Money and Banks

One: the Republicans want big cuts and austerity. Two: The US has never defaulted before. Three: Default is the end of the world. 

A "soft landing" is impossible unless the government cuts both taxes and government spending at the same time interest rates are rising. This won't happen, so get ready for a hard landing. 

We are familiar with the five stages of grief. However, it is not a stretch to apply those stages to what is happening to the banking system. Right now, we are in the second stage: anger.

A new Fed survey shows that banks are cutting back on lending big time. Over the past thirty-five years, this almost always predicts recession. Our economy can't survive without endless new infusions of easy money. 

The dollar became the dominant global currency not so much because of its own merits, but because of the self-destruction of the pound sterling caused by the British state and central bank.

While the Fed and the Biden administration try to assure Americans that their banks are safe and secure, the numbers tell a different story.

April was yet another month of declining real wages, and was the twenty-fifth month in a row during which growth in average hourly earnings failed to keep up with price inflation.

Dr. Paul Cwik joins Bob to discuss the inverted yield curve's "signal" of an impending recession.

Despite the soothing hot air from the White House and Fed officials, the financial system is becoming increasingly fragile and unstable. Maybe all of that intervention the past decade was not wise.

Canada created its central bank during the Great Depression, ostensibly to stabilize the currency and protect the banking system. Today, that system is falling apart, thanks to inflationary central bank policies.