Global Market Commentary, Analysis and Investments
Have we told you where we think the US and other developed countries are headed? No?
Well, things won’t necessarily be so bad. In a few words: the lust for MORE will become a lust for BETTER.
Yes, the age of easy growth is over. You probably won’t make any money buying stocks. And your house will never return to the levels of ’05-’06. And oh yes…you may not be able to get a job.
[Read more...]Irene was not so bad. She knocked down a few trees, flooded a few basements. But, in the end, she was a good girl who left quietly when her time came.
Traders, players, speculators and mid-night ramblers drifted back into Manhattan as soon as they could clear the fallen trees. They must have felt they had been spared for some great purpose. They must have looked to the heavens as clouds parted and rays of golden sunlight struck their uplifted faced. Whatever got into them, they rushed to the stock exchange and bought US stocks! The Dow rose 254 points.
[Read more...]Stocks fell again yesterday, down another 20 points or so. That’s six for six sessions in the red. And they’re down again, if only modestly, this morning. Gold is down too, off 8 bucks and change over the past 24 hours. But oil…oil is up big after, as one of the papers announced, “OPEC talks broke down in acrimony on Wednesday after Saudi Arabia failed to convince the cartel to lift production, sparking a rebound in global oil prices.” A “larger than forecast” drop in US inventories also helped push the price higher.
[Read more...]We’re finally getting some action on Wall Street! The Dow has lost more than 200 points in the last two days. Gold is down more than $50. And oil closed below $100 yesterday.
Could this be the sell-off we’ve been waiting for? Maybe.
Why do we expect a sell-off? Because we’re still in a Great Correction. And in a correction, prices tend to go down. Deflation is the underlying trend…not inflation. Debt gets marked down…defaulted on…and written off.
[Read more...]We’ve always wondered why there is so much debate about the rate of inflation. It seems like such a simple thing to track. You go in the store. You buy a box of Wheaties. You write down the price. Next month, you do the same thing. What’s so hard about that?
But what if the box is smaller next month? What if the Wheaties are twice as good? What if you can get the same enjoyment from a box of Wheatie-Puffs at half the price?
[Read more...]“High oil prices start to apply the brake on drivers,” says a headline in The Financial Times.
As predicted, the feds’ easy money policies are turning into hard times for the middle and lower classes. Oil prices have gone up with the Fed’s balance sheet. For every dollar the Fed added, the price of oil ticked up too.
[Read more...]What a nuisance! Our laptop computer collapsed this morning. Hours were wasted trying to revive it. We were like a carpenter without a hammer…a clown without a red nose…an idiot without a village.
Meanwhile, the financial world seemed to be on the verge of collapse too. Stocks rose 161 points on the Dow yesterday…after a big drop the day before. Gold rose a bit too.
[Read more...]And the latest installment…
The Dow dropped 228 points yesterday. Everybody blamed a different part of the world. Some blamed a developing civil war in Libya. Some blamed China’s big trade deficit (China imports beaucoup energy and raw materials). And some blamed rising interest rates in Europe.
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The Genius of the Price System
The other day, a local hamburger joint was advertising a 99 cent hamburger, and I took the offer. It was great. I wondered how they can make money this way. A few days later, my head still swimming with memories of that great experience, I went back. This time, I dug in a bit deeper and upgraded the order, including fries and a drink, and this time shelling out for my passenger too. The total bill came to $16. Wow. That’s how they make money!
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