Category: Economics & Investing

Top Marginal Tax Rate Now Exceeds 50% in California, New York, and Hawaii Venezuela Sharply Devalues Its Currency Jim W. sent this: Days After Freezing Prices, Argentina Bans All Advertising By way of Professor Paul Caron’s TaxProf blog: Tax Hikes Backfire, Greece’s Revenues Plummet Items from The Economatrix: $5 Gas Hits California US Postal Service Ends Saturday Delivery In August To Save Itself Are Junk Bonds Warning Stocks Are About To Fall?

Chris Duane has expanded his Silver Bullet – Silver Shield video channel page. Check it out. Jim Rogers on Fed Easing? ‘This is going to end very very badly’ Items from The Economatrix: Nearly Half Of American Families Live On Edge Of Financial Ruin Why Gas Prices Are Rising Home Depot To Hire 80,000 For Spring

The Real Story Behind JPMorgan Chase & Co.’s (JPM) Infamous Whale-Sized Trade In Credit Derivatives Kevin S. suggested this “must watch”interview of Jeff Berwick: Get Far Away From USA…Its Collapse Will Be Messy. In this interview, Berwick aptly says: “We are in the last days of this financial system in the United States. This is Zimbabwe.” Berwick is starting a “Galt’s Gulch” ex-pat community in Cafayate, Argentina. JWR’s Comment: I believe that Chile would have been a better choice than Argentina, which has a socialist government and a currency with frequent bouts of inflation. Mac Slavo of the excellent SHTFPlan …

Forbes: Where Not to Die in 2013 Diana sent this from Coin World: Fake American Eagle silver coins surface. So henceforth, if you want to stack Silver Eagles, I’d recommend buying only sealed Monster Boxes, from a reputable dealer. Dr. Gary North: The Luddites Among Us Items from The Economatrix: “Severe” Danger Looming In Corporate Bonds Jim Rogers:  Don’t Sell Your Gold And Silver Coins Beware “Credit Supernova” Looming Ahead:  Pimco’s Bill Gross

Just as I anticipated: Platinum Climbs to a 16-Month High, Extending Premium Over Gold. (I hope that some of you took my advice last October and bought platinum when it dipped below the price of gold.) Bob Bauman of The Sovereign Investor recently reported some “voting with their feet” news: “In 2009, when the Labor Party in the U.K. raised the top income tax rate to 50%, two-thirds of the country’s 16,000 £1 million earners disappeared from British tax rolls. In 2010, HM Revenue and Customs reported only 6,000 remained. Rather than increasing revenue, the tax actually cost the U.K. …

A penniless Canada: Mint begins years-long process of collecting and melting down 82-million kg in coins Gasoline costs take biggest share of household income in three decades. (Thanks to G.G. for the link.) Is a global LIBOR settlement coming? Central Bank Snuffs Out Vietnam’s Thriving Gold Market Items from The Economatrix: January Auto Sales Indicate Strong Start to 2013. Own Physical Gold & Silver As Currency Wars Will Destroy Our Money Housing Packs Punch For US Growth In 2013 And Beyond

G.G. sent: Argentina freezes prices to break inflation spiral. JWR’s Comment: Wage and price controls never work. I explained why, back in 2007. Greek Isles Cut Off From Mainland For Sixth Day As Strikes Return With A Vengeance Why has US Oil Consumption Steadily Fallen since 2004? “Slay the messenger!” S&P says U.S. to file civil lawsuit over ratings Items from The Economatrix: Gold Run?  43 Tonnes of Gold Stand Ready for February Delivery on 1st Notice Day Economy Adds 157,000 Jobs; Rate Up to 7.9% January Jobs Report Offers Something for Everyone

Schiff Report: Dow 14,000, GDP, Jobs, Fed, inflation, treasuries, & gold. Peter Schiff observes: “All of this is an illusion created by inflation.” Gold Leasing: The Case Of The Disappearing Gold. (Thanks to G.G. for the link.) Americans Rip Up Retirement Plans Items from The Economatrix: Gasoline At Highest Price Ever For This Time Of Year Fed Officials See Brighter Global Economic Outlook Why The Dow Will Hit New Highs Before Crashing 50%

2014: Too Late to Leave The United States? G.G. suggested this over at Zero Hedge: Friday Tragicomedy: Former Fed Advisor Urges Fed To Buy More, “A Lot More” … $30 Trillion More Items from The Economatrix: Goldman Sachs Braces For Bond Market Blowup Rush To Safety:  Americans Buy Nearly Half Billion Dollars Of Gold And Silver In January Countdown To The Collapse GDP Shows Surprise Drop For US In Fourth Quarter

Economic meltdown insurance: Virginia alternative currency plan moves forward Peter Schiff & Doug Casey On Gold, Investor Cluelessness, And The “Escape From America” Plan Items from The Economatrix: Unemployment Rates Fall In Most Large US Cities 2013:  We are Witnesses to a Grand Disconnect of Hope/Perception from Reality AGAIN  Like 2007 Growth Stall Obscures US Consumer, Business Gains Fed Blames Stalled Economy On Weather

The 8 Retailers That Will Close the Most Stores in 2013 Tax Foundation: Americans Pay 17.2% in Cell Phone Taxes Items from The Economatrix: US Debt Headed Toward 200 Percent of GDP Even After “Fiscal Cliff” Deal US Rating Still At Risk Despite Reduced Threats From DC Triple-Digit Oil In Sight As Economy Heals

Reader Michael W. sent this: Zimbabwe Is Down to Its Last $217. Comrade Mugabe and his cronies have absolutely destroyed and looted their nation which once had a vibrant economy. They must be overthrown! The destruction of the US Dollar continues: Bernanke Seen Buying $1.14 Trillion in Assets in 2014 Items from The Economatrix: Economists Growing More Upbeat About Year Ahead [JWR’s Comment: Well, golly gee, with the Federal Reserve and Treasury conspiring to soon double the money supply AGAIN, so stocks must go up, and we’ll all be “millionaires” soon, right? Given their monetary policies in recent years, I …

SBSS has launched a new “Liberty Girl” one-ounce .999 silver coin. ‘Wall St.’ flees NY for tax-free Florida The Disappearing Gold Dr. Gary North: Fed Will Buy $1.1 Trillion in Bonds. Then It Will Buy More. Items from The Economatrix: IMF’s Lagarde Says US Leading Economic Role At Stake The Endgame Is Being Played Out:  World Plunges Into Currency War, Economy Underperforming Again, US Banks Shaken By Biggest Deposit Withdrawals Since 9/11…The Collapse Will Begin New Homes Sales Slip:  Jobs Are The Key To Housing Recovery