Global Market Commentary, Analysis and Investments
I remember the good old days of the Cold War when the Russians were humorless robots who could always manage to catch James Bond, a British secret agent better known by his “License to Kill? number: 007.
But the clumsy, doltish Russians could never hold onto him, and in the process, a lot of Russian secret agents, soldiers, miscellaneous employees, assorted affiliates and innocent bystanders all died, usually in a blaze of gunfire or explosions of some kind.
[Read more...]Most of the time, I am so freaked out that I spend most of the day in the Mogambo Bunker Of Paralyzing Fear (MBOPF), scared out of my mind at catastrophic ramifications of the economic stupidities that are being foisted upon us, like, for instance, increasing taxes in a recession! Gaaahhhhhh!
And then people ask me, “Why are you screaming your head off in fear, you irritating little moron?? Naturally, I answer, with a voice tinged in scorn and loathing, “Because taxes are being raised in a recession, and so screaming in fear and outrage is the only appropriate public response, while buying gold, silver and oil is the only appropriate private response. So, ha! Who's the moron NOW, you moron??
[Read more...]Peter Schiff of Euro Pacific Capital notes that the Federal Reserve, and the idiots like Paul Krugman who genuflect at the altar of Keynes, is not done with destroying the economy, but that “Bernanke and his supporters have said that their stimulus will be withdrawn as soon as the recovery takes hold in earnest.? Hahaha!
[Read more...]Frederick Sheehan has a blog titled aucontrarian, which, I am sure, is a play on the classy French phrase “au contraire,? meaning, as I understand it, “to the contrary,? but for a gold bug like me, all I see is the “au? prefix, which is the symbol for gold! Gold! Fabulous gold!
[Read more...]The US Bureau of Economic Analysis, an “official? source of news, reported what everybody has already known: Government worker compensation in now an average of more than $120,000, or about twice as much as the average private sector worker making less than $60,000.
I find this particularly interesting because I get a chance to answer some of my critics, who say to me, “Bah! Even though you are absolutely right about the foul Federal Reserve and how their continually creating more and more money is going to ignite an inflation in prices that will destroy us, and you are entirely correct that buying gold, silver and oil are terrific bargains right now because of it, and you are completely spot-on that Obama and Congress are repugnant socialist morons, but you are not as handsome as you think you are, and a lot more stupid, too. And lazy. For instance, you never do any real work.?
[Read more...]I had just gotten home from arguing with the in-laws about how they were idiots for not buying gold instead of those stupid stocks and mutual funds, and their laughter was still ringing distastefully in my ears when Eric Fry here at The Daily Reckoning put up a chart of the P/E ratio of the S&P500 over the last 30 years since 1981.
[Read more...]Finally the Austrian school of economics, sometimes referred to as the Austrian Business Cycle Theory (SBCT), is getting some respect, as we learn from DailyBell.com, that quoted an editorial from Ron Smith at The Baltimore Sun saying “The few economists that warned that the credit explosion of recent years would hasten and deepen financial disaster were mainly from the so-called Austrian school and were derided by their Keynesian counterparts as kooks. Who looks kooky now?”
[Read more...]Bill Bonner here at The Daily Reckoning writes that Tim Geithner, Secretary of the Treasury of the United States of America, is the author of the now-infamous “Welcome to the Recovery? piece he wrote for The New York Times, which I meant to read, and tried to read, but I could only get part way through it before getting visibly upset with such self-serving, lying, sophomoric qualitative excuse-mongering.
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Monetary Madness
For some reason, everyone is taken aback because, as James Mackintosh at The Financial Times puts it, “Stanley Druckenmiller, one of the masters of the investment world, this week announced his retirement saying that he had become frustrated over the past three years with his inability to make outsized returns,? which makes me laugh my Huge Mogambo Butt (HMB) off at Mr. Druckenmiller, and laugh at hedge funds everywhere because, as Mr. Mackintosh reports, “the average macro fund had lost 1.2 per cent, after small gains last year, according to Hedge Fund Research. By contrast, global equities are down 5 per cent since January.?
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