Charles Hugh Smith

Bitcoin

Projecting the Price of Bitcoin

07/06/2017(0)
The wild card in cryptocurrencies is the role of Big Institutional Money. I’ve taken the liberty of preparing a projection of bitcoin’s price action going forward: You see the ... Read More
median-household-income

Fun with Fake Statistics: The 5% “Increase” in Median Household Income Is Pure Illusion

20/09/2016(0)
The truth is the rich are getting richer and everyone else is losing ground as inflation chews through stagnant incomes. Supporters of the status quo nearly wet their pants ... Read More
Olympics

What Are the Odds that the 2020-2022 Olympics Will Be Cancelled?

25/08/2016(0)
It’s tough to pay for an Olympics when 95% of your supposed “wealth” has vanished. In the modern era (1896-present), the Olympics have only been cancelled in wartime: 1916 ... Read More
globalisation

Globalization’s Few Winners and Many Losers

21/07/2016(0)
Quality, quality of life, and well-being are not easily quantified, so they are ignored. I often write about the Tyranny of Price, the rarely examined assumption that lower prices ... Read More
world_article_image

We’ve Entered an Era of Rising Instability and Uncertainty

19/07/2016(0)
And there you have our future, visible in the 13th, 16th and 18th century price-revolution waves which preceded ours. That we have entered an era of rising instability and ... Read More
Lifecycle of Financialization

Risk On/Risk Off: What Schizophrenic Markets Are Telling Us

11/07/2016(0)
These trends cannot be reversed with yet another rate cut or another “whatever it takes” announcement. In the conventional investment perspective, risk-on assets (i.e. investments with higher risks and ... Read More
NYSE Margin Loans

The Illusion of Safety: Index Funds Are Not Low-Risk

29/01/2016(0)
If the risk-on euphoria of punters borrowing billions of dollars in margin debt doesn’t materialize, stocks could languish for years after falling 50%. The financial service industry’s Prime Directive ... Read More
china-real-estate

Could China’s Housing Bubble Bring Down the Global Economy?

21/01/2016(0)
Who’s going to buy the tens of millions of empty flats held as investments? I’ve been writing a lot about China recently because it’s becoming increasingly clear that China’s ... Read More
jobs-unemployment

The Most Profitable Work Will Be Automated: The Rest Will Be Left to Us

23/12/2015(0)
A new system is self-organizing before our eyes. We just have to stop obstructing its rise and start facilitating its expansion in self-evident ways. What’s abundant and what’s scarce? ... Read More
fed

Why the Fed Has to Raise Rates

04/12/2015(0)
No empire has ever prospered or endured by weakening its currency. A great many insightful commentators have made the case for why the Fed shouldn’t raise rates this month–or ... Read More
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