
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The Recession That Never Ended: 2008 -2013 (and Counting) 26 Aug 2013 | 07:31 am
The reality is that the recession never ended for 95% of U.S. households, and by many metrics the recession has deepened. If you want to claim the 2008 recession ended, you have to find a metric that...
Up Against Hard Limits: Food and Finance 24 Aug 2013 | 07:58 pm
We are reaching hard limits in food production and financial engineering. In the first 25 years after World War II (1946-1970), an abundance of cheap oil and plentiful opportunities (low-hanging frui...
The Grand Experiment Part 2: Unlimited State Creation of Credit and Cash 23 Aug 2013 | 08:37 am
An unprecedented tsunami of state-borrowed and Fed-printed money has failed to fix the systemic crisis. What happens when all systemic risk ends up concentrated in the central state? Let's start by n...
The Grand Experiment: Offloading Risk onto the State 22 Aug 2013 | 06:24 pm
Offloading risk onto the state does not make the risk vanish; it simply concentrates the risk of collapse into the state itself. To understand the inevitability of systemic crisis, we must understand...
The Source of Systemic Crisis: Risk and Moral Hazard 21 Aug 2013 | 06:47 pm
Programs that backstop banks and social insurance systems like Medicare are not like fire or life insurance, and therein lies the source of systemic crisis. There are all sorts of candidates for the ...
Charting Insolvency: Social Security and Wages 20 Aug 2013 | 07:48 am
We as a nation need to prioritize the Social Security retirement of those with no other pension incomes. David P. of Market Daily Briefing kindly sent two charts illustrating the problem with Social ...
The Trends Few Dare Discuss: Social Security and the Decline in Full-Time Employment 19 Aug 2013 | 06:01 am
Believing official reassurances based on Fantasyland projections of ever-rising payroll taxes and employment does not magically make the Social Security system viable. Questioning the financial viabi...
Present Shock and the Fantasy of Change 17 Aug 2013 | 05:00 pm
The fantasy is that the status quo won't change dramatically, even as it already has changed dramatically. It's remarkably easy nowadays to experience Present Shock overload. I wrote about Douglas Ru...
Why Isn't There a Demonstrably Correct Economic Theory? 16 Aug 2013 | 07:13 pm
Although economics doesn't recognize it, the operative phrase here is systemic injustice. Correspondent C.G.D. recently asked what I consider a very profound question: why isn't there demonstrably co...
Rising Inequality and Poverty: Can They Be Fixed? 15 Aug 2013 | 08:22 pm
Conventional Left-Right ideologies shed little light on the structural causes of inequality or systemic solutions to poverty. It has been widely reported that inequality is rising across the entire w...
