Author Archive | Charles Hugh Smith

Our Winter of Discontent

The tragedy is so few act when the collapse is predictably inevitable, but not yet manifesting in daily life. That chill you feel in the financial weather presages an unprecedented–and for most people, unexpectedly severe–winter of discontent. Rather than sugarcoat what’s coming, let’s speak plainly for a change: none of the promises that have been made to […]

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3 Crazy Things

How can central banks “retrain” participants while maintaining their extreme policies of stimulus? Human habituate very easily to new circumstances, even extreme ones. What we accept as “normal” now may have been considered bizarre, extreme or unstable a few short years ago. Three economic examples come to mind: 1. Near-zero interest rates. If someone had announced to […]

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The Ghosts of 1968

The hope of 1968 that public demonstrations can actually change the power structure has been lost. 1968 was a tumultuous year globally and domestically. The Prague Spring in Czechoslovakia–a very mild form of political and cultural liberalization within the Soviet bloc–was brutally crushed by the military forces of the Soviet Union. The general strikes and student […]

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Is Congress Finally Pushing Back

The last time the U.S. Congress pushed back against the Imperial Presidency and the over-reach of the nation’s Security Agencies was 43 years ago, in 1975. The last time the U.S. Congress pushed back against the Imperial Presidency and the over-reach of the nation’s Security Agencies was 43 years ago, in 1975. In response to the […]

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Political Correctness

No wonder the Ruling Elites loves political correctness: all those furiously signaling their virtue are zero threat to the asymmetric plunder of the status quo. The Ruling Elites loves political correctness, for it serves the Elite so well. What is political correctness? Political correctness is the public pressure to conform to “progressive” speech acts by uttering the expected code words […]

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The Pie Is Shrinking

The ensuing social disunity and disruption will be of the sort many alive today have never seen. Social movements arise to solve problems of inequality, injustice, exploitation and oppression. In other words, they are solutions to society-wide problems plaguing the many but not the few (i.e. the elites at the top of the wealth-power pyramid). The […]

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Central Banks

This is one reason why I anticipate “unexpected” disruptions in the global economy in 2018. The mere mention of “central banks” will likely turn off many readers who understandably have little interest in convoluted policies and arcane mumbo-jumbo, but bear with me for a few paragraphs while I make the case for something to happen in […]

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Have We Reached Peak NFL?

How will the owners and managers of the multi-billion-dollar NFL empire handle the league’s decline phase? OK, I get it: pro football is so popular because it’s one of the last refuges of modern life that hasn’t been ruined by politics. Oops, scratch that. But we shouldn’t pin the decline of pro football’s popularity (as measured […]

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Dear Homeowner: If You’re Paying $260,000 in Property Taxes over 20 Years, What Exactly Do You “Own”?

If we understand property taxes as a “lease from the local government for the right to gamble on another housing bubble arising,” we see “ownership” in a different light. We’re constantly told ours is an ownership society in which owning a home is the foundation of household wealth. The concept of ownership may appear straightforward, […]

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