Gold Mine Output Falls for First Time Since 2008

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January 30, 2020  by SchiffGold  0   0 After flat-lining over the last several years, gold mine output fell by 1% in 2019. This is further evidence that we could be heading into a long-term and perhaps irreversible decline in gold mine production. According to the World Gold Council, total gold mine output in 2019 came in at 3,463.7… Read More

Coronavirus and the "Unsinkable" Titanic Analogy

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Unthinkable doesn’t mean unsinkable. As we all know, the “unsinkable” Titanic suffered a glancing collision with an iceberg on the night of April 14, 1912. A half-hour after the iceberg had opened six of the ship’s 16 watertight compartments, it was not at all apparent that the mighty vessel had been fatally wounded, as there was… Read More

Then & Now: Portugal's Drug Decriminalization

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During the 1990s, Portugal was devastated by a drug crisis where one in every 100 people became addicted to heroin and the rate of HIV infection soared to become the highest in the European Union. But, as Statista’s Niall McCarthy notes, Portugal’s radical move to put an end to the carnage should prove an example to other… Read More

HK's Melco cooperating with Japan casino bribery probe – source

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TOKYO (Reuters) – Hong Kong casino operator Melco Resorts & Entertainment Ltd (MLCO.O) is cooperating with Japanese prosecutors in a widening bribery investigation of a senior Japanese ruling party lawmaker, a source said on Wednesday. “Tokyo prosecutors sent Melco a letter and visited the office on Jan 17 after receiving no reply,” said the source,… Read More

China’s Coronavirus Is The New Trade War

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According to analysts and economists who watch these things, Germany’s IFO Business Climate Index was expected to continue its rise. Having purportedly bottomed out back in September, like other sentiment indicators this one had been on the rebound, too, if, though, much less than those others (especially the “stimulus” loving ZEW). While maybe not suggesting… Read More

Is the Market Grossly Underestimating the Potential Impact of the Coronavirus Epidemic?

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The potential for a consequential disruption in China’s supply chains appears to be vastly under-appreciated. Despite the current drop in stocks (less than 1.5% as this is written), there’s a tremendous reservoir of complacency about the economic and financial impact of the coronavirus epidemic. The zeitgeist reflects an implicit confidence that the coronavirus will blow over like the… Read More

Some Practical Questions about the Coronavirus Epidemic

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Restrictions that allow a significant number of people to move about, either with official approval or unsanctioned “black market” activity, cannot stop the spread of contagious diseases. Like everyone else, I’ve been reading the mainstream media reports on the Coronavirus epidemic. I haven’t found any information about the practicalities that immediately occur to me, such… Read More

Stock Rover Review: One-Stop Shop for Comparing Stocks

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How Do You Research Stocks? Some people prefer using Buffetology, Magic Formula, or even filters such as Altman-Z scores. If you’re one of them, then this Stock Rover review has got you covered. Today, we are going to take a look at Stock Rover. Stock Rover is a subscription-based analysis software service. It offers resources… Read More

Is Another Black Death On The Way?

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Authored by Eric Margolis, Plagues from the east are nothing new… The Black Death and other epidemics arrived in Europe from China during the 1300’s, killing a large percentage of its population. Much of this pestilence came from rats that stowed away on merchant ships coming from the east. At the end of World War… Read More

Tesla’s Global Deliveries Compared to the Top 10: Volkswagen, Toyota, GM, Ford, Honda, FCA, Mercedes… Here’s the Chart

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Tesla’s Stock Makes it the Second Most Valuable Automaker in the World. But How About its Size? By Wolf Richter for WOLF STREET. Tesla shares took a little dip today, but no biggie. They still produce an astounding market capitalization of $102 billion, “astounding” not because the market cap per se is huge – there are now some… Read More

Junior Gold Stocks Soar, Even When Gold Doesn’t

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Junior gold stocks are high-risk and high reward. In a strong gold bull market, you can throw darts at a board and come out a winner. But the absolute monster returns that add extra digits to your net worth will only come from the top companies. How High Can Junior Gold Stocks Go? The table… Read More

A ‘High-Level Exercise’ Conducted 3 Months Ago Showed That A Coronavirus Pandemic Could Kill 65 Million People

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Just over three months ago, a “high-level pandemic exercise” entitled “Event 201” was held in New York City.  On October 18th the Johns Hopkins Center for Health Security, in conjunction with the World Economic Forum and the Bill & Melinda Gates Foundation, brought together “15 leaders of business, government, and public health” to simulate a… Read More

Union Pacific Cut 17% of its Workers, Will Cut 8% in 2020. Revenue Fell 9.5%, Income 10%. Bought Back $5.8 Bn in Shares. Stock Hits New High

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US Union Pacific 2020 Q4 share buybacks

Its debt surged to fund the share buybacks. And truckers ate its lunch. But don’t tell any of this to the “market.” By Wolf Richter for WOLF STREET. The first thing to know about Union Pacific’s earnings, which it released this morning, is that  despite cutting its workforce by 17%, promising more layoffs in 2020, experiencing a 9.5%… Read More

"I Don't See Her In Beijing Or Delhi" – Niall Ferguson Slams Davos' "Virtue Signaling" Greta Fanboys

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Climate activist Greta Thunberg addressed the world’s elite face-to-face at the World Economic Forum in Davos yesterday, admonishing the grown-ups in the room for their lack of panic: “We don’t want these things done in 2050, 2030, or even 2021,” Thunberg said. “We want this done now.” The 17-year-old demanded participants “from all the companies,… Read More

The Great American Shale Oil & Gas Bust: Fracking Gushes Bankruptcies, Defaulted Debt, and Worthless Shares

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Texas at the epicenter. We’re witnessing the destruction of money that loosey-goosey monetary policies encouraged. By Wolf Richter for WOLF STREET. Following the sharp re-drop in oil and natural gas prices in late 2018, bankruptcy filings in the US by already weakened exploration and production companies , oilfield services companies, and “midstream” companies (they gather, transport, process, or… Read More