Global Market Commentary, Analysis and Investments
We went to our last summer soiree last night. It took place at a neighbor's chateau, where a large, ancient stone barn had been transformed into a dining room for 100 people.
“We're screwed…so are you…â€? said a friend.
First, an update from Wall Street: the Dow was unable to sustain a bounce yesterday. It fell 74 points. Gold dropped $3.
[Read more...]What does an economist think…when he adjourns to the local bar…or is hauled away to the asylum? In the dead of night or the quiet of a confessional, does he laugh sourly at having fooled most of the people most of the time? Or does he curse his trade and feel like hanging himself?
The thing economists said was nearly impossible actually happened last week. Yields on 2-year US debt hit a record low just as the Treasury prepares for another record-setting deficit. The supply of Treasury debt and the demand for it hit new highs – together. Stranger things have happened. But the strangeness of this event has caused a furor loquendi amongst economists. Usually, there are only two major ways of misunderstanding current events. Now there are at least four of them.
[Read more...]A column by Ambrose Evans-Pritchard of The Telegraph, and appearing through blogs.telegraph.co.uk, recently sported the headline “Time to shut down the US Federal Reserve?�
Good question! If I were writing about this subject, of course, I would have opened my scathing condemnation of the Federal Reserve with, “Unfortunately, the time to shut down the Federal Reserve was long, long ago. As a result, we're freaking doomed, and the only thing left to do is round these lowlife Fed morons up and punish them severely for their arrogance and incompetence! And Congress, too! And the Supreme Court! A pox on all their houses!�
[Read more...]Today, we boldly announce a NEW THEORY about the way the world works.
Yes, dear reader, you are the first to hear it.
But before we get to that, let's talk about what's going on in the markets.
Stocks continued shuffling along like zombies…the Dow rose 24 points. But gold shot up to $1,248 – a new record.
[Read more...]Information Clearing House Newsletter had the quote, “Believe those who are seeking the truth; doubt those who find it” by Andre Gide, which is generally true about most things, except in the case of economics, because the only true economic theory has already been found, and it is the Austrian school of economics, also known as the Austrian Business Cycle Theory (ABCT), and I have nothing but contempt for anyone who says differently, especially since it can be found every day, for free, at mises.org, and so to believe anything else is just a matter of stupidity and/or willful ignorance.
[Read more...]Copyright © 2009 - Present · All Rights Reserved · Gold Stocks Today · Contact Us
The All But Forgotten Self-Governing Economy
GDP growth revised downward to an “anemicâ€? 1.6%…
Jobless claims rise more than forecast…
Home sales fall off a cliff…worse than economists expected…
Faced with a slew of deteriorating economic data points, Fed Chairman Ben Bernanke delivered a speech on Friday designed to assure investors that he has the fate of the nation's economy under control.
[Read more...]