"Learn how to prioritize all your debt. And did you know student loan debt is the most dangerous debt any of us can have?"

Learn how to prioritize all your debt. And did you know student loan debt is the most dangerous debt any of us can have?
Read more at: https://www.brainyquote.com/topics/debt

  ~Suze Orman


 
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News and opinion from all over the political universe.  Much of it to be taken with several grains of salt.



Email: Wrisley.com


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   Curmudgeon's        Archive.      

Who Supports Whom?

Magical Money
Posterity's Debt To Me

  Honest Money
From Riches to Rags
Fiddler's Broken Wrist
Jack-lantern Wealth
Chance of Gold Confiscation

 1932
Poobahs of Positivism
IOU-nothing
Blood In the Streets


America Descending
Just Plain Stealing  ?
A thing to fear
Heavenly Sex
What Fools, We Mortals
Unvarnished Truth
Hucksterism Gone WildReligious Violence





































November 18th, 2018

Household debt hit a record high of $13.5 trillion last quarter.

Total household debt is now $837 billion higher than its previous peak, which was in 2008 before the recession.
     Well, here we go again....sounding the warning signal about spiraling debt. Early in the 20th century a Columbia, SC banker told a young man who had applied for a loan that "It's easy to run into debt. But if you get out you do so as a walk." 

  Good advice in any age.

  We don't hold a diploma from  Economists School, but  we've spent a long life juggling a modest stream of income and have bought plenty of things on credit. We never liked being in debt. In case of an economic slowdown it can lead to personal disaster.

  This comment by Daviel Akaka makes sense:

  "It is imperative that we make consumers more aware of the long-term effects of their financial decisions, particularly in managing their credit card debt, so that they can avoid financial pitfalls that may lead to bankruptcy."

 


   A question about gold scarcity.
   "At some point, the market will discover that there is a massive shortage of physical gold in the interbank market. When this happens there will be panic and the gold price will shoot up. At the same time the holders of paper gold in the futures market will also ask for delivery. Since there are at least 100 paper claims for every physical ounce available, there will be a massive squeeze in that market too".  ~Egon von Greyerz

     Mr. Von Greyerz is a Swiss goldbug who points out that Switzerland has never confiscated private gold (such as the US did in 1934).  His reference to "paper gold" is a warning to investors who do not hold actual physical gold but own IOUs representing the precious metal.  He warns of the danger in that because the repositories hold far less gold than the paper certificates indicate.  Should the holders of paper gold wish to swap the IOUs for the precious metal in great volume choas would ensue. 

    Venezuela, desperate for money, has demanded the return of its gold from storage in London.  They have encountered resistance.  London has said it has not been able to find insurance to cover the actual shipment to Venezuela. 
   
   < The question of the possibility of another confiscation of gold by U.S. authorities often rises. 

          Let's say you have a small pile of Krugerrands hidden in your sock drawer...or wherever.  What claim would the U.S. Treasury have on  them?

          None.  But in 1934 U.S. gold eagles were money...legal tender. Today the precious metal coins do not circulate as legal tender.  Can you imagine anyone turning in a 1-ounce U.S. gold bullion coin (stamped $50.00) after having bought it for nearly $1,300.00? Quite unlikely, since the government has no more claim to domestic or foreign precious metal coins than it does your wrist watch. 



Soul of America
   Pat Buchanan remarked in a recent column, "Freedom of the press does not mean guaranteed immunity of the press from the same kind of abuse the press directs at the president." (The Soul of America)

   We watched with interest a video clip in which a TV network tried to "prove" that the White House has doctored the altercation between CNN's Jim Acosta and a girl from the White House staff who was trying to retrieve a microphone  he would not give up.  She claimed Acosta had brushed against her bare arm in an uncomfortable way and the  news  purveyors tried to prove that he did not.

   The verbal altercation between Acosta and President Trump is classic, rude, New York style street fighting. It's the style that sometimes leads to fisticuffs. High decibel tough talk seldom leads to any useful conclusion. It does little more than add fuel to the divisivness that has split America into two angry political camps.

    Now that the Midterm Elections are over look for the animosity between left and right to increase to even higher levels of foolishness and rudeness.



                  Republic vs. Democracy                           
   A trip through U.S. history will reveal that divisiveness within the general population is nothing new. Reduced to its basics it's usually the 'have-nots' versus the 'rich.'  Politics is mostly a perpetual contest trying to control the distrubution of wealth. The party that proposes ways for the a large segment of the population to live out of the pockets of other people is the one that's victorious on election day.

   L. Reichard White has come up with a lengthy discussion of the popular approach to democracy as opposed to the political framework the Founders built in the late 18th century....a republic. To this day we still pledge allegiance the the flag of the REPUBLIC for which it stands.  We are also reminded of Ben Franklin's quip when asked what sort of government the 1787 convention created.  "A REPUBLIC...if you can keep it," said he.

    Does it matter the United States has morphed from a republic to a democracy? REPUBLIC vs.DEMOCRACY