Finance

A lack of discipline, inability to delay gratification, failure to understand basic mathematical concepts, materialistic envy, absence of critical thinking skills, and a delusionary view of the world have left the majority of Americans broke and in debt. Let me explain further.

Canada has surprisingly often been the place where the future happens first - and it’s happening again. Last Monday, Canadian voters swept the ruling Conservatives out of power, delivering a stunning victory to the center-left Liberals led by Justin Trudeau in a clear rejection of the deficit-obsessed austerity orthodoxy that has dominated political discourse across the Western world. The Liberals ran on a frankly, openly Keynesian vision, and won big.

The Chinese yuan continues to gain stature on the world financial stage, overtaking the Japanese yen to become the 4th most-used currency for global payments, boosting its claim for reserve status.

If you are in the habit of bargain hunting or trying to get free stuff, think again - especially if you are fortunate enough to be in a secure well-paid job. Look for quality, not price, and expect to pay for quality goods and services. In addition, be generous because it is generosity, not miserliness, that creates prosperity. Let me explain.

Even the slightest movement made by China can create a ripple effect on fragile global markets. On August 11 China devalued its currency by 1.9% and has made some smaller changes since then. Today’s infographic looks at the reaction in currency markets in three time frames after the event: 24 hours, one week, and one month after.

You now have the opportunity to get ahead of the game and establish barter relationships in your own community now, before it becomes imperative due to a banking or currency crisis. This article outlines all of the information you need to get started conducting business using physical gold and silver.

To believe that the chances of financial calamity are non-existent is a fool’s fantasy that’s just begging for people’s life savings to get wiped out.

Every time someone tells me they are buying gold because of inflation fears, I cringe. First, I don't see a risk to higher inflation and, second, even if we have high inflation, don't count on gold as a hedge. Here's why:

The Economist infographic below shows how much people in households around the world allocate to different expenses such as food, housing, recreation, transportation, and education.

1. Is gold a safe-haven or a hedge, and what is the difference between them? 2. What is gold supposed to be a safe-haven or a hedge in relation to? 3. Does gold protect investors from a stock market crash, bond market volatility, inflation, or a systemic crisis? 4. Do the safe-haven properties of gold depend on the country and the time horizon?