Quick slide presentation, but take the time. Many advisors are recommending packaged products that they themselves don’t understand. Let me offer this: if it takes 30 pages to explain the product/investment, take a PASS. Ask for the prospectus!
When Is It Time To Fire Your Financial Advisor?
Siri: Programmed To Shove A Knife In Google’s Jugular
You don’t even have to read the article, just think about the headline…getting out of hand.
Less than 60 days after I first posted on my Yen idea, Japan makes a move. The original link below is followed by an article on today’s move.
I’ve obviously taken a break recently that’s involved more thinking and less posting. One of the subjects of my ponderings has been the economic system that has allowed the United States to sort of soar above the rest of the world. The combination of virtually unlimited financial incentive and freedom to follow whatever path you so choose has created an extremely dynamic world power.
But recently, it’s occurred to me that the logical latter stages of capitalism will involve equally unfettered greed and despicable self-serving acts. Again, I’ve generally appreciated and downright enjoyed capitalism for most of my life. I’m simply wondering about what appears to be the final stages of something rather ugly. For those of you that would label an open mind as one bent on communism, save it…just look straight ahead and continue to follow. I understand the benefit of having huge carrots for those who would strive to make the world a better place, whether by creating efficiencies within our manufacturing sector or perhaps developing a new treatment to cure a type of cancer. But the pace and scale of the ugly examples seem to be gaining over the past few years. As our government appears to be completely bought and paid for, the likelihood that they’ll truly serve the best interests of this country is diminished greatly. Think Big Oil, Big Pharma, Wall Street…etc. Who cares about Mary Smith when Goldman Sachs just threw some serious skin in the game?
It’s this dirty side of the system that’s really starting to build an ever-expanding divide between the haves and the have-nots. Part of the problem is the degree to which it is becoming accepted as a societal norm. While shows like American Greed are interesting, they’re no longer shocking. Whether it’s the money manager bilking his simpleton investors for millions or the doctor extracting a hell of a lifestyle via medicare fraud, it’s snoresville. While the “middle middle” class is becoming more annoyed by the day, the true issues lie within closer proximity to the poverty line. It is this group of people who are losing hope in large numbers. As this story continues to unfold, you will begin to see the early signs of revolt build until an ominous cloud pushes closer and closer to your front door.
Can I give you two characteristics of our current situation that are going to truly seal our fate? Good, thanks. Number one: a complacent citizenry. Number two: a fat government posing as the answer to all of our concerns. With attention to number one, number two can be much more easily addressed. Of course, another option involves simply allowing the torch and pitchfork crowd to handle things in their own way. The good news is that the math is pretty simple. When our current strategy of buying calm through a bankrupt welfare system finally falls apart, the streets are going to get a little dicey.
And that, my friends, is my Halloween horror story for you.
This is a very interesting article on recent killings in Veracruz, Mexico. The targets are members of the Zeta drug gang, while their hunters are an anonymous group of vigilante killers.
Shadowy group says it targets Mexico drug cartel; some are glad …
Gold and the Swiss franc: Flight to safety
This article from the Economist suggests that SNB’s move to counter the strength of the Franc (print Francs/buy euro’s) may backfire and ponders what the response might be from Euroland. Regardless of the day-to-day details, this ends paper currencies getting jammed. I am not aware of a significant government that is strong enough right now to allow their exports to be hurt on an ongoing basis by a strong domestic currency. Therefore, you’ll see retaliation in the form of a counter to the counter.
No francs, or how the Swiss move could backfire
The yuan is still a long way from being a reserve currency
Yen pain in this article is a strong yen…they are attempting to inflate. Global inflation is underway; keep your eye on the ball.
Japan May Spend $26 Billion Countering Yen Pain, Document Shows
This is a great article about an MIT grad who’s just nailing it right now.
If you are depending upon a pension for your retirement (or know someone who is), this is a worthy read.
“A Trillion Here, $500 Billion There,”
This brief article from The Economist details the current relationship between Germany, France and the rest of the Eurozone.
Charlemagne: The driver and the passenger
I found this hard to believe as I continue to see people make borderline mentally challenged decisions regarding their finances.
Drop in Impulse Buying Hurts Big Retailers
Remember back to….yesterday, when the european debt crisis was cured, all was good and stocks had a rosy future? Yeah, that’s over…until tomorrow that is.
IBM Q3 Revenue Misses Estimates on Slow Demand
U.K. Inflation Quickens More Than Forecast
Debt panic in China’s Wenzhou may auger wider woes
China Economy Grows at Slowest Pace in 2 Years
Stocks Fall, French Bonds Retreat; Copper Drops on China Economy Slowdown
Z Koolaid 