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Charles Hugh Smith

The Keynesian Cult Has Failed: “Emergency” Stimulus Is Now Permanent
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The Keynesian Cult Has Failed: “Emergency” Stimulus Is Now Permanent

May 24th, 2017 | by Richard Paul
Authored by Charles Hugh Smith via OfTwoMinds blog, Can we finally admit that eight years of following the Keynesian coloring-book have not just failed, but failed spectacularly? What do we call a status quo in which...
How many Law Schools Need To Close? Plenty.
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How many Law Schools Need To Close? Plenty.

June 19th, 2016 | by Richard Paul
The only solution for the surplus of workers with law degrees is a massive, permanent reduction in the issuance of new law graduates. America is in the opening stages of a massive surplus of over-credentialed workers. The...
Work Won’t be Scarce–It’s Paid Work That Will Be Scarce
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Work Won’t be Scarce–It’s Paid Work That Will Be Scarce

June 14th, 2016 | by Richard Paul
We need a new economic model that recognizes the value of useful work that isn’t necessarily profitable. All the media chatter about work disappearing due to automation fails to draw the critical distinction between useful...
An Everyman’s guide to Understanding Cryptocurrencies
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An Everyman’s guide to Understanding Cryptocurrencies

June 13th, 2016 | by Richard Paul
Cryptocurrencies have a role that could increase as global currencies are devalued. When an asset rises by almost 30% in a few weeks, it tends to attract attention.Recently, that asset was bitcoin (BTC). The price of BTC in...
Is the Market Rational After All?
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Is the Market Rational After All?

June 6th, 2016 | by Richard Paul
This is the market we have now: dominated by delusional, irrational central planners with unlimited powers to create money out of thin air to fund their manipulations. For the past decade, attempts to explain the psychology of...
The Five Stages of a Central Bankers’ Failure
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The Five Stages of a Central Bankers’ Failure

May 31st, 2016 | by Richard Paul
Central bankers must accept the complete and utter failure of their policies if we are to move forward. Central bankers are now in the denial and anger stages of Kubler-Ross’s famed stages of loss: denial, anger,...
The Paradox of Marriage
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The Paradox of Marriage

May 24th, 2016 | by Richard Paul
The Paradox of Marriage I was reminded of the dual nature of marriage by two films and a science article: marriage is both advantageous and problematic to the point of torture. Scientific American’s recent issue on human...
What $1 Trillion Looks Like
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What $1 Trillion Looks Like

May 24th, 2016 | by Richard Paul
What $1 trillion looks like A graphic depiction of what $1 trillion looks like in $100 bills. The video begins by showing  $1 million in $100 bills: a small bundle. $100 million fits on a standard shipping pallet. $1 billion...
We’re in the Eye of a Global Financial Hurricane.
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We’re in the Eye of a Global Financial Hurricane.

May 23rd, 2016 | by Richard Paul
We’re in the Eye of a Global Financial Hurricane The only “growth” we’re experiencing are the financial cancers of systemic risk and financialization’s soaring wealth/income inequality. The Keynesian...