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On November 1, 2023, just as the price of gold reached its record high price of $2,000 per troy ounce, I clearly stated my position that $2,000 gold was just the beginning. As usual, my argument was grounded in history. Back in the 1960s and 1970s, US government spending soared thanks to the
You’d think that Elon Musk would be the Left’s superhero. He supported Barrack Obama in 2008 and 2012, Hillary Clinton in 2016, and Joe Biden in 2020. He had previously expressed support for a number of the Left’s policy fantasies, including Universal Basic Income. He founded a company which would become PayPal, helping
My grandfather was born on April 19, 1915 in a dirty, one-room shack in the town of Bonham, Texas. Given the era, they had no electricity and no running water. And the family considered themselves fortunate that both mother and baby survived childbirth. Pretty much everyone in the area was a farm laborer;
It was the dead of night on March 22, 1929 somewhere in the Gulf of Mexico near the port of New Orleans, and the Canadian schooner I’m Alone was waiting to offload its illegal rum. Prohibition had been in effect in the United States for nearly a decade at that point, which meant
It’s been nearly four years since ProPublica, the radical leftist organization masquerading as journalism, published an article called: “The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax.” The publication exposed the private tax records of some of America’s most successful citizens—Elon Musk, Jeff Bezos, Warren Buffett, and
Between press conference bust ups, tariff announcements, peace deals, and cryptocurrency reserve proclamations, it has been a busy month and a half. Despite all this, our global economic outlook remains relatively unchanged: we’re still anticipating a pretty serious bout of inflation around the world, and I’ll explain why. Inflation isn’t hard to understand.
In 2012, Puerto Rico was in the depths of a nearly decade-long recession and looming debt crisis. The island had lost about 10% of its population— mostly young, educated professionals, i.e., the most lucrative members of its tax base. So politicians did something radical: they established incredibly attractive tax incentives in order to
On April 22, 2010, the story broke that dozens of US Securities and Exchange Commission (SEC) employees—including senior officials—had spent hours each day surfing pornography on government computers, some for as much as eight hours a day. An investigation found that 33 employees were involved in the misconduct, with 17 of them earning
On February 27, 2009 the global financial crisis had been raging for five long months. Many of us remember it like it was yesterday. Entire economies were ravaged. Some of the world’s largest businesses failed. Others only survived thanks to unprecedented government bailouts. Unemployment surged. Countless people lost their homes. It was brutal—
On July 1, 1862, with the Civil War still raging across America, US President Abraham Lincoln signed the “Pacific Railroad Act” into law to establish the nation’s first transcontinental railroad. Lincoln felt that the massive infrastructure project would be critical to support the war effort and stabilize the US economy. But he also
In the more than four decades since the Department of Education was created in 1979, it has spent literally TRILLIONS of dollars, presumably to make America’s youth smarter and more competitive. But what’s been the result? Well, just take a look at the National Center for Education Statistics’ (NCES) long-term reading and mathematics
Politicians love creating new programs and agencies. But no one ever bothers to check if they actually work. There’s no accountability, no metrics, no plan—just endless bureaucratic expansion. Take Elizabeth Warren’s pet project, even before she was a Senator— the Consumer Financial Protection Bureau. Warren ensured the CFPB had less oversight than a
Once again, the media missed the real story. The Wall Street Journal and New York Times, among many others, reported that consumer prices, as measured by the Consumer Price Index, rose 3% year-over-year. And everybody seems to accept that story, that annual inflation is now up to 3%. This is a small uptick
And almost on cue, gold is at another all time high today and rapidly closing in on $3,000 per troy ounce. It’s not hard to understand why. We’ve been talking about this for quite some time— foreign governments, central banks, and even some large foreign corporations now are trading their dollars for gold.
In the late 1990s, the Internet was brand new… and sizzling hot. And most people thought it would bring radical change to the world, practically overnight. This is a common theme with disruptive technology. Enthusiasts often overestimate the impact of new technology in the short run, and underestimate its impact in the long