CNBC: Here come the defaults: credit outlook darkens … Peter Schiff: We’re in the eye of the financial hurricane … China offers a way to eliminate US trade imbalance … Hedge funds suffer massive $22.5 billion in Q4 outflows … Gold and silver trending up; billionaire investor Sam Zell buying gold “for the first time […]
Gold Is Up Lately. Why Does It Feel So Disappointing?
Since December gold (light blue line) has outperformed the average stock (dark blue) by a nice margin. So why does this feel like such a let-down? Because the stars were aligned for a much bigger move. The structure of the late 2018 futures market had speculators historically short – which normally portends a big price […]
With AOC, The Dems Get Their Sarah Palin
It’s easy to forget, in light of subsequent events, how terrified the Democrats once were of Sarah Palin. As an attractive Christian woman with a bunch of kids, who apparently liked to hunt moose with her hunky husband, she was an arrow aimed at the heart of a long list of liberal convictions. Watch her […]
And The Verbal Part Of The Civil War Begins
With the election of Donald Trump, the US right let its id off the leash. Now pretty much everything conservatives have thought but not said is finding its way to Facebook, Twitter, and the evening news. So it’s no surprise that the left, wildly envious of conservatives’ newfound rhetorical freedom, have decided that what’s good […]
Top Ten Videos — January 12
Michael Oliver: “Once gold breaks $1,300, $1,750 will happen quickly. And I like gold mining stocks better than gold” … Lynette Zang: “Doom loops” you need to understand … McAlvany: “Be the dip… I mean buy the dip” … Peter Schiff: “Blind Fed leading blind investors over a financial cliff … […]
Recession And Stocks In Free-Fall: Michael Pento’s 2019
Money manager Michael Pento has been bearish on both stocks and bonds for some time. 2019 is the year, he says, when the big crash finally arrives. Some Predictions for 2019 Bond Yields Continue to Fall in First Half of Year The bond bubble continues to build and become a dagger over the worldwide economy […]
Jay Taylor: Gold Is The Go-To Safe Haven Of 2019
2019 is looking like one of those either/or years, where growing financial instability leads to either a 2008-style financial crash or another round of asset inflation. In Jay Taylor’s latest newsletter, he concludes that both scenarios are good for gold: Which Safe Haven Markets Will Dominate in 2019? If we are, as I believe, on […]
Three Things That Will Definitely Happen In 2019
Much about 2019 is uncertain. But a few things are pretty much guaranteed, including the following: Government debt will rise at an accelerating rate Like a life-long dieter who finally gives up and decides to eat himself to death, the US is now committed to trillion-dollar deficits for as far as the eye can see. […]
Gold Mining Stocks Are Going Up Faster Than Gold
The past couple of years have been brutal for precious metals mining stocks. Gold and silver went down a little while the miners went down a lot – four times as much to be exact. That’s painful but not surprising. The miners, being in effect options on the underlying metals, tend to be a lot […]
California Is In Great Financial Shape – And Headed For An Epic Crisis
California Governor Jerry Brown inherited a $27 billion deficit from Arnold Schwarzenegger eight years ago. This month he’s leaving his successor a $13.8 billion surplus and a $14.5 billion rainy day fund balance. Pretty good right? Approximately 48 other governors would kill for those numbers. Unfortunately it’s all a mirage. California, as home to Silicon […]
Michael Pento: Finally, Corporate Stock Buybacks Blow Up
The last few years of the Everything Bubble were driven by the ultimate dumb money: corporations borrowing to buy back their stock at record high prices. A whole generation of CEOs and CFOs were able to pad both their reputations and their year-end bonuses this way while, it seemed, blatantly screwing over their employees and […]
All (Political) Roads Lead To Massively Higher Government Spending
The past few years have seen more than the usual amount of political upheaval. But, interestingly, most regime changes have resulted in pretty much the same thing: Higher government spending and bigger deficits. Apparently the only “reforms” today’s voters will accept – which is to say the only actions that don’t get a leader kicked […]
The Yield Curve Flattens And Bank Stocks Plunge. Here’s The Connection – And The Prediction
Despite all the ominous press being devoted to the soon-to-be-inverted yield curve, it’s not always clear why such a thing matters. In other words, how, exactly does a line on a graph slipping below zero translate into a recession and equities bear market, with all the turmoil that those things imply? The answer (which is […]
Check Out This Lost Classic “Peter Schiff Was Right” Video
I thought I’d seen all the “Peter Schiff Was Right” videos, but just stumbled onto this 2006 CNBC classic pitting Schiff against a new cast of (in retrospect) clueless antagonists, including a “chief economist” with some quaintly credulous ideas. This was the peak of the subprime mortgage mania, so the Bubblevision talking heads still considered […]
The World’s Biggest Hedge Fund Is Getting Whacked, And Why “Moneyness” Matters
A few years ago the Swiss National Bank (SNB) – which traditionally held “monetary assets” like government bonds, cash and gold to back up the Swiss franc — decided to branch out into common stocks. This was a departure, but for a while a brilliant one. The SNB loaded up on Big Tech like Apple, […]
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