Business

Authored by Charles Hugh Smith via OfTwoMinds blog,

Note that widening wealth and income inequality is a non-partisan trend.

Authored by Ron Patterson via OilPrice.com,

This assessment is based on the data in the 2017 BP Statistical Review of World Energy available here. As such it uses that review’s definition of oil which is crude and condensate and natural gas liquids, uncompensated for their different energy contents or values of refined product components.

Figure 1: World Oil Production 1990 – 2017

(Click to enlarge)

With Americans left with only one option - indentured servitude - to maintain any semblance of normal quality of life - especially at Christmas - we thought it worthwhile considering which US States have the most people in debt.

Using data from anonymous consumer-level records from a major credit bureau, the Urban Institute was able to release figures on debt levels across America.

This was not teh Santa Claus rally that everyone was promised...

Even as China’s credit-fueled boom – which helped it surpass Japan in 2011 to become the world’s second-largest economy – is losing its efficacy as new credit creation is now failing to drive economic growth as we pointed out last week (and many times before that), many economists believe it will eventually surpass its western rivals and become the world’s largest economy.