Could bitcoin be outlawed? That's what Ray Dalio of Bridgewater Associates believes could happen. Mark DeCambre reports at MarketWatch: Bitcoin is enjoying its moment in the sun now, but the world’s No. 1 digital asset could face major resistance by government’s looking to rein in the decentralized crypto, according to Bridgewater Associates Ray Dalio. “Every country treasures its monopoly on controlling the supply and demand. They don’t want other moneys to be operating or competing, because things can get out of control. So I think that it would be very likely that you will have it under … [Read more...]
Archives for March 2021
Is This State the Next Destination for America’s Liberty Retirees?
You want to build yourself an 'island' in retirement. You want to separate you, and your money, from those who would take it from you. Settling down in one of America's growth corridors is a good first step toward finding the right place in America. But if you want to get a head start on your retirement, and move while you're still working, you probably want to find a state with low, or no income taxes. There are seven states with no personal income taxes, including: Alaska Florida Nevada South Dakota Texas Washington Wyoming New Hampshire doesn't have personal … [Read more...]
The Lies You’ve Been Told About Income Inequality
In The Wall Street Journal, Phil Gramm and John Early explain the lies and misdirections you've been subjected to regarding income inequality. They write: The refrain is all too familiar: Widening income inequality is a fatal flaw in capitalism and an “existential” threat to democracy. From 1967 to 2017, income inequality in the U.S. spiked 21.4%, and everyone from U.S. senators to the pope says it’s an urgent problem. Yet the data upon which claims about income inequality are based are profoundly flawed. We have shown on these pages that Census Bureau income data fail to count two-thirds … [Read more...]
Intel Says It’s “Back With a Vengeance”
Intel's CEO Pat Gelsinger explains the company's plans to address the worldwide chip shortage, and its own recent failures, to The Wall Street Journal. Aaron Tilley reports: Intel Corp.’s INTC +0.38% chief executive is fast-tracking efforts to revive the semiconductor giant with a broad plan that mixes increased outsourcing with a commitment to spend $20 billion on new factories that could help address a chip shortage. New CEO Pat Gelsinger said Tuesday that Intel would rely more heavily on third-party chip-making partners, including for some of its most cutting-edge processors, starting … [Read more...]
Business Isn’t the Enemy, It’s the Answer
You may remember when Ronald Reagan said, “The best social program is a productive job for anyone who’s willing to work.” He was right. If there is anything America has learned from governors going wild and shutting down their states' economies, there's no bailout or stimulus that can provide for Americans as well as their own entrepreneurial spirit can. One place in America where you can see the difference in the performance between government and the private sector is Newark, NJ. For years then-Mayor Cory Booker and other politicians tried to engineer resuscitation efforts for the … [Read more...]
Biden Prepares to Rain Money on Roads to Nowhere
The Biden administration is preparing a proposal for $3 trillion in infrastructure spending. Ken Thomas and Andrew Duehren report in The Wall Street Journal: Administration officials are crafting a plan for a multipart infrastructure and economic package that could cost as much as $3 trillion and fulfill key elements of President Biden’s campaign agenda, according to people involved in the discussions. The first proposal would center on roads, bridges and other infrastructure projects and include many of the climate-change initiatives Mr. Biden outlined in the “Build Back Better” plan he … [Read more...]
Could Biden and Cuomo Kill New York Forever?
You may never see another migration like you saw in 2020. The number of people leaving New York City in 2020 was breathtaking. Between January 1, and December 17, 2020, about 3.57 million mostly wealthy people left New York City. The lost income caused by all those wealthy New Yorkers escaping the city was about $34 billion. That's like New York losing an economy the size of the entire country of Latvia in a single year. People were fleeing New York last year because of the pandemic, and the BLM/Antifa riots that plagued the city and others across the country. But the flow of wealthy … [Read more...]
Why You Should Fear the Fed
The WSJ explains why investors should fear a Fed that has become complacent about inflation. Mr. Powell and his mainstream economic allies assume they can always control inflation by hiking interest rates. That may be true, but it is a lot harder said than done and in almost every case when the Fed has raised rates to prevent inflation it has lead to recession. It has taken four decades, but the Federal Reserve has finally shaken off its fear of inflation. The markets are only just waking up to the implications of the shift. The outlines of the turnaround have been developing for a while … [Read more...]
Should You Be Forced To Save for Retirement?
You know Your Survival Guy is the first one to say that you should save until it hurts. You should save as much as you can for as long as you can and then save a bit more. But, does that mean you should be forced to? A growing cohort in Congress wants to do just that. They want to automatically enroll you in your employer's 401(k) plan. This isn't actually a new plan. It goes back to Obama-era regulatory "czar," Cass Sunstein, who wrote the book Nudge. His philosophy was to take as many decisions away from people as possible, and let the government make the decisions for them. Does … [Read more...]
Sailfish Off Key West
Originally posted on Your Survival Guy. … [Read more...]