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

Tesla’s Revenues +2%, Auto Revenue +0.7%. Net Income Plunges 25%. Without “Regulatory Credits,” it Would Have Lost $28 Million. Annual Loss Hits $862 Million. Shares Spike 12%

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OK, let’s look at the Tesla magic briefly. By Wolf Richter for WOLF STREET. Tesla’s profit was all about Tesla’s pollution credits, or “regulatory credits,” as it calls them. These are tax credits that Tesla gets from governments and sells to other companies. There is no cost associated with them; they’re booked as revenues and flow through to… 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


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It’s been a while since I have written about German bunds and other nuttiness in the European fixed-income markets.  Although I am still long-term kodiak-grizzly-bearish on European bonds, I have had the good fortune to make friends with Mattia Parolari from Barclays Bank in Paris.  Mattia is an institutional rates strategist specializing in European fixed-income.… 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