A long list of companies ranging from cruise ship operators to retailers to airlines to restaurants are on life support. Many others (we’re looking at you, IBM) have spent billions buying back their own stock with borrowed money and now, even if they survive, look ridiculous. Is there anyone left out there with good year-ahead […]
Top Ten Videos — March 18
Rick Rule: In a panic, everything sells off, but gold does well in a negative interes rate environment … Chris Martenson: Leaked documents show how bad the pandemic might be … Nouriel Roubini: With stimulus of 3% of GDP, this will be a sharp but short contraction … Doug Casey: You can’t imagine where the […]
The Pandemic Invades The Developing World
One of the oddities of the coronavirus pandemic has been its apparent preference for rich countries. The reason is thought to be that most developing countries are in warmer climes, and viruses don’t spread as readily in heat and humidity (which is why flu season in the US begins in the Fall and ends in […]
Mike Maloney: Shortage Of Physical Gold and Silver Will Send Prices Much Higher
I was sitting here writing a post about how even though gold and silver prices are down, dealers are facing shortages of one-ounce bullion coins — and how in the past such imbalances have produced bull markets in precious metals. Then this video from Mike Maloney pops up, in which he tells the the story […]
Feeling Adventurous? Consider Silver
Silver is getting crushed in the pandemic-driven flight to safety — which might have created one of those blood-in-the-streets opportunities that contrarian investors dream about. To understand why, lets start with the gold/silver ratio. The relationship between the prices of these two monetary metals tends to fluctuate within a wide band running from 20 to […]
Here Comes The Torrent Of Free Money
Calling the world’s governments unprepared for Covid-19 is to laughably understate the case. They apparently hadn’t even considered the possibility of a pandemic shutting down the global economy, and had zero contingency plans for dealing with either the physical or financial impact. Now they’re making it up as they go along. Among the offers currently […]
Top Ten Videos — March 12
Peter Schiff: We’re in another financial crisis and the world will be flooded with money … Disease expert Michael Osterholm: The coronavirus is just beginning… Rick Rule: Gold stocks are stocks; in a panic all stocks sell off … Dan Oliver: How gold gets to $2,000 … Mike Maloney: What’s wrong with silver? … […]
Great Times Coming For Gold Mining Stocks
Gold mining can be a terrible business. The metal’s price is volatile. Environmental and political risks are ever-present. And operating costs (especially energy) tend to rise even when gold’s price is falling. The result is a combination of low margins and high risk that causes most miners to consume more wealth than they produce. But […]
Even The Best-Case Scenario Is Pretty Grim
Let’s say President Trump is right about the coronavirus “miraculously” fading away as temperatures rise in the Summer. Will things then go back to the old normal of globalization, free trade and finance-driven “growth”? Almost certainly not, because the psychological damage has already been done. Over the past couple of weeks the modern globalized economy […]
Top Ten Videos — March 5
Mike Maloney: Currency oblivion coming … Rick Rule: This crisis will be good for gold … Paul Krugman: Stop calling it “socialism” … Peter Schiff: Rate cuts and QE are coming, but for investors it will be different this time … Emigrate While You Still Can – To Finca Bayano
Top Ten Videos — February 24
Peter Schiff: Bonds are the bubble, gold is the pin … Michael Pento: The markets’ behavior is “lunacidal” … Chris Martenson: Coronavirus cases are doubling overnight … Alasdair Macleod: In the next recession, the Fed will buy everything … Andy Schectman: The mother of all gold rallies is coming … Emigrate While You […]
Signs Of A Market Top, Part 2: Investors “Give Up Bargain Hunting,” Pile Into Big Tech
One of the last things to be tossed overboard in the late innings of a bull market is discrimination. Instead of comparing the valuations of different assets and buying relative bargains, investors (known in retrospect as “dumb money”) just pour cash into the things that have been going up. This gives those favored assets one […]
Why You Shouldn’t Borrow Too Much Money, China Edition
When the US housing bubble burst in 2007, most observers were focused on the threat to Wall Street banks and their massive derivatives books. This was a legitimate fear, since the worst case scenarios involved the death of Goldman Sachs and JP Morgan Chase, with all the stock market carnage that that implied. But for […]
Top Ten Videos — February 15
Jim Rogers: Where can we go with the West in decline? … David Morgan: The economic impact of the coronavirus will be immense … Rick Rule: We’re in a Goldilocks market for gold mining stocks … Guggenheim on the coming exponential rise in silver … Egon von Greyerz: The Dow will crash 95% against gold […]
Poetic Justice Coming For The 1%
To understand just how grim the coming decade is likely to be for the world’s super-rich, let’s start with three premises: 1) Capitalist democracy — defined as free individuals managing their own property and periodically electing new leaders — is the only system of social organization that’s consistent with human nature and is, therefore, sustainable. […]
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