INTERNATIONAL. Marc Faber the Swiss fund manager and Gloom Boom & Doom editor suggested that in a very negative environment where everything collapses, the US would outperform many emerging markets as it is still a relatively self contained economy that produces enough food and has the resources to produce enough energy, if it wants to. [..... (more)
Jimmy John Liautaud, founder of the Jimmy John's sub chain, just applied to move his residence from Illinois to Florida — and his company's headquarters could soon follow. "All they do is stick it to us," he says of the state legislature's move to jack up the personal income tax from 3 percent to 5 percent — and the corporate income tax from 7.3 percent to 9.5 percent.
"I could absorb this and adapt," Liautaud tells his hometown paper, the Champaign-Urbana News-Gazette, "but it do... (more)
My brother and I are planning to move to Florida for tax reasons as well. - Chris
As the story goes, someone asked an economist how his wife was doing, and the economist answered "compared to what?"
Joking aside, this is one of the most important questions one can ask when dealing with many economic problems.
In recent times, with gold reaching all-time highs, we have seen people question the valuation of assets in dollars. Basically, the yardstick used to measure your assets — your house, car, or stock portfolio — is a steadily shrinking one. Th... (more)
The must watch 5 minutes from today's second day of Bernanke hearings before congress is the following interaction between the Chairman and his archnemesis: Ron Paul. The first brilliant rebuttal by Ron Paul has to do with the ongoing "Federal Reserve lecturing" on why Congress should not allow out of control deficits to escalate. As Paul s... (more)
CNBC didn’t run any commercials during Bernanke’s testimony this morning, until Ron Paul began to speak. They came back live after his questioning, choosing to resume with Maxine Waters. State-controlled media indeed.
Marc Faber is out with his latest issue of the Gloom, Boom and Doom Report, which is always a must read for serious investors. This month’s report covers his outlook for the stock market, gold, oil, and the future for the US and global economy. Here are some of the highlights:
1. Stock Market–Still bearish in the short-term. Faber cautions against being bearish longer-term as long as the world is printing money, which will continue to inflate nominal stock pr... (more)
Prof. Steve Horwitz addresses the common belief that the world is running out of natural resources. Instead, there are economic reasons why we will never run out of many resources. In a free market system, prices signal scarcity. So as a resource becomes more scarce, it becomes more expensive, which incentivizes people to use less of it and... (more)
Ever heard of AFMA shipping? It seems to be a company on the go, one anxious to complete with Fed-Ex and UPS. That’s all to the good. But apparently the company has run into some trouble. Customers are sticking with the competition, and the AFMA figures that there is no good reason for doing so. Therefore, apparently, the company has decided that it is a victim of unfair competition and filed a complaint with the Justice Department, and so the Justice Depar... (more)
Alex talks with investment analyst and entrepreneur Marc Faber. He writes the monthly investment newsletter The Gloom Boom & Doom Report and is the author several books, including Tomorrow's Gold: Asia's Age of Discovery and Riding the Millennial Storm: Marc Faber's Path to Profit in the Financial Markets. Faber has been a regular contribut... (more)
You may recall late last year that the state of Texas sent Amazon a tax bill for $269 million. The issue, as always, is the question of whether or not Amazon has to collect sales tax. Technically, e-commerce companies have always said they don't have to collect sales tax in states where they have no physical presence. Of course, Amazon act... (more)
Apparently, the solution to this problem is not to give the money back to the people it was stolen from, but to instead give the loot to the government to spend on more state brainwashing. - Chris
NEW YORK (CNNMoney) -- The International Monetary Fund issued a report Thursday on a possible replacement for the dollar as the world's reserve currency.
The IMF said Special Drawing Rights, or SDRs, could help stabilize the global financial system.
SDRs represent potential claims on the currencies of IMF members. They were created by the IMF in 1969 and can be converted into whatever currency a borrower requires at exchange rates based on a weighted basket of inter... (more)
By a 55% to 16% margin, Mainstream voters believe it was government policies that caused the Depression. The Political Class, by a 49% to 15% margin, disagrees and says the government was not to blame.
Most Republicans (56%) and a plurality of unaffiliated voters (41%) believe t... (more)
Federal Reserve Governor Kevin Warsh, who was one of Chairman Ben S. Bernanke’s closest financial-crisis advisers before becoming the only governor to question the expansion of record monetary stimulus in November, resigned after five years at the central bank.
Warsh, 40, a former investment banker who was the youngest- ever Fed governor when then-President George W. Bush appointed him in 2006, will leave “on or around March 31,” he said in a letter today to President Barack Obama... (more)
Perhaps the most stunning example of what may be in store for asset managers and pension funds (and possibly retail holders) who dare to challenge central bank monetary authority comes from the Netherlands, where we have just witnessed the 21st century equivalent of Executive Order 6102. The story in a nutshell (and as translated loosely from the primary source presented below): the glassworkers pension fund (SPVG) was ordered by De Nederlandsche Bank (DNB, or the equivalent of the Dutch central... (more)
A recent article at The Daily shows a video of an Amish farmer trafficking contraband from his farm in Pennsylvania to a busy street in Manhattan. The article goes on the explain that,
“he wasn't selling them anything they planned to smoke, snort or inject. Rather, he was giving them their once-a-month fix of raw milk -- an unpasteurized product banned outright in 12 states and denounced by the FDA
You heard it Americans and people around the world, Ben Bernanke should be praised as our Lord. We are the slaves to the international banking cartel and Ben Bernanke is their frontman. He did an excellent job, of fooling an already semi-retarded American population into thinking bailing out Wall Street was the right thing to do.
