John Rubino

Articles by John Rubino

Financial crises tend to start at the periphery and work their way into a system’s core. Think subprime mortgages (a tiny little niche of a few hundred billion dollars) that blew up in 2007 and nearly brought the curtain down on the whole...
Back in the 1990s, critics of the dot-com bubble used to point out that the global economy depended on the US stock market and the US stock market depended on, like, ten Internet stocks with negative aggregate earnings. The resulting...
Friday’s commitment of traders (COT) report for gold and silver offered more of the same. Which is to say the gold futures action was boring and the silver action was strange and exciting.

Starting with gold, the large speculators – who...
So many patterns that have held for decades seem to have broken down, leading to one of two conclusions: Either this time really is different in ways that appear to violate what used to be seen as iron-clad laws of finance, or those laws...
If you’re getting the sense that stocks always go up, that’s because they’ve been doing so for a really, really long time. From CNBC today:

On the bull market’s ninth birthday, here’s how it stacks up against history

• The Dow has...
Normally the action in the gold and silver futures markets tends to be pretty similar, since the same general forces affect both precious metals. When inflation or some other source of anxiety is ascendant, both metals rise, and vice versa...
Now that equities are behaving the way they should have since, oh, 2013 – volatile with a pronounced down bias – everyone is wondering how far the crazy will go before the Fed starts buying the S&P 500.

Short sellers, of course,...
The Money Bubble is inflating at different speeds in different places. But apparently no culture is immune:

Household Debt Sees Quiet Boom Across the Globe

(Wall Street Journal) – A decade after the global financial crisis, household...
The “pension crisis” is one of those things – like flying cars and nuclear fusion – that’s always coming but never arrives. But for pension funds reason it hasn’t yet happened is also the reason that it will happen, and soon:

The Risk...
Self-destruction usually happens in stages. At first there’s a binge in which the thrill outweighs the sense of transgression. This is usually followed by remorse, acknowledgement of risks, and an attempt to reform.

But straight-and-...

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