Charles Hugh Smith: This Turmoil Is Not All Bad!

2023-03-03

There are millions of empty apartments in China that developers and investors are buying as a way to store their wealth, which has disconnected the housing market from the needs of ordinary people. This is a result of entrenched legacy systems that make it difficult to make changes, even if they would benefit the country as a whole. China needs to break free from these systems to create a more sustainable and equitable future.

Watch more of this short video from Turmoil Ahead As We Enter The New Era Of ‘Scarcity’ | Charles Hugh Smith

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2023-03-02

We are currently in the midst of a significant and complicated transition from one era to another. This transition is characterized by confusion and complexity because there are people who are benefiting from the current system and they will resist any change. Meanwhile, there are also forces of adaptation and evolution that are working to determine the best way forward.

Watch more of this short video from Turmoil Ahead As We Enter The New Era Of ‘Scarcity’ | Charles Hugh Smith

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2023-01-05

This dynamic–making problems much worse by forcing more of whatever worked in the previous era into a saturated, increasing unstable new era–receives little attention or understanding. Eras may last decades, and only those who’ve lived long enough to recall previous eras have experienced the transition from one era to the next.

2022-12-06

Who believed that central banks’ financial perpetual motion machine was anything more than trickery designed to generate phantom wealth? Central banks seem to have perfected the ideal financial perpetual motion machine: as credit expands, money pours into risk assets, which shoot higher under the pressure of expanding demand for assets that yield either hefty returns (junk bonds) or hefty capital gains as the soaring assets suck in more capital chasing returns.

2022-11-28

Few seem alive to the potentially consequential financial risks arising from uncertainties evolving in China. One thing we know rather definitively is that markets don’t like uncertainty: uncertainty is Kryptonite to markets. Another thing we know is that the events unfolding in China are generating uncertainty on multiple levels.

2022-11-14

When bubbles pop, it’s natural selection at its most unforgiving: "adapt or die," and those who ignore or discount consequential asymmetries will have a very difficult time navigating the triage. After years of relative stability, it seems asymmetries, distortions and denial are playing out in unexpectedly destabilizing ways.

2022-10-26

So-called "cosmetic work" can cost tens of thousands of dollars.Now that housing is finally rolling over due to rising mortgage rates and bubble valuations, many of those who have been priced out of the market are hoping to take advantage of lower prices.