Category: Economics & Investing

Hugh, Another reason for just underpaying your taxes is the increasing amount of tax fraud from people who will file a return as if they are you and claim your refund. What they never do is file for you and pay the small amount due. – C. C. S. o o o Hugh, It’s never, ever good to respond in a fit of anger. So, now that I’m calm, let me quote your letter writer in part: “If one must have a (pretend) “windfall” in April because of one’s lack of discipline or psychological needs…” Hey fella, the tax refund …

Americans are buying tons of gold – Sent in by G.G. o o o Macy’S Imploding, Catching Down To Sears & Penney’s – Sent in by RBS (Warning: Some foul language) o o o Items from Professor Preponomics: Why Did the EPA Spend $1.4M on Guns? (The Daily Signal) What Copper Prices Say About the World Economy (Market Watch) The Legendary American Consumer is Out of Cash in these Cities (Zero Hedge) China’s Economy isn’t Responding (Business Insider) Macy’s Cuts Full Year Forecast (Reuters) When the Government “Accidentally” Pays Too Much, Everyone Pays (Waste Fraud and Abuse) It’s a Bloodbath: …

In his recent article, My Experiences And Lessons Learned As A Suburban Prepper – Part 2, by CGman, the author states: “Depending on my tax refund this year…” Many people look forward to getting a tax refund from the government, seemingly because they regard this as “found money.” It is not; any refund on taxes paid is money you loaned the government tax free and have not had the use of some of it for as long as the full tax year. I recognize there are those among us who lack sufficient self-discipline to manage their finances, or who do …

It’s not just the young men in America who are living with their parents: Record share of young U.S. women living with relatives – Sent in by G.G. o o o SurvivalBlog reader R.V. wrote in to ensure the readers saw the third paragraph in the E&I article yesterday on “Banking Giants Learn Cost…” “Under the rule for total loss-absorbing capacity, or TLAC, most systemically important banks must have liabilities and instruments ‘readily available for bail in’ equivalent to at least 16 percent of risk-weighted assets in 2019, rising to 18 percent in 2022, the FSB said on Monday.” Remember …

Biggest Silver Supply Losers For 2015 o o o Have you seen the price of groceries lately? The Rapidly Rising Cost Of Living Is Absolutely Killing The Middle Class In America o o o Items from Professor Preponomics: U.S. National Debt is Actually $65T. “T” as in TRILLION. (Breitbart) Hint: Former U.S. Comptroller says Americans have lost touch with the reality of their spending. U.S. Debt: It’s a BIG PROBLEM (Zero Hedge) ADP Report Shows Latest Signs of Cooling Job Market (U.S. News and World Report) Commentary: There are curious conflicts among the jobs reports. A classic case of spin. …

Silly Season and Silly Fiscal Policy o o o Social Security Administration Spending Hit Record in FY2015; $6,345 For Every American With a Job – Sent in by G.G. o o o Items from Mr. Econocobas: Millennials Ditch Big Banks and Go Local With Their Money – Personally, I have done the same thing howbeit for a different reason, but I don’t find this shocking at all being on the front end of the millennial generation. Get your money out of the big banks and get local, credit union or otherwise. More Misery Ahead for Greeks as Economy Set to …

SurvivalBlog reader GJM writes in: This is one example of what my “hegemony warnings” have been about. Like Brazil back in ’90s, it’s only one domino; but unlike anything else so far, it’s a game-changing big one. Ultimately, America either goes to war to maintain a slowly-degrading status quo…or accelerates to fast-fall… War with China means war with Russia means war with Iran means… Fast-fall has the likelihood of being very fast and falling very far. No military retiree would get a tiny shard of his expected retirement; no police officer will ever get a pension—or much of a paycheck, …

US labour force participation stays at a 38-year low Only 62.4% of American civilians over the age of 16 are either working or looking for work. – G.G. o o o Biderman: “Welcome To The First Global Recession Created By Central Bankers” Sent in by G.G. o o o Items from Professor Preponomics: The Fed Desperately Tries to Maintain the Status Quo (Mises Institute) Ensure Your Financial Strategy Passes the Sleep Test(Christian Science Monitor) Collapsing Obamacare Co-ops Signal Big Trouble to Come(Fiscal Times) U.S. Debt Ceiling Has Risen No Matter Who Was In Office (Visual Capitalist) How One Retailer is …

There is new data showing that the new typical home buyer in America is much older. When in 2005 the typical buyer was between 35 and 40, the typical buyer today is now closer to 40 or 45 (and older in some regions of the country). What this signifies is the pent up demand of young buyers never materialized because of high student debt and stagnant incomes: The typical home buyer is now a lot older than just a decade ago: Recent buyer and seller data shows an older population purchasing real estate across the country. We also see this …

I just noticed that the spot price of platinum has dipped to just $940 per ounce. Meanwhile, spot gold close at $1,089.40. Whenever you can buy platinum for less than gold, then it is a good time to hedge into some physical platinum! For the sake of recognizability in barter, my favorite platinum coins to buy are the 1/2-ounce and 1/4-ounce U.S. Liberty coins, from the U.S. Mint. It is best to buy them in PCGS or NGC slabs. – JWR o o o Obamacare – The Gift That Keeps On Taking Sent in by J.Q. o o o Items …

I think am going to be sick. For God’s Sake Bill STOP! Sent in by JFJ. o o o Shippers warn of overcapacity, cancel scheduled voyages The Juggernaut is slowing down. I’ve been following Mish’s blog for a couple of years now. He’s generally been accurate with his observations and predictions, and I think he is correct about a big slowdown (and recession?) coming soon. – P.S. o o o Items from Professor Preponomics: Is the American Market Rigged? (Christian Science Monitor) An Unpleasant Surprise on Health Insurance Rates Courtesy of Obamacare… (NY Times) Commentary: …although not unexpected! How Beijing …

SurvivalBlog reader D.S. sent in this link about crossing the borders with precious metals. It’s not just cash anymore that arouses suspicion. Crossing Borders with Gold and Silver Coins – a Glimpse of Things to Come o o o The disinformation campaign in full swing about the U.S. economy. The economy is on an unsustainable debt path. The Most Devious Liars In The Room. Sent in by J.Q. o o o Items from Professor Preponomics: National Security Lines Blurred via Business Relationships Between China and U.S. Tech Giants: IBM, Cisco Systems and Microsoft (New York Times) Glencore Watch: The Search …

SurvivalBlog reader P.S. sent in this screen shot from the latest November 2 US Treasury daily statement. Congress and Obama also agreed to suspend the debt limit until March, 2017. That’s right, there are no limits on the Feds checking account for almost a year and a half. Whee… fools. o o o In Sweden Cash Is Becoming Radioactive Sent in by G.G. o o o Items from Professor Preponomics: 600 Ways to Cut Government Spending and Save $640B (The Fiscal Times) $70M for Michelle Obama’s Program to Empower Girls in Pakistan (Judicial Watch) Master Your Budget: 8 Steps and …

Most retailers finally make it into the black during this season, but according to this link sent in by RBS, that may not be happening: Morgan Stanley predicts a bleak holiday season for most retailers o o o In a surprise finding, it turns out that the US has overtaken the Caymans and Singapore as a haven for the assets of the super-rich. Sent in by GJM o o o Items from Mr. Econocobas: National Debt Likely Doubles During Obama Presidency – While this is awful, we must not forget that Obama is not alone in this; nearly all his …

American Tax Refugees. Why so many Yanks are renouncing their U.S. citizenship. Sent in by G.G. o o o The Chinese Juggernaut is stumbling lately as seen by this article sent in by G.P. o o o Items from Professor Preponomics: Regulators to Shutter Health Republic Insurance of New York (Wall Street Journal) Social Security Strategy Loopholes used to Maximize Benefits Closed in Budget Deal (Market Watch) New No Money Down Mortgages: Wealth Building Home Loans (Financial Advisor Magazine) Risk to Loss of Banking Revenue Rises with Digital Transactions (Gallup) FBI Alerts: Common Fraud Schemes (FBI) Number of Dollar Stores …