No rest for the wicked.
Harry’s meant to be on vacation this week. As such, we’d prepared his articles to you this week in advance. And in my humble opinion, they’re as fantastic as ever. Must reads!
But this morning he called me to say he’s just seen a statement from the BIS – that’s the Bank for International Settlements in Switzerland – and we’ve got to let Survive & Prosper readers know about it.
“Harry, you’re not supposed to be working,” was my response.
“Yeah, yeah… this is important. What’s the best way to get this out to the guys today?”
And here you have it…
To summarize, Harry is practically falling off his chair because there is finally another voice of reason backing up what he’s been saying for years. Finally, someone else – someone with some clout – gets it.
Austerity IS necessary.
In short, the BIS’s statement warns central banks around the world that they must stop retarding economies with loose monetary policies. Instead, we must finally make the necessary reforms to our balance sheets… we must write down loans… we must do the hard work necessary to return to health.
This central bank of central banks says that the low interest rates and quantitative easing since 2008 has not been used well…
That if this craziness isn’t stopped now, any further action will simply compound the risks they’ve already created.
Quantitative easing should be for emergencies only. For when a tsunami hits or a major bank melts down.
It should NOT be used to cover up structural problems.
Harry has practically fallen in love with the guys at BIS.
When you listen to Harry’s call to you, you’ll understand why. You’ll also hear why this is important to you.
P.S. Because we changed today’s issue last minute, and because Adam’s working on the July issue of Boom & Bust, out soon, there’s no Ahead of the Curve article today. No matter, Adam will be back tomorrow with his usual contribution.
P.P.S. Once a month, Harry prepares webinars for his lifetime subscribers. It’s like this special call to you today, only infinitely more detailed, with charts and supporting research. And it’s accompanied by quarterly Economic Outlook reports. Harry’s actually putting on the finishing touches of the latest webinar – a mid-year update and forecast – which we’ll broadcast on July 5. Because this is such an important event, we’re making arrangements to give you access to this presentation. We’ll have more details for you by mid-week, so keep a look out for that.
Ahead of the Curve with Adam O’Dell
When we wrote about the nauseating rise in healthcare costs earlier this month, I told you about one investment that should actually benefit from this dire situation: Omega Healthcare Investors (NYSE: OHI)… a real estate investment trust (REIT) that rents space to low-cost healthcare providers, like skilled nursing facilities.