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Asset protection

Why Bad Economic Theories Remain Popular

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Posted by Steven Saville - The Speculative Investor

on Friday, 26 May 2017 07:46

EconomicCartoonLudwig von Mises and Friedrich Hayek, the most prominent “Austrian” economists of the time, anticipated the 1929 stock market crash and correctly predicted the dire consequences of government attempts to artificially stimulate economic growth in the aftermath of the crash. John Maynard Keynes, on the other hand, was totally blindsided by the stock market crash and the economic disaster of the early 1930s. And yet, Keynes’s theories gained enormous popularity during the 1930s whereas the work of Mises and Hayek was largely ignored. Why was it so?

Keynes became popular because he told the politically powerful what they wanted to hear. In particular, he provided power-hungry politicians with intellectual support for the schemes they not only already had in mind, but in many cases were already putting into practice. Despite being riddled with errors, Keynes’ theories also appealed to many economists because the implementation of these theories would confer a lot more influence upon the economics fraternity. The fact is that in a free economy there wouldn’t be much for an economist to do other than teach economics. He/she would certainly never have the opportunity to be involved in the ‘management’ of the economy.



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Asset protection

Mile Markers on the Road to Ruin

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Posted by Gary Christenson - The Deviant Investor

on Thursday, 25 May 2017 06:18

We know much is currently wrong with our financial world, as discussed in the James Rickards book “The Road to Ruin” and elsewhere.

 

  • The official U.S. government debt is nearly $20 trillion. Unfunded liabilities are 5 – 10 times larger. Debt has doubled every 8 – 9 years for decades – since the Federal Reserve was put in charge of devaluing the dollar. Debt will continue to grow, obviously out of control.
  • Millions of Americans are out of work, regardless of the official statistics.
  • Prices increase, some rapidly, regardless of the official statistics on consumer price inflation.
  • More government spending and debt are looming on the horizon. New and escalating wars are likely. Expect more deficits, debt, and inflation.
  • The U.S. stock market is selling at all-time highs, levitated by “easy money” and unsupported by fundamentals or breadth.

 

Option A: 

Trust the professionals who manage our digital and paper wealth which is backed only by debt, promises, fantasy, and confidence in the Federal Reserve and government. Believe official statistics and mainstream media that tell us things are peachy and not to worry.

Option B: 

Use gold and silver bullion (not the paper stuff) as financial insurance to protect the buying power of some or most of our net worth. Based on a century of experience, we can depend upon central banks and global governments to devalue currencies, create more debt, and propel gold and silver prices far higher.

Really? Those options seem extreme. Why? Read on!

STOCK MARKETS:

Consider John P. Hussman’s Exhaustion Gaps and the Fear of Missing Out.

w-deviant-investor-website-aa-current-work-in-pro

Read David Stockman: Market Crash to Occur

 

“Our country needs a good shutdown in September to fix mess!”

“There will be no bid for the stock once the panic sets in.”

BUBBLES:



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Asset protection

For The First Time Ever, European Equities Yield More Than Junk Bonds

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Posted by ZeroHedge

on Wednesday, 24 May 2017 07:55

Last week, when looking at the the distortion and absurdity unleashed by the ECB's asset purchase program upon European capital markets, we showed the unprecedented collapse in European junk bond yields as captured by the effective yield of the BofA/ML Euro High Yield Index, which is now trading just shy of all time lows, having dropped below 3% at the end of April, and printed at 2.79% on May 23, within bps of record lows...

high yield europe

... roughly 50 bps wider than where the the US 10Y is trading at this moment, and inside the 30Y US Treasury. Assuming a 1.9% European CPI (as of April), this means that the real rate of return on Europe's junk yields is now 0.89%.  But we digress.

....continue reading HERE



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Asset protection

"Trump Isn't A Trainwreck" Nassim Taleb Destroys Media Narrative, Urges "Rational" Investors To Hedge

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Posted by Tyler Durden - ZeroHedge

on Friday, 19 May 2017 07:26

When Nassim Nicholas Taleb looks at President Donald Trump, he doesn’t see “a trainwreck.” The real trainwreck, according to the trader turned author, is “unfettered globalization." That's the real danger that members of "the resistance" should be worried about, Taleb says during an interview with Bloomberg.

...for more written commentary go HERE or click image below:

Bloomberg 0

 

...also from zerohedge:

The Death Of The Virtuous Cycle



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Asset protection

Marc Faber: A Massive Slowdown in Economic Activity

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Posted by Marc Faber - Gloom Boom & Doom Report

on Thursday, 18 May 2017 17:37

Marc Faber sees the risk of an Economic collapse and financial crisis rising and it could occur at any moment. Getting informed about a collapse and crisis may earn you a lot, or at least prevent you from losing money. Interview May 15th/2017

 ....also from Marc: Marc Faber: The Markets to Crash within 12 Months

marc-faber-were-in-a-gigantic-financial-asset-bubble-that-could-burst-any-day



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