Friday Socialism is the dominant ideology of our times. Even in the US, the home of freedom, looney-Bernie Sanders got a fair swag of votes. The problem, and it’s a big one, is that over the whole span of recorded history, socialism has never worked. Socialism relies on pre-existing accumulations of capital to finance its schemes. Once that is depleted, then the … [Read more...]
Stock Market Reality Show
Sunday Kanye West has bought stocks which beat the market by 40{781366457d9c05ca9285c5eb3e04ac75968647e24436986cab65f74e6f4b3aad} over the last year. How do I know? It’s on the front page of Yahoo Finance today. That struck me as reducing the serious business of investing in productive enterprises in order to obtain a return to the level of a television Reality … [Read more...]
Dollar Price of Gold Will Fall
Tuesday For the reasons pointed out in a previous post, a large fall in the dollar price of Gold would signify the point where the debt problem has become so pressing that people have had to use their Gold to buy dollars in order to stave off personal ruin for a while longer. How perverse is that? At the very point where they most need the stability of Gold’s value, it … [Read more...]
Gold and Paper Bugs
For extended periods reality can be smothered by the crowd’s perception of it. In the areas of money, two major misperceptions offer a speculative prediction. The first misperception concerns those with unshakeable faith in the centrally planned system of paper debt notes. They have no awareness of honest money and regard the US$ as the premier investment vehicle. They … [Read more...]