Global Market Commentary, Analysis and Investments
We got back to Buenos Aires last night. When we got into a cab, we found the driver curious and loquacious.
“You have an accent. Are you French?”
“No…but it’s a good guess. I’ve lived in France for the last 15 years.”
“Oh…I studied French for years. I was the best in my class. But I forgot it.
[Read more...]What keeps this world economy turning around?
Not the US. America’s private sector isn’t spinning at all. It’s stuck…dead in the water…out of gas…pumped out…
GDP growth is reported at 1%. But that’s almost all government transfer payments and stimulus deficits. Real growth is negative.
[Read more...]Baltimore is a great town. It has more liquor stores than churches. But it is being taken over by zombies. More below…
Yesterday, the Dow went up 44 points. Gold rose $16.
Just noise. Pay no attention.
Both stocks and gold are moving against what we think SHOULD they should be doing. Of course, Mr. Market doesn’t give a hoot what we think.
[Read more...]Remember the phrase “Buy what China needs to buy”? It was a good thesis for us for years. I dipped the ladle into this idea bowl often. And the stocks of producers of potash, oil, iron ore and other stuff from the earth did well. But the tides of fortune ebb and flow. Will these commodities be good investments from here?
[Read more...]In today’s column, I’d like to share with you a few ideas I presented at the recent Agora Financial Investment Symposium in a speech titled You Can’t Make This Stuff Up. I called it that because it’s hard to fathom serious people writing lines like this:
The renewed willingness and confidence to spend money we don’t have is vital to the continuing recovery.
[Read more...]The Europeans are trying to find a way out of their debt mess.
“Paris and Berlin in last-ditch Greek talks,” says this morning’s headline at The Financial Times.
Americans are studying maps and watching the stars too.
Meanwhile, over on the other side of the globe, the Chinese seem to be checking the trees for moss.
[Read more...]The phrase “Greater Depression” was coined by Doug Casey a decade or so back, as a way of describing the economic crisis he foresaw as inevitable, and which is now materializing.
Doug Casey now believes that the unfolding crisis is going to be even worse than he first imagined, and the longer the rest of us at Casey Research study the tea leaves, it is hard to disagree that the Greater Depression is still ahead.
[Read more...]Another vote this morning will take place in Greece, this being the most important thing of the day… So, I guess that’s all we need to talk about, eh? Not so fast there, my friend! There’s more to talk about, so stop beating around the bush and get to it! OK?
Front and center today, there’s more optimism that the “implementation” part of the 2-day Greek voting in Parliament, will pass, and that optimism has the euro (EUR) on the rise again. The first vote to accept the austerity measures passed yesterday, with only one dissenting vote… In fact, a trader friend of mine (thanks S.M.L.) sent me a note that said the markets misread the story at first, and thought that the vote had failed, thus causing a brief, but quick weakening of the euro. But that all changed once the “true” story was produced.
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Will The CFTC Have Teeth?
The currency rally late last week and Sunday night is over… I think the two comments I told you about yesterday from a German official and then from the German Finance Minister (about the prospects of a “solution for the Eurozone debt crisis” being put to bed by next Monday) have really scared the markets into believing they went too far last week and Sunday night…
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