Wolfstreet.com offers some useful analysis and charts on real economy trends. Editor Wolf Richter did a worthwhile interview on Peak Prosperity this weekend where he explains, among other things, why assets are not more valuable just because prices go up: “You can’t have median homes that require multi-millionaires to live in them, because you know, we just don’t have that many millionaires.” Also discusses spreading strains in the global banking system and the likelihood of bail-ins from bank equity and bond holders in the next resolution phase. Real world commonsense assessments are helpful.
Wolf Richter joins the podcast this week to discuss the deterioration of the global macro situation, and how he is seeing growing signs of recession breaking out across the economy. Here is a direct video link.
“…one of the biggest mistakes the central banks made during the financial crisis: They stopped the debt from blowing up. So we never had a cleansing.
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