Doug Casey on the Real FIFA Scandal

Posted on August 18, 2015 by MN Gordon

Doug Casey on the Real FIFA Scandal
By Doug Casey, The Casey Report

The truth be known, I really don’t give a damn about soccer.  Nor do most Americans.

Indeed, until recently, all that most Americans knew about “football” was that Brandi Chastain ripped off her jersey, to display a great physique, after she scored the winning goal for the US in the 1999 FIFA Women’s World Cup playoff against China.

However, “football”, as it’s known to the 6.7 billion non-Americans on the planet, is revered by the rest of the world as a secular religion.

But now football, and FIFA, the sport’s governing body, is in the news because of an alleged corruption scandal.  Let’s not discuss the details of who was bribing whom, and where all the money went, for two reasons.

First, that’s all over the Internet, and you don’t need me to repeat it here.

Second, and much more important, it’s really none of our business.  Despite the fact that the FBI has taken it upon itself to prosecute at least 14 FIFA officials for corruption. Continue reading →

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The Fatal Dangers of a Fading Bull Market Run

Posted on August 14, 2015 by MN Gordon

It is too bad that mobile devices don’t set off a signal before their users do something terminally stupid.  Perhaps a warning alarm would help them change course.  Rather than texting and walking in front of a city bus, the preoccupied mobile user would be signaled to look up before stepping off the curb.

Instead, mobile devices offer an intoxicating distraction.  They actually entice people to do things they’d otherwise know better than.  Add the glory of capturing a public jaw dropper real-time and instantly posting it to YouTube or Instagram and the opportunities for stupidity are endless.

Social network users don’t stand a chance.  Take poor David Mellado Lopez.  The man thought he was using his mobile phone to film something astounding early Sunday morning.

He was, no doubt, marveling at his footage of a motionless bull lying on the ground just before something even more astounding happened.  In hindsight it would’ve been better to have stayed in bed that morning. Continue reading →

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Are You Prepared for a Slow Growth Economy?

Posted on August 11, 2015 by MN Gordon

When a motor vehicle stalls out it is often because the engine has been overloaded.  Parts and components have become worn down – or gummed up.  Fuel and electrical systems misfire or no longer fire at all.

Sometimes all it takes is a quick and inexpensive fix to get things up and running again.  Replacing the fuel filter or spark plugs is all that’s needed.  Other times, like if the head gaskets are blown, the fix is expensive and tedious.

Just to replace the head gasket, the upper half of the engine must be removed and reassembled.  But even that won’t solve the problem.  To really fix things you need to repair what caused the head gaskets to blow in the first place.

Simply installing new gaskets will not fix the problem…they’ll just blow again.  Understanding and fixing what’s making the engine overheat is also necessary.  Yet, regrettably, it may be too late.

Severe engine damage may have already been done.  In these instances, it’s more economical to just scrap the car than rebuild the motor. Continue reading →

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Nothing Fails Like Success

Posted on August 7, 2015 by MN Gordon

Great wealth, like the seasons, is ephemeral.  One generation accumulates it.  While another burns through it.  The difference is dependent upon whether one has a short or long time horizon.

Do they save some seed corn for the next grow season?  Or do they munch it all down in a great big holiday feast?  Of course, the person who saves some seed corn ultimately grows wealthier…though some can’t get past their instant desires.

Others take undue risks with the family wealth.  Rather than preserving capital, they draw it down chasing foolish schemes to make more.  No doubt, these riches to rags stories are the most endearing.

The June 21, 2014, edition of Forbes Magazine tells the tale of the Stroh family’s methodical rise and swift disappearance from the beer brewing business.  “It took the Stroh family over a century to build the largest private beer fortune in America,” begins the print edition of the Forbes article titled, How to Blow $9 Billion.  “And it took just a few bad decisions to lose the entire thing.” Continue reading →

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