Vanity Fair Sees the Spending Binge and Knows Something is Wrong

I wouldn’t often turn to Vanity Fair for real news but the magazine seems to have some insight into our dire financial situation. Here’s a taste: This start to 2016 comes off the worst year for markets since 2008. Hedge funds lost an average of nearly 4 percent in 2015, according to estimates from hedge-fund research firm HFR Inc, as even top fund managers had their most terrible years in history. Billionaire financier George Soros, speaking at an economic forum last week, told an audience that Read more […]

Millennials Will Crash the Economy. Good Job!

The only way a financial bubble can end is to collapse. But the more obvious it becomes that the economy is on an unsustainable path, the more vested interests will try to extend it, making the crash even worse. As a result, even though it is going to be grim, signs that they are no longer going to be able to sustain the economy are actually good news. Did you know that 61 percent of Millennials don’t own one credit card? At his Global Economic Analysis blog, Mish quotes from MarketWatch: Read more […]