Global Market Commentary, Analysis and Investments
I like to work, I’m rolling all the time…
I can pop my initials on a mule’s behind…
– Jimmy Rogers
The Dow dropped another 115 points yesterday. Gold moved up to near an all-time high.
This past weekend, we worked on a barn roof…just like we did 30 years ago. But come Monday morning we didn’t feel 30 years old. Our legs still ached from the weekend’s work.
[Read more...]The depression is alive and well, thank you.
The Dow rose 91 points yesterday. Gold fell $6.
Officially, the crisis is over. Everyone says so. Central bankers and Treasury officials have been congratulating themselves. It’s been a year now since the end of the world didn’t happen. These fellows take credit for it.
[Read more...]Worse than the Great Depression…
Stocks ended Friday trading not much higher than where they began. Gold rose $3. Oil is trading over $80 a barrel this morning. And stocks in Asia are “recovering” from the Fed’s discount rate increase of last week.
If the market wanted to crash, it would have plenty of reasons to do so. China is tightening bank lending rules. Here in the US, there is the aforementioned Fed discount rate increase. In Europe, Greece is going back to the marketplace to raise more money. And in the Mideast, today’s news tells us that many Kuwaiti could be wiped out by the latest downturn in their multi-billion dollar investment industry.
[Read more...]On the eve of Obama’s election to the presidency, while pondering how long the recession would last, we wrote:
“The data point to watch will be unemployment. The real danger economically, socially or politically speaking, in the ’30s was loads of young men without jobs.
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Will the US Economy Ever Again See Full Employment?
How are things on the pampas?
Tolerably fair, it appears…
We just got here. Too soon to rush to judgment. From what we can tell, though, the poor Argentines seem to be shooting themselves in the foot…and the leg…and everywhere else. They’re going to be taking out buckshot for years…
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