Sen. Rand Paul: People in a Free Country Should Be Able to Decide What Insurance They Want

from SenatorRandPaul

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Yes, the Fed Really is Holding Down Interest Rates

by Joseph T. Salerno

The very sluggish recovery of the economy since the financial crisis — despite zero and near zero interest rates — presents the dominant school of New Keynesian macroeconomists with a conundrum. Many have attempted to resolve the riddle by arguing that such unprecedentedly low interest rates are not the doing of the Fed and therefore do not indicate an expansionary monetary policy. Although not formally a New Keynesian, George Selgin has taken up and vigorously defended this position. According to Selgin, the view that interest rates have been “held down” by “the Fed’s easy money policies” is based on a “myth.” “The unvarnished truth,” according to Selgin, “is that interest rates have been low since the last months of 2008, not because the Fed has deliberately kept them so, but in large part owing to its misguided attempt, back in 2008, to keep them from falling in the first place.” Indeed, in Selgin’s view, the Fed’s monetary policy actually has been “too tight” since 2008.

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Don’t Miss The Platinum And Palladium Opportunities – Chris Blasi Interview

from CrushTheStreet

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Worst Crash In Our Lifetime Coming – Jim Rogers

by Mark O’Byrne

Worst Crash In Our Lifetime Is Coming – Jim Rogers

Legendary investor Jim Rogers sat down with Business Insider CEO Henry Blodget on this week’s episode of “The Bottom Line.”

Rogers predicts a market crash “later this year or next …. write it down.” Rogers say the crash will rival anything he has seen in his lifetime.

[…] Here is a transcript of the Business Insider video:

Blodget: One of the things I’ve always admired about you as an investor is that you don’t talk about what should be. You figure out what is going to be and then you do that. So what is going to be with respect to the stock market? What’s going to happen?

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The Big Tent of Liberalism

from Learn Liberty

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This is What a Bubble Looks Like: Japan 1989 Edition

by Urban Carmel
Financial Sense

Summary: Take the US tech bubble of the 1990s, add the subsequent real estate bubble of the 2000s, multiply by two, and you have a good approximation of the events leading to Japan’s stock market crash in 1990.

The Nikkei stock index rose more than 900% in the 15 years before it finally topped. It was a frenzy powered by a belief that Japan Inc. was on its way to taking over nearly every major industry worldwide. The stock market bubble was further fueled by a massive real estate bubble at least twice the size of the one the US experienced in the 2000s. Tokyo alone became more valuable than all the land in the US. In short, it was the product of a tsunami of monumental and concurrent events that are unlike anything present in the US today.

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Phil Donahue’s Insane New Theory Why Trump Became President

from Mark Dice

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What I Heard from a Banker at a Private Resort

by Zach Scheidt
Daily Reckoning

“It’s been a great summer so far!” said Dan as we watched our kids slide down the water slide last week. Dan and I had just met after our kids struck up a friendship by the pool.

“My clients’ schedules have been light, which gives me a chance to fly around the country and meet with them. And with the market hitting new highs, it’s easy to convince them to put more money in their accounts.”

“Aren’t you worried that they’ll invest too much now, and get hurt by a market pullback?” I asked him.

“Well, as long as my commission checks keep rolling in, I’m not worried about anything! Am I right??” Dan laughed as his 7-year-old emerged at the bottom of the slide and splashed into the resort pool.

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Dear Abby

by Jeff Thomas
International Man

“I joined the Navy to see the world. I’ve seen it. Now how do I get out?”

Readers will most likely be familiar with “Dear Abby,” the American advice column that has been popular since its inception in 1956. The above question was sent to her in 1981 but may be even more relevant today.

It will be no secret to readers of this publication that some of the formally most-prominent, most-free jurisdictions in the world are now in a state of serious decline and face economic, social, and possibly political collapse. Although their level of influence is still close to their all-time high, they’re each at a precipice from which they may soon fall.

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Is Someone Worried About Consequences?

by Karl Denninger

C’mon Marc, cut the crap.

Over the past decade, health care delivery has deteriorated – under the watchful eye of insurers and legislators – to the point where it can no longer be managed effectively or efficiently without enormous staffs who spend their days negotiating on behalf of patients while working for doctors and hospitals. Insurance premiums have skyrocketed while reimbursements to doctors have decreased.

Well, gee, let’s think about this for a minute.

Who has cheered this on and allowed it?


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Is the Stock Market Making a Major Top?

by Graham Summers
Gold Seek

The market has been sending “topping” signals for weeks now.

They include:

1) Fewer and fewer companies participating in the rally.
2) High yield credit, which leads stocks, rolling over.
3) Weakening momentum.
4) Dwindling volume.
5) Market leaders (the big 5 Tech) beginning to correct.

Now the big move is coming. The S&P 500 is completing a massive bearish rising wedge formation.

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Revenge: Watch as Programmer Floods IRS Phone Scam Hotline with Thousands of Calls

by Mac Slavo

You’ve no doubt received calls from luxury vacation hotlines, an Internal Revenue Service representative seeking money, and perhaps even gotten an email or two from a twice-removed, long-lost cousin who happens to be a Nigerian prince looking to park money in your bank account.

With advancements in technology, scammers these days have been successful in separating their targets from millions of dollars by targeting thousands upon thousands of victims daily.

One programmer decided enough is enough and found a novel way to fight back.

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