Bill, Thanks for the shout out to Mises' Human Action. After first reading Human Action as young man, I immediately thought to myself, "why the hell is this not required reading in all business schools." After I got a little older and more seasoned, I realized why. After reading Human Action you'll come to the conclusion that central planning is a complete fools errand. Make no mistake about it, the United States practices central planning and the Federal Reserve is its hammer. Keynesian economics promotes central planning and government largess while the Austrian School of economics promotes a laissez-faire economy and small government. All the prominent business schools in the U.S. teach only Keynesian economics. This is beginning to change thanks in large part to the Mises Institute. Human Action is a tough read, but the knowledge and wisdom you'll receive from this giant of an economist, historian, logician, and sociologist will definitely make the struggle worthwhile. I've shared this book with family, friends, business associates, and employees throughout the years. It never gets old witnessing their light bulb moment!
WIth 8% annual inflation, I find it very hard to understand why Tom has such a large allocation in cash in his portfolio. I tried to explain my reasoning to him, that if we keep cash, pretty soon we will only be able to buy goods and services 8% less in value. I for one will not keep any of my portfolio in Treasury Bonds with fast declining values, or 0.25% CDs at the bank, just so that I have the ready to buy any bargain stocks later, as he advocates. Previously he always advocated gold for all long term holdings, and I for one will be sticking to that. And I won't be buying any stocks either, they are all going the same way in this climate, rapidly down. Its like catching a falling knife. But I feel sorry for all those people who are following him blindly into this fast declining portfolio of his. I tried to explain this to him but he cut me off and denied it all. I suppose you will delete this post as well and I will let my subscription lapsed. I initially joined it hoping for some advice on holding gold and silver physical and stocks but that is not to be, apparently.
"Those who fail to learn from history are doomed to repeat it". If we are lucky we will get a repeat of the late '70's and early '80's with stagflation & double digit interest rates as central banks around the world raise interest rates in an attempt (let's hope not in vain) to bring inflation under control (I still remember my Canada Saving Bonds paying me 19.5% interest in 1981) At worst, we all become trillionaires or quadrillionaires when our fiat money becomes less valuable than a roll of toilet paper. Either way it will not be a soft landing for the economy or for those whose lives will be upended as a result of the economic, social and political convulsions that will follow.
Yes Bill, it seems a devestating crash is at hand, but never fear, for your uncle Joe is in the drivers seat, he thinks.
How can we be worried about losing our life's work savings, while so many more important issues are front and center. How selfish of our dear readers to focus all of their energy on saving a few scraps of cash, while miss Heard has been violated with bottles, a pothead is taking over as the biggest twit, women may no longer be able to silence the little heart in their bellies and Russia may be ready to deploy a 100 mega on the poor Irish.( You may want to head back to the other third world shithole you reside, Baltimore).
So many constant attacks to our little brains daily, so much useless information coming from every direction all day long. How can we survive as a species if we are unable to decipher the useful information from the bullshit? Exactly! Become a useful idiot, become a democrat.
Some poor soul once stated that money will never bring happiness. This may be true because the mentally insane leader of this once free world is doing everything in his power to make our money disappear. Joe wants all your money, he wants you to be happy.
Yes, this is the cost of our ignorance, and the price is our hard earned cash and our freedom. People deserve the government they endure, or they change it.
We have all read about this insanity in our past, and yes it is happening again.
It seems to me that there is one thing different about our current economic situation than in any previous time in this country's history, or for that matter in the history of this planet. That difference is a debt of 88 TRILLION. I'm no mathematician but we could take every dime from the 500 richest people on the earth, use it to pay on the US debt alone, and it would hardly put a dent in the total. Therefore, it seems we have three solutions, the US government buy enough gold (if enough exists) to back the dollar, let the dollar devalue to worthless status, forfeit the debt outright or thru inflation. Almost forgot, we could pray for a miracle. kd
Is it possible? Mr. Bonner could pull a few strings and have CNN and Fox News take two minutes out of advertisement time to broadcast this sagacious information to our fellow Americans.
Selling the trash before the crash, with no fundamentals to measure value, it may be the best option, especially with a wishy washy political fed. Then what.
The Irish are used to suffering every so often most often at the hand of another Nation. Nothing has changed, possibly this time Ireland will lose its great love of America.
Bill, Thanks for the shout out to Mises' Human Action. After first reading Human Action as young man, I immediately thought to myself, "why the hell is this not required reading in all business schools." After I got a little older and more seasoned, I realized why. After reading Human Action you'll come to the conclusion that central planning is a complete fools errand. Make no mistake about it, the United States practices central planning and the Federal Reserve is its hammer. Keynesian economics promotes central planning and government largess while the Austrian School of economics promotes a laissez-faire economy and small government. All the prominent business schools in the U.S. teach only Keynesian economics. This is beginning to change thanks in large part to the Mises Institute. Human Action is a tough read, but the knowledge and wisdom you'll receive from this giant of an economist, historian, logician, and sociologist will definitely make the struggle worthwhile. I've shared this book with family, friends, business associates, and employees throughout the years. It never gets old witnessing their light bulb moment!
LMFAO!
That was awesome, love it! Mr. Bonner’s articles are pure genius!
Watch Powell shift reverse, the Fed lowers the Federal Tax Rate, and the plane crashes tail first.😂
WIth 8% annual inflation, I find it very hard to understand why Tom has such a large allocation in cash in his portfolio. I tried to explain my reasoning to him, that if we keep cash, pretty soon we will only be able to buy goods and services 8% less in value. I for one will not keep any of my portfolio in Treasury Bonds with fast declining values, or 0.25% CDs at the bank, just so that I have the ready to buy any bargain stocks later, as he advocates. Previously he always advocated gold for all long term holdings, and I for one will be sticking to that. And I won't be buying any stocks either, they are all going the same way in this climate, rapidly down. Its like catching a falling knife. But I feel sorry for all those people who are following him blindly into this fast declining portfolio of his. I tried to explain this to him but he cut me off and denied it all. I suppose you will delete this post as well and I will let my subscription lapsed. I initially joined it hoping for some advice on holding gold and silver physical and stocks but that is not to be, apparently.
"Those who fail to learn from history are doomed to repeat it". If we are lucky we will get a repeat of the late '70's and early '80's with stagflation & double digit interest rates as central banks around the world raise interest rates in an attempt (let's hope not in vain) to bring inflation under control (I still remember my Canada Saving Bonds paying me 19.5% interest in 1981) At worst, we all become trillionaires or quadrillionaires when our fiat money becomes less valuable than a roll of toilet paper. Either way it will not be a soft landing for the economy or for those whose lives will be upended as a result of the economic, social and political convulsions that will follow.
Yes Bill, it seems a devestating crash is at hand, but never fear, for your uncle Joe is in the drivers seat, he thinks.
How can we be worried about losing our life's work savings, while so many more important issues are front and center. How selfish of our dear readers to focus all of their energy on saving a few scraps of cash, while miss Heard has been violated with bottles, a pothead is taking over as the biggest twit, women may no longer be able to silence the little heart in their bellies and Russia may be ready to deploy a 100 mega on the poor Irish.( You may want to head back to the other third world shithole you reside, Baltimore).
So many constant attacks to our little brains daily, so much useless information coming from every direction all day long. How can we survive as a species if we are unable to decipher the useful information from the bullshit? Exactly! Become a useful idiot, become a democrat.
Some poor soul once stated that money will never bring happiness. This may be true because the mentally insane leader of this once free world is doing everything in his power to make our money disappear. Joe wants all your money, he wants you to be happy.
Yes, this is the cost of our ignorance, and the price is our hard earned cash and our freedom. People deserve the government they endure, or they change it.
We have all read about this insanity in our past, and yes it is happening again.
Keep your powder dry and keep your powder dry.
God Bless America, and those who fight for her!!!
It seems to me that there is one thing different about our current economic situation than in any previous time in this country's history, or for that matter in the history of this planet. That difference is a debt of 88 TRILLION. I'm no mathematician but we could take every dime from the 500 richest people on the earth, use it to pay on the US debt alone, and it would hardly put a dent in the total. Therefore, it seems we have three solutions, the US government buy enough gold (if enough exists) to back the dollar, let the dollar devalue to worthless status, forfeit the debt outright or thru inflation. Almost forgot, we could pray for a miracle. kd
Is it possible? Mr. Bonner could pull a few strings and have CNN and Fox News take two minutes out of advertisement time to broadcast this sagacious information to our fellow Americans.
Selling the trash before the crash, with no fundamentals to measure value, it may be the best option, especially with a wishy washy political fed. Then what.
The Irish are used to suffering every so often most often at the hand of another Nation. Nothing has changed, possibly this time Ireland will lose its great love of America.