That was fast! Wells Fargo already ran out of money for small businesses

I think one of the funniest movies of the 1980s was Brewster’s Millions.

In the movie, Richard Pryor plays Monty Brewster, a minor league baseball player who finds out that he is in line to inherit a vast $300 million fortune.

In order to inherit the money, though,[...]
  • Simon Black
  • April 7, 2020
  • Bahia Beach

The global food supply chain wasn’t designed for this

In the early 1980s, doctors and medical researchers around the world were confounded by the growing number of young, otherwise healthy patients who were dying of rare infections that typically only occurred in people with very weak immune systems.

The situation was so alarming that the CDC in the[...]
  • Simon Black
  • April 6, 2020
  • Bahia Beach

Congress proposes 50% tax on guns and ammunition in the US

Are you ready for this week’s absurdity? Here’s our Friday roll-up of the most ridiculous stories from around the world that are threats to your liberty, your finances, and your prosperity… and on occasion, poetic justice.

Street Gangs enforce lockdowns in Brazil

Last week we highlighted how Brazil’s president claimed[...]
  • Simon Black
  • April 3, 2020
  • Bahia Beach

There’s a major sovereign debt crisis looming

By the mid 1300s, the Republic of Florence in modern day Italy had experienced one of the greatest economic booms in human history.

In less than a century, Florence had grown from a tiny, irrelevant backwater to become one of Europe’s largest cities and preeminent financial center.

  • Simon Black
  • April 2, 2020
  • Bahia Beach

I screwed up

First thing’s first-- I screwed up.

Yesterday I wrote to you about the US government’s initiative to loan money to small businesses, and I was wrong about an important detail.

I said the maximum amount of the loan was equal to 2.5x a company’s annual payroll expense. That’s[...]
  • Simon Black
  • March 31, 2020
  • Bahia Beach

The ‘Small’ Business Administration is now bigger than Walmart

[Editor's note: this article was corrected on 30 March 2020; the proper way to calculate your loan is based on your average monthly (not annual) payroll multiplied by 2.5]

As you’ve probably already heard, the US government unleashed a giant tsunami of money on Friday, passing a $2 trillion[...]
  • Simon Black
  • March 30, 2020
  • Bahia Beach