John Rubino
Articles by John Rubino
For what seems like decades, other countries have been tiptoeing away from their dependence on the US dollar. China, Russia, and India have cut deals in which they agree to accept each others’ currencies for bi-lateral trade while Europe,...
One of the uncertainties with cryptocurrencies has always been how governments would react once bitcoin and its kin got big enough to actually threaten the monopolies of national fiat currencies.
That day seemed to be approaching as...
That day seemed to be approaching as...
The train wreck that is the state of Illinois has generated a lot of questions lately, including “Will its government ever pass a budget?”, “Will it ever pay its overdue bills?”, and “Is it possible for a state to go bankrupt?”
Looks...
Looks...
It's just common sense: Borrow too much money and the weight of this debt makes it hard to do things that used to be easy. This truism is now (finally!) hitting home, and blame is being apportioned. A couple of recent examples:
Over The...
Over The...
Doing the right thing is hard for both individuals and their governments. Name the goal – maintaining a healthy weight, paying off high-interest credit cards, keeping debt-to-GDP at reasonable levels, whatever – and with each missed...
Last week I ran into a friend whom I’d been worrying about. He’s a real estate appraiser and his work had been drying up as interest rates rose and homeowners stopped refinancing their mortgages.
But now he’s back to being happily...
But now he’s back to being happily...
The frustration out there is palpable. Skim the comments sections of popular financial sites like Zero Hedge or Seeking Alpha and you'll see gloom-and-doomy articles drawing responses like "You've been saying the same %^#&*! thing for...
US growth, such as it is, has lately been driven by a handful of hot sectors. Car sales have set records, high-end real estate is generally way up, and federal spending – based on last year’s jump in the national debt – is booming.
But...
But...
The UK’s Telegraph just published an analysis of global debt that pretty much sums up the coming crisis. Here’s an excerpt with a couple of the more hair-raising charts:
Global Debt Explodes At ‘Eye-Watering’ Pace To Hit £170 Trillion...
Global Debt Explodes At ‘Eye-Watering’ Pace To Hit £170 Trillion...
For a while there it looked like the US and its main trading partners had finally achieved escape velocity. Growth was up, inflation was poking through the Fed's 2% target, and most measures of consumer sentiment were bordering on euphoric...
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