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America’s “Helicopter Parent”…

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The decay of America’s middle class has been well documented and many commentators have explored the causes. This decay isn’t random; the income of the middle class isn’t going to suddenly increase at 15 times the growth rate of the income of the top 0.1%. The income of the top ...

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Here’s When the Bull Market Ends…

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The good news: this bull market will run for months and months. The bad news: stock gains will be lean. The lion has already taken his bites. This is the studied conclusion of crack financial journalist Mark Hulbert. He has ransacked market history and interrogated the data. Stock market rhythms ...

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Back to the 1970s…

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After a multi-month correction in gold, fear and frustration are apparent among gold investors. But today, I’d like to present a case for sticking with gold. Here it is in a nutshell: As long as politicians spend wildly and the Fed keeps monetary policy loose, the case for gold will ...

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Final Nail in the Coffin…

This post Final Nail in the Coffin appeared first on Daily Reckoning. The stock market was down today, but it’s still trading at record highs. The mainstream financial media will tell you it’s because the market is anticipating a robust recovery as the economy continues to reopen and vaccination numbers ...

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Cultural Revolution in America?…

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There is a whiff of unease in the air. Beneath the cheery veneer of free money for almost everyone, growing inequality and polarization are rapidly consuming what’s left of common ground in America. Though there are many systemic differences between China and the U.S., humans in every nation are all ...

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MMT Is a Disaster Waiting to Happen…

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MMT is the most potentially damaging economic doctrine I have ever encountered, with the exception of communism. Let’s begin with the idea that the Fed and Treasury should be merged in practice so that the Fed will monetize any amount of spending or borrowing the Treasury wants. The reason markets ...

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Stimulus: Band-Aid on a Tumor…

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If we misdiagnose the disease, our treatment won’t work. We’re all familiar with medical misdiagnoses, which lead to procedures and prescriptions that can’t possibly fix the patient’s illness because the source has been missed or misinterpreted. Medical diagnoses are often tricky, as many general symptoms can arise from a variety ...

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“I Don’t Know What the Blank I’m Doing”…

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“I don’t know what the [expletive] I’m doing.” Here you have the confession of a stock trader. A stock trader with three days’ experience. “I just know I’m making money,” — perhaps $300 per day, he gloated. Analyst Jason Zweig best tells this fellow’s tale: You could have made good ...

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Reagan Was Right…

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Mr. Brian Deese, reigning National Economic Council Director: “Government must be a powerful force for good in the lives of Americans.” Mr. Ron Reagan, 40th United States president: “The nine most terrifying words in the English language are: I’m from the Government, and I’m here to help.” Today we bolt ...

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An Old Man in a Hurry…

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Mr. Biden is an old man in a hurry… There he is… atop his galloping steed, whip in his hand, glory in his eyes — and history on his mind. Axios: President Biden recently held an undisclosed East Room session with historians that included discussion of how big is too ...

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