Small business optimism survey, Private sector credit: Expectations all the more trumped up with the new tax bill, but the details show actual conditions aren’t doing so well

by WARREN MOSLER Highlights Optimism among small business owners is surging, according to the National Federation of Independent Business (NFIB), whose Small Business Optimism Index rose 3.7 points in November to … Read more

Exuberant stock market, disappearing middle class, history repeats itself….1 in 5 American households have ‘zero or negative’ wealth, drowning in credit card debt, paychecks just aren't growing

Exuberant stock market, disappearing middle class, history repeats itself [ A 32-year-old mother of 7 children called Florence Owens Thompson, Nipomo, California. February 1936.] One in five American households have … Read more

Morgan Stanley Turns Apocalyptic On Credit… The Forced Redemption Cycle Will Be Catastrophic… The Yellen Put Makes The Financial Markets Even More Fragile Than In 2007

Here Richmond takes offense with the argument that weak growth for much of this cycle has prevented “excesses” from building, and hence an already long cycle can last even longer. … Read more