Let’s Stiff the Government Together

I’m downright fanatical about lowering my tax bill. In my youth, I would quite literally skip meals so I could scrounge up the cash to max out my 401(k) plan with pre-tax dollars at work. And even when I didn’t skip meals… well… in retrospect I might have been better off if I had. I lived with an equally cheap roommate my first year out of college, and the two of us once subsisted for a week on a large tub of red beans and rice that he acquired from some guy he met from Louisiana. (It was actually pretty […]

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The Democrats Get Trump And The Republicans To Fold, And That Means There NEVER Will Be A Border Wall

Well, that didn’t take long.  Yesterday I reported that the Democrats were threatening to force a government shutdown if money for a border wall was included in the bill to fund the government, and one day later Donald Trump has unconditionally surrendered.  Despite all of Trump’s promises, a border wall isn’t going to happen at this time, but of course he is pledging to “try again” in September.  But will anything change for the Democrats between now and September?  Of course not.  The Democrats will continue to use these same tactics whenever funding for a border wall comes up, and […]

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The Libor witch hunt

Since I wrote my post about the Bank of England’s alleged manipulation of Libor before and during the financial crisis, something of a witch hunt seems to have developed. Certain people with axes to grind have jumped on the bandwagon set in motion by the BBC’s Andy Verity and are aggressively promoting their view that the Bank of England’s behaviour was fraudulent. Their argument is that the Bank of England has no business attempting to influence market rates, that those at the Bank who did this should be brought to justice just as traders who rigged Libor have been, and that businesses, […]

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Calling B.S. on Central Bankers

I’m a fan of the Marvel Comics movies, like X-Men and Iron Man. My lovely wife often catches me watching tidbits of the Avenger films when I sit down in front of the TV to relax for a few minutes. I’ll flip around until I find one, watch just 20 to 30 minutes, then move on to another project in the house. It drives her nuts! I know the ending. The characters use their skills to better the world. They have clear goals, choose their targets, and execute. These are nice, neat packages, which is completely unlike the real world. […]

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Democrats: Trump Must Surrender On Funding For A Border Wall To Avoid A Government Shutdown On His 100th Day In Office

Is Donald Trump going to unconditionally surrender to the Democrats and completely give up his dream of building a border wall in order to avoid a government shutdown on his 100th day in office?  As I have warned before, the Democrats are perfectly willing to force a government shutdown if the Trump administration and the Republicans in Congress do not let them win all of the key battles in this funding bill fight.  It is being reported that the Trump administration wants 3 billion dollars for extra border security and for construction of a border wall, and the Democrats are […]

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Profitable Insights from Money Metals’ Exclusive Podcast Interviews

Dr. Marc Faber, editor and publisher, The Gloom, Boom & Doom Report (4/7/17): “I think that the economy is not going to do as well as people expect… My sense is that the economy in the U.S. is weakening and not strengthening.” “Hard assets such as precious metals are at the historical low point compared to financial assets, so I think going forward there’s a huge discrepancy in performance between financial assets and gold. Hard assets will come back into favor.” “For the rest of 2017, I think that gold shares are an attractive asset class. Precious metals can easily […]

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11 Facts That Prove That The U.S. Economy In 2017 Is In Far Worse Shape Than It Was In 2016

There is much debate about where the U.S. economy is ultimately heading, but what everybody should be able to agree on is that economic conditions are significantly worse this year than they were last year.  It is being projected that U.S. economic growth for the first quarter will be close to zero, thousands of retail stores are closing, factory output is falling, and restaurants and automakers have both fallen on very hard times.  As economic activity has slowed down, commercial and consumer bankruptcies are both rising at rates that we have not seen since the last financial crisis.  Everywhere you […]

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Taxpayer Pain, Debt Ceiling; Frank Holmes on Trump and Gold

Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason. Coming up Frank Holmes, CEO of U.S. Global Investors joins me to share his thoughts on Trump’s first 100 days, the resetting that’s going on the global political front and gives what he sees as a very realistic price target for gold before the end of the year. Be sure to stick around for a fantastic interview with Frank Holmes, coming up after this week’s market update. Precious metals markets are putting in a mixed performance this week as gold prices hold above their breakout level from the prior week. […]

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Why Are So Many Millennials Living With Their Parents Instead Of Getting Married And Starting Their Own Families?

Did you know that the percentage of 18 to 34-year-old Americans that are married and living with a spouse has dropped by more than half since 1975?  Back then, 57 percent of everyone in that age group “lived with a spouse”, but today that number has dropped to just 27 percent.  These numbers come from “the Changing Economics and Demographics of Young Adulthood” report that was just released by the U.S. Census Bureau.  Some are postulating that the reason for this dramatic cultural shift is a phenomenon known as “extended adolescence”, while others fear that large numbers of young men […]

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When the Wheels Stop Rolling

When it comes to new car sales, most Americans are payment buyers. We want a good deal, for sure, but we really need a car payment that fits our monthly budgets. That’s a problem, given that we also want premium brands, snazzy features, and, for many of us, hulking big machines that look like they’d be more at home tearing up jungle roads than cruising on asphalt around town or on the interstate. All of that stuff costs money, which is in short supply with modest wage growth. But that’s OK. For the last several years, automakers, or at least […]

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