Sovereign Default History

  Today Argentina defaulted on its external debt for the 8th. time since 1800 AD. The Economist publishes this chart ranking countries on the criteria of how many times they have defaulted on their external debt in the last 214 years. Curiously both Germany and Portugal have defaulted 4 times. Nothing seems to last (or … Continue reading Sovereign Default History

Reverse Robin Hood explained

In this article published by Zerohedge we can find a cogent explanation of the present process of wealth redistribution from poor to rich, a phenomenon felt everywhere. Whether this process is an intended one, a sort of conspiracy, or just "collateral damage" of unsound monetary and economic policies, is for the reader to decide. This … Continue reading Reverse Robin Hood explained

TYReads The End Of German Hyperinflation

Today 90 years ago, on the 15 of November 1923, by fixing the value of the recently created Rentenmark at a rate of 1 trillion (1.000.000.000.000) Papermark per 1 Rentenmark, and one month later, by setting the rate of the Rentenrmark against the US Dollar at a rate of 4,2 Rentenmark per 1 US Dollar, … Continue reading TYReads The End Of German Hyperinflation

TYR reads “…It’s a Different Economy”

College Grads: It's a Different Economy @ Of Two Minds Charles Hugh Smith aptly summarizes and describes the structure of the post-2008 USA economy, a description that by extension and with some tweaks can be applied to most western economes. An economy in which processes in the making since the end of WW2, if not sooner, … Continue reading TYR reads “…It’s a Different Economy”

“He who controls the spice controls the universe.”

If you are a science fiction fan you'll probably remember Dune, the excellent novel (a series of them actually) by Frank Herbert, and the film by David Lynch based on the same book. In it, one of the villains, Baron Vladimir Harkonnen, utters “He who controls the spice controls the universe”, the spice being a rare … Continue reading “He who controls the spice controls the universe.”

4 April 2013 TYR reads

Helicopter QE will never be reversed @ The Telegraph Ambrose Evans-Pritchard hints at what the nature of the end-game of this monetary era might be...and it is printing money...forever. With an apparently neutral style and quoting potentially apocalyptic outcomes if permanent money printing by Central Banks is not considered ( "A breakdown of the global trading … Continue reading 4 April 2013 TYR reads

Back to Mesopotamia by the way of Cyprus

In Back to Mesopotamia? a now prescient report by the Boston Consulting Group (BCG) published in September 2011 it was argued that, while inflation is the unstated and preferred "solution" to the present debt crisis in the western societies, for a variety of reasons, among them the deleveraging pressure, low demand for credit and potential … Continue reading Back to Mesopotamia by the way of Cyprus

TYR reads “… a de facto coup d’état by Wall Street”

David Stockman On "The Great Deformation" And The US Treasury As "The M&A Department Of Goldman Sachs" @ Zerohedge Zerohedge publishes this excerpt from David Stockman's upcoming book The Great Deformation: The Corruption Of Capitalism In America David Alan Stockman (born November 10, 1946) is a former U.S. politician and businessman, serving as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of … Continue reading TYR reads “… a de facto coup d’état by Wall Street”

24 January 2013 TYR reads: Apparitions in the Fog

Apparitions in the Fog @ The Burning Platform In this apocalyptic article, Jim Quinn exposes the foundations of the present economic "system". With the assistance of a series of charts, it is convincingly argued that: the economic recovery is a mirage, that the middle class is being destroyed in the USA, and by extension in the … Continue reading 24 January 2013 TYR reads: Apparitions in the Fog

Make nominal spending the new target? We hope not.

In the January 2 2013 edition of the Financial Times Mr. Scott Summer, economics professor at Bentley University, publishes an article titled Make nominal spending the new target, where he argues for the revolutionary, and increasingly MSM-pushed idea of making Nominal GDP Targeting (NGDPT) the official policy of central banks in most western countries. This policy … Continue reading Make nominal spending the new target? We hope not.