RichC | February 28, 2024
Court ‘Didn’t Stop Me’ – “ The President ignores the law again as he forgives more student debt. The total is now $138 billion and counting.” WSJOpinion February 23, 2024 article link He’s not really cancelling anything because he’s transferring the debt from the borrowers it benefited to the taxpayers who will finance it with […]
RichC | January 8, 2022
It feels like we are obliviously sailing on the Titanic and ignoring a financial storm on the horizon. We know that there is a debt iceberg ahead and yet have convinced ourselves that the United States is unsinkable … and so … continue our TRILLION dollar money printing and our unsustainable spending ways. Congress spends […]
RichC | October 20, 2021
Here’s a short video worth 5 minutes of your time to watch and to contemplate before Congress and President Biden makes our spending spree even worse. “You can’t spend what you don’t have indefinitely ..” – Stephen Moore for Prager University. LINK to video
RichC | December 22, 2020
With only a handful of meals out during this COVID19 year with my buddy Jeff this past year, I’ve learned to appreciate them even more than usual. We’ve been having lunch together each month or so as a way to stay connected for decades and for me adjusting to just emails and text messages is […]
RichC | June 24, 2020
By now we all have heard and know about the TRILLIONS we have borrowed and continue to borrow as a nation in deep debt, but few are willing to make any changes to the status quo before this house of cards comes tumbling down. What we don’t really thing about quite as much are the […]
RichC | June 21, 2019
Taylor is my millennial antagonist when it comes to discussing politics, investing and both government and personal finances. We both enjoy debating, so it’s cool most of the time. He is also a product of his generation just as I am of mine. We view the role and expanse of government differently when it comes […]
RichC | November 13, 2018
After Monday’s selloff (see below), what lies ahead for the U.S. economy? That thought has some of seriously thinking the next economic downturn could come sooner rather than as expected … later. The sell off … "again" … has me wondering if we are prepared for the next recession? Is the U.S., or the world, […]
RichC | February 8, 2018
So much for the "good news" that tax cuts will eventually providing revenue by helping the economy grow. The "hope" is that over time the economy growing will put more people to work (it is) and that the snowball would eventually grow paychecks (it is) AND that we could begin to reduce our country’s yearly […]
RichC | December 16, 2017
With all the buzz around Bitcoin and bubbles, the really big financial crisis being somewhat overlooked is Student Loan Debt. The number of Americans struggling to pay back the money they borrowed for their education is mindboggling. The WSJ reported that Nearly 5 Million Americans are in Default on their Student Loans … and there […]
RichC | June 4, 2017
From a small business perspective, excessive debt is near the top for reasons entrepreneurs fail in business. In my experience there are bankers and leasers with terms in the lenders favor, but not in the borrower’s favor. Bankruptcies are harmful not only to the person and family going through the ordeal, but on the creditors […]
RichC | February 20, 2017
Happy Presidents Day … if you can still smile after the lack of discipline and leadership.
RichC | December 15, 2016
Forgiving debt and bankruptcy options aren’t new, but those of us who strive to “play by the rules” often feel like suckers when it comes to bureaucrats playing fast and free with tax dollars … or with OPM. While it is understandable that our society wants to be compassionate and lend a helping hand to […]
RichC | August 26, 2016
Using the equity in a home isn’t anything new, but I’m old enough to remember when "we" first started to tap into home equity with Home Improvement Loans. "Back in the day" IRS deductions for interest on consumer credit (car loans, revolving credit, signature loans) were being phased out for all but home mortgages. Creative […]
RichC | August 24, 2014
The stock market roars to new highs as the summer comes to an end, but investors continue pouring money into higher risk equities as if they have forgot what can happen. This is in part due to the low yield in fixed income assets and the new indice highs have more than a few economy […]
RichC | July 2, 2014
I’ve been doing some reading lately from those concerned about an uptick in inflation. Since many of the writers are the same people who have been warning for years about inflation, it is easy to take their analysis with a yawn and a bit of skepticism. Still, my commonsense indicator has also kicked in […]
RichC | October 2, 2013
In my pile of books, I’m reading one co-authored by Robert Wiedemer called “Aftershock Investor” and he is anticipating, after he accurately pinpointed the housing bubble, that we are nearing two additional bubbles. First, he highlights the dollar bubble as the Fed’s “quantitative easing” continues … followed by the government debt bubble as at the […]
RichC | May 1, 2013
Erskine Bowles gave his pitch on CNBC’s Squawkbox Wednesday morning although doesn’t seem to be making much headway with the politicians who refuse to face reality. Neither Republicans or Democrats seem willing to negotiate our future solvency — looks like we’ll need another crisis before real reform is made in Washington DC. I found it […]
RichC | November 21, 2011
The financial markets responded negatively Monday morning to the general conclusion that neither Europe or the U.S. can come to agreements over out of control spending. The congressional super committee charged with coming up with a solution telegraphed failure this weekend as neither Democrats or Republicans seem interested in compromising their positions. I ask you, […]
RichC | August 23, 2011
Hopefully this will be the last year we’ll be paying for college expenses. This may make me a bit more in-tune to the high cost of college. Unfortunately for many students planning or going to college, the continual rise in tuition and living expenses has made it impossible without taking on significant debt. Some financial […]
RichC | August 7, 2011
Panic … it is going to be the big issue for financial markets come Monday morning. It won’t be pretty. Is there really a difference between where we were last week (after the debt ceiling increase) and where we will be on Monday morning? No, not really, but unfortunately Standard and Poor’s downgrade (PDF) of […]
RichC | July 31, 2011
For many of us, getting a visual picture regarding the debate polarizing the country around the nation’s debt and deficit is helpful in understanding just how big the problem is. I found a WSJ graphic to be a clarifying example as to the gap between what we spend and what we take in as a […]
RichC | July 26, 2011
As Washington DC politicians debate how to deal with the U.S. debt ceiling and rapidly climbing debt, investors are faced with the growing possibility of default or at minimum a very real likelihood that we’ll see our nation’s credit standing slip. Individuals, companies and the government seeking to borrow money will see interest rates increase […]
RichC | July 21, 2011
While Americans wait and watch politicians haggling in Washington DC, the stock markets seems to be banking on a deal. Mid day on Thursday, the NYTimes mid-day reported that President Obama and Speaker of the House John Boehner were close to a deal … only to have Whitehouse spokesman Jay Carney quickly say that there […]
RichC | July 18, 2011
Far be it from me to defend the “corporate jet” crowd, but am I the only one who wonders what numbers President Obama is talking about when they advocate that wealthy in America “pay their fair share.” I’ve looked at most of the numbers and no matter how you slice the pie, those earning over […]
RichC | June 3, 2011
At age 85, former Federal Reserve Chairman Alan Greenspan talked candidly with the CNBC hosts this morning about the looming “debt ceiling” debate and more importantly our country’s lack of unity in addressing our deficit spending. Interestingly he is currently supporting some increases in taxes as a compromise realizing that in a divided government one […]