I recently interviewed Chuck Butler about winners and losers during inflationary times. I began with: “Historically inflation hurt creditors and helped debtors as they are paying back their obligations in much-depreciated dollars. I’ve had readers ask about borrowing money to invest. Chuck, that concerns me. Many of our readers are baby boomers or retired. …. Are you in the camp […]
» Read moreSince 2008, pundits are screaming – “Inflation is coming!” They are getting louder; do we scoff at the warnings, or take heed? What if they are right? If we take precautions, what harm can we do to our life savings if it doesn’t happen? Baby boomers worked hard and played by the rules. Most are past their peak earning years […]
» Read morePundit Bill Bonner’s article, “Money-Printing Means Inflation for the U.S. Economy”, concludes: “It’s inflate or die. And if anyone gets in the way of inflation… the ‘active shooters’ – in both the private sector and the public sector – start gunning for them. Last week, Treasury Secretary Janet Yellen came under fire for saying she might have to raise interest […]
» Read moreIn our recent article, How Long Can This House Of Cards Last? What Can We Do?, Urs Vrijhof-Drose remarked: “Asia and Russia have a problem with the USD being the global reserve currency. …. We believe that this ongoing depreciation of the USD will continue….” Charles F., a subscriber to both Chuck Butler’s Daily Pfennig and our letter, sent us […]
» Read moreWhat is happening is unprecedented! Two multi-trillion-dollar bailout packages in less than a year and a third in the works. The Charlotte Business Journal reports: “In the past few years, we have experienced three major tax and financial changes that we typically only expect once a decade. …. This year, we are expecting another major bill (if not multiple) to […]
» Read moreIt was a picture-perfect afternoon in Fort Myers, Florida. Jo, Holly, my son Drew, a couple of his college baseball teammates and I decided to take our brand-new boat for a spin in the Gulf. I passed my Coast Guard course and was full of confidence. We barreled toward the markers at the entrance of the Caloosahatchee River and I […]
» Read moreOne of my earliest childhood memories was my grandmother and me bringing home groceries in my wagon. I’ve never forgotten her ranting about rising grocery prices. She seldom raised her voice, but over dinner, she let it out…. “I’ve never been able to carry home $25 worth of groceries. We had to use the wagon – it’s outrageous!” Michael Maharrey […]
» Read moreThe politicos are hawking Modern Monetary Theory (MMT) to finance their reckless spending. Investopedia explains: “Modern Monetary Theory (MMT) is a heterodox macroeconomic framework that says monetarily sovereign countries (that) spend, tax, and borrow in a fiat currency they fully control, are not operationally constrained by revenues when it comes to federal government spending. …. The central idea of MMT […]
» Read moreInflation is defined as, “A general increase in prices and fall in the purchasing value of currency.” Inflation is a silent killer of retirement dreams. Most retiree’s income can’t keep up with inflation; even with the social security inflation rider. Jeff Clark’s article, “How to Deprogram Your Friends & Family from the Cult of Fiat Currency,” is a primer on […]
» Read moreAnyone remember when our money was backed by gold? Top of the dollar bill said “Silver certificate”? Today our bills say, “Federal Reserve Note”; called fiat currency. Fiat currency is government IOU’s (political promises). The value of fiat money is based on supply, demand and faith in the issuing government. Adam Smith said, “All money is a matter of belief.” […]
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