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Chris Martenson

Image | Off the Cuff: Winter is Coming
Off the Cuff: Winter is Coming
 PREVIEW

In this week's Off the Cuff with Mish & Chris podcast, Mish and Chris discuss:

  • No wonder people are confused
    • Sloppy journalism abounds in the general media
  • The world's addiction to low rates
    • Prolonging & worsening our predicament
  • Spanish storm clouds
    • Insolvency is becoming increasingly clear 
  • Predicting the Fed's next move
    • Will there be action before the election?

Summer's calm is now ancient history, and a foreboding instability is growing in the markets. The protracted, suppressed-interest-rate environment has lasted so long that market forces are beginning to boil over in points of weakness faster than central planners can contain them (e.g., Spain). Not only have financial exchanges become addicted to low rates, they have also become dependent upon expectations of ever more liquidity. If one of these two fails to materialize, markets will go into withdrawal shock – with drastic implications.
Off the Cuff: Winter is Coming
 PREVIEW

In this week's Off the Cuff with Mish & Chris podcast, Mish and Chris discuss:

  • No wonder people are confused
    • Sloppy journalism abounds in the general media
  • The world's addiction to low rates
    • Prolonging & worsening our predicament
  • Spanish storm clouds
    • Insolvency is becoming increasingly clear 
  • Predicting the Fed's next move
    • Will there be action before the election?

Summer's calm is now ancient history, and a foreboding instability is growing in the markets. The protracted, suppressed-interest-rate environment has lasted so long that market forces are beginning to boil over in points of weakness faster than central planners can contain them (e.g., Spain). Not only have financial exchanges become addicted to low rates, they have also become dependent upon expectations of ever more liquidity. If one of these two fails to materialize, markets will go into withdrawal shock – with drastic implications.
Image | Off the Cuff: The Calm Breaks
Off the Cuff: The Calm Breaks
 PREVIEW

In this week's Off the Cuff with Mish & Chris podcast, Mish and Chris discuss:

  • Europe begins to turn on itself
    • The battle for political union has begun
  • The dangerous erosion of our human capital
    • Too many out of work for too long
  • Gold's prospects
    • Set to shine?

We're beginning to see a departure from the calm summer the world has enjoyed. With the distraction and global camaraderie of the Olympics behind us and the ever-growing mountain of unaddressed problems ahead, changes are afoot. In Europe, Germany is standing firm on its demands for more political union before agreeing to further fiscal measures – and left-leaning socialist leaders are uniting in opposition. In countries like Greece and Spain (and to a certain extent the U.S.), the protracted unemployment among younger workers threatens to create a "lost generation" where skills, aptitude, and motivation atrophy to the point where national social capital becomes permanently impaired. 

Chris and Mish discuss the prospects for the precious metals. This conversation was recorded before Bernanke's comments today in Jackson Hole – though they appear to have since proved prescient.
Off the Cuff: The Calm Breaks
 PREVIEW

In this week's Off the Cuff with Mish & Chris podcast, Mish and Chris discuss:

  • Europe begins to turn on itself
    • The battle for political union has begun
  • The dangerous erosion of our human capital
    • Too many out of work for too long
  • Gold's prospects
    • Set to shine?

We're beginning to see a departure from the calm summer the world has enjoyed. With the distraction and global camaraderie of the Olympics behind us and the ever-growing mountain of unaddressed problems ahead, changes are afoot. In Europe, Germany is standing firm on its demands for more political union before agreeing to further fiscal measures – and left-leaning socialist leaders are uniting in opposition. In countries like Greece and Spain (and to a certain extent the U.S.), the protracted unemployment among younger workers threatens to create a "lost generation" where skills, aptitude, and motivation atrophy to the point where national social capital becomes permanently impaired. 

Chris and Mish discuss the prospects for the precious metals. This conversation was recorded before Bernanke's comments today in Jackson Hole – though they appear to have since proved prescient.
Image | Positioning for the Drought’s Aftermath
Positioning for the Drought’s Aftermath
 PREVIEW

Executive Summary

  • Why less water means higher electricity prices (and possibly reduced availability)
  • Where technology has limitations in dealing with these challenges to our food and energy systems
  • What to do about the coming higher food costs
  • Home investments to make now that will have outsized benefits later
  • Why to anticipate a more volatile end to 2012
Positioning for the Drought’s Aftermath
 PREVIEW

Executive Summary

  • Why less water means higher electricity prices (and possibly reduced availability)
  • Where technology has limitations in dealing with these challenges to our food and energy systems
  • What to do about the coming higher food costs
  • Home investments to make now that will have outsized benefits later
  • Why to anticipate a more volatile end to 2012
Image | The U.S. Drought Is Hitting Harder Than Most Realize
The U.S. Drought Is Hitting Harder Than Most Realize

This is an important update on the U.S. drought of 2012, the combined record-setting July land temperatures, and their impact on food prices, water availability, energy, and even U.S. GDP. 

Even though the mainstream media seems to have lost some interest in the drought, we should keep it front and center in our minds, as it has already led to sharply higher grain prices, increased gasoline costs (via the pass-through of higher ethanol costs), impeded oil and gas drilling activity in some areas (due to a lack of water), caused the shutdown of a few operating electricity plants, temporarily reduced red meat prices (but will also make them climb sharply later) as cattle are dumped on feed- and pasture-management concerns, and blocked and/or reduced shipping on the Mississippi River.  All this and there's also a strong chance that today's drought will negatively impact next year's winter wheat harvest, unless a lot of rain starts falling soon.
The U.S. Drought Is Hitting Harder Than Most Realize

This is an important update on the U.S. drought of 2012, the combined record-setting July land temperatures, and their impact on food prices, water availability, energy, and even U.S. GDP. 

Even though the mainstream media seems to have lost some interest in the drought, we should keep it front and center in our minds, as it has already led to sharply higher grain prices, increased gasoline costs (via the pass-through of higher ethanol costs), impeded oil and gas drilling activity in some areas (due to a lack of water), caused the shutdown of a few operating electricity plants, temporarily reduced red meat prices (but will also make them climb sharply later) as cattle are dumped on feed- and pasture-management concerns, and blocked and/or reduced shipping on the Mississippi River.  All this and there's also a strong chance that today's drought will negatively impact next year's winter wheat harvest, unless a lot of rain starts falling soon.
Image | Keith Fitz-Gerald: The Perils of Underestimating Complexity & Mispricing Risk
Keith Fitz-Gerald: The Perils of Underestimating Complexity & Mispricing Risk

"If you’re rich you get a bailout. If you’re poor you get a handout. And if you’re middle class you get left out. " That's not a sustainable way to run the system, exclaims investment strategist Keith Fitz-Gerald.

A cancer at the core of our current economy is the magical thinking, "no pain, all gain" philosophy, pursued by those running it. They are doing all they can to remove the consequences of failure from the system — not realizing that failure plays an essential 'waste-clearing' function of a healthy free market.

Without the discipline of Darwinism, the individual actors in the system make all sorts of malinvestments that would never make sense in an efficient marketplace. But since the losses from these inane pursuits are socialized, there's no incentive to stop making them. At least, up until the point where the class who's back is burdened with paying for the socialized messes finally breaks.
Keith Fitz-Gerald: The Perils of Underestimating Complexity & Mispricing Risk

"If you’re rich you get a bailout. If you’re poor you get a handout. And if you’re middle class you get left out. " That's not a sustainable way to run the system, exclaims investment strategist Keith Fitz-Gerald.

A cancer at the core of our current economy is the magical thinking, "no pain, all gain" philosophy, pursued by those running it. They are doing all they can to remove the consequences of failure from the system — not realizing that failure plays an essential 'waste-clearing' function of a healthy free market.

Without the discipline of Darwinism, the individual actors in the system make all sorts of malinvestments that would never make sense in an efficient marketplace. But since the losses from these inane pursuits are socialized, there's no incentive to stop making them. At least, up until the point where the class who's back is burdened with paying for the socialized messes finally breaks.
Image | Gold Breaks Out
Gold Breaks Out
 PREVIEW

Gold is currently at $1,674 per ounce, having advanced $75 over the past 5 days.  Importantly, from a technical perspective, the gigantic wedge that gold has been tracing out since last August (for over a year now) has been breached to the upside.

We've been tracking this in our podcasts with Mish for a while.  This is the most newsworthy advance for gold in…well, a year.

Gold Breaks Out
 PREVIEW

Gold is currently at $1,674 per ounce, having advanced $75 over the past 5 days.  Importantly, from a technical perspective, the gigantic wedge that gold has been tracing out since last August (for over a year now) has been breached to the upside.

We've been tracking this in our podcasts with Mish for a while.  This is the most newsworthy advance for gold in…well, a year.

Image | Ask the Adviser: Bob Fitzwilson
Ask the Adviser: Bob Fitzwilson

This week, we’re trying something new in our regular podcast series. Chris talks with Bob Fitzwilson, founder of one of the financial advisory firms that we endorse.

Last week we invited Peak Prosperity readers to submit their top questions about money and investing. You didn’t disappoint.

In the podcast below, Chris puts your questions to Bob. We think you’ll be pleased with the results.
Ask the Adviser: Bob Fitzwilson

This week, we’re trying something new in our regular podcast series. Chris talks with Bob Fitzwilson, founder of one of the financial advisory firms that we endorse.

Last week we invited Peak Prosperity readers to submit their top questions about money and investing. You didn’t disappoint.

In the podcast below, Chris puts your questions to Bob. We think you’ll be pleased with the results.
Image | Money Map Press: Pyramid Scheme Video
Money Map Press: Pyramid Scheme Video

I recently spent three days with a 12-member film crew, Dr. Kent Moors, Keith Fitz-Gerald, and the Money Map publishing team to create a 78-minute video organized around the central ideas in the Crash Course.

It is now live and being marketed to the world, and it is important to me that you understand the reasoning and context behind this effort. Before I do, I just want to say that I am quite pleased with both the production quality and message fidelity of the final product.
Money Map Press: Pyramid Scheme Video

I recently spent three days with a 12-member film crew, Dr. Kent Moors, Keith Fitz-Gerald, and the Money Map publishing team to create a 78-minute video organized around the central ideas in the Crash Course.

It is now live and being marketed to the world, and it is important to me that you understand the reasoning and context behind this effort. Before I do, I just want to say that I am quite pleased with both the production quality and message fidelity of the final product.
Image | Off the Cuff: Waiting for Reality to Arrive
Off the Cuff: Waiting for Reality to Arrive
 PREVIEW

In this week's Off the Cuff with Mish & Chris podcast, Mish and Chris address:

  • The unbearable lightness of financial markets
    • How can stocks be so high on such poor economic fundamentals?
  • California's warning signs
    • Are retail sales falling off a cliff?
  • Exiting the euro
    • What, exactly, would be the consequences for countries doing this?
  • Mining stocks
    • What's the risk/return?

Europe slipping deeper into recession, rapidly rising food prices, China headed for a soft (or maybe not-so-soft) landing, Japan struggling, oil prices still near triple digits, US unemployment stubbornly over 8% — do these seem like the sort of fundamentals that justify a stock market within a few percentage points of its all-time highs? 

Yet here we are.

Chris brings back new evidence that institutional money managers are just as stymied, flummoxed, and nervous as we are about these ridiculously elevated markets. If you're tired of the lack of the logic and are feeling that a bad reckoning is inevitable, you're not alone…
Off the Cuff: Waiting for Reality to Arrive
 PREVIEW

In this week's Off the Cuff with Mish & Chris podcast, Mish and Chris address:

  • The unbearable lightness of financial markets
    • How can stocks be so high on such poor economic fundamentals?
  • California's warning signs
    • Are retail sales falling off a cliff?
  • Exiting the euro
    • What, exactly, would be the consequences for countries doing this?
  • Mining stocks
    • What's the risk/return?

Europe slipping deeper into recession, rapidly rising food prices, China headed for a soft (or maybe not-so-soft) landing, Japan struggling, oil prices still near triple digits, US unemployment stubbornly over 8% — do these seem like the sort of fundamentals that justify a stock market within a few percentage points of its all-time highs? 

Yet here we are.

Chris brings back new evidence that institutional money managers are just as stymied, flummoxed, and nervous as we are about these ridiculously elevated markets. If you're tired of the lack of the logic and are feeling that a bad reckoning is inevitable, you're not alone…
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