Wouldn’t it be nice if you could live life in reverse? Imagine you’re born with a lifetime of savings and your entire life in front of you. Sounds kinda nice, doesn’t it? But I think after a couple of years—OK, maybe five or ten—you’d get bored. You wouldn’t have a reason to get out of bed. You wouldn’t have purpose. You’d simply be spending down your money. Reverse compounding is no way to live. Stick with me. Click here to sign up for my free monthly Survive & Thrive letter, and we'll weather this storm together.  Now, compounding from a young age is a lifestyle. You have … [Read more...]

Costs are going up for insurers, and profits are declining. The question is, will they be able to meet their commitments in this time of inflation? Leslie Scism reports on insurance companies' troubled businesses, writing in The Wall Street Journal: Big car, home and business insurer Travelers Cos. posted a 41% decline in second-quarter net income, as inflation has continued to drive up costs, including to repair and replace automobiles and pay for medical care of injured people. Allstate Corp., meanwhile, said inflation would worsen its coming second-quarter quarter results, in a … [Read more...]

America's farmers and truckers are the backbone of the nation's food supply system, and without them, the country would starve. Two years of Biden's war on energy producers have pushed prices for their most important input—diesel fuel—to heights unseen in history. Breitbart's Simon Kent reports that if prices don't fall faster, truckers may decline jobs that lose them money, and the effects on farmers will hurt consumers as well. He writes: Unless prices ease, the ripple effects of high diesel fuel could worsen because the costs are deterring some truck companies from accepting jobs … [Read more...]

You know politicians are always crying about not having enough money to do what they want to do. And by money, of course, they mean your money. But it's not revenues that are the problem for government spenders. Revenues are actually at all-time highs. In the first nine months of 2022, the government taxed its way to $3,835,390,000,000 in revenues. That's a record haul. CNS News reports: The federal government hauled in a record $3,835,390,000,000 in total taxes in the first nine months of fiscal 2022 (October through June), according to the Monthly Treasury Statement. That was up … [Read more...]

You might want to take it from me, Your Survival Guy, and visit Newport this year or next. The city by the sea is buzzin’. I told you recently we have a long-time family friend staying with us before she heads off to Nantucket. I also told you that some clients from Colorado who are renting on the Cape, came to visit last week. And on Sunday, while picking up our food from Pasta Beach, I ran into clients in town for a birthday gala the night before who were sticking around for our real pleasant Monday morning meeting. It’s a great time to be in Newport. On Sunday, the French-born, … [Read more...]

How we doing? Are you getting anxious about where the summer’s gone? Don’t worry. There’s plenty of time to do what you want to do. A close family friend is staying with us before heading out to Nantucket for a few days. The weather’s been gorgeous in Newport, RI. Not Tuesday, though, where the wind was howlin’ to the point the sailboat races were canceled. That never happens because of wind. FOOD SHORTAGE: Crazed Hoarding Is not Preparing How can we survive in times like these? That’s on my mind this morning. My simple solution is to just keep moving forward. You don’t need to save … [Read more...]

In many ways, the economy seems to be doing fine, but there's a subtle undercurrent most Americans can feel that tells them everything is not all right. A recent study by the New York Federal Reserve picked through the data and uncovered some uncomfortable news for the Biden administration. Americans are not happy. Over half of the participants in the study felt that their financial situation was worse than the year before. That was just one of the many frightening data points uncovered. Here's a brief list of some disturbing facts the Fed uncovered about how Americans feel about their … [Read more...]

The story of the collapse of the Three Arrows cryptocurrency hedge fund meltdown is getting weirder by the day. You read here that in June, Three Arrows revealed it was nearly insolvent. Now, as creditors come knocking, the founders of the fund are missing. Fortune's Taylor Locke reports: In a crypto tale as old as time, the founders of a failed crypto hedge fund can’t be located. According to the liquidators for Three Arrows Capital—a fund whose sudden insolvency has spread fear and contagion across the crypto realm—the whereabouts of Su Zhu and Kyle Davies are unknown. “We don’t … [Read more...]