Debt Crisis

Chicago Pastor Calls On State Of Illinois To Declare ‘State Of Emergency’ Over Financial Woes

One Roman Catholic priest in Chicago is sounding the alarm over the financial health of both the City of Chicago and State of Illinois. Tom Schuba blogged on the NBC Chicago website Monday:

Father Michael Pfleger, the outspoken pastor at St. Sabina’s church in the Auburn Gresham neighborhood, called on the state of Illinois to declare a state of emergency amid dire economic situations in Chicago and Illinois

The city’s broke, the state’s broke and dysfunctional and in downstate Illinois when a hurricane happens, a tornado happens, what do we do,” Pfleger asked. “We call a state of emergency and resources are brought in.”

Pfleger encouraged using federal resources to embolden communities and bolster the police force…

(Editor’s note: Bold added for emphasis)

While I don’t see eye-to-eye with Fr. Pfleger on gun “control” (a subject for which he routinely makes the local news headlines), I do agree with him that some sort of action is required to tackle both Chicago’s and the State of Illinois’ fiscal problems, and that “bolstering” of the Chicago Police Department is necessary.

You can read the entire piece on the NBC Chicago website here.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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More Financial Pain For Many Chicago Homeowners In The Coming Days

When it comes to keeping on top of the latest financial developments coming out Chicago, I’ve been out of the loop lately (no pun intended).

As if that really mattered. Like I’ve been saying for some time now- the writing is on the wall for the “Windy City” concerning its finances.

I’ve also pointed out time and time again Chicagoans should expect higher/new fees, fines, and taxes (in conjunction with less government services) going forward.

Case in point- the next round of property tax bills. Hal Dardick reported on the Chicago Tribune website last week:

Chicago homeowners should brace themselves for sticker shock when they open their mailbox at the end of the month: property tax bills on average 13 percent higher than last year.

The big increase is mostly being driven by the record tax increase Mayor Rahm Emanuel engineered last fall to fix city pension funds for police officers and firefighters.

Cook County Clerk David Orr released tax rate figures Monday, revealing the practical effects of City Hall’s painful decision. The owner of a single-family home with the current average sale price of about $225,000 can expect to see a property tax bill of $3,633, an increase of about $413

(Editor’s note: Bold added for emphasis)

Compare this to an overall 9.3 percent citywide increase over the last three years, according to Dardick.

And just this morning one local TV news broadcast reported that the Chicago Teachers Union is demanding Mayor Emanuel raise taxes even more for school funding.

I think it’s pretty safe to say that more financial pain is heading Chicagoans’ way.

As for the rest of Cook County, the Tribune piece noted:

By comparison, homeowners in suburban Cook County typically can expect more modest increases, averaging 2 percent, although they already are paying substantially more than their city counterparts, according to Orr’s data…

Last I checked County finances weren’t too pretty either, so these suburban homeowners may very well be in the same boat as their city counterparts down the road.

For more information, check out Dardick’s entire article here on the Tribune website.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Chicago’s 2016 Memorial Day Weekend: 7 Killed, 68 Wounded

Regular Survival And Prosperity readers may have noticed I haven’t blogged too much about Chicago recently. Reason being? I’ve grown tired of pointing out the obvious, which is the writing’s on the wall for the “Windy City,” and that scene is bound to get real ugly before conditions can improve. However, this afternoon I feel compelled to make an exception as “Beirut By The Lake” was seriously hopping over the long holiday weekend. The HeyJackass! (“Illustrating Chicago Values”) website breaks down the carnage under a section entitled “Memorial Day Weekend”:

This weekend marks the start of the annual Summer Stupidity & Shooting Season. Between now and Labor Day weekend, we’ll expect to see around 225 homicides and an additional 1,000 shot and wounded.
Final Stupidity Tally: 7 killed, 68 wounded
2015 weekend tally: 8 killed, 24 wounded
2014 weekend tally: 9 killed, 27 wounded

“7 killed, 68 wounded”

It should be noted that last weekend’s shootings weren’t confined to those areas of Chicago one might reasonably expect such violence to take place. Alexandra Chachkevitch, Joe Mahr, Peter Nickeas, and Grace Wong observed on the Chicago Tribune website this morning:

The rest of the weekend shootings were scattered across Chicago. They happened as far north as West Rogers Park and northwest as Jefferson Park and as far south as the West Pullman neighborhood. The violence centered on the West Side, though. Seven of the shooting incidents on the West Side had more than one victim…

Only a matter of time now before there’s renewed talk of bringing in the Illinois National Guard, U.S. Department of Homeland Security, or U.S. Army to patrol the streets of Chiraq.

And rounding up all the guns….

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Source:

Chachkevitch, Alexandra , Mahr, Joe, Nickeas, Peter, and Wong, Grace. “Memorial Day weekend closes with 69 shot in Chicago, many of them on West Side.” Chicago Tribune. 31 May 2016. (http://www.chicagotribune.com/news/local/breaking/ct-chicago-shootings-memorial-day-20160530-story.html). 31 May 2016.

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Signs Of The Time, Part 104

In the May 2016 issue of The Atlantic there’s an article entitled “The Secret Shame of Middle-Class Americans.” Neal Gabler writes:

Since 2013, the Federal Reserve Board has conducted a survey to “monitor the financial and economic status of American consumers.” Most of the data in the latest survey, frankly, are less than earth-shattering: 49 percent of part-time workers would prefer to work more hours at their current wage; 29 percent of Americans expect to earn a higher income in the coming year; 43 percent of homeowners who have owned their home for at least a year believe its value has increased. But the answer to one question was astonishing. The Fed asked respondents how they would pay for a $400 emergency. The answer: 47 percent of respondents said that either they would cover the expense by borrowing or selling something, or they would not be able to come up with the $400 at all. Four hundred dollars! Who knew?

I didn’t know.

But I’m really not surprised to learn of it either.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Source:

Gabler, Neal. “The Secret Shame of Middle-Class Americans.” The Atlantic. May 2016. (http://www.theatlantic.com/magazine/archive/2016/05/my-secret-shame/476415/). 24 May 2016.

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Peter Schiff: Obama, Federal Reserve, Government Have Failed As ‘This Economy Is A Disaster’

Economist, financial broker/dealer, and author Peter Schiff appeared on the Alex Jones Show last Friday. Schiff, who correctly-called last decade’s housing crash and recent global economic crisis, discussed a number of subjects with Jones, including Puerto’s Rico’s recent default/economic crisis and “modest” U.S. inflation numbers. The “crash prophet” said of the U.S. territory:

It’s never a problem until it is. So Puerto Rico is broke, but now it’s a problem because the creditors figured out that they’re broke. Well America is more broke than Puerto Rico. That’s a fact. It’s just that our creditors haven’t figured it out yet. But when they do, then Donald Trump is going to end up being right, because all we can do is default. And if we don’t default, if we print money- which now Trump is saying, “Oh, we don’t have to default because we can print.” Well printing is worse than default, because printing doesn’t just wipe out the bondholders, it wipes out anybody who hold U.S. dollars.

When asked by Alex Jones where all the inflation is being hidden, the CEO of Euro Pacific Capital pointed out:

It’s actually hiding in plain sight because, because first of all, the inflation is all the money printing. That’s the definition. The consequence of inflation is that prices go up. But look, stock prices went way up. Real estate prices went back up. Rare art went back up. Collectible cars went back up. I mean, asset prices have gone up like crazy- that is inflation. And, of course, anybody who lives in America knows that the prices are going up. Look, rents are up about 8 percent year-over-year. Look how much health care costs have gone up. Utilities are going up. Look at the price of food. Have you bought a steak recently at a supermarket? Prices are going up. It’s just that the government is not doing an accurate job of reporting, and that is by design…. The standard of living is going down. Americans are working two or three jobs a piece. And they can barely make ends meet. You know, this economy is a disaster. And everyone wants to pretend that it’s great, because no one wants to admit that Obama is a complete failure, that the Federal Reserve was a complete failure, that everything that government has done has failed.


“Venezuela Is America’s Socialist Future”
YouTube Video

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. The creator/Editor of this blog is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information contained herein.)

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Signs Of The Time, Part 103

Last week I saw the following e-mail from Crain’s Chicago Business in my inbox. The subject line was:

Chicago is in crisis. Let’s talk. Be there.

And the body of the e-mail:

Crain’s Future Of Chicago Conference

Chicago is at a tipping point and the world spotlight is directed squarely on us

(Editor’s note: Bold added for emphasis)

Been warning about this situation for how many years now?

There was also this:

Business, government, education and civic leaders are coming together at this pivotal point to forge a way forward at a Crain’s conference like no other…

I wonder how many of these “leaders” helped bring about the present crisis? And if they were involved in the debacle, does it really make sense they should be relied upon to fix it?

I won’t be attending the conference, but I wish participants the best of luck with their attempt to “forge a way forward.” They’re going to need it.

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Wednesday, May 18th, 2016 Debt Crisis, Signs Of The Time No Comments

Peter Schiff: Obama, Fed Presided Over Phony Recovery, Sees ‘Major, Major Currency Crisis’ Coming

This past weekend, Peter Schiff, the CEO of Euro Pacific Capital, uploaded a new video to The Schiff Report on YouTube.com. Schiff, who correctly-called last decade’s housing crash and recent global economic crisis, noted that it had been a while since he released an entry to this vlog. As such, Schiff talked about a number of subjects. He advised viewers:

I think that we’re already in recession. It’s just that the Fed hasn’t acknowledged it yet. And one of the reasons that Janet Yellen is so reluctant to come clean and acknowledge how weak the economy is because number one, it undercuts President Obama, who’s going around the world claiming the United States has the strongest economy in the world when we’re, in fact, in recession. Even Europe is growing faster than the United States. Yet somehow President Obama wants to claim credit for saving the U.S. economy and producing all this non-existent growth. While the Federal Reserve doesn’t want to peddle fiction, in the words of President Obama. So it doesn’t want to basically undercut his message of an economic recovery by acknowledging that it’s over. And for the same reason the Fed doesn’t want to take the wind out of Hillary Clinton’s sails, because she wants to sail into the White House based on the prosperity that was supposedly created by President Obama. So Janet Yellen doesn’t want to undercut her message because she wants to run on four more years. And the Fed can’t admit that we’re back in recession. And also the Federal Reserve has already claimed credit for success. They want to pretend that their monetary policies created this real recovery. They don’t want to acknowledge it ended. So they have their own credibility on the line. They want to pretend that the economy is still recovering…

Meanwhile, I think it’s the United States that’s going to launch a whole new round of easing. I think they’re going to be lowering interest rates back to zero and launching QE 4. The only unknown is whether they’re going to do it before or after the election. And it depends on how quickly the economy or the markets unravel, because Yellen would rather have to come to the rescue of the economy before the election, because admitting that it needs rescuing is going to be a problem for Hillary Clinton and it’s going to help Donald Trump. And I know Janet Yellen does not want to see Donald Trump as the next President. So that is the fine line that she is trying to walk. Whether she admits the economy is weak enough and needs stimulus, or whether she puts the stimulus anyway because it’s so weak she’s worried about the economy being too deep in a recession when voters go to the polls. And in that case, the Federal Reserve simply has to come up with some kind of excuse to try and blame things on the global economy. But the problem is, the situation is already turning around in the global economy. The real problem in the global economy is the United States.

And if you look at the action in the markets, people are just starting to figure this out. But it’s still kind of like a deer in the headlight moment. I think a lot of traders, a lot of people who are managing money on Wall Street. They’ve been getting beaten up this year. A lot of the big players are losing a lot of money because they are positioned for the wrong outcome. Everybody has believed this narrative of a legitimate recovery, where the Federal Reserve will be normalizing interest rates. I’ve known all along that that was a farce. That the economy hadn’t recovered. That the Federal Reserve had in fact prevented a recovery. That the U.S. economy is actually in worse shape now than it was in 2008. So rather than a recovery, we actually got sicker. We just covered up some of the symptoms. But we have exacerbated all of the problems. And President Obama- he’s hasn’t presided over a recovery at all. He’s presided over a bigger bubble than his predecessor. And in fact, the economic disaster that awaits his successor, is going to be much bigger than the disaster he inherited from George Bush. And he spent the entire last eight years of his presidency blaming everything bad on Bush, and claiming that he got us out of that mess. Well, the reality is, he has gotten us into a much bigger mess. And whoever succeeds him is going to have to deal with it. It will be interesting though if its ends up being Hillary Clinton. Is she going to still blame the disaster on Bush, and just forget about the eight years of Obama, and try and blame the recession she is going to inherit as some kind of leftover, residual recession from the Bush years? As if President Obama had actually nothing to do with it, when his policies simply exacerbated all the problems. He just double-downed on the failed policies of Bush. But then he added a lot of other policies that were even worse. And that is why this so-called recovery has been the weakest recovery that we have ever had. And, in fact, if the truth were known. If the numbers weren’t cooked by artificially-low inflation rates, we would have a much weaker recovery or we’d have no recovery at all. But the people who are voting for Bernie Sanders or voting for Donald Trump- they are living in this recession. This phony recovery that President Obama and the Federal Reserve want to take credit for.

Schiff hasn’t deviated from his long-held belief of a coming dollar crisis. He warned viewers:

This is going to be a major, major currency crisis. And unfortunately, the currency crisis/economic crisis that’s coming- maybe it’ll start before Obama leaves office, just like the financial crisis blew up on the last year of the Bush administration. Or maybe it will be an inaugural present for Donald Trump or for Hillary Clinton. But this crisis that’s coming is going to be much worse, much worse, on an order of magnitude, kind of like a Richter scale-worse, than the financial crisis of 2008. Because the combination of bad fiscal policy and bad monetary policy, particularly monetary policy but also things like ObamaCare- all the things that the Federal Reserve and the federal government have done over the last seven or eight years have made the problem so much worse. Meanwhile, the debt has gotten so much bigger. The leverage has gotten so much bigger. The number of players, the financial markets, are so much more out-of-whack based on a false expectation of what is likely to happen. I mean, this is worse- these are bigger imbalances than we had leading up to the 2008 financial crisis. Fewer people are prepared for what’s going to happen. And when it does, it’s going to be a major economic upheaval, much worse than what we had in ’08 from the perspective of the average American… When you have a currency crisis, when the dollar is collapsing, when the cost of living is going up, and then people start to lose these part-time jobs- you lose your job and the cost of living goes up. This is going to be much worse.


“Gold and Currency Markets Expose U.S. Recovery Myth”
YouTube Video

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; a qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. The creator/Editor of this blog is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information contained herein.)

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Jim Rogers: ‘We’re Certainly Going To Have Worse Times Than We’ve Had In Our Lifetime’

Let’s talk finance and investing for the remainder of the day. Well-known investor, author, and financial commentator Jim Rogers recently made an appearance on GoldSeek.com Radio, and in the April 1, 2016, broadcast, the former investing partner of George Soros talked about several topics including a coming U.S. financial crash, where he’s putting his money these days, and the prospect of another buying opportunity with gold. On a coming crash, from the exchange with host Chris Waltzek:

WALTZEK: You know you’ve mentioned that this could be the “last rally.” I put that in quotes and we’re seeing again signs of that. But these price-to-earnings ratios, the CAPE ratios, some of our individual stocks 300, 500-priced-to- earnings. I mean, they’re priced to perfection for eternity. Could this lead to maybe a 1929-style scenario, or are we in worse or more dangerous water?
ROGERS: Chris, we’re certainly going to have worse times than we’ve had in our lifetimes. How bad it is? I expect it to be, well to repeat, worse than anything we’ve had in our lifetime, because the debt is like nothing it’s ever been in recorded history. America is now the largest debtor nation in the history of the world. Higher and higher. But so does everybody else’s debt. So the next time around- yes, it’s going to be very, very disastrous. The only hope Chris is that somehow the world survives the next time around. Well we won’t survive the one after that, I assure you, because the debt will be so much higher, money printing will be so much worse. We’re going to live in very interesting times, which as you know, a Chinese curse to live in interesting times.

Regarding where the Singapore-based investor is putting his money:

WALTZEK: So give us an idea then where those funds of yours are headed and where you feel safe right now.
ROGERS: I own a lot of U.S. dollars, not because it’s going to be a horrible currency in the end, but with the bad times coming many people will put their money in what they consider safe assets or safe havens, and many people think the U.S. dollar is a safe haven. Compared to the rest of the world- yeah, it is a safe haven compared to the yen or the euro or other currencies. So I own U.S. dollars. I own Chinese renminbi. I own Chinese shares. I’m short in the U.S. I’m long agriculture. I bought recently some Russian government short-term bonds in rubles. I own some gold and silver which I have for years- I haven’t bought any recently. Some stocks that I’ve owned for twenty or thirty years- I don’t see any reason to sell them since I bought them so long ago. That’s basically, off the top of my head, where my investments are.

On the prospect of another buying opportunity in gold, Rogers said:

I’m not rushing in to buy. I still expect a better opportunity to buy gold sometime in the next two or three years. If that happens, I hope I’m smart enough to buy more. If it doesn’t happen, I own some gold, so I’ll make money. But I’m still waiting for my… another opportunity.

The CEO of Rogers Holdings and Beeland Interests, Inc. shared with listeners:

There are other places I’m looking at but I’m really not very active at all. I’m mainly just watching the world unfold. Be knowledgeable, be worried, and be prepared.

“Be knowledgeable, be worried, and be prepared.” Wise words to digest.


“GSR interviews JIM ROGERS – March 31, 2016 Nugget”
YouTube Video

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; a qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. The creator/Editor of this blog is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information contained herein.)

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Martin Armstrong Warns Illinois ‘Taxpayers Are Absolutely Screwed And This Is Not A Place You Want To Own Property’

Speaking of Martin Armstrong, I was reading the economist’s blog early Wednesday morning when I came across the following in his April 4 post entitled “Illinois on the Brink of Bankruptcy”:

The pension crisis is brewing and the one state that appears to be heading toward a complete bankruptcy is Illinois. Clients should not own ANY debt from Illinois, be it city, municipal, or state. Just get out before the curtain falls. The Illinois Constitution plainly states that pension benefits, once granted, “shall not be diminished or impaired.” Thus, taxpayers are absolutely screwed and this is not a place you want to own property

(Editor’s note: Bold added for emphasis)

“Taxpayers are absolutely screwed and this is not a place you want to own property”

“Just get out before the curtain falls”

Regular readers of Survival And Prosperity know this has been a major concern of mine for a couple of years now. I blogged back on November 9, 2012:

Events that have unfolded at the local level on up for some time now have convinced me that my future lies outside of Chicago, Cook County, and Illinois. Which is a shame, because as I’ve mentioned before, my family has deep ties to the area. So much so a number of family members are familiar with the tale of one ancestor who fought courageously to save his tailor shop (at least the contents of it) from the approaching flames of the Great Chicago Fire back in 1871.

141 years later, another looming disaster looks to be in store for me and my loved ones if I don’t take action, and soon.

It’s bad enough Chicago, Cook County, and Illinois was already overrun by too many residents that live their lives in pursuit of the Ubi East Mea (“Where’s Mine?”) mentality and politicians who have been quick to pander to these individuals with “free” things in exchange for votes- long before last Tuesday’s election results revealed the rest of America is now marching down this same path.

But combine this with poor financial health, a bleak economic outlook, and growing attacks on the finances and freedoms of productive, law-abiding residents as politicians rob Peter to pay Paul in their attempt to remain in office- and you’ve got one hell of a mess coming to this area of the Midwest in the next few years.

Eventually, I predict the productive residents will split town (this happened before in Chicago in the late 60s-early 70s in some neighborhoods), there will be no more money for “freebies,” and the “Where’s Mine?” brigade will riot. Athens-style.

As I’ve been telling those close to me for some time now, “First you’ll see the strikes. Then the larger protests. Until finally, the riots.”

History shows you don’t want to be in the city when the riots break out.

And I don’t plan on being here in Chicago when the coming civil strife erupts either.

I split town several months after writing all that.

You can read Armstrong’s entire blog post on his company’s website here. Disturbing stuff for citizens of “Madiganistan.”

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. The creator/Editor of this blog is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information contained herein.)

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Rich Dad Author Robert Kiyosaki: 2016 Market Meltdown ‘Right On Schedule’

The last time I blogged about Robert Kiyosaki, the American entrepreneur, educator, investor, and author of The New York Times best-selling book Rich Dad Poor Dad talked about precious metals in a January 27, 2016, GoldSeek.com Radio interview. From his exchange with host Chris Waltzek:

WALTZEK: People taking a longer-term perspective, picking up some precious metals. You get that diversification. You can sleep a little more soundly at night. And you also know that you’re getting silver at 66 percent off, gold 40-45 percent off the highs. So where’s the risk there?
KIYOSAKI: The risk is not having it. And that’s why I’m laughing about Saturday Night Live and I can’t tell Fox from Saturday Night Live because those guys are a bunch of cartoons up there now. And those are the guys you’re going to count on for your economy? Give me a break. I mean, right now I trust in gold and I trust in silver. I don’t trust the stock market. I don’t trust the Fed. I don’t trust our leaders. I don’t trust the EU to not come apart. You have Puerto Rico in serious trouble. I mean how many other things have you got out there? And you look at the national debt- it’s now $20 trillion. If you want to believe Saturday Night Live characters then you just keep believing. But I’d rather have gold and silver.

The author of the recently-released Second Chance: for Your Money, Your Life and Our World also informed listeners he got out of stocks “fully” last March.

Last week, I spotted a piece about Kiyosaki on MarketWatch.com. Barbara Kollmeyer reported on March 23:

Fourteen years ago, the author of a series of popular personal-finance books predicted that 2016 would bring about the worst market crash in history, damaging the financial dreams of millions of baby boomers just as they started to depend on that money to fund retirement.

Broader U.S. stock markets are recovering from the worst 10-day start to a year on record. But Robert Kiyosaki- who made that 2016 forecast in the 2002 book “Rich Dad’s Prophecy” – says the meltdown is under way, and there’s little investors can do but buy gold or silver and hope the Federal Reserve slows the slide.

Kiyosaki is convinced: The pullback he predicted is happening.

“We’re right on schedule,” he said in a recent interview with MarketWatch…

(Editor’s note: Bold added for emphasis)

Kollmeyer added later:

Kiyosaki told MarketWatch that the combination of demographics and global economic weakness makes the next crash inevitable — but the Fed could stave it off with another round of quantitative easing, which might stimulate the economy…

“The big question [whether] we do ‘QE4,’” said Kiyosaki. “If we do, the stock market will come roaring back, but it’s not rocket science. If we stop printing money, it crashes; if we print money, it goes up. But, eventually, it’s all going to come down.”

(Editor’s note: Bold added for emphasis)

To combat the crash, Kiyoski still places his trust in gold and silver, among other things. From the piece:

He thinks investors should own some gold or silver, based on the view that central banks will just have to print money to get out of the next crisis and precious metals are often deployed as a perceived hedge against inflation. Some investors, meanwhile, might look for investments geared toward income, such as rent payments or dividends, rather than appreciation.

“If you know what you’re doing and are investing for cash flow, baby boomers — or any investors — may see some gains,” he said. “But for those whose wealth is tied up in the [equity] markets, it’s more like gambling than investing.”

(Editor’s note: Bold added for emphasis)

An excellent interview of Kiyosaki by MarketWatch, which you can read in its entirety over on their website here.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. The creator/Editor of this blog is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information contained herein.)

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    Here are the latest limited-time specials from offshore safe deposit box facilities listed on this blog’s sister site (link included to web page where each promo is displayed): Africa Nigeria Bulwark Vault & Safes Deposits Ltd. (Lagos)- “Join the Bulwark Membership Club. 25% Off Rent & Renewal- Premium Platinum. 15% Off Rent & Renewal- Platinum. […]
  • Related Reading: In-Depth Look At Dublin’s Merrion Vaults
    It’s been a while since I last blogged about the Dublin, Ireland-based private vault Merrion Vaults (although I have talked about co-founder/director Séamus Fahy more recently as it related to their sister safe deposit box facility, Glasgow Vaults). Anyway, I recently spotted an article on Irish website Fora (“Business news and insights for Ireland’s startup […]
  • Latest Additions To List Of Offshore Private Vaults
    Here are new entries to that list of offshore private vaults on my website of the same name: • City Bunker (San Pedro Garza García, Mexico- translated) • Hausler (Córdoba, Argentina- translated) • Punta Carretas Cofres Fort (Montevideo, Uruguay- translated) • Service & Meetingpoint Saxenwald (SMS) (Reinbek in Hamburg metro area, Germany) • Telesforo Gestión […]