Economy
I get more hits on my site for the term “Ron Paul” than any other by 5X. Strange for a financial website – maybe not since money and politics are so interrelated. If you don’t believe me just look at the amount of wealth that was destroyed by the “bone-headed” move the Canadian government made in November. By [...]
In spite of all of the big hoopla, the DOW simply isn’t what it used to be. Source: Peter Schiff Despite its recent eclipse of 13,000 the Dow now buys 30% fewer euros than it did then back in 2000 when it was priced at approximately 11,500. It also buys 35% fewer gallons of milk, 40% fewer bushels [...]
Source: Ron Paul’s Texas Straight Talk April 9, 2007 Recently I had the opportunity to question Federal Reserve Chairman Ben Bernanke when he appeared before the congressional Joint Economic committee. The topic that morning was the state of the American economy, and many of my colleagues raised questions about how the Fed might better “regulate” [...]
I think that some heads are going to roll when Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson are forced to admit that the subprime mortgage problem is not contained. In my previous professional life, I worked as a sales person for a software company. We as sales people were often referred to as [...]
It’s all over the news subprime lenders are imploding left and right. The net result is tighter lending standards that eliminates many new buyers and affects the trade-up market. What happened to the good old days when a person with a $60K job could afford a $600K McMansion? Obviously there is plenty of blame to spread [...]
During the housing boom, many banks devised “creative” loans allowing people to borrow money with no down payment and pay low interest rates for the first few years on adjustable mortgages. Now, as interest rates reset higher, more borrowers are missing payments stressing the lender’s books. Remember this article from a month ago – Subprime Lenders Gone Too [...]
The following two articles highlight the poor fundamentals of the U.S. Dollar. What are you doing to protect your wealth? Countries and Industries with Tailwinds by Monty Guild, Tony Danaheur The authors use a scoring system to measure the fundamentals of the U.S. Dollar and break it into its short-term, intermediate-term and long-term components. Short-term currency valuation [...]
No one says it quite like Peter Schiff. “December’s larger than expected jump in non-farm payrolls is predictably being touted as evidence of a more vibrant U.S. economy. Unfortunately, the data does not support this conclusion. The bloated service sector added 178,000 jobs, while manufacturing shed another 12,000 jobs. What this means is that 178,000 [...]
Michael D.
Royal Arse