A Golden Opportunity For Precious Metals

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Via Dana Lyons’ Tumblr, The popular gold-based exchange traded product, “GLD”, is testing the Down trendline from its 2011 peak. I think most participants would likely characterize recent markets as exciting — or, at least, interesting. That’s because, despite historically depressed volatility indices, there has certainly not been a lack of movement. Stocks are soaring, […]

Trump Says CHIP Extension Shouldn't Be Part Of Stopgap Spending Bill

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Update: In what appears to be another unvetted twitter outburst, President Donald Trump tweeted Thursday that an extension for CHIP – the children’s health-insurance program – that Republican leaders had included in their stopgap bill should be part of a “long term” solution, not the 30 day extension.   CHIP should be part of a […]

Philly Fed Slumps Near Weakest Since Dec 2016 As 'Hope' Tumbles

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Having reached its highest since 2014 in mid 2017, Philly Fed has slid notably since and printed 22.2 in January – equaling the weakest since Dec 2016. ‘Hope’ took a big hit, dropping from 52.70 to 42.2, as new orders and employees weakened. Price increases were more widespread this month. On the cost side, nearly […]

Housing Starts Crash In December

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Housing Starts plunged 8.2% MoM in December (5 times worse than expected and the biggest drop since Nov 2016) and November was revised lower as it seems the exuberant steam is coming out of the housing ‘recovery’.     Year-over-Year Housing Starts tumbled 6.0%…   Driven by a big slump in single-family housing starts…   […]

Crypto Rebound Continues As South Korea Admits Exchange Shutdown May Be Impossible

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The rebound from yesterday’s lows ahead of the Bitcoin futures expiration continues across the crypto space with Ripple soaring over 50% in the last 24 hours. South Korean headlines continue, ranging from insider-trading accusations to admissions that shutting down crypto is “realistically impossible.” Bitcoin hit $12,000 this morning… Quite a rebound…   As headlines pour […]

Danger of defaulting: S&P signals warning over Eskom, huge risk it poses to SA

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By Loni Prinsloo (Bloomberg) — There is a “clear danger” that South Africa’s state-owned power utility, Eskom Holdings SOC Ltd., could default on its debt, S&P Global Ratings said. “We are very concerned about liquidity issues,” Konrad Reuss, the managing director of S&P for sub-Saharan Africa, said at an event in Johannesburg Thursday. Eskom is the biggest […]

"Go Piss Off" – Brawl Breaks Out On CNBC Over Bitcoin

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What started off as a (somewhat) polite argument over the fate (and price) of bitcoin between bitcoin advocate CNBC Fast Money staple Dan Nathan and crytposkeptic, Evercore ISI technician Rich Ross, devolved in just over a minute into a screaming fest in which Ross slammed Nathan – who had just called him “glib” – for […]

ANC’s flawed electoral mechanics set to punish the party at the 2019 ballot box

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African National Congress (ANC) flag CAPE TOWN — We’ve all heard about the ANC’s two centres of power, as currently personified by Zuma and Ramaphosa, and the democratically corrosive dominance the proportional representation system gives party chiefs. Constitutional fine-tuning is needed. Yet how many of us know about the undemocratic electoral mechanics of the ANC’s own […]

KPMG, McKinsey and SAP charged – Zuptoids about to be overrun

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EDINBURGH — The game is definitely on; from the NPA’s smashed bottleneck, to Gupta-linked company’s assets-frozen, court-legitimised fraud charges against Zuma, the belated State Capture judicial probe – the Zuptoid house of cards is tumbling fast. Add to this today’s news that the South African Companies and Intellectual Property Commission has laid criminal charges against local […]

Over The Next Year, Germany Will Hit A Scary Demographic Milestone

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In Europe, the economy is humming along at its fastest pace in 10 years. According to the European Central Bank, the most recent forecast for the eurozone pegs growth at 2.3% for the year ahead, a significant upgrade from the central bank’s previous estimate of 1.8%. But as Europe regains its economic mojo, Visual Capitalist’s […]

The Creation Of The Spanish Real Estate Bubble

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Authored by Alexander Alvarez, Summary The euro allowed for easy credit to finance the bubble. Immigration provided labor and customers to the real estate sector. Governments both local and national were complicit in creating the bubble.   The story of the Spanish real estate bubble that popped following the Great Recession started off around the […]

China GDP Beats, Retail Sales Slump (Amid Renewed Fake Data Fears)

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China bond yields rose ahead of the macro data avalanche tonight (following a leaked upside surprise print for GDP). GDP, Industrial Production, and Fixed Asset Investment all beat expectations but Retail Sales missed dramatically – growing at its slowest since Feb 2004. As a reminder, these numbers are landing amid some renewed concern over the […]