Charles Hugh Smith·Mar 18Why Credit Creates Bubbles That Break the EconomyWhen credit scales faster than it can be absorbed by productive investments, the resulting credit-asset bubbles break the economy. This is…A response icon1A response icon1
Jarvis mak·Jan 23Where Are Risk-Free Arbitrage Opportunities Hiding?The article argues that the essence of “risk-free arbitrage” lies in cognitive gaps (the “brain”).
Charles Hugh Smith·Nov 25, 2025The Middle Class Is CrackingThe middle class is cracking, but if you want a statistic that “proves” this, there isn’t one. The cracking isn’t a statistic, it’s the…A response icon3A response icon3
Charles Hugh Smith·Oct 23, 2025ZIRP or ZAP? Will the Fed’s ‘Zero-Interest Rate Policy’ Return, and Will It Work?Correspondent Scott suggested I consider the possibility that the powers that be will respond to a weakening of the economy by pushing…A response icon1A response icon1
Charles Hugh Smith·Oct 1, 2025Will AI Crash the Economy?As we all know, the problem with euphoria is the inevitable collision with reality and the resulting disillusionment. But wait — it gets…A response icon2A response icon2
Charles Hugh Smith·Aug 1, 2025Go Ahead and Rage at Boomers, But the Problem Is the Entire Economic OrderA friend sent me a clip of Tucker Carlson going off on the Boomer generation, and I get it. Tucker’s takedown was epic and entertaining (at…A response icon25A response icon25
Charles Hugh Smith·Nov 4, 2024Central Planning: China’s Miracle — and MalaiseChina offers a real-time case study of the upsides and downsides of central planning, broadly defined as the central state establishing…
Charles Hugh Smith·Sep 5, 2024Is the “Everything Bubble” About to Pop?Is the “Everything Bubble” about to pop? Let’s start with what we’re told: there is no bubble, all the assets soaring to unprecedented…A response icon2A response icon2
Charles Hugh Smith·Aug 26, 2024We’ve Left the Bottom 60% in the Dust, but Never Mind: S&P500 to 6000!It’s a toss-up which is wider: the widening gap between the top 10% and the bottom 60%, or the gap between the complacency of the top 10%…A response icon2A response icon2
Charles Hugh Smith·Aug 16, 2024The Super-Wealthy Have a ProblemThe cultural consensus holds that the super-wealthy always manage to come out ahead in any spot of bother. Due to their grip on the levers…
