I have to tell you what’s on my mind this morning after watching the price action again yesterday… I know, it’s just me, and no one else in the writing/analyst world will tell you this, because they have no proof… I don’t either, but that never stops me from saying what’s on my mind regarding these markets now, does it?
[Read more...]Demand Fears in a Consumer-Based Economy
January 25, 2012 By Leave a Comment
Yesterday, Europe was back in the news. Whenever Europe is in the headlines, the headlines are bad. And the ideas behind the headlines are absurd. In fact, it is amazing how many crackpot ideas the press can throw at you in a single day.
The immediate problems in Europe were two:
First, it looked like Portugal was going the way of Greece. It would soon need another bailout, said the papers.
[Read more...]The Real Crisis in Capitalism
January 11, 2012 By Leave a Comment
The Financial Times led off its series on ‘Capitalism in Crisis’ with a wandering piece that attempted to outline the problem. Unfortunately, the FT writers don’t seem to understand what capitalism is, let alone what is wrong with it. They say they are “rethinking capitalism.” But it doesn’t appear that they ever thought about it the first time.
[Read more...]When Consumers Stop Consuming
December 8, 2011 By Leave a Comment
Dow up 46 yesterday…gold bouncing around.
Not much change, in other words. Nobody can figure out what is happening in Europe. Investors wait…and watch.
In America, the news has been good and bad. The good news was that unemployment was not as bad as it had been. But the bad news was that the good news was largely fraudulent.
[Read more...]Ho…Ho..Ho…Consumer Confidence Rises the Most Since 2003
November 29, 2011 By Leave a Comment
Maybe you can chalk it up to the holiday season, but judging from the traffic I saw at the mall over the weekend, consumers are ready to open up their wallets this year.
[Read more...]Confidence in the EU Helps Rally the Markets
November 29, 2011 By Leave a Comment
Good day… Chuck felt it was best to sit out one more day as he tries to recover from a major cold he came down with late last week. He wanted me to share a few of his thoughts with the Pfennig readers this morning, so I’ll start right off with them. Take it away Chuck…
Here are some observations from the cheap seats, where I sit on I.R.
[Read more...]Markets Rally. Details to Follow…
October 28, 2011 By Leave a Comment
Stocks up 339 points on the Dow! Gold at $1,747! Oil over $90!
Forget all of our worries about another big swing down in asset prices…about a Japan-like slump that could last a generation…about gold at $1,200 and the Dow at 6,000…
…we were wrong, wrong, wrong!
[Read more...]
Creating More Debt to Solve the Crisis
Readers who expect an early end to this Great Correction are going to be disappointed. There is no sign of it reaching its conclusion anytime soon. Just the contrary…there’s no end in sight.
The Great Correction seems to be going along just as you’d expect. Or, just as we’d expect.
[Read more...]