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John T. Reed’s news blog

Trump’s trade war

Posted by John T. Reed on

A tariff is a tax on certain imports to a country levied by that country on those who purchase the targeted imports. All tariffs are corrupt. They allow the protected industry or company to raise their prices up to the world cost of the import plus the amount of the tariff. Politicians vote for tariffs, or in the case of the President, put them into effect by executive order pursuant to statute, in return for campaign contributions and votes from the leaders and workers of the companies that are protected from normal international competition by the tariff. Put crudely, the...

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64% of Venezuelans lost 25 pounds in 2017 because of hyperinflation

Posted by John T. Reed on

I have a sense that readers think I am exaggerating how bad hyperinflation is. Venezuela, which is the main hyperinflation in the world today, has seen its GDP fall 40% since 2013. The people are starving literally. 64% of respondents to a survey there said they lost 25 pounds in 2017.This is why I say you must get out of a hyperinflated country if you find yourself in one. That requires a little preparation before the ’flation hits the fan. Preparation that is quite easy if you do it in time. But near impossible if you wait too long..Is America Venezuela?...

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Impeach Trump before his Trade War takes over the world economy

Posted by John T. Reed on

Trump needs to be impeached immediately to head off the trade war he has declared. His appointees who support that trade war, namely Commerce Secretary Ross and Trade Representative Lighthizer, should be fired immediately.I am not trying to punish him, I am trying to stop the trade war. He has turned himself into a colossal mistake made by American voters in 2016. I don’t care whether he goes to the Leavenworth Penitentiary or Mar-a-Lago. I voted for Gary Johnson.The foreign leaders who have threatened retaliation for this should also be impeached or whatever it’s called in their countries. There is...

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Trump trade war echoes the trade war that started the Great Depression

Posted by John T. Reed on

 Trump announced big tariffs on aluminum and steel. That sort of thing could start a world wide trade war which many think triggered the Great Depression. Back then, it was a U.S. law called the Smoot-Hawley Tariff.I hoped he was just bluffing. Apparently not. I and others have said he was playing with fire in this regard. Now he looks like he has started a fire.My book How to Protect Your Life Savings from Hyperinflation & Depression, 2nd edition tells you what to do to avoid being financially devastated by a new depression.A couple of main points: USD debt that...

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I had a stroke

Posted by John T. Reed on

As part of my continuing efforts to “walk point ”medically for readers my age and younger, I had a stroke Saturday. Well, not quite  a stroke. It was a Transient Ischemic Attack (TIA). Close enough. I call it a “free sample of a stroke.” I had the symptoms of a stroke. I got a security guard at the mall to call 911. I spent 24 hours in a hospital getting the various tests. It was a “free sample” because I suffered no brain damage. But having a TIA means you are more likely to have a full-blown stroke thereafter. I...

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