I confess to following the Beige Book lately for mostly entertainment purposes. It was always an exercise in intellectual vanity, an opportunity for Fed Presidents to cram into it their own biases. But to see the FOMC just abandon the LABOR SHORTAGE!!! like they have, that’s not strictly about amusement; though it is to some… Read More
It certainly doesn’t feel like a bubble. We’ve heard about home prices in many cities skyrocketing like there has been one, still there does seem to be something different. If it is a bubble, it sure isn’t the same as the last one, the big one fifteen years ago. Much is missing this time around.… Read More
My friend and colleague, Chris Powell, Treasurer of GATA, wrote a compelling essay on Modern Monetary Theory. MMT has been in operation by the western Central Banks since Bretton Woods. The “QE” program that began in 2008 is the most recent and blatant implementation of MMT. This is a must-read if you are interesting in… Read More
Nearly every major correction and crash going back to 1987 was preceded by weakness in Lumber. Despite a strong comeback off the low, Lumber is turning lower again [and that does not bode well for small cap equities as a result. Why is that? Read on!]. Factually, the price of Lumber matters because the average… Read More
It seems a paradox, at least like it is backwards. The financial media doesn’t help because good editorial standards rely upon the opinions and beliefs of credentialed people who have no idea what they are talking about. If you hold high office in some central bank, we are to assume you are competent about monetary… Read More
It’s been a slow turnin’ From the inside out A slow turnin’ But you come about Slow learnin’ But you learn to sway A slow turnin’ baby Not fade away Now I’m in my car I got the radio on I’m yellin’ at the kids in the back ‘Cause they’re bangin’ like Charlie… Read More
From October 2000 to July 2001, the Treasury Department conducted a special survey of users of its Treasury International Capital (TIC) data. Nearly two decades ago, it had become apparent (to some) just how important international dollar flows were to the overall economic and financial landscape. And not just those of the United States. TIC… Read More
Senator Compares Facebook’s Libra Association to Spectre in James Bond Movie By Pam Martens and Russ Martens: July 17, 2019 ~ Yesterday the U.S. Senate Banking Committee assembled to hear Facebook’s David Marcus explain how the company wants to create a global digital currency called Libra, to be run by a Switzerland-based global organization called… Read More
There’s always weakness even in the most booming of economies. Even in the real booms, not the 2017 hysteria kind, not all cylinders will be firing. What makes them real, however, is when the vast majority are. The concept behind globally synchronized growth was a valid one, it just never came out in practice. The… Read More
For there to be a second half rebound, there has to be some established baseline growth. Whatever might have happened, if it was due to “transitory” factors temporarily interrupting the economic track then once those dissipate the economy easily gets back on track because the track itself was never bothered. More and more, though, it… Read More
Jeffrey Epstein’s Curiously Nimble Trading in LinkedIn Stock Raises Red Flags By Pam Martens and Russ Martens: July 16, 2019 ~ Is Jeffrey Epstein, the accused sex trafficker and sexual assaulter of dozens of underage girls potentially guilty of financial crimes as well? His criminal profile suggests that may well be worth investigating. Bernie Madoff… Read More
You aren’t going to find the worst economic quarter in Singapore’s modern history in either 2008 or 2009. It was actually posted in 2010. During the third quarter of that year, GDP declined by a whopping 11% annual rate. While that’s the biggest contraction still on record, initial government estimates thought it was closer to… Read More
The latest batch of economic from China featured a little something for everyone. For those thinking about a second half rebound, retail sales gained nearly 10% in June. It was the first time near to double digits since March 2018. At the other end of the spectrum, Real GDP rose just 6.2% year-over-year in the… Read More
Tax Filing Suggests Child Sex Offender Jeffrey Epstein Made His Wealth Flipping Hot IPOs on Wall Street By Pam Martens and Russ Martens: July 15, 2019 ~ Jeffrey Epstein is variously called a “billionaire,” a “hedge fund manager,” or a “financier” in the hundreds of articles that have appeared in print this month. But no… Read More
High inflation expectations (the Expected CPI) [are] associated with a low for the gold/commodity ratio and a low for inflation expectations is associated with a high for the gold/commodity ratio. The Expected CPI is determined by subtracting the yield on the 5-year TIPS (Treasury Inflation Protected Security) from the yield on the 5-year T-Note and,… Read More
“I don’t think it’s any coincidence that gold runs from $1285 to as high as $1445 around the time that all the news about Deutsche Bank started coming out” [the failure to merge with Commerzbank followed by the “good bank / bad bank” split announcement]. Deutsche Bank is being prevented from collapsing by the German… Read More
It’s hard to know what to buy or sell let alone just when to prudently do so. Thank goodness there are indicators available that provide information of stock and index movement of a more immediate nature to help you make such important decisions. This article describes the 6 most popular Momentum Indicators. By: Lorimer Wilson (munKNEE.com)… Read More
Gregor Gregersen started Silver Bullion after he saw rush for gold and silver during financial crisis Source: silverbullion.com.sg
Like a shark smelling blood in the water, I don’t care that the blood is in the water from leaking out of what will be a dead horse, if it isn’t deceased already. I pretty much intend to beat on it one way or another. The issue isn’t just fed funds, it’s why anyone cares… Read More
Numbers really don’t tell us much all by themselves. Context always matters. That’s why 19th century British statesman Benjamin Disraeli claimed there are three kinds of lies; lies, damned lies, and statistics. Numbers employed in isolation are either misleading or useless. In the 20th century, Darrell Huff wrote in his classic How To Lie With… Read More