We clicked over to Zero Hedge last night for a brief check-in on the decline and fall of civilisation. We found these two beauts.
As with many reports in this genre, the logic is weakened by the dismissiveness and arrogance of the rhetoric, but the reports make some excellent points. They’re also a fun contrast to endless celebrations of the v-shaped recovery crowd.
To briefly summarize:
- Our collective debt is still vastly higher than it was in the early 1930s and in Japan in the 1990s.
- Consumers account for 70% of economic growth, and they’re broke
- The banks are still insolvent, but they’re now allowed to lie about it
- Recovering from crises like this takes years
Collapse In The Wake of the Fed’s Wall Street Bubble?, by Bob Chapman
The New Bull Market Fallacy, by Naufal Sanaullah at Shadow Capitalism.
And if you like doom and gloom, definitely don’t miss these:
Bob Prechter, Elliott Wave:
Nassim Nicholas Taleb:
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.