Peter Schiff: Bitcoin Is A Bubble
Peter Schiff says Bitcoin's meteoric rise reminds him of Tulip mania.
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QE and the 0.2% Early support of the Fed´s QE programs, Andrew Huszar, has just come around and recognized what some of us have known for a long time. Quantitative easing has done nothing to help Main Street and has become "the greatest backdoor Wall Street bailout of all time.”
The Fed´s bond buying program was supposed to increase the availability of credit to ailing businesses and consumers, but as of last year mortgage lending was at a 15-year l... (more)
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Obamacare architect: Canceled policies about soaking healthy ‘genetic lottery winners’MIT economics professor Jonathan Gruber explained Wednesday that the current health-care system is unfair, discriminatory and rewards “lottery winners” who do not have to pay more for health insurance because they are healthy.
“Let’s start with understanding that we are not talking about the vast majority of Americans,” Gruber explained on Chuck Todd’s “The Daily Rundown” on MSNBC. “This law is really leaving those with employer insurance, those with government insurance alone. We... (more)
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Has the Fed Met Its Match?Now, this is sheer entertainment. The Chicago branch of the Federal Reserve has addressed the great monetary question of our day. A researcher has taken a detailed look at the prospects for market-based crypto-currency, with a special focus on Bitcoin. It concludes that Bitcoin is not a viable replacement for the dollar. The report includes some dark hints that shou... (more)
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Can You Hear Me Now? We Have Too Much Health InsuranceHearing aids have been expensive--until now.
An interesting story in the New York Times a little over a year ago related the journey of a woman who had broken the shell of one of her hearing aids. Shocked at the price of hearing aids from private audiologists--at least $2,000 for a set, and usually $3,000--she sought another solution. Learning that about 70 percent of this price i... (more)
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Marc Faber Is Back: "It Will End Badly... We're In A Worse Position Than 2008""It will end badly," Marc Faber explains in this brief CNBC clip, "the question is whether we will have a minor economic crisis and then huge money printing or get into an inflationary spiral first." If you thought that "we had a credit crisis in 2008 because we had too much credit in the economy," then Faber notes "there is that much more credit as a percent of the economy now." Of course, as Bill Fleckenstein recently noted, as long as stocks are rising, investors remain b... (more)
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Obamacare, Deconstructed
Think the Affordable Care Act is good for America? Think again.
Nov. 6th, this just in from CBS: ... (more) Great video excluding the "call your congressman" ending. |
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Voting With Their FeetA recent commentary by Michael Barone points out the unsurprising truth that American's tend to move to places where they are taxed less heavily and where the costs of living are cheaper. I say unsurprising, but this obvious little bit of behavioral economics c... (more)
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Inflation: The Health of the StateThe average Joe and Jane have not been sitting around thinking "You know what we need is more inflation." The millions out of work and being fed by Uncle Sam have enough sense to know higher prices don't help them.
Meanwhile, the PhD economists at the Fed don't think cheap food and goods are good ideas. They figure increasing prices will help company profits and encourage individuals and businesses to borrow and spend money. "Weighed against the political, social and economic ri... (more)
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The World's Fastest FailureObamacare certainly has made history. It has set the record for the fastest-failing Big Government program in world history. This isn’t only about a website flop; it is about the failure of government to accomplish the aims of Obamacare in general, and in a way that has profoundly touched millions of individual lives.
“Train wreck” is a good term here. You know it is coming. You can see the maps. You can predict the timing and the damage. But there is still something stunning abou... (more)
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What the Fed Can Learn From the McDonald's Dollar MenuWe live in parallel universes. Federal Reserve Chairman Ben Bernanke is said to have a healthy concern about deflation. McDonald's franchisees, on the other hand, not so much.
The chain of Golden Arches fame will give up its Dollar Menu after 11 years, renaming it "The Dollar Menu & More" next month. It turns out you simply can't make a buck selling burgers for a buck. It must be hard to give up on such an amazing marketing gimmick, generating one-seventh of all sales since its in... (more)
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Man buys $27 of bitcoin, forgets about them, finds they're now worth $886kMeanwhile, people who find old trunks in their grandparents homes filled with tons of cash find it's worth nothing. |
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