Damaged Credibility At Home And Abroad

As Americans shake their heads in the aftermath of the debt ceiling tug-of-war they find nations around the world doing the same thing. This sentiment was echoed by Pimco’s Mohamed El-Erian who felt the central problem has not been dealt with. What that central issue is varies depending who you talk with. If the discussion is with a conservative/tea party type, the problem is that we are living beyond our means and spending too much money. The remedy for this … Read More »

Market Update October 19, 2013

From the Desk of Craig Griffin. “Is there a real danger that the government won’t raise the debt ceiling? I can’t see that happening, until, raising the debt ceiling doesn’t matter anyway! Yes, I believe there will come a time when raising the debt ceiling won’t make any difference! Why? Because there will come a time when no one will buy our debt (U.S. bonds) any longer! Do we know when that time will be? No, not really but I … Read More »

The Incredible Shrinking Golden Goose

At what point does a shrinking workforce stop sustaining a growing non-working population? While a definitive answer is elusive, those familiar with the problem say that by 2050 there will be 80 million of us in the United States over 65 years of age, or 200% of the present numbers. If one takes into account the disabled who are unable to work and those unwilling to work the problem is worse. If that number sounds big it is thrown into … Read More »

Just What Is A ‘De-Americanized’ World?

In a recent editorial the official Chinese state-run news agency, Xinhua took the U.S. to task for torturing prisoners, using drones to bump off civilians, spying on world leaders and it seems, most importantly, playing havoc with the world economies with its inability to deal with the pesky debt ceiling. There may indeed be many areas that warrant attention by the United States but there may also be other ways to deal with the debt ceiling besides raising it endlessly … Read More »

World Growth Prospects Not So Good Says IMF

The question of how to buy gold coins was never more crucial in our desire for wealth preservation. We are assaulted from all sides with dire news and distressing events regarding the national and even global economy. Even before the International Monetary Fund meets with the World Bank in Washington the IMF has released a statement in which their expectations for the global recovery have been downgraded from its meager prediction of 3.2% economic expansion to to a plodding 2.9%. … Read More »

The Neighborhood Just Got Scarier

Just in time for Halloween the housing market has gained a few new and somewhat frightening characters. May I introduce the “Vampire” and “Zombie” foreclosures. Be careful, try not to get too close, they just might bite. Not even bullets made from Canadian silver maple leaf coins would help you here. You would probably be better off keeping the silver coins. For the uninitiated a “Vampire” foreclosure is one where a property has been taken back by the bank but … Read More »

Default Vexes Postal Service

With all the noise and commotion about funding the government and Obamacare, it would be easy to miss the little story about the difficulty the Post Office is having with their Retiree Health Benefits. The difficulty involves a default to the tune of $5.6 billion in payment for health benefits for retirees. Perhaps the retirees would have done better by investing in gold. It is not as though it has come as a big surprise to anyone. In a report … Read More »

India Temples Wary Of Government Eyeing Their Gold

In a move that has the Indian temples on edge, the Indian central bank has requested detailed information from the richest temples as to the amount of gold stored, etc., and in spite of its interest, claims there is “no proposal under its consideration to convert idle gold into bullion at this juncture.” They were slightly less specific regarding future plans for those with gold jewelry or who like to buy gold coins. The amount of gold in question is … Read More »