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It looks like they’ll have plenty to talk about this week beyond the
official topic of Inflation
Dynamics and Monetary Policy at the Federal Reserve’s annual gathering of
the brain trust in Jackson Hole, WY, what with the sky being full of smoke
from physical fires burning to the West and financial markets around the
world figuratively going up in smoke.
What’s interesting about recent developments (if not surprising) is that
China’s disappointing economy is being blamed for the market turmoil, prime
evidence being the graphic below in this Wall Street Journal story
today:
 
What gets short shrift from most media outlets (this Forbes piece
by Steve Keen being the exception to the rule) is that we may be looking
square in the face of yet another ugly unwind of yet another reckless
expansion of credit and debt.
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Tim Iacono is the founder of Iacono Research, a subscription service providing market commentary and investment advisory services specializing in commodity based investing.
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