Under a gold standard, the amount of credit that an economy can support is determined by the economy’s tangible assets, since every credit instrument is ultimately a claim on some tangible asset. […] The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to […]
The U.S. stock market broke its losing streak yesterday. After five straight losing sessions, the Dow eked out a 92-point gain. The financial media didn’t know what to say about it. So, we ended up with the typical inanities, myths, and claptrap.
The Swiss voted against awarding all citizens a “universal basic income” of about $30,000 a year, regardless of whether they have work or not. But the idea is unlikely to go away. Two-thirds of British voters say they are in favor of the idea. And Canada’s Ontario province is set to try something similar. If you’ve been following these Diary entries, you know how and why we have a welfare state.
BALTIMORE – Is there really a “War on Cash”? No. There’s a war on you. We’ll come back to that in a minute… First, a quick roundup of last week’s action. Rig Plunge Friday brought more bad news for U.S. shale oil producers. (More on this below in today’s Market Insight.) Reports Bloomberg: The number […]
But of that day and that hour knoweth no man, no, not the angels which are in heaven, neither the Son, but the Father. – Mark 13:32 BALTIMORE – Again, not much movement in the U.S. stock market. All eyes were on U.S. politics. The Ides of March came… and yea, went… with poor Marco […]
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 […]
Is the market telling us that Janet Yellen was right after all? Maybe the economy really is stronger than we think. At the start of the year, it looked as though the stock market was signaling trouble ahead.
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 […]