Author: Charles Hugh Smith

What Happens as State and Local Tax Revenues Crater?

What Happens as State and Local Tax Revenues Crater? by Charles Hugh Smith for Of Two Minds We can anticipate a federal bailout of pension funds and one-time aid to state and local governments, but bailouts won’t repair the eroding...

The New (Forced) Frugality

The New (Forced) Frugality by Charles Hugh Smith for Of Two Minds There are only two ways to survive a decline in income and net worth: slash expenses or default on debt. In post-World War II America, the cultural zeitgeist...

Helicopter Money: Short-Term Relief Won’t Cure our Financial Disease

Helicopter Money: Short-Term Relief Won’t Cure our Financial Disease by Charles Hugh Smith for Of Two Minds The collateral supporting the global mountain of debt is crumbling as speculative bubbles deflate. A great many freebies are being tossed in the...