OK, a major Wall Street firm came out recently and predicted a fifteen percent correction in the market. What should you do? Well, as Your Survival Guy, I continue to stick with my investing plan regardless of what Wall Street predicts. As you know, predictions are cheap. Why? Because more often than not, these predictions are reversed when their crystal balls turn out to be not so crystal clear. So what’s the point? The point of the predictions is to instill fear. Nothing gets the phone ringing like the prediction of a market correction, especially one of this magnitude. Ring, ring, ring … [Read more...]
Shortages Plague Biden Economy: “NOW THE NORM”
You probably never imagined an America where shortages are "now the norm." But that's exactly how the Biden-economy is being described by Reuters. Howard Schneider and Timothy Aeppel report for Reuters: Shortages of metals, plastics, wood and even liquor bottles are now the norm. The upshot is a world where buyers must wait for delivery of items that were once plentiful, if they can get them at all. [Lauren] Rash [owner of Diamond Brand tent manufacturer] has piles of tents she can’t ship because she can’t get the right aluminum tubing for their frames, for instance, while others lack the … [Read more...]
I Can’t Believe I’m Agreeing with George Soros, Here’s Why: Part II
You know I'm no fan of George Soros, (especially since he gave $1 million to reelect Gavin Newsom) but when it comes to BlackRock and their meddling in China, he has a point. In a recent op-ed, Soros points out the hypocrisy in BlackRock's promotion of ESG funds here in the United States, and its foray into Chinese investing. He wrote: BlackRock takes its responsibilities for its clients’ money seriously and is a leader in the environmental, social and governance movement. But it appears to misunderstand President Xi Jinping’s China. The firm seems to have taken the statements of Mr. … [Read more...]
Your Retirement Life: Snowbirds Can’t Wait to Get Back to Florida, Texas
After spending a winter in their northern homes, retirees who normally head south for the winter, known as Snow Birds, can't wait to get back into the sunshine. Clare Ansberry reports for The Wall Street Journal: A growing number of people, many now vaccinated, expect to head south for the winter despite the Delta variant spread. About 90% of the estimated 1 million snowbirds who travel annually from Canada, say they will head for warmer areas compared with 30% last year, assuming the land border reopens to nonessential travel later this month. Land border restrictions remain in place through … [Read more...]
Work Hard in NY and CA? Prepare to PAY Under Democrats’ New Tax Plan
Are you one of your state's most productive citizens? Do you already pay hundreds of thousands, or even millions in taxes to state and federal governments each year? Your hard work is appreciated by House Democrats, who are happy to relieve you of even more of your money. Democrats have released a tax plan aimed at paying for their planned $3.5 trillion spending bonanza, and it takes direct aim at high-income Americans. Here's a brief of the plan from Robert Frank of CNBC: The proposals include a 3% surtax on taxpayers earning more than $5 million a year. They would also raise the top … [Read more...]
I Can’t Believe I’m Agreeing with George Soros, Here’s Why
I can’t believe I’m agreeing with George Soros of all people, but what he writes here is correct (except for the part about ESG investing). What’s incredible to me is George Soros has spent the last years of his life fighting tooth and nail against America. Why the change of heart? Perhaps he’s got some money stuck in China? BlackRock, the world’s largest asset manager, has begun a major initiative in China. On Aug. 30 it launched a set of mutual funds and other investment products for Chinese consumers. The New York-based firm is the first foreign-owned company allowed to do so. The launch … [Read more...]
AMERICA DOESN’T RUN ON TOFU: Unhinged Biden Advisor Deflects Inflation Failure
It's hard to imagine how the Biden administration, with a straight face, can blame the meatpacking industry for inflation, while at the same time handing out checks like candy, and supporting the Federal Reserve's policy of nearly unlimited liquidity. But it's happening. Rather than take responsibility for driving up the prices on Americans' favored forms of protein, Biden & Co. are instead choosing to blame businesses. In what may have been one of the most tone-deaf speeches ever, Biden's Director of the National Economic Council Brian Deese told Americans that if you remove beef, … [Read more...]
September 2021 Update: Fidelity Still Number One
In my conversations with you, you ask me why we use Fidelity Investments as our custodian for client accounts. As you know, we have a long history with Fidelity going back to when Dick Young called on the firm during his Boston days, well before he started Richard C. Young’s Intelligence Report. As Dick tells the story, Fidelity was always the high-water mark, along with Wellington Management, especially for the institutional business, and clearly was moving strongly into retail. Fidelity simply never looked back and continues its dominance today. So, if you’re going to trust your lifetime … [Read more...]
BOOMTOWNS: Americans Flee Mandates for Freedom
As you and I discussed recently, big blue cities are exporting jobs to places like Florida, where their money is treated with respect. Today, let’s talk about Main Street America that’s been forgotten by big businesses that have moved America’s manufacturing base to China. How can this be a good long-term trend? I remember like it was yesterday, studying globalization—“the next big thing.” Now, look at where we are. But attitudes are changing. One thing I noticed from a trip to our log cabin in New Hampshire this summer was, the area in and around the beautiful White Mountains were packed … [Read more...]
Sleepy Joe Pulls 7 Million Americans Off the Couch
As Sleepy Joe reluctantly attempts to pull more than seven million unemployed Americans off the couch, he may want to take a look down his party line to seek out the rot. Because when he drills down into the deep Blue States, especially big blue blob cities, he’ll see years of political largesse finally coming home to roost. Take a look at Newport, RI, for example, where the streets are lined with cars from New York. Woke workers who could afford to work remotely are already here as local restaurants struggle to staff up. For years, politicians treated Newport properties as an endless piggy … [Read more...]
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