Most investors didn’t take warnings about the future of the economy and the financial marketplace - warnings that a ‘Category 6 Fiscal Storm’, a ‘Debt-Driven Meltdown’, a ‘Systemic Banking Crisis’, a ‘Financial Train Wreck’, a ‘God-Awful Fiscal Storm’, etc. was in store for the U.S. - seriously until it began. Perhaps this time around, before the other shoe drops, we should become more informed so we will be better positioned to survive and prosper regardless of what comes next. Words: 2128
Read More »Claptrap! Balderdash! Flimflam! This ‘Recovery’ is a Scam
Officially, the crisis is over. Everyone says so. Central bankers and Treasury officials have been congratulating themselves. It’s been a year now since the end of the world didn’t happen. These fellows take credit for it. Claptrap! Balderdash! Flimflam! Words: 669
Read More »U.S. Real Estate? Fuhgeddaboudit for Another 5 Years! (+2K Views)
Real estate has definitely not bottomed in the U.S., and probably not anywhere else either. You have to take a long-term view of this. At this point in time I am completely uninterested in speculating in U.S. real estate – and I don’t foresee being interested for at least five years. I reserve the right to change my mind, but I think it’ll be at least five years. Words: 1340
Read More »Coxe: Gold is an Excellent Place to Hide (2K Views)
Gold has been the best-performing major commodity since the financial crisis began and we see no big reason why that outperformance should be over. After its breathless run to $1220, it’s entitled to correct back toward $1,000—or even a bit below that chiliastic level—without ending its bull market. Words: 707
Read More »Antal Fekete: The Fed Inadvertently Steering Economy on Road to Hell (+2K Views)
I would welcome a public debate of my thesis that risk-free bond speculation suppresses the rate of interest and destroys capital in the process. I have challenged neo-classical economists who still consider the open-market operations of the Fed as a ‘refined tool to manage the national economy’. I want them, instead, to see in open-market operations the cancer of the economy responsible for the withering of the world’s prosperity. So far my challenge has fallen upon deaf ears. Words: 2854
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