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Treasury Department reports $1.2 TRILLION loss in 2017
Treasury Department reports $1.2 TRILLION loss in 2017 Earlier this month, the United States government released its annual financial report for the year 2017. This is something the government does every year, similar to how large companies like Apple, or Warren Buffett’s Berkshire Hathaway, publish their own annual reports. Unlike Berkshire and Apple, though, whose […]
Why the most-recent selloff was just the beginning
Why the most-recent selloff was just the beginning On October 19, 1987, the Dow experienced its biggest one-day percentage loss in history – plunging 22.6%. The day will forever be known as “Black Monday.” The selloff was so fast and so severe, nothing else even comes close. The second worst percentage loss for the Dow […]
Meet the Italian government’s Orwellian new automated tax snitch
Meet the Italian government’s Orwellian new automated tax snitch By the end of the 3rd century AD, the finances of ancient Rome were in terminal crisis. Years and years of debasing the currency had resulted in severe hyperinflation– a period of Roman history known as the Crisis of the Third Century (from AD 235 through […]
This tiny corner of Rhode Island shows us the future of Social Security
This tiny corner of Rhode Island shows us the future of Social Security The United States Court of Appeals for the First Circuit gave us an interesting glimpse of the future last week when it ruled on an obscure case involving government pension obligations. Ever since the mid-1990s, police officers and fire fighters in the […]
Message from Planet Japan: The good times never last forever
Message from Planet Japan: The good times never last forever After having traveled to more than 120 countries in my life, the only person I know who’s been to more places than I have is Jim Rogers. Jim is a legend– a phenomenal investor, author, and all-around great guy. (His book Adventure Capitalist is a […]
Customs And Border Protection Clarifies: You Have No Rights While Traveling
Customs And Border Protection Clarifies: You Have No Rights While Traveling The government is like a poorly trained dog. If you let one bad behavior go, it just escalates until they bite. The government has been searching electronics like cell phones and laptops at the border since early in the Bush administration. But because the […]
The day I found out it was all rigged
The day I found out it was all rigged May 6, 2010 started off as a pretty boring day. The most exciting stories from the morning’s newspapers were reviews of the upcoming Iron Man 2 film. But all that changed at around 2:45pm when, without warning, the stock market crashed, and the Dow Jones Industrial […]
Why the next stock market crash will be faster and bigger than ever before
Why the next stock market crash will be faster and bigger than ever before US stock markets hit another all-time high on Friday. The S&P 500 is nearing 2,600 and the Dow is over 23,300. In fact, US stocks have only been more expensive two times since 1881. According to Yale economist Robert Shiller’s Cyclically […]
Science tells us this is all true
Science tells us this is all true On April 30, 1934, under pressure from Italian-American lobby groups, the United States Congress passed a law enshrining Columbus Day as a national holiday. President Franklin Roosevelt quickly signed the bill into law, and the very first Columbus Day was celebrated in October of that year. Undoubtedly people […]
Today the music stops
Today the music stops Today’s the day. After months of preparing financial markets for this news, the Federal Reserve is widely expected to announce that it will finally begin shrinking its $4.5 trillion balance sheet. I know, that probably sound reeeeally boring. A bunch of central bankers talking about their balance sheet. But it’s phenomenally […]
The real story behind America’s new $20 trillion debt
The real story behind America’s new $20 trillion debt Late yesterday afternoon the federal government of the United States announced that the national debt had finally breached the inevitable $20 trillion mark. This was a long time coming. It should have happened back in March, except that a new debt ceiling was put in place, […]
The world’s most powerful bank issues a major warning
The world’s most powerful bank issues a major warning In 1869, a 48-year old Jewish immigrant from the tiny village of Trappstadt in Germany’s Bavaria region hung a shingle outside of his small office in lower Manhattan to officially launch his new business. His name was Marcus Goldman, and the business he started, what’s now […]
Why you might as well paint a giant bulls-eye on your bank account
Why you might as well paint a giant bulls-eye on your bank account Vegetarians be forewarned… you won’t like what follows. We slaughtered a pig yesterday at the farm. I have two freezers full of pork now, and countless strips of bacon curing in the kitchen. I’ve written about this before– out here at the […]
It’s better to turn cautious too soon…
It’s better to turn cautious too soon… En route to Chile One of the greatest investors in the world is getting worried… Howard Marks is the billionaire founder of Oaktree Capital, one of the largest and most successful investment firms in the world. A few times each year Marks write up his thoughts about financial […]
Italy’s newest bank bailout cost as much as its annual defense budget
Italy’s newest bank bailout cost as much as its annual defense budget Two more Italian banks failed over the weekend– Banco Popolare di Vicenza and Veneto Banca. (In other news, the sky is blue.) The Italian Prime Minister himself stated that depositors’ funds were at risk, so the government stepped in with a bailout and […]
