Update: Recession Warning, Bitcoin & Smaller Government

Recession Early Warning? 

Well, it looks like the rich are tightening their belts. According to a report at Yahoo Finance, spending by the rich has slowed over the last year. This could be an early warning of a recession. Spending by the top 10% of households by income makes up nearly half of overall consumption in the US. 

I Want Less Government 

A lot of people want the rich to pay more taxes so that government can be bigger. I want the rich and everyone else to pay less taxes so that the government can be smaller. Less taxes means more freedom and prosperity. Let's make government smaller so the economy can be bigger! 

Early Bitcoin Buyers 

Not everyone who got into #Bitcoin early is ahead. Many took flyers on Bitcoin with small amounts of money early on. After the huge rise, thinking they were smart instead of lucky, they added much larger sums at much higher prices. So now they are down overall or soon will be.

This Rally Is Fueled By A Weak Economy

This stock market rally is being driven by a weak economy. It's a weak economy that's more instrumental in driving the market higher because the weak economy keeps the Fed in play. It keeps quantitative easing in play. It keeps interest rates going down.

U.S. - China Trade Deal

When Trump first announced Phase One he said it was already a done deal. Now it's delayed until sometime next year, if it ever happens at all. Trump should just see if he can get a Phase 1A deal done, or at least pretend that he can. That should be good for 500 more Dow points!

QE4, Pot Stocks, IPOs

Even as QE4 has pushed stock indexes to new highs, despite a weakening economy and the absence of a trade deal, not all stocks have gone along for the ride. Pot stocks have been smoked, falling 70% -90%. Bubbles are popping, and it will not be contained to pot stocks and IPOs!

Press Round Up: Bitcoin, Marijuana Stocks, A Weakening Economy

Peter Schiff has been mentioned often in the press in the last few days. Here's a summary of the most relevant article:


Peter Schiff States That Bitcoin Has Less Utility Than Pot - in U TODAY

Marijuana Stock Crash Could Affect Bitcoin Price, Peter Schiff Suggests - in International Business Times

Peter Schiff: Recession So Bad Coming, US Doomed to Default on National Debt - in Money and Markets

On a recent podcast episode, Peter Schiff told investors that the U.S. Economy is getting sicker,

“The economy is getting sicker. And that’s what the central banks are doing when they cut rates and they print money — they’re actually making the underlying economy sicker, even though it doesn’t look sicker because they’re just measuring the spending that goes on and they’re ignoring the debt that’s behind it.”