John T. Reed’s news blog
More statements promising higher inflation from the White House and the Fed
Posted by John Reed on
A recent Wall Street Journal story said the Fed is now planning to letting inflation go above 2%, the previous long-term target. In 1971, Nixon ended the Bretton Woods U.S. gold standard. Around that same time, he instituted price controls because inflation was so high. How high? 5.84% in 1971. Inflation subsequently reached 13.29% in 1979.The key question if you have USD in interest-bearing accounts is what real (adjusted for inflation) interest rate are you getting. If it’s negative, your net worth is going down the tubes.Another recent Wall Street Journal story said that Trump stated fiscal plans would double...
I do not think you need a foreign passport, but you do need foreign money.
Posted by John Reed on
“Simon Black,” a pseudonym of a guy who encourages Americans to live and invest abroad, sent out an email today that rhapsodized about the first time he got a passport from a country other than the U.S. My research and writing about How To Protect Your Life Savings from Hyperinflation & Depression, 2nd edition caused me to realize that when there is an inflation or deflation crisis in your country, you need to leave the country for the duration. That is no exaggeration. Look at Venezuela today. Wouldn’t you leave there if you could? So I looked into...
The REAL asymmetrical warfare
Posted by John Reed on
Terrorists are thinking more like my Unelected President “Mike Medlock” with regard to military tactics. They use stolen or rented or their own vehicles to smash into crowds of people. They use knives to kill them when they do not have a vehicle. Why go through the hassles of trying to smuggle explosives and automatic weapons? You get about the same publicity from today” London murder stunt as if there was an AK-47 or a block of C-4. And publicity is the goal.President Medlock asks his military “why go to all the trouble of dropping a bomb on a gasoline...
Are robots going to eliminate humans from the labor force?
Posted by John Reed on
Robots do not pay taxes. And all jobs is a gross exaggeration. Robots need to be made, delivered, installed, maintained and replaced. They are generally more productive than humans but not able to exist without some humans. Even unmanned satellites require many humans on the ground to create and sustain them.In Japan, they are now big on self-driving construction and farming machines and tractors, because of their labor shortage. The competition comes from abroad if not from within the US. There is no place to hide from competition. There is more automation now than ever in history and millions of...
Stop feeling bad about what the white men did to the Indians
Posted by John T. Reed on
Here is one of the most-commented-about articles I ever wrote. I wrote it on Thanksgiving. I lost it. I mentioned it to my son Mike and he immediately found it on someone else’s Facebook. It had 109 comments on the other guy’s Facebook wall. It has become fashionable and politically correct for whites to beat themselves up for having stolen the land of Native Americans when we arrived in the Western hemisphere. In ultra liberal places like Berkeley, CA—they call Columbus Day Indigenous Peoples Day and we are supposed to feel bad on Thanksgiving because the Indians were so nice...