Tag Archives: fragility

America 2018: Dicier by the Day

If we look beneath the cheery chatter of the financial media and the tiresomely repetitive Russian collusion narrative (that’s unraveling as the Ministry of Propaganda’s machinations are exposed), we find that America in 2018 is dicier by the day. The more you know … Continue reading

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How Systems Break: First They Slow Down

The reality that cannot be spoken is that all the financial systems we believe are permanent are actually on borrowed time. One way we can judge this decline of resilience is to look at how long it takes systems to … Continue reading

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Massive Central Bank Intrusion Means Ever Increasing System Fragility

In markets distorted by permanent manipulation the most powerful incentive is to borrow as much money as you can and leverage it as much as you can to maximize your gains in risk-on asset bubbles. A core dynamic is laying … Continue reading

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What’s America’s Fragility Score?

By this measure, the U.S. scores very poorly: 4 out of a possible 5 on the Fragility Index. There is a certain logic to the idea that stability is a good predictor for future stability: if a nation’s economy and … Continue reading

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The Three Acronyms That Best Describe This Era: TINA, TANSTAAFL and FUGAZI

TINA and the complacent belief in free lunches strip the resiliency from a system and leave it vulnerable to collapse. It’s tough to select three acronyms that best capture the current perfection of central planning, central banking and centralized propaganda. … Continue reading

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