Now a money manager at Janus Henderson, Gross was the co-founder of Pimco, which he helped build into the world’s largest bond fund manager and was dubbed the “bond king” by the financial media. In his note, Gross said he expected the 10-year yield to rise above 2.75% by the end of this year. But he waved away worries that rising yields would deal pain to investors, saying higher yields could sit along with slightly positive returns for bonds.
In any event, fixing to borrow upwards of $1.2 trillion in FY 2019, Simple Steve apparently didn't get the memo about the Fed's unfolding QT campaign and the fact that it will be draining cash from the bond pits at a $600 billion annual rate by October. After all, no one who can do third-grade math would expect that the bond market can "easily handle" what will in effect be $1.8 trillion of homeless USTs: Read More
A campaign featuring Smokey and the slogan "Smokey Says – Care Will Prevent 9 out of 10 Forest Fires" began in 1944. His later slogan, "Remember... Only YOU Can Prevent Forest Fires" was created in 1947 and was associated with Smokey Bear for more than five decades.[6][7] In April 2001, the message was officially updated to "Only You Can Prevent Wildfires."[6] in response to a massive outbreak of wildfires in natural areas other than forests (such as grasslands), and to clarify that Smokey is promoting the prevention of unplanned outdoor fire versus prescribed fires.[8][4] According to the Ad Council, 80% of outdoor recreationists correctly identified Smokey Bear's image and 8 in 10 recognized the campaign PSAs.[9]
Griffin’s book is a humdinger and will certainly upset brainwashed American super-patriots, but it throughly documents how Washington’s aggression toward other lands is covered up by politicians, media, and court historians with moral verbiage. In my view the hubris, arrogance, and ignorance of “American exceptionism” has the world locked on a trajectory to its extinction in nuclear Armageddon. Read More

Since the closing of the gold window by Nixon there have been prominent and persistent voices which warned that fundamentally flawed financial system conditions would lead to long term catastrophe for the US and global economy.  Those voices reached a crescendo during the serial market crises of 2000-2011.  Now, after a 9 year rise in US stock markets, such cautionary narratives are difficult to find.  Fears of debt bubble collapse scenarios have given way to complacency and the blanket assumption that central banker machinations have all the angles covered.
On the anniversary of finding Smokey Bear in the Capitan Gap fire, Marianne Gould from the Smokey Bear Ranger District, Eddie Tudor from the Smokey Bear Museum and Neal Jones from the local Ruidoso, New Mexico radio station created "Smokey Bear Days" starting in 2004.[55] The event celebrates the fire prevention message from the Smokey Bear campaign as well as wilderness environment conservation with music concerts, chainsaw carving contests, a firefighter's "muster" competition, food, vendors and a parade. The "Smokey Bear Days" celebration is held in Smokey's hometown of Capitan, New Mexico the first weekend of May every year.[56]
Our family would like to thank you for Heath’s recent financial aid award letter. However, we are very concerned with the results. Our expected family contribution dropped from $20,365 in 2016-17 to $6,987 for the 2017-18 school year, yet the award package left us with an additional need of over $8,500. The reduction in this year’s EFC is due to a reduction in assets, plus the fact that we will be sending two students to college during the 2017-2018 year. In spite of these changes, however, the amount of the current award is essentially the same as the award for 2016-17.

What if real estate prices remain the same for another decade?  As I look at economic trends in our nation including the jobs we are adding, it is becoming more apparent that we may be entering a time when low wage jobs dominate and home prices remain sluggish for a decade moving forward.  Why would this occur?  No one has a crystal ball but looking at the Federal Reserve’s quantitative easing program, growth of lower paying jobs, baby boomers retiring, and the massive amount of excess housing inventory we start to see why Japan’s post-bubble real estate market is very likely to occur in the United States.  It is probably useful to mention that the Case-Shiller 20 City Index has already hit the rewind button to 2003 and many metro areas have already surpassed the lost decade mark in prices.  This is the aftermath of a bubble.  Prices cannot go back to previous peaks because those summits never reflected an economic reality that was sustainable.  A chart comparing both Japan and U.S. housing markets would be useful here.
Pretending that it isn’t happening or hoping to hug it out is not a rational response to the chaos that is coming.  I know that some cling to their misguided views on the way the world works with the ferocity of a mother bear protecting cubs, but for the rest of us, there’s this thing called reality. When we accept it, we can prepare for it. Read More
We are barely out of the gates in 2018 and the S&P 500 is up over 4%. From just looking around me it is clear entrepreneurs and consumers are optimistic about the future. For much of the last decade the general public wouldn't touch equities with a ten foot pole. Now people are taking on debt to buy as much cryptoassets as possible. I don't share this optimism and primarily look for investments outside of the U.S. and in special situations and investments that may have low or negative correlation to the general direction of the market. Seven reasons why I want to be very careful going into 2018: Read More
The end game is upon us. With our aging demographic and continued employment loss, the US will have to maintain a policy of easy money and more QE. This will not bode well for real estate as employment is a key factor for paying a mortgage. The kids coming out of college arent finding good jobs and this will continue. So it’s monetary debasement with rising commodity costs. For as far as the eye can see.
What happened? Bank of America keeps a running tally of so-called “signposts” that signal a bear market coming ’round the bend. This month, the analysts checked two more off the list, bringing the total to 14 out of 19 indicators. The latest signals include the VIX volatility index climbing above 20, and surveys of investors showing that many think they will continue to go up, a classic contrarian indicator.
Bears have always operated more freely in the United States than in Europe. Despite a ban on short sales by the New York Legislature in 1812, the bear operator was a familiar figure in the nineteenth century. A few gained celebrity. Jacob Little, a saturnine figure, was a leading bear operator in the first half of the century. Known variously as the “Great Bear,” the “Old Bear,” and the “Napoleon of Wall Street”, Little also operated on the long side, and perfected the technique of catching shorts in corners, which became a characteristic feature of the U.S. market. Little was destroyed in the “Western Blizzard” crash of 1857.
With the Dow Jones Index falling 665 points today, the risk of a large market correction has just increased significantly.  Ironically, I discussed the very indicators that were setting up for a huge market correction in my newest video which I recorded on Tuesday.  Unfortunately, I wasn’t able to get the video posted on my Youtube channel on Friday morning and now on my website until late in the evening.
Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.
RATE AND REVIEW this podcast wherever you listen.Turkey is the Epicenter of Emerging Market ConcernsRight now, the epicenter of the concerns about the emerging markets is coming from Turkey. What is the problem with the Turkish lira? Turkish President Erdogan is veering off into some very dangerous territory with his stance with the Central Ban ...…

That concludes the fifth and final installment in this series. I hope you have enjoyed reading my insights into these “big ideas” as much as I have enjoyed writing them. Although it’s over, I do have something special to send you in the coming days. It’s a personal video message that I just finished recording. Think of it as a stepping stone to taking these “big ideas” to the next level. I’ll tell you more about it in my series recap email, tomorrow.


According to a 2017 study by the Federal Reserve, 44% of Americans wouldn’t be able to cover an unexpected $400 expense without borrowing or selling something. Yes, nearly half the country can’t come up with $400 cash in an emergency. That’s stunning. The slightest mishap—a toothache, a minor car problem—will send them into debt or force them to sell something.
Peter Schiff is an economist, financial broker/dealer, author, frequent guest on national news, and host of the Peter Schiff Show. He follows up his daily two-hour show with a weekly podcasts focusing on weekly economic data analysis and unbiased coverage of financial news, both in the U.S. and global markets. As entertaining as he is informative, Peter packs decades of brilliant insight into every news item. Join the thousands of fans who have benefited from Peter's commitment to getting the real story out every week.
Why has real estate been such a drag on the overall Japanese economy?  First, Japan’s unemployment rate stabilized after these bubbles burst but it shifted to a large temporary or contract based employment economy.  One third of Japanese workers operate under this new world.  Relatively low security with employers and this has spiraled into lower income and money to finance home purchases.  The fact that the U.S. has such a large number of part-time workers and many of the new jobs being added are coming in lower paying sectors signifies that our economy is not supportive of the reasons that gave us solid home prices for many decades.  I think this is a key point many in the real estate industry fail to emphasize.  How can home prices remain inflated if incomes are moving lower?

This article will focus on the top four precious metals, gold, silver, platinum, and palladium.  Even though Rhodium and other metals are considered precious, the ones listed above take the lion’s share of the investment market.  Furthermore, while platinum and palladium are purchased as investments, they have a much larger industrial component than gold or silver. Read More
In his book, “1984”, George Orwell envisioned a future crushed by the iron grip of a collectivist oligarchy. The narrative told of the INGSOC Party which maintained power through a system of surveillance and brutality designed to monitor and control every aspect of society.  From the time of the book’s release in 1949, any ensuing vision of a dark dystopia depicting variations of jackboots stomping on human faces, forever, has been referenced as being “Orwellian”.  This is because Orwell’s narrative illustrated various disturbing and unjust conceptualizations of control, crime, and punishment. Read More
RATE AND REVIEW this podcast wherever you listen.https://itunes.apple.com/us/podcast/the-peter-schiff-show-podcast/id404963432?mt=2&ls=1Turkey's Current Account DeficitThe "Turkey baste" continued on Monday, although Tuesday we did have a bit of a reversal, Tuesday bounce in the lira, rising about 7 percent or so, in today's trading. But still, ...…
The millions of people that have lost their home and will lose their home are probably in households with children in many cases.  Some may be in college and looking to buy in ten years.  The notion that housing is always a great investment runs counter to what they saw in their lives.  Will they even want to buy as many baby boomers put their larger homes on the market to downsize?  Will they clear out the shadow inventory glut?  Now I’m not sure how things are in Japan but many of our young households here are now coming out with massive amounts of student loan debt.
The type of project or projects that are funded by a bond affects the taxability of income received on the bonds. Interest earnings on bonds that fund projects that are constructed for the public good are generally exempt from federal income taxes, while interest earnings on bonds issued to fund projects partly or wholly benefiting only private parties, sometimes referred to as private activity bonds or PABs, may be subject to federal income tax. However, qualified private activity bonds, whether issued by a governmental unit or private entity, are exempt from federal taxes because the bonds are financing services or facilities that, while meeting the private activity tests, are needed by a government. See a list of those projects in Section 141 of the IRS Code.
If you believe that there will be a significant change in global economic paradigms over the next 10 years, consider this book as part of developing an applicable investment strategy. Basically the author is focusing on commodities as they will do well in an inflationary period and, reading between the lines, commodities never go to zero (unless one is so leveraged up that one is forced to sell when commodities sell). Fortunately for us small investors the author does provide a road map to utilize his strategy by way of ETFs. With the government rolling the printing presses to shore up and stimulate our economy, inflation will result. This book examines the issues with inflation and how to invest in response.
I think the bottom line is that the hot market is Trump Bashing stories. Pursuing a story that might vindicate him or show him to be the victim of an abusive Obama Administration would bring down the thunder of the entire Left and it would mean basically having to admit that they’ve been butt kissing enablers for the past 2 presidential terms, and that their defenses of Obama and Hillary were really just the soft bigotry of lowered expectations because they were so focused on ‘first woman’ and ‘first black man’ without bothering to listen to what either of them actually said. The cognitive dissonance would then cause the entire left side of the political spectrum of the US to collapse under it’s own weight. Think Inception.
Economic cracks big enough to drive a car industry into are opening up all over the globe. Trade gaps are opening up between major allies. Widening spreads between the dollar and other currencies are shredding emerging markets. As we start into summer, these cracks and several others described below have become big enough to get everyone’s attention, just as I said last year would become the situation.
I’m chronically, sometimes profitably, but certainly very nearly continuously, well-disposed to the legacy monetary asset. I think that so many arrows point to it in the present day. I think it will become the beneficiary of – I’m talking about gold now – gold will become the beneficiary of so many trends. From the tinkering and the unprecedented experimentation of our central bankers’ fiscal profligacy – I’m starting to sound moralistic –
Arnott is founder, chairman and CEO of Research Affiliates LLC, an investment advisory firm. Dubbed the "godfather" of smart beta investing, per Money, he also is a portfolio manager for PIMCO. In 2007, Arnott foresaw the coming recession that would become known as the Great Recession, the biggest downturn since the Great Depression of the 1930s. Arnott says stocks are simply too expensive and that there is no reason for longterm investors to be optimistic.  "In the United States, there's not enough fear...One bad thing could cause a downturn...The market is just too expensive...At any point it might roll over and die," Money quotes him as saying.
This article will focus on the top four precious metals, gold, silver, platinum, and palladium.  Even though Rhodium and other metals are considered precious, the ones listed above take the lion’s share of the investment market.  Furthermore, while platinum and palladium are purchased as investments, they have a much larger industrial component than gold or silver. Read More
6) Dangerous Monetary Policy. Ding, ding, ding. We have a winner, ladies and gentlemen. The current trajectory of monetary policy depicts either a complete lack of understanding at the FOMC of the current environment, or the overt intent to purposefully slow economic growth. I am honestly perplexed by the inability to learn, reason and adapt at this level.

Russiagate originated in a conspiracy between the military/security complex, the Clinton-controlled Democratic National Committee, and the liberal/progressive/left. The goal of the military/security complex is to protect its out-sized budget and power by preventing President Trump from normalizing relations with Russia. Hillary and the DNC want to explain away their election loss by blaming a Trump/Putin conspiracy to steal the election. The liberal/progressive/left want Trump driven from office. 
I think the bottom line is that the hot market is Trump Bashing stories. Pursuing a story that might vindicate him or show him to be the victim of an abusive Obama Administration would bring down the thunder of the entire Left and it would mean basically having to admit that they’ve been butt kissing enablers for the past 2 presidential terms, and that their defenses of Obama and Hillary were really just the soft bigotry of lowered expectations because they were so focused on ‘first woman’ and ‘first black man’ without bothering to listen to what either of them actually said. The cognitive dissonance would then cause the entire left side of the political spectrum of the US to collapse under it’s own weight. Think Inception.
A bear market rally is when the stock market posts gains for days or even weeks. It can easily trick many investors into thinking the stock market trend has reversed, and a new bull market has begun. But nothing in nature or the stock market moves in a straight line. Even with a normal bear market, there will be days or months when the trend is upward. But until it moves up 20 percent or more, it is still in a bear market.
The secret battle for the planet earth is entering a critical phase over the coming weeks, especially in the realm of finance, where an epic three-way battle is raging, multiple sources agree.  In this battle, cryptocurrencies and the Chinese yuan are fighting each other, as well as fighting to replace the current privately-owned Western central bank petrodollar, Euro, and Japanese yen-based system.

Historically, municipal debt predates corporate debt by several centuries—the early Renaissance Italian city-states borrowed money from major banking families. Borrowing by American cities dates to the nineteenth century, and records of U.S. municipal bonds indicate use around the early 1800s. Officially the first recorded municipal bond was a general obligation bond issued by the City of New York for a canal in 1812. During the 1840s, many U.S. cities were in debt, and by 1843 cities had roughly $25 million in outstanding debt. In the ensuing decades, rapid urban development demonstrated a correspondingly explosive growth in municipal debt. The debt was used to finance both urban improvements and a growing system of free public education.
This book will make self investors think about how to allocate their own investments. Markets have really fallen apart since the book went to press. Of course commodity sectors, international and emerging markets have fallen as much or further and the dollar has risen. I think Peter Schiff's analysis deserves a lot of merit and the selloffs in the overbought commodities and emerging markets areas gives investors a great opportunity to reanalyze their own portfolios. Great read!
In our regular gold trading alerts, we focus on the short- and medium-term outlook and we rarely discuss the very long-term issues or price targets. The reason is simple – the long-term issues and price targets don’t change often, so usually there’s little new to say about them. Consequently, it’s been a long time since we last discussed our view on gold’s explosive upside potential. In fact, it’s been so long that those who do not take the time to read our analyses thoroughly and those who have been reading them for only a short while may think that we are bearish on gold in the long run. Or that we’re perma-bears. Naturally, it’s nonsense and those who have been diligently following our articles know it. What we’re aiming for is to help investors position themselves to make the most of the upcoming rally in the precious metals market and one of the best ways to do it is to help people prepare for the final bottom in gold. Read More

Falling consumer confidence. This is generally one of the last dominoes to drop leading up to a bear market, partly because people are too stubborn to think any economic party could possibly end, and partly because they don’t have the data or the skill to analyze what’s going on behind the scenes. In other words — consumers are usually “the last ones to see it coming.”
No, it is invariably the bears who are blamed for the post-bubble crises and are the main objects of anti- speculative legislation. Yet during the bubble periods it is the bears who are generally the lone voice of reason, warning people of the folly of investing in overpriced markets. In the aftermath of a bubble, they continue their forensic work of exposing unsound securities and bringing prices back in line with intrinsic values, a point which must be reached before the recovery can start.

The term dead cat bounce is market lingo for a "recovery" after markets decline due to fundamental reversals. Markets tend to bounce back after sharp declines as participants (human and digital) who have been trained to "buy the dips" once again buy the decline, and the financial media rushes to reassure everyone that nothing has actually changed, everything is still peachy-keen wonderfulness.


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Arnott is founder, chairman and CEO of Research Affiliates LLC, an investment advisory firm. Dubbed the "godfather" of smart beta investing, per Money, he also is a portfolio manager for PIMCO. In 2007, Arnott foresaw the coming recession that would become known as the Great Recession, the biggest downturn since the Great Depression of the 1930s. Arnott says stocks are simply too expensive and that there is no reason for longterm investors to be optimistic.  "In the United States, there's not enough fear...One bad thing could cause a downturn...The market is just too expensive...At any point it might roll over and die," Money quotes him as saying.
Appeal Case – “Given my status at the time, I felt completely lost and was afraid to make the wrong move given the risks. I wanted guidance and wasn’t completely sure who to turn to.  I exchanged emails with Mr Kuhner then moved forward with his coaching service. My entire situation was nerve-wracking, and I did not feel I was prepared to handle it on my own. Now, I feel great that my problem is resolved.  And even better that I have gained knowledge, I did not previously know or fully understand. It was also a pleasure working with Mr Kuhner (Coach-for-College), who was nothing but professional in assisting me.”  – Dorothy D. – New Jersey [Appeal Award $3,000]
A lot of people are shocked by how rapidly things are beginning to move.  The U.S. economy is slowing down at a pace that we haven’t seen since the last recession, and this is something that I have been tracking extensively.  But now the slowdown is so obvious that even some of the biggest names in the mainstream media are talking about it.  For example, just take a look at what Jim Cramer of CNBC is saying.  For a long time, he was touting how well the U.S. economy was doing, but now his tune has completely changed.  According to Cramer, a lot of corporate executives have “told me about how quickly things have cooled”, and he says that many of them are shocked because this “wasn’t supposed to occur so soon”… Read More
The pattern of boom and bust has continued in the post- war years. Inevitably the bears have been blamed during every major downturn…Japanese authorities complain[ed] that mysterious foreign interests were responsible for the decline in their stock market, following the great boom of the bubble economy. (In 1998, the Japanese imposed restrictions on short-selling in an attempt to shore up their market).

Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, municipal advisors gained an increasingly important role in overseeing financial and legal circumstances surrounding the issuance of bonds.[14] The municipal advisor serves as a fiduciary for the municipal issue, taking care of all of the assets and finances involved in the issuance process. Legally, the advisor is obligated to represent the interests of the issuer and serve as a source of financial advice. This entails offering advice on structuring, selling, and promoting bonds, as well as serving as the central liaison between other members of the financial team, especially the underwriters and credit rating agency. Although municipal financial advisory services have existed for many years, municipal advisors have played a key role in the bond issuance process since the Securities and Exchange Commission enacted the Municipal Advisor rule in 2014, which prohibits certain communications between issuers and broker-dealers unless one of four exceptions is met, one being that the issuer has retained an Independent Registered Municipal Advisor ("IRMA").[12]
As the blame game over the alleged chemical attack in Syria escalates ahead of what is expected to be an imminent, if contained, air strike campaign by the US, UK and/or France against Syria, on Friday morning, Russia’s foreign minister Sergey Lavrov said Moscow had “irrefutable evidence” that the attack – which allegedly killed more than 40 people in an April 7 chemical weapons strike on the former rebel outpost of Douma  -was staged with the help of a foreign secret service.
I forget now exactly what the size of the interest expense of the public debt is, about $400 billion. The government is paying 2.2 or something on its debt. Doubling of yields to 4-something and doubling of gross interest expense to $800 billion or so would certainly be an inconvenience. It would require very painful political choices. But, no, it is not impossible.
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