Ahhh, February, the shortest month of the year. It's that time when skiers and snowboarders squeeze in their last few runs on the black diamond, when the days start becoming a little bit longer, when the first breaks begin to appear in Jack Frost's icy facade. Oh, and tax season. Let's not forget tax season.
Yes, people all over the globe are beginning to get last year's receipts in order and combing their fleece coats in preparation for the annual shearing by the tax “authorities.” In the US, there's an extra bonus this year: all the new hoops, paperwork, bureaucracy, headaches and penalties associated with the Affordable Care Act, aka Obamacare. To be precise, there are over 40 new tax provisions related to the legislation and 33 exemptions that can be claimed, further complicating the already impenetrably dense tax code.
To make matters even worse, all of this new bureaucracy is going to be overseen by the IRS, which just so happens to be going through a “budget crisis.” Congress slashed the IRS budget by $346 million for 2015 and now the poor Internal Revenue Service is claiming there are going to be slowdowns in processing, citing fewer agen...
...more insidious still is what he may be doing in the name of his father's actual libertarian principals. Take his stand against the Federal Reserve, for instance.
...manipulation has been the reason that oil prices were massively over-inflated for the past two decades, and the current plunge is an example of what happens when some of the floors are removed from under that propped-up price.
Assuming that this is just a game of chicken, time is not on Greece's side. Greek finances would dry up within a month of the end of the current agreement... But things are not much rosier for the Eurogroup.
The problem here is that debt itself is the problem, but as we all know... the very monetary system upon which our entire economic house of cards is built is based on debt-based central banker funny money.
So it seems that the deflationary cycle has come to an end...for the moment. But there is still life left in the US dollar bull market, and thus further commodity deflation is highly likely.
This Peer-to-Peer economy that is rising up to replace the Industrial/Information economy is difficult to see in its totality, but is everywhere around us.
...now that this is becoming the fashionable new mini-stimulus for countries suffering in the doldrums of this deflationary cycle, it isn't quite so surprising as it once was. It's now almost predictable.
...what is at stake with every royal succession is not just the domestic politics of Saudi Arabia, but the course of geopolitics and, ultimately, the global economy.
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The creator of the International Forecaster, Bob Chapman.