John T. Reed’s news blog
On experiencing the new when you are old
Posted by John Reed on
I know a guy who is getting married in June. They just bought a brand new home. They fell in love in their early twenties but other stuff came up. He was my roommate in college. Our first marriages are dead. Long live our new marriage.One of my wife’s cats died unexpectedly last Friday. She just put down a deposit on a replacement kitten. Our cat is dead. Long live our kitten.My middle son just bought his first home, a condo. My youngest son is going to get back to his first home search when his Realtor® gets back from...
Critique of the Trump attack on Syria
Posted by John Reed on
There is a saying in Hollywood, “If you want to send a message, use Western Union.” It means, don’t make a movie the purpose of which is to send a message to the audience.It would appear that Trump violated that rule. He used $84 million of cruise missiles to send a message. In this case, probably neither a movie nor Western Union would have been believed by the intended audience. The exploding missiles were believed. Military intimidated by Trump? My main reason for not liking draft dodgers in chief like Clinton, Bush II, Obama, and Trump is they seem to be...
Trump attack inappropriate and too expensive, but I like his style
Posted by John Reed on
My Unelected President “Mike Medlock” already dealt with Syria in my novel. He was asked what he wanted to do, asked why it would be the business of the US president, and upon hearing no good answer, said, “I will do nothing. It’s none of my business.” Would poison gas change his mind? No, the first poison gas attacks had already happened by 2013 when my novel is set. The terribleness of the various regimes around the world does not make them the business of the US. It is arguably not even the business of the neighboring countries. If it...
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...