“Today Congress is constantly besieged by minority groups seeking benefits from the public treasury. Often these groups control enough votes in many Congressional districts to change the outcome of elections. And so, Congressmen find it difficult to persuade themselves not to give in to pressure groups. With no bad immediate consequence, it becomes expedient to accede to a spending demand. […]
» Read moreWhen I finished writing “Whistling Past The Graveyard”, I was furious. The Federal Reserve prints money at will. Theoretically, congress oversees the Fed – the Fed oversees the banking system, and they have our best interest at heart. While both feign good intentions, in practice they are lining their pockets at the expense of Main Street America. Fed Chairman Powell […]
» Read moreFed Chairman Jerome Powell’s recent remarks really infuriated me. He is “Whistling Past The Graveyard”, again trying to deceive the public. Wolf Richter shares some of his recent remarks: “Inflation has come in above expectations over the past few months.” “The expectation is that high inflation readings will start to abate.” “We don’t in any way dismiss the chance that […]
» Read moreI 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 […]
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