Emerging market currencies are collapsing pretty much everywhere these days. But it’s safe to assume that most people don’t understand exactly what’s causing this outbreak, why it’s happening now, or what “external dollar debt” has to do with it. So here’s a quick primer followed by the obligatory apocalyptic prediction: Prelude: cheap dollar financing Pretend […]
Breaking News/Best Of The Web
“If there were ever a moment to harvest gains, it is August 2018” … The world’s greatest investor is running out of things to buy … Household debt hits record high … Gold and silver halt their plunge, “are poised to stage upside reversal”. Best Of The Web What the hell are we […]
Top Ten Videos — August 14
Marc Faber: Now is the time for bear market preparations … Gerald Celente: Currencies are crashing around the world … Mike Maloney: Trade war could become a shooting war … Alasdair Macleod: Valuing gold in a world awash with dollars … David McAlvany: Half a million bucks doesn’t mean anything anymore. […]
Spectacular Gold COT Report: Prepare For A Huge Six Months
No need to mince words anymore. If the futures market still influences gold’s price, then that price is going to spike. And silver is better than gold. Since January, gold futures speculators have been trending from extremely bullish to scared short. And in the week ending last Tuesday (the most recent data available) they appeared […]
Why Aren’t Widespread Labor Shortages Translating Into Roaring Wage Inflation?
Google “labor shortage” or “wage hikes” and the result is a picture of an overheating economy. Some examples from August 10: 911 Emergency: Call Centers Can’t Find Workers Why Disneyland’s $15-an-hour labor deal is a win for workers everywhere Colorado small businesses seek help with labor shortage Washington growers struggle with labor shortage Now hiring: […]
Another Way Of Looking At The Pension Crisis, As “A Stealth Mortgage on Your House”
Money manager Rob Arnott and finance professor Lisa Meulbroek have run the numbers on underfunded pension plans and come up with an interesting – and highly concerning – new angle: That they impose a “stealth mortgage” on homeowners. Here’s how the Wall Street Journal reported it today: The Stealth Pension Mortgage on Your House Most […]
Another Week, Another Improvement In Gold’s Prospects
The past few months have added some cred to the “sell in May and go away” rule of thumb for precious metals, as gold’s price action has been both boring and depressing. It’s now close to its 12-month low, while a lot of miners are providing material for the old joke: “Want to make a […]
Global Housing Bubble Is Popping. Here Comes The “Reverse Wealth Effect”
Just a few months ago, real estate was on fire. Prices were blowing past records set during the previous decade’s housing bubble as desperate buyers bought whatever was available at above the asking price while homeowners, confident that prices would keep rising, held out for the next big pop to sell. Notice on the following […]
New Age Fiscal Stimulus Is Unprecedented — And Ominous
In a normal business cycle, the economy expands for a while and businesses hire lots of new people at somewhat higher wages, generating enough tax revenue to shrink the government’s budget deficit – and in rare cases produce a surplus. So, for a while, the government borrows less money. Not this time. The current recovery […]
Is The Interest Rate Death Spiral Finally Starting?
The yield on Italy’s 10-year bond is up by about 100 basis points from its 2018 low. Meanwhile, its government continues to borrow money and roll over its existing debt. But now it has to do so at ever-higher interest rates, which means it has to pay more interest, which means its deficits are rising, […]
Welcome To The Third World, Part 28: The “Bottom Half” “Bolsters” The Economy By Going Into Debt
For maybe the best example of how financial trends are diverging at the opposite ends of the wealth spectrum, contrast the cash flowing into the accounts of the already-rich with the debt accumulating in the accounts of the “bottom half”: Mortgage, Groupon and card debt: how the bottom half bolsters U.S. economy (Reuters) – By […]
Public Sector Pensions: The Parasite Devours Its Host
The Wall Street Journal recently highlighted a better method of analysing the impact of public sector pensions on state and local budgets. The results are ominous for government finances, the bond markets, and pretty much everything else: Why Your Pension Is Doomed A new study shows that benefits are rising faster than GDP in most […]
Gold And Silver Futures Action Turning Positive
After a brutal few weeks in precious metals, you’d expect trend-following speculators to be heading for the exits. And the most recent gold and silver futures action — aka the commitment of traders (COT) report — shows exactly that. Which is good news. In gold, speculators – who tend to be wrong at big turning […]
Marin Katusa On The Coming Junior Gold Miner “Buying Binge”
Resource stock analyst and money manager Marin Katusa just sent out a blast email that explains — via some extraordinary charts — why large miners will soon start snapping up the best junior gold miners for big premiums over current prices. Here’s the whole thing: The Most Important Charts for Your Gold Stocks Right Now […]
Michael Pento: How The Trade War Will Hurt The US — And The World
Excerpted from Michael Pento’s Pento Portfolio Strategies China appears to have more to lose from a trade war with the US simply because the math behind surpluses and deficits renders the Bubble Blowers in Beijing at a big disadvantage. When you get right down to the nuclear option in a trade war, Trump could impose […]
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