RSS Feed items

Don’t Lose Sleep over Deflation

by Michael Pento, Senior Economist and Vice President of Managed Products at Euro Pacific Capital

After hearing the dire warnings of deflation that have become the standard talking points of most economists, American investors may be reaching for a bottle of Prozac. I believe that their anxiety is misplaced. Unfortunately, modern economists don’t understand what deflation is or why, in reality, we have much more to fear from inflation.

Pick an Agency, Any Agency: Amtrak

As fiscal conservatives continue to seek avenues through which to derail the federal gravy train, it helps from time to time to take a look at the mind-numbingly long list of federal departments and agencies that are on board. Of course, this list is hardly exhaustive – just one that is publicly available – but it can certainly give us some concrete ideas on how and where to cut the spending.

Today: The National Railroad Passenger Corporation (Amtrak)

Amtrak Logo

America, the Odd Man Out

by John Browne, Senior Market Strategist, Euro Pacific Capital

At long last, a good portion of mainstream economists now concede that a ‘double dip’ recession is in the cards for the United States. To head off the pain, sixteen top economists addressed an open letter to the President urging him to “stimulate” the economy with a massive new round of government spending. We feel this is a recipe for driving a recession into a depression. However, there can be few doubts that such a move is being considered in the highest policy circles. Flush from victories in financial regulation and healthcare, the Administration may feel the conditions are ripe to push through another bold initiative.

Pick an Agency, Any Agency: BTS

As fiscal conservatives continue to seek avenues through which to derail the federal gravy train, it helps from time to time to take a look at the mind-numbingly long list of federal departments and agencies that are on board. Of course, this list is hardly exhaustive – just one that is publicly available – but it can certainly give us some concrete ideas on how and where to cut the spending.

Today: The Bureau of Transportation Statistics (BTS)

The Great Foreign Policy Debate within the GOP

Last week the Campaign For Liberty sponsored a a foreign policy debate between Bruce Fein and conservative radio talk show host Jeff Kuhner. Fein has recently released a book published by the Campaign for Liberty called “American Empire: Before the Fall“.

Please take some time to watch video of the debate embedded below. It truly demonstrates the dividing line between non-intervention and intervention. Both Fein and Kuhner provide excellent arguments, however I feel that Fein missed an opportunity to point out a serious flaw in Kuhner’s interventionist logic.

A Precious Metals Bubble?

by John Browne, Senior Market Strategist, Euro Pacific Capital

In the first few days of July, the prices of gold and silver appeared to break a five-month upward trend by drawing back about five per cent from the record June peaks. Despite many similar corrections that have occurred frequently during the long bull market in precious metals, pundits nevertheless looked to draw bold and significant conclusions from the drop. But just as investors were getting comfortable with the leading explanation – that a looming double dip recession will prevent inflation and thereby dampen demand for precious metals – the markets for both metals stabilized.

Why Not Another World War?

by Peter Schiff, president of Euro Pacific Capital and author of the new bestselling economic fable, How an Economy Grows and Why It Crashes

There is overwhelming agreement among economists that the Second World War was responsible for decisively ending the Great Depression. When asked why the wars in Iran and Afghanistan are failing to make the same impact today, they often claim that the current conflicts are simply too small to be economically significant.

Competing currency being accepted across Mid-Michigan

Ron Paul has often come out in support of abolishing legal tender laws and the idea of having other currencies compete with the dollar.  Well, in Michigan the legal tender laws may still be in place but many businesses now accept alternative currency such as gold, silver, and copper coins when doing business:

New types of money are popping up across Mid-Michigan and supporters say, it’s not counterfeit, but rather a competing currency.

Right now, you can buy a meal or visit a chiropractor without using actual U.S. legal tender.

They sound like real money and look like real money. But you can’t take them to the bank because they’re not made at a government mint. They’re made at private mints.

“I sell three or four every single day and then I get one or two back a week,” said Dave Gillie, owner of Gillies Coney Island Restaurant in Genesee Township.

Government Policies Pushing Towards Depression

by John Browne, Senior Market Strategist, Euro Pacific Capital

$15 million in stimulus money spent on road signs touting stimulus spending

According to ABC News:

As the midterm election season approaches, new road signs are popping up everywhere – millions of dollars worth of signs touting “The American Reinvestment and Recovery Act” and reminding passers-by that the program is “Putting America Back to Work.”

On the road leading to Dulles Airport outside Washington, DC there’s a 10′ x 11′ road sign touting a runway improvement project funded by the federal stimulus. The project cost nearly $15 million and has created 17 jobs, according to recovery.gov.

Thomas Jefferson Quote of the Day

"Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains."

There are currently 368 members signed up on RealLibertyMedia.com