In the second half, Max interviews author and investor, Harry Dent, who has had a house in Puerto Rico for 20 years but is just moving to the island now. They discuss debt and demographics.
by Mark Nestmann, The Burning Platform:
In 1971, President Richard Nixon told an ABC News reporter that he was “now a Keynesian in economics.”
Nixon’s statement was an acknowledgment that he agreed with the ideas of John Maynard Keynes. Keynes was an economist whose theories once underpinned the economies of every major country.
Nixon’s endorsement of Keynesian economics was shocking. To understand its impact at the time, consider how the world would react today if the leader of ISIS converted to Christianity. Or if the National Rifle Association endorsed a ban on semi-automatic weapons.
by Doug Casey, Casey Research:
Justin: Doug, you mentioned that China will likely be the first country to issue a gold-backed, government-regulated digital currency. Why do you say that?
Doug: They want to distance themselves from the U.S. dollar, which is the currency of their enemy, or at least their adversary. They want to make the yuan an alternative to the U.S. dollar for international settlement and commerce.
They’re already well on their way to doing this. They already have oil and gold exchanges in Shanghai, where those commodities are traded in yuan. Traders and governments who accept yuan can now easily convert them into real things. The logical next step is to launch a crypto yuan.
And it makes a lot of sense from their “one belt, one road” idea, too. They want to make it easy for governments, corporations, and individuals to use the yuan. About 65 countries, with over half the world’s population, will be tied together by the project. And they’ll be using the yuan, not the dollar.
by Nomi Prins, Daily Reckoning:
A government shutdown was averted last Friday when President Trump signed a $1.3 trillion, 2,232-page omnibus bill. The deadline was midnight Friday and the bill came out late Wednesday.
No one really had the time to go through it, and that’s on purpose.
The fact that no one really knew what was in it — besides the drafting committees and the lobbyists who crammed it full of pork — speaks volumes about how the people’s business is conducted in our democracy.
Theoretically, we still live in a republic, but the question is: Who exactly represents whom in Washington?