In this week's Off the Cuff podcast, Chris and Mish Shedlock discuss:
- Economic Slowdown
- Economic growth is fast disappearing all across the world
- The Evils Of The Banking System
- Corrupt & corrupted; we need a return to old-school fiduciary stewardship
- Chicago Blues
- A case study for the fraud & rot soon to appear in cities across the US
- Fracking's Legacy
- From poisoned water tables to earthquakes
This week Chris and Mish spent time ticking off the lengthening list of data points that clearly show economic growth is fast disappearing across the globe. Both agree it's simply a matter of time before the financial markets snap out of their liquidity-induced haze and remember that asset prices are a function of future earnings expectations. With growth fast becoming scarce, asset prices must, ipso facto, fall. And given their current lofty levels, fall hard.
Of course, the dangerous instability of today's markets is a direct effect of the abuses perpetrated by our modern banking system — which today is much more a cancer than a caretaker for the public it's supposed to serve. Chris and Mish take a harsh but heartfelt tangent into the evils the banks have perpetrated. If we're ever going to free ourselves from the tentacles of modern banking, we need to be ready to use the next crisis as the catalyst for change while the banks are weakened and in the crosshairs of public ire.
by pgp