Sleepwalking on Megathreat Mountain

Sleepwalking on Megathreat Mountain

Whatever one’s favored terminology for describing the current moment, there is widespread agreement that we are facing unprecedented, unusual, and unexpected levels of uncertainty, auguring a future of crisis, instability, and conflict. But whether we will...
More War Means More Inflation

More War Means More Inflation

Advanced economies and emerging markets are increasingly engaged in necessary “wars” – some real, some metaphorical – that will lead to even larger fiscal deficits, more debt monetization, and higher inflation on a persistent basis. The future...
The Unavoidable Crash

The Unavoidable Crash

After years of ultra-loose fiscal, monetary, and credit policies and the onset of major negative supply shocks, stagflationary pressures are now putting the squeeze on a massive mountain of public- and private-sector debt. The mother of all economic crises looms, and...

This week, PS talks with Nouriel Roubini, Professor Emeritus of Economics at New York University’s Stern School of Business, Chief Economist at Atlas Capital Team, CEO of Roubini Macro Associates, Co-Founder of TheBoomBust.com, and the author...
The Age of Megathreats

The Age of Megathreats

For four decades after World War II, climate change and job-displacing artificial intelligence were not on anyone’s mind, and terms like “deglobalization” and “trade war” had no purchase. But now we are entering a new era that will more...
The Stagflationary Debt Crisis Is Here

The Stagflationary Debt Crisis Is Here

The Great Moderation has given way to the Great Stagflation, which will be characterized by instability and a confluence of slow-motion negative supply shocks. US and global equities are already back in a bear market, and the scale of the crisis that awaits has not...