During the Next Crisis, Central Banking Itself Will Fail

For six years, the world has operated under a complete delusion that Central Banks somehow fixed the 2008 Crisis.

 

All of the arguments claiming this defied common sense. A 5th grader would tell you that you cannot solve a debt problem by issuing more debt. If the below chart was a problem BEFORE 2008… there is no way that things are better now. After all, we’ve just added another $10 trillion in debt to the US system.

 

How Turkey's Erdogan "Risks The Destruction Of The Country"

As those who frequent these pages are no doubt aware, Turkish President Recep Tayyip Erdogan has lost his mind.

To the extent Washington’s favorite autocrat had any sanity left going into the summer, he lost it completely in the wake of June elections that saw AKP lose its absolute majority in Parliament. That meant Erdogan would have a more difficult time rewriting the political rule book on the way to consolidating his power in an executive presidency. 

Pages