Investment/Trends

Working Class Whites Are Giving Up Hope.

"Working class whites are giving up economic hope, according to a recent poll. They did not vote for Obama. The article did talk about single-mother households. They are in poverty, of course. What did the social planners expect? If the government subsidizes a particular behavior, we get more of it. That was the conservative argument a generation ago. It was dismissed as heartless by liberals. This is what 80 years of welfare state politics have produced. But of course, no one in the mainstream mentions this. Pessimism now reigns." Continue reading →

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After 237 Years, America is Finally “Free”

"A couple weeks ago, the SEC issued its ruling on Title II of the JOBS Act – the first of two provisions needed before crowdfunding can go mainstream. Simply put, the SEC eliminated the ban on 'general solicitation.' For decades, this mandate forced startups, hedge funds and venture capitalists (VCs) to rely on word of mouth and other forms of private communication to raise funds. Starting this September, though, companies will be free to tell everyone about their businesses and solicit funding for them. Companies will still be limited to taking money from accredited investors and these investors will have to take extra steps to verify their accredited status." Continue reading →

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Bitcoin Mining Unit Sells on eBay for US$10,866.88

"Less than two hours ago, the auction closed for this 60 GH/s Single SC from Butterfly Labs. These supercomputers normally sell for $2,499. Last year, they were selling for US$1,299. Butterfly Labs started taking pre-orders for these units on June 23rd, 2012, with an expected ship date in October, 2012. Production finally began in May, 2013. It took them until Friday, July 26th (65 days of production) to start shipping orders placed after June 23rd, and there were still two June 23rd orders to be shipped." Continue reading →

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In Bitcoin we trust: The Berlin district where virtual currency is as easy as cash

"Start-ups like Berlin-based 9flats.com, a 'share economy' platform, say that the Bitcoin concept is working in their favor. 'The main advantage for our business is that we do not lose money on transaction fees because with Bitcoin there are none,' said Alexander Lossenko, lead developer at 9flats.com. To avoid the risk of devaluation and strong fluctuation in Bitcoin prices, companies like 9flats.com often use services that convert bitcoins into euro or dollars instantly. 'It also opens new markets for us. In Russia, for example, PayPal does not exist, so Bitcoin offers another alternative for payments,' Lossenko added." Continue reading →

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Are We Investing or Are We Just Dodging Thieves?

"The skill we need today is not traditional investing skill; it is thief-dodging skill. It consists of knowing the thieves’ techniques and whom they are targeting, of knowing the bad neighborhoods to avoid, knowing how to avoid being a target, trying to stay one jump ahead of them as they target new victim groups. These are skills people had back in the Dark Ages, and as we enter a new Dark Ages, these are skills we need again. Millions of middle class Americans are being wiped out by thieves, and millions more will be wiped out as trends continue. But those who can successfully dodge the thieves can continue to maintain some civilized standards as they hope for better days." Continue reading →

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Gravy for U.S. Energy Producers

"In response to evident repudiation of a 'democratically elected' government (long story there…), the well-fed Egyptian military guys answered the call by removing the clerical fascists who were and are, by most metrics, utterly incompetent to govern. Here’s a look at just how this 'Middle East Effect' has played out. Each time the market heads lower toward the $85 threshold, a Middle East event spurs prices higher. I won’t get into conspiracy theory in this write-up, but OPEC has all the incentive in the world to keep the threat of volatility alive and well. After all, the $10-20 bump in prices since mid-April is nothing but money in the bank for OPEC producers." Continue reading →

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Will Saudi Arabia Allow the U.S. Oil Boom?

"It’s important to remember that the Saudis not only have the largest proved reserves of oil, it’s also the largest repository—by far—of low-cost oil reserves. Much of Canada’s oil sands and US tight oil requires $75 per barrel or more to be economically viable. Saudi Arabia also needs $75 per barrel, but that’s to support its current domestic budget. The Kingdom’s lifting costs are somewhere around $5 at last report. So Saudi Arabia could easily flood the market, as it did in the early ‘80s, if it lost too much market share, dropping oil prices to $50 or less, and US drilling and production would collapse." Continue reading →

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Guess Where There Is a Restaurant Boom?

"New residents flock to Midland in search of jobs in the area’s booming economy. In the past year, almost 20 new restaurants have opened or are planned to open in Midland and Odessa, with several national restaurant chains even venturing to call West Texas home. [..] About a year ago, talk began circulating in this West Texas town about a huge oil-producing formation called the Cline Shale, east of the traditional drilling areas around Midland. Then the oilmen and their rigs arrived. Now homes and hotels are sprouting, 'help wanted' signs have multiplied, and a major drilling company has cleared land to build an office and equipment yard." Continue reading →

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Pippa Malmgren on Success

"I've been very lucky; a lot of interesting things came my way. I used to be like the old Soviet Union with a rigid Five Year Plan. That worked very well but I also learned to make room for surprises outside the original plan; it's a matter of finding a balance between the two. If you love what you do, you'll be better at it than anybody and the money will follow." Continue reading →

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