Trump’s Quantum Energy Revolution Is Nixon’s Revenge
Addison Wiggin / December 19, 2024
Donald Trump is about to unleash an evolution in quantum energy production. How? By following the path set by Richard Nixon when he was President over 50 years ago.
BREAKING NEWS
Addison Wiggin / January 15, 2025
It’s critical that homeowners are able to insure against that risk.
We’re not reducing the catastrophes to cliche. For most Americans, the primary residence is the family’s most significant financial asset. According to the Federal Reserve, following the financial crisis in ‘08 and a decade of zero interest rate policies leading to historically low mortgage rates, home equity was at its highest level ever, estimated at $35 trillion in the final quarter of 2024.
John Rubino / January 15, 2025
Combine massive population increase with soaring home prices, then toss in recurring natural disasters, and the result is a doom loop for the insurance companies that have to replace those multi-million dollar houses. In response, insurers are either raising their rates beyond the means of many homeowners or exiting these markets altogether.
Millions of Americans are thus left with much of their net worth tied up in houses that are prohibitively expensive to insure — if insurance is available at any price — and are therefore unsellable.
Addison Wiggin / January 15, 2025
Debt in the United States is already the size of our entire economy and is projected to grow much higher. Fortunately, there are many ways to stabilize our fiscal outlook. Recently, the nonpartisan Congressional Budget Office (CBO) released 76 policy options — spanning both revenues and spending — that could help bring the country’s rising debt under control. Below are some of the policy options that would have the largest effects.
Joel Bowman / January 15, 2025
Sr. Milei is, in fact, an anarcho-capitalist, who necessarily identifies the State as the problem. Mr. Trump, whatever you may think of him, sees the State (his State, to be sure) as the solution. This is not a distinction without a difference, gentle reader, but rather one with startling real world consequences.
James Hickman / January 15, 2025
The LA wildfires have caused tremendous damage, and taxpayers will likely end up on the hook as government gets involved.
Lau Vegys / January 14, 2025
As I’ve said many times in these pages, the U.S. government isn’t the only one drowning in a sea of debt—Americans are too. And nowhere is this more evident than with credit card debt.
Recent data from the latest consumer debt report by the Federal Reserve Bank of New York shows that credit card balances hit $1.17 trillion in the third quarter of 2024.
This is the highest balance on record since 1947.
Addison Wiggin / January 14, 2025
Trump’s tariff czar, Stephen Miran, is considering turning many of today’s 2% tariffs into 20%, with some goods receiving an import duty as high as 50%.
That’s quite the jump. And unlike in Trump’s first term, when tariffs were focused on Chinese goods, these new tariff rates would apply to friends and competitors alike.
According to John Authers at Bloomberg, that may be why the average Democrat sees inflation jumping higher, with expectations for a 4% read.
Meanwhile, the average Republican is now blind to the danger of inflation, seeing only a 0.1% increase.
Bill Bonner / January 14, 2025
A bit more guessy is our hypothesis that the Trump phenomenon doesn’t mark a real break with the past… but merely an acceleration in the rate of degeneration. More spending. More debt. More blatant corruption. More foreign adventures. More inflation… and so forth.
The press confuses the issue. It says Trump represents the ‘extreme right’ as opposed to the mainstream ‘enlightened liberals.’ In the minds of many, the Trump win represents a whole new thing… a new era in US politics.
And in some ways it does. But not the important ones.
Addison Wiggin / January 13, 2025
Market volatility and weakness are not what the new year needs. The year 2024 saw the S&P 500 set 62 consecutive record highs. The market begins the new year with a challenge: it has never finished consecutive years posting 24% or better gains. With the tailwinds behind us since the bear market spooked Wall Street in 2022, there are more than a few itchy trigger fingers managing large sums of pension, IRA and mutual funds in New York.
Addison Wiggin / January 13, 2025
If there was ever a proverbial last-grain-of-sand-in-a-landslide, the Great 2025 Los Angeles Fire must be a sure thing vis-a-vis the US economy, especially the financial side of it. An awful lot of homeowners will not be paying their mortgages on a smoldering empty lot. The banks are not in super-fabulous condition these days. How many loans-gone-bad will it take to wreck already unstable banks? And, by the way, the collateral isn’t even there anymore. The re-po man is out of the picture.
From the creators of The Daily Reckoning, I.O.U.S.A, Empire of Debt and The Daily Missive
