The verdict is out from yesterday's crucial Italian referendum. Prime Minister Matteo Renzi and his much-lauded political and constitutional reforms were officially repulsed. Now Italian President Sergio Mattarella must decide if he will call for new elections well ahead of the planned 2018 polls. If he does, the latest anti-establishment populist candidate Beppe Grillo and his 5 Star Movement will win the election and begin another more potentially damaging referendum on Euro membership that could have far reaching consequences for your investments. Five Star Movement is the establishment's worst nightmare. It is a dangerous marriage between EU-skeptic ideas and progressive… Read More

  It has not been more than a few weeks since India stunned the world by declaring war on its largest denominated banknotes. The latest battle in the war on cash has since transpired in the "land down under," Australia. Swiss banking giant UBS recently proposed getting rid of Australia's $50 and $100 bills. They had the nerve to declaim this would be both "good for the economy and good for the banks." Sadly, this is far from the first instance of a financial institution calling for a society without cash in Australia, or for that matter anywhere other than… Read More

  There has been considerable speculation that higher interest rates are inevitable since the surprise election victory of Donald Trump as U.S. President. The problem is that few economists are contemplating the consequences on the enormous amount of debt the Federal government has wracked up since interest rates were last at a historically more normal five percent rate. Consider that the Federal debt today is over $19.867 trillion. This makes it literally larger than the whole American economy, with a Debt to GDP ratio of 106 percent. In only the first 45 days of the 2017 fiscal year, another $294 billion… Read More

  After a long year of sitting on the sidelines, the Federal Reserve is likely to start raising interest rates as soon as next month. They found reason after reason to hold off throughout the majority of 2016. For March, they abstained from higher rates because the jobs report came out extremely weak. When June came around, they punted because of the market volatility and fears regarding the world economy. In July they were afraid of a Brexit referendum results induced contagion. By September, their excuse was that they still waited for an improvement in the U.S. jobs market. In… Read More

  The results of Trump’s election have caused a significantly different effect on the markets than analysts and economists predicted. Stocks did not crash and burn for more than a few hours. They have instead risen dramatically to mark new all time highs. Volatility demonstrated by the VIX has calmed to historically reasonable levels too. Despite this, many any have expressed concerns over President Elect Trump’s trade and economic policies. These will have a real impact on your personal investments going forward. Though Trump has significant successful business experience, he has never governed. Consider that Mr. Trump goes to Washington… Read More