Charles Hugh Smith's Substack

Charles Hugh Smith's Substack

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September 2025

Price Doesn't Reflect Value, and We're Paying a Steep Price for Confusing the Two
This exploitation is indeed profitable, but there is a very high price to be paid for abusing our trust.
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Charles Hugh Smith
10
Right-Sizing Ingenuity
What if we right-sized ingenuity by focusing on doing more with less?
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Charles Hugh Smith
12
Can Social Security Be Saved for Future Generations?
Are we wise enough to refuse politicians' offer of "free money" to spend today that was stolen from our future, and from our future generations…
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Charles Hugh Smith
2
Money, Credit, Growth and Depression: It's Complicated
If "growth" is all that matters, that leads to depending on credit and asset bubbles, which are self-liquidating in ways few see because, well, it's…
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Charles Hugh Smith
14
Not What We Expected: Why Our Fixes Will Fail
Our predilection for simplicity and certainty leads us to either-or choices. Sometimes certainty is the enemy we don't even see and uncertainty is our…
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Charles Hugh Smith
14
Is This the Last Bubble?
The consensus holds there will be another bubble after the Everything Bubble pops, but this might be misplaced confidence in the godlike powers of…
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Charles Hugh Smith
15
The Moral Decay of Debt
Debt has moral implications, and in denying this, we're choosing a rendezvous with Nemesis
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Charles Hugh Smith
6
What's Been Lost: Why This Time is Different
If we compare these previous periods of discord/crisis to the present, two things stand out.
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Charles Hugh Smith
24
Precarity and the Point of No Return
Or maybe it's just me, and all is well. Time will tell.
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Charles Hugh Smith
27
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