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

WHERE ARE THE HEROES NOW?

by Jim Quinn Arresting gym owners, salon owners, and barbers is easy. How about arresting real criminals? Maybe the heroes are too busy planning their next hero parade for the other hero hospital tik tok dancers. At least they’ll be able to get thousands of new vehicles, since they seem to park in riot zones … Read more

WELL, THIS DOESN’T FIT TODAY’S NARRATIVE:

● Jail records show most arrested in Minneapolis riots have Minnesota addresses. —KMSP, the Minneapolis Fox TV affiliate, today. ● “[Adam Leggat, a former British Army counterterrorism officer who now works as a security consultant specializing in crowd management for the Densus Group] said intelligence reports from his colleagues indicate most of the hard-core protesters in … Read more

The U6 unemployment rate has risen from 7% to 23% in two months. These protests might drag on much longer than normal…

by mark000 I’m seeing very little discussion in the MSM mentioning this. They are treating the current situation as just another “protests/riots because of police brutality”. IMO it’s different this time….   Great depression-like jobless rate seen for US: Friday’s jobs report likely to show the unemployment rate soared to nearly 20% Washington: The devastation … Read more

BLUE CITIES ALL OVER ARE IN TROUBLE

Curfew in effect as protests continue in Nashville. “The mayor has implemented a curfew for Nashville residents. Buildings were damaged, a fire at the courthouse and officers were attacked as protests continue in downtown Nashville on Saturday evening. Mayor John Cooper signed an executive order, which declared a state of civil emergency, and setup a curfew … Read more