Author Archives: dickpepperfield

Developed economies’ debt level by sector

A nice chart (click here)depicting the total debt, broken down by sector, for the developed nations, from creditwritedowns.com.

The UK stands out as having much more total debt than the US.

The household debt levels in Australia and Canada are high, relative to the US.  It’s been argued that both countries are facing significant housing corrections in the near future.

– DP

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40 Years of Fiat Currency — from Mises.org

For those of you feeling nostalgic, you can watch President Richard Nixon’s speech (here) in 1971 on the decision to “temporarily suspend the convertibility of the dollar into gold”.

some excerpts:  “We must protect the position of the American dollar as a pillar of monetary stability around the world”.

President Nixon notes that there had been 7 crises in the past 7 years and blames “international money speculators” because they thrive on the very events they create.

Even better, his explanation of devaluation to the audience is great.  As long as you buy American goods there’ll be no noticeable change……….Oh and we’re slapping a 10% import tariff to boot.

I guess we should blame money speculators for the charts below the video.

Enjoy,

Dick P.

Q3 Flow of Funds Report —

A trillion here, a trillion there.  What’s all the fuss about?

Check out these charts (here).  Mortgage debt is down however much of it is purported to be from defaults.   Equity as a percentage of household value held steady for decades but turned south in 2007.  Keep in mind that this includes all those homeowners without a mortgage.

Mr. Pepperfield.

John Hussman comparing Greece to Argentina

Interesting piece comparing Greece to Argentina.  Hussman also goes into the US financial institutions, and their clients, exposure to European banks via money market funds.  Link is here.

Enjoy,

Dick P.

Interview with Nestle’s CEO

The CEO discusses food, energy and water and the challenges we face.  Interesting read.  click on this link

Dick P.

A look at Debt, GDP, employment, inflation.

Great site to see the fiscal state of all the developed countries.  Click here and sort the Debt to GDP column. Note what company the US is in.

Dick P.

McKinsey Presents: 9 Scary Facts About The Unemployment Crisis Read more:

The United States will have to create 21 million jobs in the next 9 years to reach full employment, according to McKinsey & Co.

check out the slides at the bottom of this link:

Enjoy,
Dick Pepperfield