A glimpse of America's future? Author: JOHN RUBINO Since the beginning of recorded history, people have viewed gold as 1) money and 2) something to be replaced by sexier financial instruments whenever possible. Today’s fiat currencies, for instance, exist because governments find creating “wealth” out of thin air much more fun than living with a fixed money supply. And[...]
Month: January 2024
Going into 2024 the CSPM™ asset allocation model looks like this: Equities overall, are rich. Long-Term Bonds face supply headwinds from large increases in debt and credit expansion. Shorter-Term Bonds and cash equivalents have attractive yields. Credit Spreads on Corporate Bonds are historically tight, agency mortgage spreads offer value. Allocation to[...]
This is the first in what promises to be a long series showing what happens when governments run out of money and start cutting services. California is the obvious place to start.