Global Market Commentary, Analysis and Investments
Run, Saverin! Run!
Were it not for the fact that you’d still have to suffer the eternal torment of actually living with your wicked, miserable little self, life as a willing and active member of The State might be pretty tempting. After all, Team State — operating in direct competition with Team Freedom — enjoys some rather significant advantages, both on and off the field.
[Read more...]Run, Saverin! Run!
Were it not for the fact that you’d still have to suffer the eternal torment of actually living with your wicked, miserable little self, life as a willing and active member of The State might be pretty tempting. After all, Team State — operating in direct competition with Team Freedom — enjoys some rather significant advantages, both on and off the field.
[Read more...]The Dow sinking.
Gold sinking.
Oil sinking.
Copper sinking.
Yields sinking.
We struggled with this, Dear Reader. We meditated. We prayed. We drank heavily.
And finally…we overcame the rank desire to say: “We told you so!”
As you know, Martin Wolf, of The Financial Times, is the voice of The Economics Establishment. All that is great and good in the field — which isn’t very much — is given voice by Wolf. Then, it is acceptable for policymakers, Treasury ministers, and central bankers, not to mention the people you talk to at cocktail parties.
[Read more...]The Dow sinking.
Gold sinking.
Oil sinking.
Copper sinking.
Yields sinking.
We struggled with this, Dear Reader. We meditated. We prayed. We drank heavily.
And finally…we overcame the rank desire to say: “We told you so!”
As you know, Martin Wolf, of The Financial Times, is the voice of The Economics Establishment. All that is great and good in the field — which isn’t very much — is given voice by Wolf. Then, it is acceptable for policymakers, Treasury ministers, and central bankers, not to mention the people you talk to at cocktail parties.
[Read more...]Gold down below $1,600! Is the bull market in gold finally over?
Nah…let’s change the subject.
Today, our hearts go out to the poor 1%…
Yes, dear reader, they’re blamed for the crisis…
They’re reviled, calumnied, and criticized…
They’re hunted by the taxmen…
[Read more...]Freedom has a thousand charms to show,
That slaves, howe’er contented, never know.
— William Cowper, Table Talk
Emblazoned across the lucre-basted exterior of the Internal Revenue Service building in Washington DC, reads one of the most intellectually polluted quotes any free mind is ever likely to encounter:
[Read more...]The state of New Jersey wants to tax the value of unused gift cards.
We’ll let that sink in for a bit.
[a bit]
“The state will soon begin requiring gift card sellers to obtain ZIP codes from buyers so it can claim the value of cards not redeemed after two years,” according to an Associated Press story.
[Read more...]Here’s a meaningless abstraction for you, Fellow Reckoner. You ready?
US GDP grew at an annualized rate of 1.7% for 2011.
Now, what does that sentence actually tell us? What does it reveal about life or the quality of it; about the long arc of history and where we are along it; about the Heavens above us, the Hells below and our place in the present somewhere in between? What useful piece of information does this arrangement of letters and numbers divulge that has this morning’s news wires so abuzz with excitement?
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Doug Casey on Taxes and Freedom, Part II
Louis James: Tax Freedom Day this year was April 17.
Doug: That means that all the work the average guy does until April 17 goes to pay for the government that failed to protect him on September 11, 2001, failed to protect him from the crash of 2008, and continues failing him every day. We pay for an organization bent on doing not just the wrong things, but the exact opposite of the right things in economics, foreign policy, and everything else we’ve talked about in all our conversations. It’s rather perverse that Emancipation Day — the day the first slaves in the US were freed in the District of Columbia in 1862 — is April 16. But what is a slave? He’s someone who is deprived by force of the fruits of his labor. Sound familiar? I disapprove of slavery, in any form — including its current form.
[Read more...]