In October, the US government will be unable to pay it bills if Congress does not raise the debt ceiling. The debt ceiling is the legal cap that Congress sets on the amount that the Treasury can borrow. Since 1960, the debt ceiling has been raised 78 times. During Donald Trump’s presidency, the ceiling was
Government current expenditures Explosive growth of Fed’s balance sheet, 1980-2021 Year-over-year change in gross public debt (billions), 1980-2020
[Written in 1966, 21 years before Greenspan introduced money printing to the Federal Reserve system. Greenspan served as Chairman of the Fed for nearly 21 years.] This article originally appeared in the newsletter The Objectivist and was reprinted in Ayn Rand’s Capitalism: The Unknown Ideal. An almost hysterical antagonism toward the gold standard is one
. . . just how much individual families will receive from the recently passed $1.9 trillion COVID stimulus bill, here is what a married couple earning $150,000 with 2 children will receiv: Six checks at $1,400 each: $8,400; Two childcare credits at $3,600 each: $7,200; Two child credits at $3,000 each: $6,000; Total walking around
. . . not in stocks but in gold and silver. Actually, it’s been the right move to buy dips in the metals since 2016. But now the reasons for buying are evident.
It has been my delight to collaborate with Charles Goyette in writing The Last Gold Rush…Ever!, subtitled Seven Reasons for the Runaway Gold Market and How You Can Profit From It. Publication is set for October 27. The book can be pre-ordered on Amazon.
SPDR Gold Shares, an ETF that owns physical bullion rather than financial derivatives, has become one of the world’s biggest hoards of gold, surpassing even the holdings of some central banks.
The government’s reaction to the coronavirus has caused financial problems of monumental proportions. With the shutdown of businesses and massive layoffs, states and municipalities suffered huge losses in revenue. Two-thirds of state revenues come from income taxes or sales taxes.
Back on March 16, a report by Imperial College London forecast 2.2 million Americans would die from the coronavirus and that 81% of the U.S. population would be infected. Consequently, Trump and his team of experts, namely Dr. Anthony Fauci and Dr. Deborah Birx, began holding daily press conferences and quickly scared the daylights out
This past Sunday, Scott Pelley interviewed Fed Chairman Jerome Powell on 60 Minutes. Below are some excerpts. PELLEY: Fair to say you simply flooded the system with money? POWELL: Yes. We did. That’s another way to think about it. We did.