What we have is a crisis in confidence. It’s not such a small world anymore. When countries retreat, look inward instead of outward, tension builds, and fingers are pointed. Look at what’s going on at home in the U.S., for example. The big blue blob cities continue operating as usual as unsustainable deficits and pension obligations build. Look at the stark differences on the state level between California and my favored red states, like Florida, by example. They’re night and day. The same is happening in the Eurozone. Over the last eight years, what I’ve witnessed personally is a major … [Read more...]
June Is Retirement Compounders Month
I designed the Retirement Compounders (RCs) using the dividend and interest model explained in Ben Graham's books while still a student at Babson College. The RCs went on to form the basis of my two decades long Young's World Money Forecast and Richard C. Young's Intelligence Report. Using my research, I spoke around the country at investment management conferences. In 1978, in Newport, RI, I started what became the award-winning Richard C. Young & Co. Ltd. (Barron’s (2012-2022) and CNBC (2019-2022) Disclosure). My son Matt has now run our family business for nearly three decades, and … [Read more...]
What Is a Fiduciary Duty? Are You Working with a Fiduciary?
Are you working with a fiduciary? What is a fiduciary? If you aren't sure your advisor is a fiduciary by law, you should find out. It can make a difference in what happens in your portfolio. In his 2009 article "The Fiduciary Principle: No Man Can Serve Two Masters," the founder of The Vanguard Group, John (Jack) Bogle, explained the fiduciary duty as follows: The concept of fiduciary duty has a long history, going back more or less eight centuries under English common law. Fiduciary duty is essentially a legal relationship of confidence or trust between two or more parties, most commonly a … [Read more...]
FOOD CRISIS? Ukraine Says Russia Is Blocking Grain Exports
Is a food crisis coming for countries reliant on Ukrainian grain exports? The country's government says that despite a grain export deal, Russia is blocking shipments of grain from Ukrainian ports in the Black Sea. Pavel Polityuk reports for Reuters: Ukraine’s ministry of renovation and infrastructure said on Thursday the U.N.-brokered Black Sea grain export deal had been halted again because Russia had blocked registration of ships to all Ukrainian ports. A U.N. spokesman said Russia had informed officials overseeing the initiative that Moscow would limit registrations to the port of … [Read more...]
Delivery Robots Coming to More Cities with Uber Eats
Uber Eats is partnering with Serve Robotics to expand its use of delivery robots from 100 in Los Angeles to 2,000 in cities throughout the U.S. and Canada. SupplyChainDive's Max Garland reports: The expansion of Uber and Serve’s partnership is a big step towards mass commercialization of autonomous delivery via robots, according to Kashani. Scale will be critical to the long-term success of companies in the space, helping them boost their volumes while tapping into efficiencies. Delivery bot executives say funding has been harder to come by than in years past, which has complicated … [Read more...]
Western Sanctions on Russia Have Strengthened Its Ties to India, China
Exports of Russian crude oil that had traditionally been bound for European or American shores are now finding destinations in India and China as the Asian mega-countries eagerly lap up the energy necessary to feed their growing economies. Muyu Xu reports in Reuters: Russian crude oil imports by China and India in May hit an all-time high as buyers gorged on discounted supplies, reducing demand for oil from the Middle East and Africa, according to preliminary assessments from ship trackers. The jump in Russian supplies comes ahead of a meeting between the Organization of the Petroleum … [Read more...]
Birth Rates in France Worst Since Post-WWII Era
You know Your Survival Guy is worried about Italy's low birth rates. But just as worrying is France, which is witnessing its lowest birthrates since just after WWII. Can you imagine? Fertility rates in France have fallen to 1.8. Hélène de Lauzun reports in The European Conservative: After Spain and Italy, it is now France’s turn to publish alarming figures on the state of its birth rate. According to the national statistics agency, INSEE, the year 2023 will be particularly “weak” for births. In the first quarter, France recorded 7% fewer births than in 2020, before the pandemic—the lowest … [Read more...]
A Cashless Society Is A Debacle for Americans
UPDATE 3.21.23: Florida Governor Ron DeSantis has proposed a law banning the use of central bank digital currencies in the state of Florida. CoinDesk's Stephen Alpher reports: A legislative proposal from Florida Gov. (and possible Republican U.S. presidential candidate) Ron DeSantis would prohibit the use of a national central bank digital currency (CBDC) as money within his state. "Today’s announcement will protect Florida consumers and businesses from the reckless adoption of a 'centralized digital dollar' which will stifle innovation and promote government-sanctioned … [Read more...]
Democracy: The Most Dangerous and Insidious Effect of Majority Rule.
UPDATE: 4.20.23: As Joe Biden and Democrats call for more infringements on the Second Amendment, local officials are showing their commitment to protecting the Constitution from federal overreach. Jennifer Eberbach reports in the Livingston Daily that officials in Livingston County, Michigan, are not going to enforce unconstitutional restrictions on citizens' right to bear arms. She writes: A subcommittee of the Livingston County Board of Commissioners has forwarded a resolution reaffirming its stance on Second Amendment protections, encouraging the county sheriff and prosecutor not to … [Read more...]
What’s the Alternative to China for Manufacturers?
For decades now China has been the obvious choice for manufacturers looking for cheap labor. Now, reports John Keilman in The Wall Street Journal, manufacturers are looking elsewhere. He writes: Fears of military conflict and increasing security worries have some U.S. manufacturers re-evaluating their reliance on China. Executives are plotting alternate supply chains or devising products that can be made elsewhere should China’s hundreds of thousands of factories become inaccessible. That prospect became more conceivable, they said, after the 2022 invasion of Ukraine prompted companies to … [Read more...]
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