This Is How Systems Collapse

by Charles Hugh-Smith Flooding the financial system with “free money” only restores the illusion of stability I updated my How Systems Collapse graphic from 2018 with a “we are here” line to indicate our current precarious position just before the waterfall: For those who would argue we’re nowhere near collapse, consider that over 20% of the … Read more

From Ice-Cold to Hot: Daily Pending Home Sales in May so Far, 15 Cities Around the US

A near-real-time roller-coaster of home sales during the pandemic via charts. By Wolf Richter for WOLF STREET. On May 28, I reported how the National Association of Realtors’ Pending Home Sales Index for the US had plunged 34% in April. These are sales where contracts were signed in April, and were expected to close over the next month or … Read more

In a debt deflation depression, oversupply is not the solution… it’s the problem.

#recession … #GFC2 editionvia @sunchartist In a #debt #deflation #depression, oversupply is not the solution… it's the problem. 📉 https://t.co/dslhvHj4W0 — Invariant Perspective (@InvariantPersp1) May 31, 2020 Cuts to employment and spending by state and local governments likely to weigh on growth for years, economists say. https://t.co/vCvFVzQrLm — Real Time Economics (@WSJecon) May 31, 2020 … Read more