Business is a cyclical phenomenon. The ups and downs of the business cycle serve to raise men and women up to the peak of prosperity, but also to destroy wealth in shocking fashion. Federal policies play a major part in the duration and regularity of these cycles. As you can see on the chart below of America's Business Booms and Depressions from 1775 to 1944, many of the business booms and busts have labels attached to them. Some were created by wars, embargoes, trust building and busting, monetary policy, etc. It's interesting to notice that the longest period of prosperity (green blocks) was … [Read more...]
If You’re Going to Drive Through Hell, Be Prepared
I recently told you the story of a client of mine who had to drive into what he called "gun hell," aka Massachusetts, without his favorite handgun. Because the trip's final destination was Massachusetts, and he couldn't concealed carry in that state, my client had to forgo his personal security throughout the entire trip from Arizona. If you are a firearm owner and you want to find the best resource for the rules of carrying your gun in each state, I advise picking up a copy of the 2019 Traveler's Guide to the Firearm Laws of the Fifty States. Here are some sample pages I use regularly. … [Read more...]
A Wolf of Wall Street in Sheep’s Clothing?
The SEC has completed its new regulation on best interests, and will begin enforcing it in one year. The rule increases the level of disclosures brokers must make, but it should not be confused with the more stringent fiduciary rules registered investment advisors are held to. In my opinion, if you're looking for financial advice that may be free of some of the conflicts of interest that may be associated with brokers, you need to find a registered investment advisor held to a fiduciary standard. The Wall Street Journal's Dave Michaels explains the new rule here: The SEC said the new rule, … [Read more...]
Small Towns vs. Big Business?
Small towns in America are often blessed with vast natural resources. When big businesses come into town to utilize those resources, it can be a boon to residents looking for good paying jobs, but it can also have surprising effects on the town. In The Wall Street Journal, Scott Patterson details the story of a major string cheese operation coming to the small Upstate New York town of Lowville. He writes: When the Philadelphia Cream Cheese factory here started making string cheese, too, in the summer of 2017, it brought scores of new jobs to town. It also boosted the facility’s water usage … [Read more...]
Barack’s Brazil Baloney: Part II
Yesterday I detailed the lies former President Barack Obama told Brazilians about American gun laws recently. As you may have already known, this isn't Obama's first use of untruths to push his radical anti-Second Amendment agenda. Here's a clip from the Daily Signal in which the then-president Obama spouts a number of lies about guns in America, including some of the same ones he made in Brazil recently. Watch the clip below. Read Barack’s Brazil Baloney. … [Read more...]
Healthcare Could Cost You Your Retirement: Part II
Yesterday I explained to you how even frugal retirees can have their savings sunk when unexpected health care costs arise. Running out of money in retirement is not something anyone wants. Many Americans end up working through what should be their retirement years because they failed to plan properly. If you want to better formulate a plan that includes provisions for health care costs in retirement, read through this guide from Fidelity. If you are like most Americans, health care is expected to be one of your largest expenses in retirement, after housing and transportation costs. But unlike … [Read more...]
Barack’s Brazil Baloney
In 1947 Winston Churchill told the House of Commons that “…when I am abroad I always make it a rule never to criticise or attack the Government of my own country. I make up for lost time when I come home. But when I am abroad and speaking to foreigners I have even defended our present Socialist rulers, and always I have spoken with confidence of the future destiny of our country. Here at home we must do our duty, point out the dangers, and endeavour so to guide the nation as to avoid an overwhelming collapse. But I have no patience with Englishmen who use the hospitality of a friendly nation … [Read more...]
Healthcare Could Cost You Your Retirement
Americans tend to work hard their entire lives, saving pennies and dimes wherever they can to build a retirement nest egg. When they finally do retire, Americans are generally frugal, with retired couples having just an 80% spending-to-income ratio on average, according to research just released from the Employee Benefit Research Institute (EBRI). Where things go bad for retirees though, is usually when healthcare costs rise. According to Rebecca Moore at PLANSPONSOR: EBRI found housing expenses were by far the largest item in all groups’ budgets. For the average single retired household, … [Read more...]
Big Banks Buy into Blockchain
UBS and a number of other big banks around the world are working together to develop a cross border trade settlement platform that uses blockchain technology. I've been skeptical of bitcoin and other crypto-currencies, but I have always maintained that blockchain technologies would prove the most valuable part of the crypto-currency revolution. Paul Vigna reports at The Wall Street Journal on this latest effort: A group of financial firms led by UBS Group AG UBS -0.70% plans to start using a bitcoin-like token to settle cross-border trades, one of the biggest developments yet in the effort to … [Read more...]
More Gun Control Equals More Crime in Colorado
On NRATV's show Cam & Co., host Cam Edwards explains the failure of Colorado's expansion of gun control under Governor John Hickenlooper. Edwards notes that Hickenlooper and other gun control advocates like Sen. Cory Booker are running for president. Despite the evidence that these gun control measures do nothing, the radicals in the Democrat Party seem bent on enacting them to punish law abiding gun owners. Anyone with the ability to do so should get their guns and their training now. … [Read more...]
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