investment

California’s Economic Suicide and other News from Yesterday’s Ballot Measures

"Yesterday, the looters and moochers of the Golden State voted for Prop 30, a measure to significantly boost both the state sales tax and also hike income tax rates on investors, entrepreneurs, and small business owners. I’m generally reluctant to make predictions, but I feel safe in stating that this measure is going to accelerate California’s economic decline. Some successful taxpayers are going to tunnel under the proverbial Berlin Wall and escape to states with better (or less worse) fiscal policy. And that will mean fewer jobs and lower wages than otherwise would be the case." Continue reading →

Continue ReadingCalifornia’s Economic Suicide and other News from Yesterday’s Ballot Measures

Jim Rogers: Get Ready for Cheap Money ‘Run Amok’

"'If Obama wins, it’s going to be more inflation, more money printing, more debt, more spending.' Rogers told CNBC, saying he expected to sell U.S. government debt and buy precious metals, such as gold. 'It’s not going to be good for you me or anybody else. It looks to me like the money printing is going to run amok now, and spending is going to run amok now,' Rogers stated. 'I have to invest based on what’s happening and not what I would like.' Rogers said that he didn’t vote for either Romney or Obama, saying that 'they’re both evil as far as I’m concerned.'" Continue reading →

Continue ReadingJim Rogers: Get Ready for Cheap Money ‘Run Amok’

Treasury Quietly Warns: ‘Expect Debt Limit to Be Reached Near End of 2012′

"The U.S. Treasury quietly warned at the end of a statement issued last Wednesday that it expects the federal government to hit its legal debt limit before the end of this year--which means before the new Congress is seated--and that "extraordinary measures" will be needed before then to keep the government fully funded into the early part of 2013. On Aug. 2, 2011, President Obama signed a deal he had negotiated with congressional leaders to increase the debt limit of the federal government by $2.4 trillion. But, now, after only 15 months, almost all of that additional borrowing authority has been exhausted." Continue reading →

Continue ReadingTreasury Quietly Warns: ‘Expect Debt Limit to Be Reached Near End of 2012′

Illinois Teacher Retirement System Is Broke

"There are only two numbers that matter: the amount of money the pension fund will pay out for earned benefits, and the amount of money it has on hand. Between now and 2045, TRS will pay $376.5 billion to retired teachers. It has just $36.3 billion on hand. In order for these assets to cover future payouts, TRS would need to see average investment returns of more than 18.5 percent per year. The simple fact is that TRS is broke. Under new accounting rules, TRS has less than 23 percent of the money it should have in the bank today in order to make its pension payments." Continue reading →

Continue ReadingIllinois Teacher Retirement System Is Broke

Bill Bonner: An Empire of Debt Leading to a “Crack-up” in the Global Monetary System

"As we head into the last few days of the presidential race, we ask Bill Bonner, bestselling author and founder of Agora financial what he thinks the biggest issues on the electoral agenda should be. Considering the problems facing the country took decades to form, can they be easily resolved by the casting of a vote? And what about the debt and the deficit? Both presidential candidates express some concern about the debt, but are either really going to act on those concerns in meaningful ways?" Continue reading →

Continue ReadingBill Bonner: An Empire of Debt Leading to a “Crack-up” in the Global Monetary System

Jim Rogers goes Short US Treasuries, talks JP Morgan Silver and a Boom in North Korea!

"We talk to Jim Rogers, author of the book 'A Gift To My Children,' about what he thinks of the latest economic growth numbers, and his outlook for a recession after the 2012 elections. We ask our guest Jim Rogers, author and investor, about how Japan's experience fits in with forecasts of Western central bank induced inflation. We also ask him about his 2008 prediction for a 'hyper-inflationary Holocaust' and the long term implications for investors and savers. Has he been surprised by the lack of severe inflation, and the performance of the US bond market?" Continue reading →

Continue ReadingJim Rogers goes Short US Treasuries, talks JP Morgan Silver and a Boom in North Korea!

Switzerland Will Continue to Thrive and Outperform

"Currency markets have a history of rewarding countries that are free. Why is that? Freer countries have the tendency to avoid over-taxation, over-regulation and support policies that promote freedom and innovation. Freer floating currency regimes allow market forces to play a role in determining value. Market forces and (truly) democratic systems, and particularly the Swiss system of direct democracy, create feedback mechanisms to help keep the excesses of government in check." Continue reading →

Continue ReadingSwitzerland Will Continue to Thrive and Outperform

Firings Highest Since 2010 as Ford to Dow Face Slump

"Ford Motor Co. (F) and Dow Chemical Co. (DOW) joined a growing number of companies firing thousands of workers as sluggish U.S. growth and Europe’s deepening recession lead to a persisting slump in sales. North American companies have announced plans to eliminate more than 62,600 positions at home and abroad since Sept. 1, the biggest two-month drop since the start of 2010, according to data compiled by Bloomberg. The reductions coincide with a majority of U.S. companies missing analysts’ third-quarter revenue estimates and a focus on jobs in the final weeks of the U.S. presidential campaign." Continue reading →

Continue ReadingFirings Highest Since 2010 as Ford to Dow Face Slump

A Chance to Live Like a Soros

"Andrea Soros Colombel and her husband, Eric Colombel, have put their Greenwich Village townhouse at 10 W. 10th St. on the market for $29.5 million. The fully renovated, seven-bedroom home is a four-story Greek revival-style townhouse that dates back to 1844. It comes with an elevator, three wood-burning fireplaces and a state-of-the-art sound system." Continue reading →

Continue ReadingA Chance to Live Like a Soros