I signed up on a day of a 40% offer for a membership on Lincoln Square. I didn’t know that I would only get 40% access to my Lincoln Square membership! I’m denied many times as I try to participate on something. I feel shortchanged and I want my money back or full access to Lincoln Square!
The End Of The Line For Fiat Currencies (from Macleod Substack)
The shape of the next financial crisis is now becoming apparent. Rising bond yields, driven by increasing risk in the light of G7 government debt crises in the four major currencies will have the following consequences:
· A collapse in equities, the suddenness of which will be exacerbated by sudden awareness of the knock-on consequences
· Liquidation of malinvestments in the private sector, leading to insolvencies, unemployment, and potential banking distress
· Panicked collateral liquidation of equity stocks by banks as loans become uncovered
· Economic slumps in all the G7, leading to lower tax revenues and higher welfare costs leading to soaring budget deficits, which in turn tightens the bond trap screws
· A doom loop of rising bond yields, interest rates, deficits, collapsing financial collateral values, deepening economic slumps, corporate failures, and banking crises Rinse and repeat, again and again
· Financial and systemic contagion between G7 nations will ensure that none of them escape the collapse, and individual national remedies will be overwhelmed
In a nutshell, the entire system of credit embodied in fiat currencies faces the prospect of a rapid collapse
Beautiful metaphor. It is why, 8 years ago, I began to make a monthly donation to a grassroots tropical reforestation project to take on the complexity of climate change and land disruption. A small act of accountability and reconciliation. It trained me to think about what I could do rather than get stuck in the sense of powerlessness.
Excellent. Thanks for the reminders. Yesterday after the protest I was reflecting on how it felt somehow naive. Your essay brings the context I need to confirm this is a generational project (just like the nefarious machinations of the MAGA/GOP) and to affirm my commitment to gardening our democratic revival. In my local community beavers 🦫 are now celebrated for their canny engineering skills that create lushness out of desiccated areas. Taking a tip from our stalwarts to persevere
Recently I commented on an article: next time, could we go on a walk through the woods? Someone out there out there must have heard. The beautiful photo of the Huron-Manistee National Forest was the first thing I saw. Next followed the words of hope to tend to our democracy as we go forward as we would tend a forest. Both take time, patience and care that will out live us all. Thanks for the photo Susan Dermas. Thanks Trygve for the words of hope.
This is not what a lot of people want to hear. We have, as a people, been overly influenced by the arc of our stories on TV and in the movies, as well as fast food, fast cars, fast everything. I found my sanity in creating and sustaining gardens, not forests (though I did plant a small orchard), but there is much wisdom in taking a long view, as well as investing yourself over time, come what may. Why? Because it is self evident that it matters. Thanks for holding this up for all to see.
Great essay. Very eye-opening. I plan to share it widely.
I signed up on a day of a 40% offer for a membership on Lincoln Square. I didn’t know that I would only get 40% access to my Lincoln Square membership! I’m denied many times as I try to participate on something. I feel shortchanged and I want my money back or full access to Lincoln Square!
The End Of The Line For Fiat Currencies (from Macleod Substack)
The shape of the next financial crisis is now becoming apparent. Rising bond yields, driven by increasing risk in the light of G7 government debt crises in the four major currencies will have the following consequences:
· A collapse in equities, the suddenness of which will be exacerbated by sudden awareness of the knock-on consequences
· Liquidation of malinvestments in the private sector, leading to insolvencies, unemployment, and potential banking distress
· Panicked collateral liquidation of equity stocks by banks as loans become uncovered
· Economic slumps in all the G7, leading to lower tax revenues and higher welfare costs leading to soaring budget deficits, which in turn tightens the bond trap screws
· A doom loop of rising bond yields, interest rates, deficits, collapsing financial collateral values, deepening economic slumps, corporate failures, and banking crises Rinse and repeat, again and again
· Financial and systemic contagion between G7 nations will ensure that none of them escape the collapse, and individual national remedies will be overwhelmed
In a nutshell, the entire system of credit embodied in fiat currencies faces the prospect of a rapid collapse
Beautiful metaphor. It is why, 8 years ago, I began to make a monthly donation to a grassroots tropical reforestation project to take on the complexity of climate change and land disruption. A small act of accountability and reconciliation. It trained me to think about what I could do rather than get stuck in the sense of powerlessness.
Truth
Excellent. Thanks for the reminders. Yesterday after the protest I was reflecting on how it felt somehow naive. Your essay brings the context I need to confirm this is a generational project (just like the nefarious machinations of the MAGA/GOP) and to affirm my commitment to gardening our democratic revival. In my local community beavers 🦫 are now celebrated for their canny engineering skills that create lushness out of desiccated areas. Taking a tip from our stalwarts to persevere
Recently I commented on an article: next time, could we go on a walk through the woods? Someone out there out there must have heard. The beautiful photo of the Huron-Manistee National Forest was the first thing I saw. Next followed the words of hope to tend to our democracy as we go forward as we would tend a forest. Both take time, patience and care that will out live us all. Thanks for the photo Susan Dermas. Thanks Trygve for the words of hope.
This is not what a lot of people want to hear. We have, as a people, been overly influenced by the arc of our stories on TV and in the movies, as well as fast food, fast cars, fast everything. I found my sanity in creating and sustaining gardens, not forests (though I did plant a small orchard), but there is much wisdom in taking a long view, as well as investing yourself over time, come what may. Why? Because it is self evident that it matters. Thanks for holding this up for all to see.
Perfect message for this moment. I love the forest analogy-makes sense and environmental and sustainable to boot!