I have written to you more times than I can count about how the US government’s own budget officials forecast a $20 trillion increase in national debt over the next ten years.
Remember, this isn’t some wild conspiracy theory. This was from an official projection released by the Congressional Budget Office (CBO) back in February.
Well, it turns out the CBO’s 10-year forecast is now much worse. Continue reading
The historical embodiment of monetary freedom is the gold standard. The era of its greatest flourishing was not coincidentally the 19th century, the century in which classical liberal ideology reigned, a century of unprecedented material progress and peaceful relations between nations. Unfortunately, the monetary freedom represented by the gold standard, along with many other freedoms of the classical liberal era, was brought to a calamitous end by World War I. Continue reading
“HELP – I NEED SOMEBODY…”
It happened so gradually that a lot of people didn’t even realize what was happening. The cost of living just kept rising faster than paychecks were, and little by little our standard of living just kept going down. Now we have reached a stage where the ultra-wealthy are thriving but almost everyone else is struggling.
For most people, it is a real fight just to pay the bills from month to month. Continue reading
Achilles Heel, Fiat Dollar and Gold
The fiat money system will not disappear just like that. Any expectations or hopes to that end should be tempered. Yes, the fiat money system could collapse; yet there is a significant likelihood it will persist longer than most people might think. This prolonged existence may come at a cost: a fascist state encroachment on the freedoms of citizens and entrepreneurs would be more profound than most people realize. Continue reading
Illustration: Francis Scialabba
The Fed’s war on inflation is finally trickling down to the wider economy, and the evidence is beginning to show that many Americans are feeling the pain.
Today’s Bureau of Labor Statistics’ latest Job Openings and Labor Turnover Survey (JOLTS) report came in far cooler than expected — US job openings fell in April to the lowest level in over three years, illustrating a significant slowdown in the labor market. Available positions dropped to 8.06 million, a decrease from the 8.36 million openings in March.
Even with high inflation and rising interest rates, the labor market has remained strong over the past few years, boosting discretionary spending for consumer goods. But a second straight month of declines shows that Fed policy is finally reaching jobs. Continue reading
While physical gold is a well-known safe haven asset which investors flock to in times of market turbulence as a way of protecting their wealth, gold is also the ultimate asset to own and possess in times of crisis and emergency. These crisis situations can range from episodes in which fiat currencies collapse, to times in which gold buys safe passage across international borders, and even to periods in which only gold can bail out and rescue an entire nation. Sometimes gold even ensures self-survival and can literally be the difference between life and death. Continue reading
The day of reckoning for unproductive credit is in sight. With G7 national finances spiraling out of control, debt traps are being sprung on all of them, with the sole exception of Germany.
No, No, No – not THAT kind!
Malinvestments of the last fifty years are being exposed by the rise in interest rates, increases which are driven by a combination of declining faith in the value of major currencies and contracting bank credit. The rise in interest rates is becoming unstoppable.
Do not be surprised to see a US Government deficit exceeding $3 trillion this fiscal year, half of which will be interest payments. And in the run up to a presidential election, there’s every sign of deficit spending increasing even further. Continue reading
The House of Representatives on Thursday voted along bipartisan lines to advance legislation blocking the Federal Reserve from creating its own central bank digital currency (CBDC).
Three Democrats joined all Republicans in voting for the bill — moderate Reps. Jared Golden, D-Maine., Mary Peltola, D-Alaska, and Marie Gluesenkamp Perez, D-Wash.
The CBDC Anti-Surveillance State Act was led by House Majority Whip Tom Emmer, R-Minn., and backed by Republican members of the House Financial Services Committee. Continue reading
In the current economic climate, many Americans find themselves struggling to make ends meet, as the pressures of inflation bear down on everyday living expenses. Under the Biden administration, the economic policies known as “Bidenomics” have come under scrutiny as inflation rates surge, affecting the cost of essential goods and services. Continue reading
