Booms and Busts

The world now has the impossible choice of permanently reduced productivity and slower economic growth — or the mass bankruptcy of a significant percentage of the economy.

In much of America, the New Deal was run by a small number of very powerful political bosses.

Vikram Mansharamani’s second edition of Boombustology: Spotting Financial Bubbles Before They Burst has all the great insights from the first edition plus a foreword by James Grant.

It is the lethal combination of tariffs and the end of the expansionary phase of the credit cycle which should concern us.

Unlike Greece, Italy or other seriously debt-laden economies, it’s not just government borrowing that’s the main risk to Turkey.

The most characteristic feature of post-WWII business cycles is that they have originated in deliberately inflationary policies directed by central banks. 

Using Japan as a model, governments are steering us toward a worldwide zombie economy — but we're likely to end up with something that looks more like Argentina than Japan.

Government stimulus plans blow up new bubbles to replace the old ones that had previously been created by government also. Let's end the cycle of wealth destruction.

The European central bank has no ammunition left with which to address any serious economic downturn.

The Chinese debt is overwhelming not simply because of the volume, but because the figure has quadrupled in seven years.