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Tag Archives: Debt

Poor Kids in Baltimore Have It Worse Than Those in Nigeria

I have to say that I have seen some sketchy places in this country and beyond, but Baltimore is possibly the worst urban area I’ve ever seen in terms of total despair and decay. Many parts of it are just a war zone. Take the light rail into a football game some time and look out the window. It is post-apocalyptic. Sofas and refrigerators litter the vacant land between the rails and the housing projects. Graffitti covers everything. (And it’s not even the cool artsy graffiti like one sees in places like Harlem, it’s just messy, dirty graffiti. Mental vomit.) The “Charm City” is just a sad place. Its charm, if it was ever there has long left. At least for me.

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Have the young simply figured out that houses aren’t that good an investment? (Video)

Houses, at least most houses, really aren’t that good  an investment. Don’t get me wrong, I own a house. I’m rooting for a housing recovery. And I know some people are upside down on their houses and are hoping to get back above water sometime this decade. They don’t want to believe that their largest asset really isn’t that great an asset. But alas, in many cases, perhaps most, this is true.

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Ron Paul Says: Watch the Petrodollar, PD exports go negative for the first time in 18 years

We’ve written about the petrodollar a number of times. I even wrote 2/3 of a novel around the petrodollar a few years ago. It is important and it is not widely understood.

In a nutshell oil is traded in dollars and only dollars. (Almost entirely, countries have tried to set up side deals without the dollar but for the most part the dollar is where it’s at.) That means if country A wants to buy oil from country B country A better have some dollar reserves. Of course we get to “print” dollars which is nice for us.

The dollar is the world reserve currency. But if that were ever to change, especially if somehow it changed quickly, things would get pretty crazy economically pretty fast, think 2008 times 5. The “good” news is we have a bunch of aircraft carriers on call 24/7 to make sure that doesn’t happen. At least the US thinks it’s sure it won’t happen.

Always makes sense to watch the petrodollar but especially in times like these.

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