Author Archive
Plug for Schiff’s Book Crash Proof
As part of my atonement for mocking Schiff back in early 2007, I always plug his book whenever appropriate. I don’t recommend it as a place to learn international trade theory, but if you accept his conclusions about the direction of the dollar and US assets in general, then you should read his recommendations for […]
Read moreSchiff versus the Establishment
Peter Schiff is a very interesting guy. He has been basically spot-on for the last few years with his warnings about the US economy. Are you surprised to learn that many big gun finance gurus mocked him along the way? Below are three good examples: (1) Schiff versus Arthur Laffer (8/28/06) (2) Schiff versus Steve […]
Read moreIs the Fed Inflating or Deflating?
At first you would think this should be an easy question for economists to answer–much like asking a doctor, “Is the patient’s fever getting worse?” However, there is actually healthy disagreement on the point even within the narrow group of very-free-market economists. Hard money guys like Peter Schiff have been warning that the US dollar […]
Read moreTime Says Oil Prices Rigged
In a piece that starts out harmlessly enough and then descends into absurdity, Time argues that oil producers themselves are probably buying futures contracts in order to fatten their earnings. You might think manipulating the world oil market would be risky and expensive, but you (apparently) would be wrong, according to these writers: The point […]
Read more"Is My Bank Safe?"
Robert Wenzel over at EconomicPolicyJournal gives us his thoughts on protecting yourself from bank runs.* On a related note, in years past my wife and I had used Emigrant Direct as a way to take money out of our checking account (where we might spend it) and get it earning interest but in a very […]
Read moreRecession Does Not Mean Low Inflation!
There is a myth that during an economic downturn, the one silver lining is that pressure is taken off prices and so inflation rates come down. This mentality oozes from the financial press, and even Ben Bernanke endorsed it Friday during the Group Think session in Jackson Hole, Wyoming. Even though the PPI just hit […]
Read moreBasic Steps to Prepare for a Possible Crisis
I am pessimistic about the U.S. economy‘s prospects for the next five years. So let’s go over some very basic and obvious steps every household should take, as quickly as possible. Note that the goals don’t have to be achieved overnight, but setting those goals should be done ASAP. (By the way, I admit that […]
Read moreThe Unintended Consequences of Bailouts
“Despite” the federal government’s recent assurances, Freddie Mac and Fannie Mae continue to struggle. From today’s Washington Post: A major credit rating agency cut the preferred share rating on Fannie Mae (FNM.N) and Freddie Mac (FRE.N) amid mounting concern about the ability of the two largest U.S. home funding providers to access capital, in the […]
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