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U.S. Census Bureau Facts for Features: Older Americans Month: May 2016 President Kennedy first celebrated older Americans by designating May 1963 as Senior Citizens Month. After a meeting with the National Council of Senior Citizens, Kennedy encouraged all Americans to pay tribute to older people across the country. Every President since has issued a formal proclamation … Read more
TheMoneyShelf.com Launches New Online Bookseller Dedicated to Expanding Financial Literacy April 13, 2016 – Financial literacy is a vitally important skill for achieving success, yet one that is rarely taught in school. It is perhaps no wonder that more than 75% of Americans are living paycheck to paycheck, without enough money saved up in case … Read more
Harry Dent, best-selling author and economist, has warned that the stock bubble in the U.S. today is the biggest in history and that the “greatest crash of your life is just ahead…” Writing on his website EconomyandMarkets.com, Dent warned that The story on Wall Street and CNBC continues to be that we’re in a correction … Read more
Q: When a proposal for short selling is presented, a frequent objection is that profit potential is limited in that the shares can only go down to zero but losses are potentially infinite since there is no limit, in theory, to how high the stock price can go. How do you answer such an objection? … Read more
I prefer the approach Rothbard takes in Man, Economy, and State (written 1975), his one-thousand-page magnum opus and attempt to include all the laws of economics. He built on the work done by his mentor, Ludwig von Mises, in Human Action. Mises was from Vienna, Austria. The name Austrian Economics derived from a simple fact … Read more
The Silver Market was recently found to be rigged. Can Governments Fix a Market Price? No, they cannot. Consider the fact that all currency pegs have ultimately failed. Governments can subsidize one side or the other, but this doesn’t change the market price because all value is subjective. A good example is the Swiss Central … Read more
Q: What should I tell a client who is uncomfortable with speculation and would rather buy and renovate real estate when the yield is over ten percent and sell when it’s under five percent? A: That is a very good question. It raises many issues, which Rothbard (Man, Economy, and State) and Mises (Human Action) … Read more
Q: I’m having trouble understanding your statement that all value is subjective. I can clearly see how it applies to a diamond, but not to food. Food is necessary for life. Its value seems to be inherent or fundamental to the food itself. But you cannot eat a diamond. Its value is determined by passing … Read more
The US Federal Reserve (Fed) and European Central Bank (ECB) have created a very dangerous situation. Throughout the last six years, there has been a sense of coordination between the Fed and ECB. This was evident both in terms of where capital went as well as how it was delivered via monetary policy. For instance, … Read more