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Economic recovery hopes are likely to be thwarted by COVID-19 until there is a vaccine, and in the meantime, supply is likely to overwhelm demand in most industrial commodities and consumer goods.  Central bank interventions, ETFs and extreme financial leverage … Continue reading →

As the price of oil now drowns in oversupply, financial bubbles bust retirement plans once more, hundreds of thousands of overvalued ‘investment’ properties sit empty and income-less in cities all over the globe, and inventories of excess consumer goods like … Continue reading →

Conventional economic theory assumes that households and businesses will always borrow when credit is made available and they have the cash flow to service debt.  As debt levels expand asset prices and economic activity rise along for the ride.  But … Continue reading →