Charles Hugh Smith

There's fanciful confidence afoot that central banks will once again coordinate a global "save" as markets careen out of control. They won't. There are many reasons for this: 1. There is no incentive...

The problem with bubbles of received wisdom and herd-euphoria is conditions change but the risk of something untoward happening is still perceived as inconsequentially low. All bubbles pop--and not...

The risks of gambling in speculative frenzies and depending on serial asset bubbles continuing forever are easily observable, yet few act to reduce these risks. Longtime correspondent Ishabaka...

Eventually, policy-makers turn the dial to 11, and nothing happens. Many others have explained why inflation is part-and-parcel of the status quo. In the simplest terms, where's why inflation is...

Globalization and financialization have fueled the global economy for 40 years. Now they're in the decline phase of the S-Curve. Does anyone benefit from a deep, prolonged global recession? Perhaps...

The fantasy is that inflation will plummet to zero and we can all go back to "Bringing Demand Forward." The reality is what's plummeting is demand.The US economy has been saved time and again over the...

The global risk premium has increased dramatically and is increasing in an unpredictable arc. This structural trend of higher risks will reprice everything. The global economy is changing in...

Now that the US economy is totally dependent on trillions of dollars in stimulus and speculative gains reaped from the stimulus, there is no Real Economy left to pick up the pieces when the...

The net result of these dynamics is official unemployment can soar, but employers will still be scrambling to find qualified, willing employees. The labor market is viewed as a sea of fluid workers....

Blowback has its own dynamics, as we'll learn in the decade ahead. One of the most durable expectations in the financial sphere is that inflation will drop sharply in a recession, and the Federal...