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Contra Club

QE Is Clearly Destroying Japan, So BoJ Panics Into More

The precursor event of every hyperinflationary episode is not as conventional wisdom currently holds. Certainly there are conditions that are present in each and every one, including desperate fiscal imbalances that ultimately become expressed in growing monetarism, but the true cause that turns those troubling circumstances to total and complete wipeout and disaster is tunnel…

The Washington/Wall Street “Recovery” Narrative Is An Endless Tissue Of Lies

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If GDP had been deflated over the years with CPI…… that measly 2.3% growth of per-capita GDP since 2007, as crummy as it may appear, would likely be negative. And that explains why so many people – struggling with soaring rents, medical expenses, college costs, etc. – find that their slice of the economic pie has been shrinking since the financial crisis.

Contra News & Views

China’s Credit Machine Stutters: Bank Deposits Drop For First Time Since 1999

A 950 billion yuan fall in the third quarter to 112.7 trillion yuan was the first since at least 1999, according to data from the People’s Bank of China. “Low deposit growth is an accurate indicator of the state of free cash flow for consumers and businesses alike,” Jim Antos, a Hong Kong-based analyst at Mizuho Securities Asia Ltd., said in a note. “The situation looks negative.”