It’s worse than I suspected. Last week, I had the chance to fly around the Northern Virginia area in a helicopter. The number of subdivisions being built as far south as Richmond is astounding. I’ve been concerned about this bubble since 2014, and frankly I can’t believe just how big it’s gotten.
Zero percent interest rates have created a massive amount of malinvestment in the Washington, D.C. area. Cranes paint the nation’s capital, and they don’t stop there. Billions continue to be poured into the D.C. Metro line, which is being extended out to the Dulles Airport and beyond. These are the type of projects that are commenced through the vast misallocation of resources that only artificially low interest rates can provide.
It’s been a busy week in the financial world. The Fed raised interest rates, America hit it’s debt ceiling (again) and digital currencies seem more volatile than ever before. Luckily we had Eric Dubin on the show to help sort out some of the things going on in the marketplace.
I’m so busy and tired that I forgot to send out last week’s email. If you missed episode 94 with Tim Delmastro, then be sure to check it out!
Not only am I exhausted from life, work and parenthood, but I’m also fed up with Janet Yellen and the Federal Reserve. Next week, the Fed is “almost guaranteed” to raise interest rates for the third time at “the most important Fed meeting ever.” The hype and fanfare is nauseating.
The Fed hasn’t even raised rates to the 1% bottom that Alan Greenspan achieved, which created last financial crisis. Now people like Steve Liesman are still acting like the “geniuses” at the Fed have done the impossible. “They saved the U.S. economy,” they tell us, but they have only served to secure a more fateful demise.
Like a man attempting suicide by climbing several more flights of stairs, the Fed has only ensured that we will be falling from a greater height when we finally leap. The truth is that we’re probably already falling, but we think we’re ok because we haven’t hit pavement yet.
Be sure to check out our episode with musician Gene Goodman, and protect your savings from the Fed with Goldmoney!
In episode 79, Phil sat down with John Rubino of DollarCollapse.com to discuss Donald Trump’s victory, the Fed, the dollar, gold and way more! Phil and John Kennedy sandwiched the interview with a report from a Trump campaign event and how to manage the post election blues.
In episode 67, Phil interviewed his hero Tom Woods to discuss entrepreurship, economics and U.S. financial history. This episode is a testament to the fact that if you keep trying, you too can eventually interview one of your heroes!
In episode 62, Phil interviews The Doc from SD Bullion to talk about the recent moves and bright future for silver. Phil and John cover the hypocrisy of Bernie Sanders and the financial literacy of most Americans.
In episode 61, Phil interviews Jason Burack of Wall Street for Main Street to discuss the troubled global ecomony. Phil and John cover the problems with Tesla and government subsidies. Share us with a friend!
In episode 60, Phil interviewed the silver guru David Morgan to discuss the recent momentum and long-term upside in the silver market. Phil and John cover Brexit and some of the action in the precious metals market since the June 23rd vote. If you like what we’re doing, then please SHARE us with a friend!
In episode 59, Phil interviews the Dollar Vigilante, Jeff Berwick, to discuss the numerous economic obstacles facing Americans. Phil and John also discuss the ongoing irrational exuberance in the housing market and how to spot it. If you like what we’re doing, then tell a friend!
The original silver investor David Morgan will be featured in the next post, so be on the lookout for it!
In episode 50, Phil and John discuss their appearance on GoldSilver.com and the deaths of Chyna (the 9th wonder of the world) and Prince. The brothers also cover Obama’s effective tax rate and the new $20 bill. The topic of the $20 bill stirred controversy last week, but most of the talking heads failed to understand the real significance of the White House and Treasury announcement.
When the Federal Reserve was first created in 1913, a $20 gold certificate could be traded for an ounce of gold to the bearer on demand. Through endless wars and social welfare programs, the Fed has caused the dollar to lose approximately 98% of its purchasing power in just over 100 years. An ounce of gold now costs over $1,200, and the president who opposed all this central banking nonsense is finally being unshackled from the worthless fiat paper he opposed.
If you know someone who is struggling with personal finance in the phony U.S. economy, then please have them contact us for FREE financial counseling.