Spending

The Days the Music Died

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By GE Christenson – Re-Blogged From The Deviant Investor

The music died many times in the past. To name a few:

  • 1929 Market crash
  • 1933 President Roosevelt confiscates citizen gold and declares it illegal to own more than a few ounces.
  • 1971 President Nixon “closed the gold window” and severed the last link between the devaluing dollar and gold.
  • 1987 Stock market crash
  • 2000 Stock market and “dot-com” crash
  • 2008 Stock market and housing crash
  • 2019? Stock market and “everything bubble” correction/crash
  • 2020-2025? “Inflate or Die” QE, bond monetization, helicopter dollars etc.

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Borrowing, Spending, and Sustainability

usissuescom Monetary Policy , ,

  By Bob Shapiro

Keith Weiner blogged recently explaining how borrowing to consume is a bad thing. Nice job Keith.

However, extending Keith’s arguments, it would imply that any consumption makes us poorer. Do you really need to trade in your 10 year old car when it’s still doing a fine job getting you where you want to go?

Keith makes the distinction between borrowing to consume but I don’t see it. Consuming is consuming. It’s only in the aggregate that the situation makes a difference.

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US Budget Deficit And Interest

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By David Haggith – Re-Blogged From Gold Eagle

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“Black Swan” Author Just Issued a Powerful Warning About Global Debt

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By Frank Holmes – Re-Blogged From Gold Eagle

The world is more fragile today than it was in 2007. That’s the opinion of former derivatives trader Nassim Taleb, whose bestseller, The Black Swan, is about how people make sense of unexpected events, especially in financial markets. True to form, he made a whole lot of money after predicting the global financial crisis more than a decade ago.

Speaking with Bloomberg’s Erik Schatzker last week, Taleb said the reason why he has reservations about today’s economy is that it suffers from the “same disease” as before. The meltdown in 2007 was a “crisis of debt,” and if anything, the problem has only worsened.

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Greatest Demographic Shift In History

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By Marin Katusa – Re-Blogged From Silver Phoenix

The economy depended on the spending habits of baby boomers the last three decades.

The success and failure of many companies depended on the spending habits of those same baby boomers.

It was all about the baby boomers.

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Universal Basic Income For Everyone!

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By Gary Christenson – Re-Blogged From Silver Phoenix

Several countries and cities studied and tested a universal basic income (UBI). At first glance it looks like giveaway nonsense:

  1. Who pays for the giveaways?
  2. Does the UBI discourage work and self-improvement?
  3. How much price inflation does it create?
  4. How much additional unpayable debt will be created by the UBI?
  5. The UBI should be how large? If $1,000 per month per person is good, is $10,000 per month better? Which bureaucrat defines the size of the benefit?
  6. Does it apply to everyone? Adults only? Means tested? Only those who voted and paid taxes? Only those in good standing with the “thought police?”

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