"Reports of the death of the gold bull market have been greatly exaggerated. In the global currency war the biggest loser wins. However, the real winner will be gold. The race to debase means no fiat currency is safe. Savers are assured of being collateral damage unless they protect their purchasing power with a monetary asset central banks cannot print." Continue reading →
"Should the U.S. government default? Wrong question. The right question: Can the U.S. government avoid defaulting? The answer is clear: no. It will default. It is $222 trillion in the hole. That’s the present value of its future obligations. Of course it’s going to default. Would that be bad? Not for taxpayers. Would it be bad for the Powers That Be who run this country? Yes. Devastating. It’s coming. The mainstream media have ignored this statistically inevitable problem. The problem threatens the Establishment as no other. So, the media pretend it does not exist. But the blackout may at long last be cracking. We read this on PBS." Continue reading →
"What does it all mean? Essentially that, just as in the 1930s during the Great Depression, everybody is in open protectionist confrontation against everybody else. Back then the 'beggar-thy-neighbor' policies started with the Smoot-Hawley Tariff Act of 1930. This time responsibility for triggering the devaluation race in the developed world is more widespread but the objective is similar to that of tariff policy in the 1930s." Continue reading →
"An incredulous -- and insulting -- letter from an American capitalist to a Socialist government minister in France has revealed a monumental clash of cultures. Tire magnate Maurice 'Morry' Taylor Jr., head of Titan International, did not hold back when he decided to tell Arnaud Montebourg, France's minister for industrial renewal, where he could stick his suggestion that the U.S. businessman take over an ailing French factory." Continue reading →
"Cisco has $46 billion in cash, but CEO John Chambers says he is no longer willing to use it to acquire U.S. companies. That's because 80 percent of that cash is stored in overseas accounts and if Cisco spends it in the U.S., the company will have to fork over 35 percent in taxes. For years, he has been trying to get the U.S. to change that tax rule. He's said before that this prevents him from hiring more U.S. workers. But now he's said he's also stopped shopping for acquisition targets in the U.S., too. Microsoft keeps about 87 percent of its $66.6 billion stored outside the U.S.; Oracle, 80 percent of its $31.6 billion; and Apple about 68 percent of its $121.3 billion." Continue reading →
"A package of gun control measures that won initial approval in Colorado's Democratic-controlled House Friday night could result in several hundred jobs lost at the state's largest manufacturer of high-capacity ammunition magazines. Erie-based Magpul Industries, which employs some 200 people directly and supports about 400 jobs through subcontractors, has threatened to leave the state if lawmakers are successful in passing the sweeping gun-control package, which limits the number of rounds a magazine can hold, according to The Denver Post." Continue reading →
"Manny Pacquiao's chief adviser insisted Monday that the Filipino superstar's preference is for his next bout – a fifth fight against Juan Manuel Marquez – to take place away from Las Vegas, with the off-shore Chinese gambling resort of Macau emerging as the 'favorite.' Michael Koncz told Yahoo! Sports that the 39.6 percent tax rate Pacquiao would face if he were to fight again in the U.S. makes a fall bout in Las Vegas 'a no go.' Promoter Bob Arum Arum said Pacquiao would not have to pay taxes if the fight takes place in casinos in either Singapore or Macau." Continue reading →
"To anyone who hasn’t seen it demonstrated, 3-D printing sounds futuristic—like the meals that materialized in the Jetsons’ oven at the touch of a keypad. But the technology is quite straightforward: It is a small evolutionary step from spraying toner on paper to putting down layers of something more substantial (such as plastic resin) until the layers add up to an object. And yet, by enabling a machine to produce objects of any shape, on the spot and as needed, 3-D printing really is ushering in a new era." Continue reading →
"I wanted to write to convey some aspects of the influence of the government control of the medical field here in the U.S., from the perspective of a practicing Emergency Medicine specialist, and its impact upon my life." Continue reading →
"'Our preferred policy solution is to abolish patents entirely,' Michele Boldrin and David K. Levine wrote in a recently published paper. That statement, of course, flies in the face of the conventional wisdom that patents foster innovation and improve productivity. Both truisms, they say, are wrong. In fact, patents have a 'negative effect on innovation,' they say. Obviously, this is awfully radical, but it's worth noting that 18 months after the largest patent reform legislation in decades -- the America Invents Act -- was signed by President Barack Obama, patent litigation has continued to increase." Continue reading →