Charles Hugh Smith | TalkMarkets | Page 73
Book Author, Blogger at Of Two Minds
Contributor's Links: OfTwoMinds.com
Charles Hugh Smith, has been an independent journalist for 22 years. His weblog, OfTwoMinds.com, is a daily compendium of observations and analysis on the global economy and financial markets, as well as notable political, social and cultural trends. Charles ...more

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Still Think The Fed Isn't Fueling Inflation? Check Out This Chart
There is a great divergence between the conventional financial media and the public who goes to the supermarket: the financial media swallows whole the official artifice that inflation is near-zero while J.Q.
Our "Make It Look Good" Economy Has Failed
The essence of the U.S. economy is make it look good: never mind quality or long-term consequences, just make it look good today, this week, this month, this quarter: make the pink slime look like meat, make the company look profitable, make the low-quality product look good enough to close the sale
Why Are Food Prices So High? Because We're Eating Oil
Anyone who buys their own groceries (as opposed to having a full-time cook handle such mundane chores) knows that the cost of basic foods keeps rising, despite the official claims that inflation is essentially near-zero.
The Housing "Recovery" In Four Charts
The unintended consequences of the Fed's unprecedented interventions will rip the heart and lungs out of the housing market
The Essential Role Of Volatility, Stress And Dissent
The individual or system that never experiences dissent, volatility or stress is systemically unhealthy and increasingly prone to sudden "gosh, I didn't see this coming" collapse.
A Productive Economy Is A Trading Circle
The destructive consequences of a parasitic Tyranny of the Wealthy and Majority have yet to play out, but they will, and sooner than most believe possible.
A Tale Of Two Charts (And Two Economies)
Long-time correspondent Harun I. recently submitted two charts of the stock market that suggest two different stories--and these two stories suggest two different economies.
I'm A Fiat Slave, And So Are You
I describe the pernicious servitude created by debt as debt serfdom, as serfdom implies a neofeudal arrangement that requires serfs' acceptance of this financial yoke of servitude
The Decline Of Small Business = Decline Of Basic Skills
An economy where most people work for the state or a global corporation is an economy that has lost its knowledge of the key entrepreneurial building blocks.
Is Small Business A Threat To The Status Quo?
My view of the Status Quo as a neocolonial, neofeudal arrangement is succinctly captured by correspondent D.C.'s description of state-corporate capitalism: the Company Store.
Investing In Ourselves
I am generally skeptical of the value of behavioral economics, as the primary insight (that humans are irrational and rationalize their mistakes/failures) doesn't differentiate between economic systems that function productively for most participants...
Technology Isn't The Only Source Of Innovation
The solution is to recognize the critical role of social innovation enabled by networked human and social capital. I've addressed the structural reasons for the decline of the middle class. As with all complex systems, there is no one cause--instead there is an interconnected web of causes:
Bernanke The Sophist: The Deception Behind QE
Sophistry: the use of fallacious arguments, especially with the intention of deceiving. The Federal Reserve's core policy of quantitative easing (QE) is based on a deceptive but appealing argument voiced by former Fed Chair Ben Bernanke.
How Malinvestment Poisons The Entire Economy
Malinvestment--the systemic consequence of the Federal Reserve's policies of near-zero interest rates and abundant credit--doesn't just inflate destruction asset bubbles: it poisons productive assets and the entire economy.
Can The Top 10% Prop Up The Whole Economy?
Since the entire economy depends on consumption for its "growth," and discretionary consumption is financed with either cash or debt, that leads to two questions: 1) who has cash to spend on non-essentials and 2) who is credit-worthy enough to borrow money for non-essentials?
When The Real Cost Is Hidden, Making Good Decisions Is Impossible
If we had to summarize the response of the Federal government and the Federal Reserve to the structural financial crisis of 2008-2009, we could say that both institutions went all-in to obscure the real price of credit and capital.
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