First they ignore you. Then they laugh at you. Then they attack you. Then you win. – Quote Donald Trump misattributed to Mahatma Gandhi And then they realize what a dumb jerk you really are. – Addendum offered by Bill Bonner SOUTH CAROLINA- We’re still down here in South Carolina, where the sandy soil and […]
Word on The Street is that Fed chair Janet Yellen will stick to her plan to begin normalizing interest rates later this month.
If you can’t imagine a world without cash… look around. Here are seven signs it’s already happening: 1. Surge in paying with plastic –
Card payments in the U.S. rise every year.
You may not think the IRS is out to get you, but consider this recent story from the Washington Post. Richard Severson – a 61-year-old farmer from Maryland – earned his living selling milk and eggs at farmers’ markets throughout Fredericks County. The business left him with lots of cash. And naturally, he decided to […]
September is here. As expected, market volatility is increasing. The Great Zombie War is intensifying. And investors are getting scared. Yesterday, the Dow lost 470 points – a nearly 3% drop.
The Janet Yellen Fed will not raise interest rates in any meaningful way anytime soon. Instead, she will announce new QE programs.
Google, Apple, and Facebook are building new mega-rich campuses to celebrate their success. But the average man in America saw his wages, in inflation-adjusted terms, peak in the 1970s.
“Greeks Line Up at Banks; ATMs Run Dry” was the headline over at the Drudge Report. Versions of it ran throughout the financial media. Greece is the canary in the coal mine for what could one day happen to your savings.
What we use as money today is mostly credit. It exists as zeros and ones in electronic bank accounts. We never see it. Touch it. Feel it. Count it out. Or lose it behind seat cushions. Banks profit – handsomely – by creating this credit. And as long as banks have sufficient capital, they are happy to create as much credit as we are willing to pay for.
Today, we have bad news and good news. The good news is that there will be no 25-year recession. Nor will there be a depression that will last the rest of our lifetimes. The bad news: It will be much worse than that. Recently, the Dow rose another 43 points. Gold seems to be working […]