'Tis Only My Opinion - August 2016 - "Leaning to the Upside?" is now available.

Current Outlook

"August 2016"

Headlines this week show that once again, the world faces major problems. Two headlines in particular that are most disturbing are: "Deutsche Bank Profit Plunges 98% And The Worst Is Yet To Come," and "Ford Plunges After Warning, We Don’t See Growth, Warns US Auto Industry Has Plateaued."

War drums are beating louder with warnings continually coming for Russia and China against the United States. The Russians and Chinese have announced a joint naval exercise in the disputed waters of the South China Sea. War tensions are rising and not receding.

The world economy remains in recession and is dragging the U.S. lower despite the safe-haven aspects of the U.S. Demand is simply higher than supply but commodities may have bottomed.

The Middle East remains a powder-keg. Turkey is headed to becoming the next Islamic state.

Negative interest rates do not seem to create growth based upon Japan's and Europe's experiences to date ...  the law of unintended consequences continues to befuddle Keynesian economists.

Keynesian economists control the world’s central banks and are responsible for creating booms and busts since the 1920s. Each cycle has accentuated the wave of economic and financial conditions that eventually will shake the world’s economic order to its foundations after a Minsky moment.

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Fred Richards' has published his 'Tis Only My Opinion articles for many years on a wide range of subjects and most are archived here. The current article is highlighted to the left.

Mr. Richards is a graduate of SMU and HBS, and a member of Who's Who in the World since 1965.

Last updated - January 6, 2016
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