Ceiling? What Ceiling?
Next time you are out and about, shopping or getting gasoline, take a look around you. As you observe the baby in the stroller, the old man sitting on the bench, or the teenager filling up his father's car, remember that each and every one of them is responsible for their share of the national debt, namely $50,000.... more
Never Have So Many Been Fooled By So Few!
With Federal debt in the United States closing in on $17 trillion, the debt to Gross Domestic Product (GDP) ratio has exploded higher. Sadly, we are now solidly above the 100 percent level of debt to GDP, a ratio that has always been problematic for nations, especially when so much of the debt is held by foreigners, as is the case with the U.S. Yet, somehow the financial media has continued to portray this as benign and not likely to present too much danger. ... more
When Ships Start Sinking, Rats Start Fleeing
I am always amazed at what investors will actually think is true at major turning points. It seems as though when manias reach their zenith, common sense and logic amongst the masses is nowhere to be found. Consider the last three times in recent history where the vast majority of investors really believed the truly unbelievable.... more