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The Federal Debt Trap: Issues and Possible Solutions

“Rather than collecting taxes from the wealthy, the government is paying the wealthy to borrow their money.” ~ New York Times, July 7, 2023 Titled “America Is Living on Borrowed Money,” the editorial observes that over the next decade, according … Continue reading

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GOLD: Takes A Licking And Keeps On Ticking

It doesn’t matter how much is thrown at the gold market; despite its recent price performance, it remains a highly resilient asset. Yes, the precious metal still has some major ground to cover before we see new bullish interest coming … Continue reading

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Optimism is creeping back into the gold market, but prices are expected to remain below $1,950 this week

Sentiment in the gold market is slowly shifting back to the bullish side as the precious metal’s resilience in the face of rising bond yields shines through. However, some analysts are warning that there is still insufficient momentum to push … Continue reading

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The FREAK SHOW: Treasury Increases National Debt By Over $850 Billion in Just One Month

A month ago, the fake debt ceiling fight ended and Congress suspended the federal government’s borrowing limit for two years. Since the debt ceiling deal, the US Treasury has added a staggering $851 billion to the national debt. Within a … Continue reading

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What Charles Ponzi’s Scheme and US Entitlement Programs Have in Common

The structure of Charles Ponzi’s scheme must have impressed the policy makers coming of age in the 1930s, because they would use the same structure for the nation’s new Social Security system. When Charles Ponzi’s investment opportunity to sell international … Continue reading

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King Andrew and the Bank

Andrew Jackson stares down the national bank and wins. On July l0, 1832, President Andrew Jackson sent a message to the United States Senate. He returned unsigned, with his objections, a bill that extended the charter of the Second Bank … Continue reading

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Hayworth: Congress Must Block Biden-IRS Tax Prep Plan

Ronald Reagan managed to make the ominous sound humorous. He famously noted, “The nine most terrifying words in the English language are: ‘I’m from the government, and I’m here to help.’” Reagan may have played it for laughs, but Joe … Continue reading

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Recession? Calm Before The Financial Storm?

Is a recession coming? Is this the calm before the storm? JPMorgan Asset Management Global Head of Fixed Income Bob Michele said that today’s economic climate calls to mind the lull seen in the 2008 financial crisis. Michele, who manages … Continue reading

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More Federal Debt Means More Taxes, Less Growth, and Weaker Real Wages

Since 1960, Congress has raised the debt ceiling 78 times, according to Bloomberg. The process of increasing the debt limit has become so regular that markets barely worry about it. Furthermore, as the 2011 debt ceiling crisis showed, the impact … Continue reading

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Sound Money Is Required for Real Budget Discipline

News here in the USA has been full of the latest farce known as raising or not raising the debt ceiling. After the usual dog-and-pony show, a budget deal was reached. But was it progress? It was a foregone conclusion … Continue reading

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