Global Market Commentary, Analysis and Investments
U.S. taxpayers have lost $133 billion from TARP — the abominable acronym inflicted on us by former Treasury Secretary Hank Paulson — a new report out this morning shows.
We begin another week pulled in two directions: In one direction lie unresolved failures in policy… and the mayhem it has wrought in the financial system. In the other lie breakthroughs in energy and biotechnology.
[Read more...]Anything happen in the markets yesterday? To tell the truth, we forgot to check. Let’s have a look now, then…
Dow up by 80-something points. A barrel of the world’s currently-preferred energy sits pretty at $100, on the nose. Nothing much, in other words.
Ooh…but here’s something: “Gold extends post-Fed rally to 6-week high.” MarketWatch has the story…
[Read more...]At the Cambridge House’s Vancouver Resource Investment Conference this week, I am part of a special debate on whether China will boom or bust with bestselling author Gordon G. Chang. The title of Chang’s book, The Coming Collapse of China, states his position quite clearly and I look forward to the intellectual challenge of convincing him otherwise.
[Read more...]What’s ahead for 2012?
We gave you a hunch yesterday. The price of gold will probably go nowhere this year.
We have a feeling that 2012 is not going to be a great year for money you get from the ground. Oddly, it will probably be a better year for the money you get from trees.
How is that possible? We all know paper money is going to be worthless. Yes…dear reader…but not necessarily in 2012. It’s just part of the curious way Mr. Market does business…and a feature of his nasty habit of ruining as many investors as possible.
[Read more...]What’s ahead for 2012?
We gave you a hunch yesterday. The price of gold will probably go nowhere this year.
We have a feeling that 2012 is not going to be a great year for money you get from the ground. Oddly, it will probably be a better year for the money you get from trees.
How is that possible? We all know paper money is going to be worthless. Yes…dear reader…but not necessarily in 2012. It’s just part of the curious way Mr. Market does business…and a feature of his nasty habit of ruining as many investors as possible.
[Read more...]A stitch in time…
Okay… We have left 2011 behind. We are rid of it forever. It won’t come back. Never. Not even if the universe lasts a million years, we will never see it again.
Or will we? One of the intriguing discoveries of 2011 came the giant particle accelerator in Switzerland. Those clever scientists set up a race, from Geneva to a finish line in Italy, 730 kilometers away. It was a race of neutrinos against light. Who do you think won?
[Read more...]Darkness without a dawn…
The Dow down 167 yesterday. Gold down $48. Nothing to get excited about.
The excitement is still ahead. When the Dow cuts through the 10,000 mark and heads to 6,000. Stay tuned…
In the meantime, yesterday’s Financial Times told us that the industrialized nations will borrow $10 trillion this year. Next year, the figure should be higher.
[Read more...]“I don’t care what the other kids are doing,” my mother used to say, “you’re not doing it!… If the other kids jumped off a cliff, would you?”
Until yesterday, I always thought her question was rhetorical. But now I realize the correct answer should have been “Yes.”
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Buying Gold in Uncertain Times
Dow down slightly yesterday. Oil falling further below $100. And gold still going up.
What is most interesting is the movement in the price of gold. It seems to be heading up again — almost no matter what else is happening.
So, let’s look at what might be going on…
If investors sensed a recovery…they would expect banks to lend more freely…people to shop more freely…and prices to rise.
[Read more...]