John Rubino

Articles by John Rubino

As Washington borrows and spends to keep the pandemic lockdown from turning into a Greater Depression, federal government debt is approaching the same percentage of GDP as during WW II. This is a nice journalistic hook, especially because...
US stocks are behaving amazingly well given the political and economic near-chaos of the past few months. This is probably the first recession that inflated rather than popped financial asset bubbles.

Why? Because panicked governments...
The US has its share of problems right now (see One Crisis Is Manageable. Five Might Not Be).

But China is right up there in the “when it rains it pours” sweepstakes. As the apparent source of the covid-19 pandemic, it’s still battling...
Let’s say President Trump is right about the coronavirus “miraculously” fading away as temperatures rise in the Summer. Will things then go back to the old normal of globalization, free trade and finance-driven “growth”?

Almost...
Summary


The gold futures market took a big step towards bullish - or at least neutral - in the past week.
This divergence between gold (wait and see) and silver (start buying now) is confirmed by the gold/silver ratio, which is at...
There are trillions of dollars of bonds in the world with negative yields – a fact with which future historians will find baffling.

Until now those negative yields have been limited to the safest types of bonds issued by governments and...
Towards the end of long expansions (this one is the longest on record) things get tight. Factories operate flat-out and start raising prices. Good workers become harder to find and companies start competing for them with higher wages and...
Not so long ago, the major US political parties had very different views on monetary policy. Democrats, representing labor, wanted high government spending, low interest rates and generally easy money to create as many jobs as possible....
Paying someone in order to lend them money seems kind of pointless.

Yet the practice of stashing wealth in places where it yields nothing (and maybe even costs a bit for storage) is more common than you might think. Chinese, Russians,...
The business cycle has its stages, and they’re usually both predictable and logical. For example, governments tend to generate a lot of tax revenue late in an expansion as more people get jobs and start paying income taxes and rising stock...

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Silver has 47 protons and 61 neutrons

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