Golden Legends Tales of Buried Treasure

  🧩 What a “Credit Reset” Actually Means A credit reset refers to a broad tightening or repricing of credit across the financial system — usually triggered by rising interest rates, higher default risks, or regulatory pressure. When this happens, loans become more expensive, borrowing slows, and lenders reassess the value of the debt they hold. For pension funds, which increasingly invest in private credit and other debt‑based assets, a reset can directly affect portfolio values and long‑term funding stability. Pension plans like CalPERS, STRS Ohio, and ASRS now hold meaningful allocations to private credit — 4%, 9.5%, and 13.6% respectively. 🏦 How Pension Funds Are Exposed 1. Private Credit Investments Become Riskier Many pension funds have expanded into private credit because it offers higher yields and diversification. But during a credit reset, these loans face: Higher default risk Lower liquidity More volatile valuations The U.S. Treasury has recently begun examining how p...

  Updated on February 22, 2020 John was a Navy hospital corpsman. He worked the general sick bay, managed a carrier O.R., and treated heat rash, eczema, and dyshidrosis Remember, this article is for information only. When you have a medical problem, alway visit your physician or health professional for advice and treatment. Lightly reddened skin and tiny blisters There's More to the Puzzle In this article I will relate a personal experience with atopic dermatitis in an attempt to show a pattern of symptoms. Intertwined will be medical material gleaned from research on the Internet. The interest I have in this topic derives from what I initially thought was a voodoo type diagnosis based on strange procedures. In truth, I thought the doctor who first helped me with an acute outbreak of atopic dermatitis had had too much to drink. That Red Sign Spelled Relief When I was 19 (in 1969) and serving in the U.S. Navy, I woke up one early morning about 1:00 a.m. feeling a bit warm and itchi...

Mortgage rates continued their upward climb for the seventh straight week, pushing the average long‑term U.S. home loan rate to its highest level in nearly three years. According to mortgage buyer Freddie Mac, the benchmark 30‑year fixed‑rate mortgage rose to 7.40%, up from 7.28% the previous week and well above the 6.30% average seen a year ago. This marks the highest level since mid‑November 2023, when rates reached 7.44%.  The persistent rise in mortgage rates has weighed heavily on the housing market throughout the year, adding hundreds of dollars to monthly payments for many borrowers, reducing purchasing power, and causing potential buyers to delay home‑buying plans. Rates for 15‑year fixed‑rate mortgages, often used by homeowners refinancing existing loans, also increased, climbing to 6.73% from 6.60% the week before. A year earlier, that rate stood at 5.53%.  Much of the recent surge in borrowing costs has occurred since the start of the U.S. war with Iran in late Feb...

  Updated on June 12, 2025 John has recycled metals most of his life and is fascinated by waste that has value. Recycling made him aware of its necessity—and worth. You can find treasures in the most unlikely places, like in the cracks and crevices of a sidewalk!   Treasure in the Sidewalks Nothing could be more blasé than walking, head bent down, and passing concrete sidewalk sections and expansion joint dividers, one after another. But in bustling urban jewelry quarters, a new kind of gold prospecting is taking place. Gemstones, silver, platinum, and especially gold are being mined from sidewalk cracks full of years' worth of traffic dirt from customers walking in and out. A dime a dozen, we've all heard it. But did you know that in our current world, fracking sand sold for $34 a ton in 2018? A ton of sand occupies the space of 2.7 feet by 2.7 feet x 2.7 feet. Worthless sand? Shoe Soles May Be a Cornucopia You see, minuscule pieces of precious metal can be retrieved from thi...

  Overview Thrifting isn’t just about shopping at secondhand stores. In economics, it refers to a broad behavioral pivot: consumers begin prioritizing value, durability, and price sensitivity over convenience, novelty, or brand prestige. This shift is one of the earliest indicators that households are feeling financial pressure or anticipating future instability. Economists watch for thrifting because it often appears months before changes in GDP, unemployment, or consumer confidence surveys. 1. How to Identify Thrifting Behavior in an Economy A. Rising Demand for Secondhand and Resale Markets When consumers thrift, resale platforms and secondhand stores see: Higher foot traffic Increased inventory turnover Growth in categories like tools, appliances, clothing, and electronics This shift is measurable through: Resale platform transaction volumes Increased listings on local marketplaces (Facebook Marketplace, Craigslist) Growth in thrift‑store revenues Why it matters: Secondhand ...