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Charles Hugh Smith: Central Banks Have Failed Because They Can't Push Wages Higher

``The game has been lost, but central bankers are still on the field, wandering around in disbelief that their unspeakable powers to issue money and credit have failed. You can print all the money you want, but it will never boost wages to keep up with prices. ''

charles hugh smith: The Oil Price Head-Fake Disruption Ahead

``The price drop is a head-fake: it doesn't usher in a new era of permanently cheap oil. Rather, it unleashes dynamics that impair supply on multiple levels: geophysical, geopolitical, demographic and financial.''

Weekday Wrap-Up: Wealth (Inequality) Effects, Deflationary Shocks, and the Housing Market

Charles Hugh Smith from OfTwoMinds.com says Fed policy and its direct influence on wealth inequality in the US has now become a mainstream issue; Russell Napier says to expect another deflationary shock in the next couple years followed by a massive reflation by China...

The Schizophrenia Tormenting Our Society & Economy

Submitted by Charles Hugh Smith via Peak Prosperity blog, What can popular television programs tell us about the zeitgeist (spirit of the age) of our culture and economy? It’s an interesting question, as all mass media both responds to and shapes our interpretations and explanations of changing times. Show More Summary

The Critical Difference Between Rentier Wealth And Wealth Creation

Submitted by Charles Hugh Smith from Of Two Minds The Critical Difference Between Rentier Wealth and Wealth Creation If you want to understand why our economy is stagnating and wealth inequality is rising, look at the rise of rentier skims and the resulting decline in wealth creation. Show More Summary

Stocks Have Reached A Permanently High Plateau

Submitted by Charles Hugh Smith from Of Two Minds Stocks Have Reached a Permanently High Plateau A permanently high plateau of stock prices is a marvelous innovation. Somebody said this before, of course, but one glance at a chart of the S&P 500 tells us that stock prices have reached what looks like a permanently high plateau. Show More Summary

Is the $5 Bill the New $1 Bill?

From Charles Hugh Smith’s Of Two Minds blog: It’s starting to feel like a $5 bill is the new $1 bill: everything that could be purchased with one or two dollars not that long ago is now $5 or even $10. A few days ago I was enjoying the Butte County Fair in California’s farm […]

The Great Economic Shoe Waiting To Fall: Loss Of Faith In The Cult Of Central Banking - Charles Hugh Smith

``... much of the supposedly godlike power of central banks is participants' faith in their powers to control not just finance but the real world that can be leveraged by finance. Once this belief fades, so will the powers of central banks... "Don't think it won't happen just because it hasn't happened yet."''

Have We Forgotten What An Authentic Market Is?

Submitted by Charles Hugh Smith from Of Two Minds Have We Forgotten What An Authentic Market Is? Everyone who feels forced to play along plans to exit before the whole rotten structure implodes, but that's not how collapses work. Identifying the erosion of authenticity is intrinsically difficult for two reasons: 1. Show More Summary

Charles Hugh Smith: Here's Why Wages Might Rise Despite Millions of Unemployed Being Available for Work

``... we have a diminishing number of jobs that can be outsourced and a diminishing number of qualified people who can do the work.'' -- We think CHS highlights a number of important issues here, but he does over-emphasize sociological reasons for structural unemployment at the expense of economic ones. Show More Summary

Escaping The Rat-Race

Submitted by Chris Martenson of PeakProsperity, authored by Charles Hugh Smith Escaping the Rat-Race The changing nature of work doesn’t just matter to new graduates seeking their first career-track job—it’s equally important to experienced workers seeking to escape the corporate rat-race or build a new career after a layoff. Show More Summary

Are We Addicted to Failure?

Submitted by Charles Hugh Smith from Of Two Minds Are We Addicted to Failure? Like all addicts, Central Planners are confident they can manage the monkey on their back. But this is a self-serving illusion. Addiction is many things, but beneath its complexities it is a self-destructive expression of the desire to avoid or suppress pain. Show More Summary

Guest Post: How To Find Shelter From The Coming Storms?

Submitted by Charles Hugh Smith from Of Two Minds A Reader Asks: How to Find Shelter from the Coming Storms? Some basic suggestions for those who are seeking shelter from the coming storms of global financial crisis and recession. Reader...Show More Summary

The Generational Short: Banks, Wall Street, Housing And Luxury Retail Are Doomed

Submitted by Charles Hugh Smith from Of Two Minds The Generational Short: Banks, Wall Street, Housing And Luxury Retail Are Doomed If Gen-Y cannot afford to buy Boomers' houses at bubble-level prices, then what will keep housing prices...Show More Summary

The Essential Role Of Volatility, Stress And Dissent

Submitted by Charles Hugh Smith from Of Two Minds 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. Show More Summary

Charles Hugh Smith: A Critique of Piketty's Solution to Widening Wealth Inequality

``The real problem with Piketty's taxation/social welfare solution to wealth inequality is that it does nothing to change the source of systemic inequality, debt-based neofeudalism and neocolonialism.''

Why The Periphery Is Crumbling: The Spoils System Is Cracking

Submitted by Charles Hugh Smith from Of Two Minds Why the Periphery Is Crumbling: The Spoils System Is Cracking Instability starts on the periphery and moves into the core. While it is clear that the instability in periphery nationsShow More Summary

Ukraine: A Deep State Analysis

Submitted by Charles Hugh Smith from Of Two Minds Ukraine: A Deep State Analysis Some preliminary thoughts on a complex situation. It doesn't take any special insight into the situation in Ukraine to conclude that no one narrative illuminates all the dynamics. Show More Summary

We Can Be Certain Of This

Submitted by Charles Hugh Smith from Of Two Minds We Can Be Certain of This Just as the addict feels "I can't live any other way," so we continue clinging to a way of living that is equally self-destructive because we too see no other way to live. Show More Summary

The Recent "New High" In Stocks Is As Bogus As The Unemployment Rate

Submitted by Charles Hugh Smith from Of Two Minds The Recent "New High" in Stocks Is as Bogus as the Unemployment Rate This is what happens when the Status Quo is incapable of reforming itself or recognizing reality: propaganda and bogus statistics are substituted for actual solutions. Show More Summary

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