An ironic story about Inflation, the Federal Reserve insist in saying that there is no inflation, yet there is a story today that the treasury is thinking about no longer printing One Dollar Bill, and the reason is because it is too expensive, because its cost is rising, they think that it may save us some money if we just make coins, One D... (more)
audits for the wealthy surged in 2010. Among taxpayers who reported $10 million or more in income in 2010, more than 18% were audited. That is up 80% from 2009, when only 10% were audited, and in 2008, when 9% were audited.
The rates were higher for other high-income taxpayers, too. The report showed that among taxpayers who repor
It's not always easy to feel sorry for sunny Florida. But it just got hit with another blow.
On Thursday, the Census Bureau revealed that 18% -- or 1.6 million -- of the Sunshine State's homes are sitting vacant. That's a rise of more than 63% over the past 10 years.
... (more)
RALEIGH -- Cautioning that the federal dollars in your wallet could soon be little more than green paper backed by broken promises, state Rep. Glen Bradley wants North Carolina to issue its own legal tender backed by silver and gold.
The Republican from Youngsville has introduced a bill that would establish a legislative commission to study his plan for a state currency. He is also drafting a second bill that would require state government to accept gold and silver coins as payme... (more)
Austrian School economists have often explained the business cycle using the metaphor of liquor or drugs. The expansion of paper money and credit gives a sense of exuberance, an economic high that leads to excessive risk-taking and ballooning production. But it can’t be sustained. There is a morning after.
Then what? There is a choice: more drugs and liquor or sobriety. Sadly, the economy – meaning the choices made by you, me, and billions of others – is not permitte... (more)
As YouTube and other digital media move beyond computer-savvy young people into the ranks of even stodgy businessmen, these subversive outlets become serious problems for the ruling elite. This trend is epitomized by the radical change in the Federal Reserve's image. In just a few short years, the Fed has transformed in public opinion from a mysterious, wise, and boring institution into a fascinating engine of corruption and comedy.
Anyone who has bought gold for the entirety of this bull market is always looking for signs of a top. Not to sell — one doesn't get rid of their insurance — but just to wait until the insurance goes on sale.
A price steadily holding over $1,400 per ounce (until the Japanese quake) has put gold on the cover of a few magazines, along with constant hawking of the yellow metal on daytime Fox News.
But there seems to be more talk about owning gold than the actual ... (more)
Seems like these days I hear a lot of whiney whiners whining about "out of control government spending" and "insane deficits" and such, trying to make hay out of a bunch of pointy-head boring finance hooey. Sure, $3.7 trillion of spending sounds like a big number. "Oh, boo-hoo, how are we going to get $3.7 trillion dollars? We're broke, boo-hoo-hoo," whine the whiners. What these skinflint crybabies fail to realize is that $3.7 trillion is for an entire year - which translates into only a meas... (more)
This is a great discussion, his guests have some very perceptive observations about anti-free market propaganda in movies, for example the bad guy in the movie "Dirty Dancing" was shown holding a copy of Atlas Shrugged (before doing some nefarious deeds).
Mark Dice pulls up to a Taco Bell drive thru and hands the cashier an American Eagle 1 ounce gold coin, legal tender in the United States for fifty bucks, to pay for his 99¢ taco.
Marc Faber appeared earlier on CNBC in response to a plunging market, and gave his latest updated outlook on QE3... and 4, 5, 6, 7 and 8 (not to mention 18). "We may drop 10 to 15 percent. Then QE 2 will come, (then) QE 4, QE 5, QE 6, QE 7—whatever you want. The money printer will continue to print, that I'm sure. Actually I made a mistake. I meant to say QE 18." Faber was modestly constructive on the Japanese selloff, which at one point hit 18% down in overn... (more)
Rocketing gasoline prices are causing consumer unrest. Government officials blame oil speculators, corporate greed, and OPEC, anyone but themselves. However, the US government has spent decades implementing policies that drive up gasoline and oil prices. From the oil-price controls of the 1970s to the windfall-profits tax of the 1980s to George W. Bush's order to purchase oil for the Strategic Petroleum Reserve, the aim of government policy appears to be to hurt gasoline buyers.
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First the great Larry Summers pronounced that the earthquake and tsunami will bring positive economic benefits to Japan. Now this morning’s New York Times greets us with the headline, “Japan's Strict Building Codes Saved Lives”. Not property rights and the desire of property owners to protect the value of their property. Not institutions that awarded wealth creation over ti... (more)
We elect politicians because they lie to us. Any politician who told the truth would be tarred, feathered and driven out of town. We demand they lie to us. Likewise any bright young spark that wants to earn a nice income can enter the financial writing market and soon make his fortune.
It’s not necessary that he or she know anything about what they are writing about. If you want subscribers, all you have to do is learn to tell them just what they want to hear. People will pay big ... (more)
Bill Gross, the manager of the biggest bond fund in the world, has forgotten more about bonds than most of us will ever learn. That is why the big move that PIMCO has just made is so unsettling. At one time PIMCO held more U.S. government debt than any other bond fund on the globe, but now news has come out that they have gotten rid of all their U.S. government-related securities. So should we be alarmed? For months Gross has been warning that the bull market in bonds is coming to an end... (more)
Speaking to CNBC today, Faber said: " I think long term you should be exposed to energy in either scenario....if you are extra bearish and believe that War World III is going to start soon, as I believe, or in an optimistic scenario".
"So, if you take a very optimistic view of the world, namely a global economic recovery, dem... (more)
