A bill has surfaced in the Senate called the ‘Banking For All Act’, sponsored by the Ranking Member of the Senate Banking Committee, U.S. Senator Sherrod Brown (D-OH). In the press release, Senator Brown lays out the details of his bill as well as how he looks forward to urging his colleagues to include it as part of the coronavirus economic stimulus package. Continue reading
NEW YORK HEALTH OFFICIALS TOLD RESIDENTS TO CONGREGATE IN HUGE CROWDS IN “DEFIANCE” OF CORONAVIRUS
Back in February, health officials in New York told residents to congregate in huge crowds in “defiance” of Coronavirus, a move that could have exposed thousands of people to COVID-19.
New York City Health Commissioner Oxiris Barbot posted a tweet on February 9 urging citizens to flock to Chinatown in large numbers to celebrate the lunar new year while suggesting that advice to avoid crowds was “misinformation.” Continue reading
The unilateral response from governments to the coronavirus is to helicopter money to people and their businesses in unlimited quantities. Their priority is to keep the debt-driven Keynesian show on the road, and policy makers are approaching the task with unseemly gusto.
There was evidence that the credit cycle was already on the turn with the global economy entering its regular period of financial and economic crisis even before the coronavirus hit. Thinking it is only a matter of dealing with the pandemic before returning to normal is therefore a common and fatal mistake. The combination of current events is leading to an infinite problem: central banks, and the Fed in particular, are trying to backstop everything and they will undoubtedly fail. Continue reading
How long could you sustain your household if you were to stop earning income? If you are like most Americans, the answer is not for long. Only 40 percent of Americans can afford an unexpected $1,000 expense with their savings. In fact, nearly 80 percent of workers are living paycheck to paycheck. It is no surprise that the probability of an economic recession brought on by the coronavirus pandemic caused many to worry. Continue reading
Even before the novel coronavirus appeared, many American families were falling behind on student loans, auto loans, credit cards and other payments. America’s debt overhead was pricing its labor and industry out of world markets. A debt crisis was inevitable eventually, but covid-19 has made it immediate. Continue reading
1. Portability
Gold bullion is extremely portable and is liquid just about anywhere in the world. Ask us about traveling with gold. Continue reading
As some of my readers might remember, there was a 1970’s TV show called The Walton’s. It was a weekly staple during my early teenage years. The show featured the life of a family living in a small Virginia community during the 1930’s Depression years. Although the family was poor, it was rich in love, respect and inner strength. It was a show about the importance of holding on to ones values and morals in a difficult and often negative world. Continue reading
I’m no economist, but I’m not stupid either. I have two eyes, and I have a brain and I use them both; and they tell me that something is going on right now in regards to our economy; particularly the dramatic drops in the closing numbers of the NYSE, or New York Stock Exchange.
The following are just my observations and thoughts on the current state of affairs in America. Take them for what they are, my opinions. However, disregard them at your own peril; for they may prove to be true.
I don’t know if you’ve been paying attention, but the Dow Jones has been taking multiple, large scale hits; with the numbers plummeting. At the opening bell of trading today the DOW immediately took a hit of over 7%, triggering a Level 1 Circuit Breaker to trip; causing a 15 minute shutdown for the panic to subside… Continue reading
