9 of the Smartest Retirement Locations in the US

Posted on
signature nilus mattive 1

This post 9 of the Smartest Retirement Locations in the US appeared first on Daily Reckoning. When it comes to retirement destinations, you can find an endless number of lists ranking the best and worst spots to live out your golden years. My take is it really depends on how you want your retirement to… Read More

US Home Purchases by Chinese, Other Foreigners Plunge Below 2012 Level. And the (for me) Chilling “Chinese Reaction” to it from the Largest Chinese Portal for US Homes for Sale

Posted on
US home purchases foreign buyers through 3 2019

“For developers and agents in most parts of the country who rely on foreign buyers, there is really no alternative to buyers from China”: CEO of Juwei.com The puzzle in the US housing market was this: Mortgage rates have dropped since November, and as expected mortgage applications to buy homes have surged, and this was… Read More

London Housing Bust: Prices Fall, Sales Plunge to 2009 Level

Posted on
UK House prices London 2019 05

Most other regions in the UK cling to price gains. Home prices in Greater London – all types of homes combined – dropped 4.4% in May compared to May last year, the biggest 12-month drop since August 2009, to £457,471 ($569,000), the lowest since January 2016, according to the UK government’s Office for National Statistics… Read More

Planning for Retirement? Don’t Forget This Key Step

Posted on
signature nilus mattive

This post Planning for Retirement? Don’t Forget This Key Step appeared first on Daily Reckoning. After working 25, 30, 35 years, or longer, you might think that retirement will be a like a permanent vacation where you sit back with your feet up and watch the world whiz by. But it’s not. Retiring is a… Read More

The Three Ds of Doom: Debt, Default, Depression

Posted on
TCMDO2 19a

“Borrowing our way out of debt” generates the three Ds of Doom: debt leads to default which ushers in Depression. Let’s start by defining Economic Depression: a Depression is a Recession that isn’t fixed by conventional fiscal and monetary stimulus. In other words, when a recession drags on despite massive fiscal and monetary stimulus being thrown into… Read More

The Victims of Inflation

Posted on

Inflation gets pitched as something inherently good the Fed is trying to make sure folks gets enough of. But someone’s paying the price. This is the transcript from my podcast, THE WOLF STREET REPORT: OK, this is something new in the already tarnished history of mankind: Governors of the Federal Reserve have been fanning out… Read More

Everything’s Fine Until Suddenly it Isn’t: How a “Leveraged Loan” Blows Up

Posted on
US Clover leveraged loan 2019 07 16 bloomberg

Kudos to the private equity firm. These things don’t happen overnight for companies. They happen overnight only for investors. Golden Gate Capital – the private equity firm now infamous for asset-stripping its portfolio company Payless ShoeSource into bankruptcy and liquidation – strikes again with another of its portfolio companies, Clover Technologies, whose $693-million leveraged loan… Read More

Endless Summer of Low Interest Rates

Posted on
RLR 7.15 CHART 1 1024x412

This post Endless Summer of Low Interest Rates appeared first on Daily Reckoning. My summer is in full swing. South swells are rolling through the ocean… The California sun is shining in all its glory… The water temps are balmy (at least for the Pacific)… And there’s enough daylight to put in a full day… Read More

“Transportation Recession” Gets Uglier

Posted on
US Cass freight index shipments yoy 2019 06

After the boom comes the bust. Freight shipments in the US across all modes of transportation – truck, rail, air, and barge – fell 5.3% in June compared to June last year, after having fallen 6.0% in May, the seventh month in a row of year-over-year declines, according to the Cass Freight Index for Shipments.… Read More

New Multi-year Gold Rally Has Emerged

Posted on
chart1 07152019 dr

This post New Multi-year Gold Rally Has Emerged appeared first on Daily Reckoning. The dollar price of gold has been on a roller-coaster ride for the past six years. But the past six weeks have been a turbocharged version of that. Investors should expect more of the same for reasons explained below. The six-year story… Read More

Trump Declares War

Posted on

This post Trump Declares War appeared first on Daily Reckoning. Trump has had it! He is apparently declaring a currency war on the rest of the world. Trump resents China and Europe cheapening the yuan and the euro against the dollar in order to help their exports and hurt ours. He says it’s time for… Read More

7 Financial Mistakes to Avoid After a Divorce

Posted on

This post 7 Financial Mistakes to Avoid After a Divorce appeared first on Daily Reckoning. Raise your hand if you’ve heard that half of all marriages will end in divorce? Even if that statistic was once true, it’s not anymore. Divorce is on the decline and has been since the 1980s in America. Experts now… Read More

The Myth of Compounding Interest

Posted on

This post The Myth of Compounding Interest appeared first on Daily Reckoning. Editor’s note: It’s one of the oldest rules of saving and investing: the wonders of compound interest. But can you rely upon it to build wealth? Today eccentric former hedge fund manager gives you his surprising answer. Dear Reader, Albert Einstein supposedly said,… Read More

Not Helpful for Crushed European Bank Stocks: Stress Test a Sham, European Court of Auditors Warns

Posted on
EU Banks Bank Stoxx 600 Index 2006 2019 07 15

Just when European banks need to inspire confidence more than ever. By Nick Corbishley, for WOLF STREET: European bank stocks continue to get hammered near multi-decade lows by a slew of problems, including the ECB’s monetary policies, particularly its negative-interest-rate policy (NIRP), festering nonperforming loans, and a well-deserved lack of confidence by investors. This was just exacerbated… Read More

THE WOLF STREET REPORT: The Victims of Inflation

Posted on

Beatings Will Continue Till the Mood Improves, or Something. The media and the Fed make it sound like inflation is inherently good. That’s how the media pitch it to regular folks — that the Fed is heroically trying to make sure everyone gets enough of it. (10 minutes) [embedded content] Enjoy reading WOLF STREET and… Read More

Epstein and the Explosive Crisis of the Deep State

Posted on
cliff sign2

Since the battle is for the legitimacy of the state, it must be waged at least partially in the open. Speculations by outsiders must give Deep State insiders many opportunities to chuckle, “if only they knew.” We don’t know, of course, and public leaks are engineered to misdirect our attention from what’s actually going on or… Read More

My Advice to the Fed on “Low Inflation”: Use a Different Index for Crying Out Loud and Tell the BLS to be Less Aggressive with “Hedonic Quality Adjustments”

Posted on
US CPI v PCE core 2019 07

The Fed could instantly claim victory and pocket the kudos. For the first time in history, the Fed is officially and vocally considering the use of monetary policy to increase inflation, or at least inflation expectations. On Friday, it was the turn of Chicago Fed President Charles Evans to drill this message into the minds… Read More

The 7 Money Lessons You Should Already Know

Posted on

This post The 7 Money Lessons You Should Already Know appeared first on Daily Reckoning. If wealthy people have the same 24 hours in a day, and work just as hard as others, how do they acquire such incredible wealth? This was the question George Samuel Clason set out to answer in his timeless classic… Read More

Until the Tax Man Do Us Part

Posted on
RLR img1

This post Until the Tax Man Do Us Part appeared first on Daily Reckoning. Are you planning a wedding for this year? Congratulations! Whether it’s going to be one with hundreds of guests in a grand setting or something much more intimate… like a ceremony on the beach with a few close family members and… Read More