With a big grin, former colleague Doug Casey told me, “Sure, you can trust the government!” I raised my eyebrows. He continued. “In the event of a crisis, you can not only trust the government to NOT do the right thing but also to do the exact wrong thing.” Remember the Karma law of Humility; “You can’t change something if […]
» Read moreMy early youth was spent in the inner city of Chicago, a sorry place today. Little boys, talking dirty, thought they were macho, but you’d get your mouth washed out with soap if you uttered those words around girls or your parents. Times have changed. Rolls off the tongue defines the old saying, Money Talks, while Bullshit Walks: “Sample Sentence: If […]
» Read moreBest of Dennis… Dennis is still tending to his health and hopes to be back writing very soon. Here’s another article I felt was relevant and worthy of a re-read. This article was originally posted on May 3, 2018, and as you can imagine the numbers in the article are even higher today… Does Government Debt Really Matter? The numbers […]
» Read moreI chuckled when I read the Wall Street On Parade (WSOP) article, “Congresswoman Katie Porter Tells the Fed that It’s got a ‘Big Problem’.” She asked Randal Quarles, Vice Chairman for Supervision of the Fed: “The Fed is largely responsible for dispensing the $500 billion Congress provided as a bailout for corporate America – the biggest bailout in our country’s […]
» Read moreNobel Prize winner Paul Krugman is at it again. He recently wrote, “US needs a really, really big relief package to keep its economy afloat.” Mr. Krugman’s opinions vary, depending on the political landscape. In late October 2016, anticipating the election of Hillary Clinton, he wrote, “Debt, Diversion, Distraction”. “Are debt scolds demanding that we slash spending and raise taxes […]
» Read moreI recently interviewed Chuck Butler about JP Morgan’s recent admission to five felony counts and $1 billion fine. I asked, “When Is It Going To End?” Right after finishing the interview, ZeroHedge reported: “Goldman Sachs is reportedly on the cusp of settling one of the biggest criminal cases involving a Wall Street bank since the financial crisis: According to a […]
» Read moreWith all the political hoopla going on sometimes it is hard to separate fact from fiction. In 2019 the Fed made a quick U-turn, from raising interest rates to cutting them. The stock market continues to hit all-time highs, and the drums are beating louder about when the stock market bonanza will end. Dr. Lacy Hunt is chief economist Hoisington […]
» Read moreIf our elected leaders are not concerned about the government deficit, should the citizens be worried? Governments worldwide spend more than their total revenue and borrow to make up the difference. The U.S. Debt Clock shows the US federal debt to be $21.6 trillion, averaging $177,283 per taxpayer. The government now pays interest on $21.6 trillion. Below is a graph […]
» Read moreConsumers love rewards programs, whether it’s cash back, free miles or a free dessert at their local eatery. They’re generally a tit-for-tat, you do business with them and they reward you for doing so. Our article, “Does Government Debt Really Matter?” generated interesting responses. Subscriber Bob O. lamented how our government is borrowing billions and wasting it. He sent a […]
» Read moreThe numbers on the US Debt Clock are spinning at a dazzling pace. US government debt is now over $21 trillion, $174 thousand per taxpayer. Add another $3 trillion for debts of state and local government on the stack. Unfunded federal government promises are almost $113 trillion, $900,000 per taxpayer, not including another $6 trillion in state unfunded pension liabilities. […]
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