The United States has Encountered a Force it Cannot Stop Today, the United States has the privilege of issuing the global reserve currency. All around the world, countries save and transact with US dollars due to the Bretton Woods Agreement and the petrodollar system. The petrodollar system, which spawned from an oil deal between the Nixon administration and Saudi Arabia, enabled the US to maintain its role as the global superpower as it abandoned its peg to gold. This role, though, did not come without a cost. Wars started over oil in the Middle East have resulted in decades of death, destruction, and deficits. Further east lies the biggest threat to the US, China. China recognize...
3 Dynamics that Will Force Changes in the Insurance Industry
When Risk Becomes too Great Hurricane Dorian recently ravaged the Bahamas, leaving tens of thousands homeless. The Category 5 hurricane was even worse than expected. Unfortunately, as climate change worsens, the number of devastating weather events like Dorian will rise. Homes and businesses in coastal areas will grow increasingly exposed to the possibility of ruin. How, then, will high risk properties be insured? Will certain geographic locations ultimately be considered uninsurable? At what point will regions within Florida and the Bahamas be written off as lost causes? The insurance industry is beginning to undergo some big changes. Some of these changes are due to technolog...
3 Best Recession Proof Industries for the Morally Bankrupt
This Isn't Your Typical List The economy is beginning to show signs of a nearing recession. The yield curve has again become inverted. The trade war between the US and China continues on. And Europe is a mess. There are plenty of potential catalysts that could make the shaky market completely quake. Many people sense this and are growing anxious about the next recession. Some, however, see opportunity to make money at the expense of the financially distressed. In fact, I have no doubt that there are businessmen eagerly awaiting the impending collapse. Do you want to know which people are licking their lips at the prospect of profits? Below I'll share the 3 best recession proof indu...
Why the Latest Private Equity Fundraising Record Should Scare Us
Blackstone Sets a New Fundraising Record Blackstone, the biggest private equity firm in the world, will soon have the biggest fund in the world. Its latest flagship fund has already surpassed $22 billion, which puts it on target to exceed Apollo's record $24.7 billion fund. SoftBank proved that investors have a venture capital appetite strong enough to build the 9 figure Vision Fund. Mega-funds like these, defined as worth over $5 billion, now account for over 15% of private capital raised. There is clearly no shortage of investor capital private equity firms can target, which will soon result in a yet another fundraising record. That said, there is a shortage of targets to which c...
Financialization Continues to Fracture Society
Profit at the Expense of Patients A couple weeks ago, I booked an appointment with a dermatologist to get a skin condition looked at. It's nothing serious, but it nevertheless needs to be treated. The appointment was confirmed with an M.D. at a location I had visited previously. Prior to being seen, I waited in an office containing 4 advertisements for dermatological services. I couldn't help but take pictures, some of which are included in this post. Soon after I finished taking pictures, the door opened and in walked a woman I hadn't met before. She introduced herself as a physician assistant (P.A.) and told me she'd be taking care of me. While I had booked the appointment with a...
