Mostly about Utah
The acronym PIIGS refers to the economies of Portugal, Italy, Ireland, Greece and Spain especially in regards to matters relating to sovereign debt and government deficits. These economies are seen to have high government debt levels and a high government deficits relative to annual gross domestic product (GDP), despite being comparable with the Eurozone as a whole. Some economies with similar financial … [Read more...]
Millions of U.S. citizens are concerned about deficit spending and the possibility of high inflation and even hyperinflation. To illustrate how easily fiat money can become hyperinflated, I have been highlighting the top four countries that have had hyperinflation. They are: Hungary, 207% daily inflation rate in July 1946 Zimbabwe, 98% daily inflation rate in November 2008 Yugoslavia, 65% … [Read more...]
Previously posted 27 November 2009 I became acquainted with the power of zero early in life. The power of zero was my financial plan. Very simple really. The nearer my balance approaches zero the slower my spending. Worth repeating, in bold, italicized, and indented: The nearer my balance approaches zero the slower my spending. Zero was that grand guardian against excess. The magical cipher to … [Read more...]
The 100 million mark banknote I am holding was mere pocket change compared to the value of the banknotes yet to be issued in 1923. In early 1921 German currency was trading at 60 marks to the U.S. dollar. By November 1921 there were 330 marks to the dollar. A year later a dollar bought 8,000 marks. In December 1923 the exchange rate was 4,200,000,000,000 marks to the U.S. dollar. The Wiemar Republic … [Read more...]
I recently wrote that I was concerned about the increased deficit spending by the Obama Administration. I showed what happened to Zimbabwe when the government failed to control their currency and their spending. Although hyperinflation destroyed their currency and their citizens lives, the worst offender of all time was Hungary. Above is a 100,000 Milpengo banknote if I am reading it correctly. … [Read more...]
Recently I have been concerned about the increased deficit spending by the Obama Administration. The risk of inflation, even hyperinflation, seems to be in our future. With a little study I was surprised to learn scores of countries have experienced hyperinflation. In November 2008, Zimbabwe had a monthly inflation rate of 79,600,000,000% and an annual rate of 89,700,000,000,000,000,000,000%. … [Read more...]
My guest writer is Sharon Smith of the Oak View Law Group. There is a crunch in the American economy and times are hard now. How is it possible to survive in this financial crisis? It is about time that you start saving for the "rainy day". Every family has an individual lifestyle to maintain. Here are a few tips, which can help you to save money, without compromising on the living standards. Do … [Read more...]
With China and India acquiring gold it is interesting to see that the United States still holds almost eight times the gold that China does and more than fourteen times India's reserves. Of note is that the United States has 78% of its foreign reserves in gold. Of the countries listed below only Greece (91.6%), Portugal (90.3%), and the Slovak Republic (83.3) have higher rates. However, China has … [Read more...]
The fuss lately over bank fees has left me mostly disinterested. After all, fees are what other people pay -- those folks who don't know how to manage their money. Wrong. When it happens to you then it isn't carelessness any more. It's just the law of averages -- sooner or later the fee devil will get you. Too Little Money When I was raising a family occasionally the bank would call and tell my wife … [Read more...]
Today imagine that Congress has a fit of sanity and manages to balance the budget. They do it through a combination of spending cuts and tax increases. The dollar strengthens and there is more money because of interest that is not needed to pay for deficits. Congress's approval rating soars and they decide to balance the budget from now on because the voters love it and so does the economy. But … [Read more...]
Loading ...
Recent Comments