Of Two Minds

Once the government’s ability to sustain its enforcement with money created out of thin air vanishes, the entire order vanishes along with it.The era of waste, greed, fraud and living on borrowed money is dying, and those who’ve known no other way of l…

Readers ask for specific recommendations for successfully navigating the post-credit/speculative-bubble era and I try to do so while explaining the impossibility of the task.As the bogus prosperity economy built on exponential growth of debt …

Longtime correspondent Paul B. suggested I re-publish three essays that have renewed relevance. This is the second essay, from July 2008. Thank you, Paul, for the suggestion.I received this timely inquiry from astute reader Paul B.:I’m interested in # …

If someone were to ask for a less risky survival strategy, I would suggest moving into town and start showing a little generosity rather than a lot of hoarding.I’m not trying to be difficult, but I can’t help cutting against the grain on topics like su…

This is how it happens that boats that were once worth tens of thousands of dollars are set adrift by owners who can no longer afford to pay slip fees.The increasing concentration of the ownership of wealth/assets in the top 10% has an under-appreciate…

By bailing out the sources of systemic fragility with trillions of dollars, the Fed has shifted the risk to the entire financial system and the nation’s currency.That the global economy is fragile is painfully obvious to all. What is less obvious …