Economics

Peter Schiff: The Biggest Loser

"For the past few generations Switzerland has enjoyed some of the strongest economic fundamentals in the world. The country boasts a high savings rate, low taxes, strong exports, low debt-to-GDP, balanced government budgets, and prior to a few years ago one of the most responsible monetary policies in the world. These attributes made the Swiss franc one of the world's 'safe haven' currencies. Despite the fact that Switzerland was an island of economic health amidst a sea of problems, the reigning economic orthodoxy convinced Swiss leaders that their strong currency was a burden rather than a blessing." Continue reading →

Continue ReadingPeter Schiff: The Biggest Loser

Central Bankers’ Nightmare: Goldman Sachs Might Go Bust

"The central bankers of the world literally cannot conceive of what they would do if Goldman Sachs ever did go belly-up. This would threaten the entire world economy. This is why governments and central banks are not about to allow Goldman Sachs to go belly-up, which is why Goldman Sachs indulges in high-risk, high-return speculation: managers know that the firm will be bailed out. This is called moral hazard, and it is basic to the modern economy." Continue reading →

Continue ReadingCentral Bankers’ Nightmare: Goldman Sachs Might Go Bust

Bernanke Is Blind As A Bat

"Following the stock market crash of 1929, there was a short period of calm before the government and Fed would deliver a Great Depression. During that short period of calm, the establishment and authorities did their best to assure everyone that things were ok. I don't doubt that they even believed what they were saying. Here are some examples of what was said during the calm period." Continue reading →

Continue ReadingBernanke Is Blind As A Bat

Fed Officials Recognized Upcoming 2007 Crisis But Weren’t Worried

"Federal Reserve officials in August 2007 saw the beginnings of the crisis in subprime mortgages and concluded that the U.S. economy would be able to withstand it, even as some Fed members warned that it could trigger a downturn, transcripts from their 2007 meetings show. The transcripts show the committee's slow grasp of the enormity of contagion that was to spread throughout global markets as a result of billions of dollars in low-quality housing assets that had been securitized into bonds and sold to banks and investors worldwide. The FOMC focused on the economy's performance and showed reluctance to alter policy until August." Continue reading →

Continue ReadingFed Officials Recognized Upcoming 2007 Crisis But Weren’t Worried

“Currency Wars” heating up again! What it means for you

"Coordinated, easy monetary policy among the world’s central banks has been a key driver of asset values. That much is undeniable. I have highlighted multiple markets — from junk bonds to farmland to emerging market bonds — where bubblicious activity is rearing its ugly head again as a result, just as it did in previous periods of overly aggressive policy easing. We know this doesn’t end well. The only question is timing." Continue reading →

Continue Reading“Currency Wars” heating up again! What it means for you

The Doomsday Preppers of New York

"New York hardly seems like a natural location for what has become known as the prepper movement, but in fact the city’s prepping community is not only large and remarkably diverse, its leaders say, it’s also growing rapidly. To the unprepared, the very word 'prepper' is likely to summon images of armed zealots hunkered down in bunkers awaiting the End of Days, but the reality, at least here in New York, is less dramatic. Local Preppers are doctors, doormen, charter school executives, subway conductors, advertising writers and happily married couples from the Bronx. They are no doubt people that you know — your acquaintances and neighbors." Continue reading →

Continue ReadingThe Doomsday Preppers of New York

IRS: Cheapest Obamacare Plan Will Cost $20,000 per Family by 2016

"The Internal Revenue Service issued a report Wednesday in which it estimated that under Obamacare, the least expensive health insurance plan available to a family in 2016 would cost $20,000 annually according to CNSNews.com. Under the Patient Protection and Affordable Care Act all U.S. citizens are required to have health insurance, either through their employer or by purchasing it directly from the government. Individuals who don't have it by 2016 face a penalty amounting to either 2.5 percent of a person's taxable income or approximately $2,000 per family, depending on their income." Continue reading →

Continue ReadingIRS: Cheapest Obamacare Plan Will Cost $20,000 per Family by 2016

Hey Australia, How’s That Gun Ban Working?

"Young men are arming themselves with illegal guns to fight petty disputes in a trend that is alarming police and has placed Sydney in the midst of another spike in public shootings. The acting Police Commissioner, Nick Kaldas, has pleaded with young men to ''think about your family and loved ones and what this means'' after a spate of fatal and drive-by shootings already this year. Three men have been shot in Sydney since Sunday afternoon, including a 24-year-old father, Joshua George, who died from a single wound to the chest after a disagreement at a party the night before." Continue reading →

Continue ReadingHey Australia, How’s That Gun Ban Working?

Strict Gun Laws in Chicago Can’t Stem Fatal Shots

"Not a single gun shop can be found in this city because they are outlawed. Despite a continuing legal fight, Illinois remains the only state in the nation with no provision to let private citizens carry guns in public. And yet Chicago, a city with no civilian gun ranges and bans on both assault weapons and high-capacity magazines, finds itself laboring to stem a flood of gun violence that contributed to more than 500 homicides last year and at least 40 killings already in 2013. Some 7,640 people currently hold a firearms permit, but nearly that many illicit weapons were confiscated from the city’s streets during last year alone." Continue reading →

Continue ReadingStrict Gun Laws in Chicago Can’t Stem Fatal Shots

Two-thirds of French people agree with labour minister’s statement that country is ‘totally bankrupt’

"Michel Sapin made the gaffe in a radio interview, which left French President Francois Hollande and other ministers racing to undo the potential damage to the country's reputation as a solid economy for investors. It came as several high profile individuals, including the actor Gérard Depardieu, have left the country to avoid punitive taxes. Last week it transpired that Bernard Arnault, France's richest man, had transferred his entire fortune to Belgium, where he hopes to gain citizenship. France last balanced its budget in 1973. State spending accounts for almost 57 per cent of gross domestic product while public debt has now reached 91 per cent of GDP." Continue reading →

Continue ReadingTwo-thirds of French people agree with labour minister’s statement that country is ‘totally bankrupt’