One of the dirty little secrets of the stock market rally is that the rising corporate profits that powered it are largely phantom profits. They are artifacts of currency devaluation, not an increase in efficiency or production of goods and… — Charles Hugh Smith Copy Share Image
Would we as a nation be better off dealing with the truth rather than believing fantasies that prop up the Status Quo and the Fed's dearly beloved measure of the economy, the stock market? How often does accepting illusion help… — Charles Hugh Smith Copy Share Image
So now that the illusion of infinite growth is being exposed, the corresponding ballooning entitlements that enticed the larger public to become complicit in… — Charles Hugh Smith Copy Share Image
The notion that better engineering can solve all our problems is rooted in an ignorance of non-linear systems and selective/wishful thinking. — Charles Hugh Smith Copy Share Image
One of the dirty little secrets of the stock market rally is that the rising corporate profits that powered it are largely phantom profits.… — Charles Hugh Smith Copy Share Image
The problems of the global economy are not based in perception, but in the reality of prices, balance sheets and income statements, vast concentrations… — Charles Hugh Smith Copy Share Image
Once a citizen receives a direct payment from the state, the state has purchased their complicity — Charles Hugh Smith Copy Share Image
Humans are wired to feel uncomfortable with uncertainty and contingency, and so we gravitate to a position after a short time even if we… — Charles Hugh Smith Copy Share Image
Would we as a nation be better off dealing with the truth rather than believing fantasies that prop up the Status Quo and the… — Charles Hugh Smith Copy Share Image
The human mind has a superglue-like quality: Once a viewpoint has been plucked from the swirling chaos of beliefs and explanations, then the mind… — Charles Hugh Smith Copy Share Image
“In this networked world, specialization is no longer a competitive advantage; the competitive advantage goes to those whose work cannot be commoditized or traded.” — Charles Hugh Smith Copy Share Image
“Lazlo Bock, senior vice president of people operations at Google, made the following comments in an interview published by the New York Times in… — Charles Hugh Smith Copy Share Image
“It is a central thesis of this book that centralization has reached diminishing returns and is no longer yielding any benefit. Instead, it has… — Charles Hugh Smith Copy Share Image
