World Economic Fuck'em

Welcome To The Theater Of The Absurd Authored by Charles Hugh Smith via OfTwoMinds blog, The real world no longer matters, what matters is the performance on stage. Welcome to the Theater of the Absurd. In the present era, all the world is a stage and everything is a performance on that stage: welcome to the Theater of the Absurd, a Hollywood set fabricated of cardboard and plaster made to look like gold leaf and marble columns, where the contraptions and ropes that do the magic are hidden behind purple velvet drapery. Every detail has...

Iraq's Ruling Pro-Iran Bloc Races To Choose PM, While US Rejects Main Candidates Via The Cradle The US has suspended all funding and security coordination with Iraq, and shipments of dollars the Central Bank of Iraq (CBI), until a new Baghdad government acceptable to Washington is formed, Saudi state-owned Al-Hadath reported Monday. The US is also conditioning continued security cooperation on the disclosure of those involved in the bombing of its embassy, the news channel added.  President Trump previously with the current Prime Minister of Iraq Mohammed Shia' al-Sudani Nevertheless, on Monday, the CBI released a statement rejecting the Al-Hadath report....

The Private Credit Crisis Is Spreading Submitted by QTR's Fringe Finance The private credit crisis is spreading to another corner of the market that I warned about back in October, when I wrote about 10 parts of the market I’d avoid. For years I’ve been warning that buy now pay later (“BNPL”) industry was built on a pretty fragile foundation. The quality of the loans was always the obvious problem. The entire business model revolves around extending instant credit with minimal underwriting to consumers making small purchases. Companies whose primary innovation is allowing consumers to...