Global Market Commentary, Analysis and Investments
Stocks are still climbing. The Dow was up over 14,500 last we checked, buoyed, say the papers, by some encouraging jobs numbers. Here’s The Financial Times, abusing its readers with the details:
Overall, US equity markets rose by midday, boosted by better than expected jobless claims.
[Read more...]Poor Rand Paul. He seems like a decent enough fellow, the kind who might stand when a lady joins the table…or sit when a CIA director enters the room. What’s he doing getting mixed up with that seedy D.C. mafia they call Congress? His father might have at least warned him.
Nevertheless, the Kentucky senator has been all over the news this week. Social media feeds lit up Wednesday with messages of support for the man many see as the Libertarian Party’s next champion. The hashtag #StandWithRand flashed throughout the Twittersphere. Catchy Rand memes swept across Facebook networks.
[Read more...]Chavez is dead. Now that we’ve wasted three words on his obituary, let’s move to other news…
The Dow hit a new record yesterday. 14253.77 was the high water mark at the close…and the tide was still rising this morning. Surely this is good news, right?
We’ll answer our own question, emphatically: Yes and No.
[Read more...]Well, Fellow Reckoner, it’s been something of a sad week for proponents of Bitcoin…
Would-be buyers of the fringy cyber experiment have had to watch as the price of their beloved currency shot to within (as of this writing) a few cents shy of $35 per coin. No buyer wants to see that kind of action…unless they are also an “already boughter.”
[Read more...]Stocks are on the rise. Gold is on the rise. Bitcoin is on the rise. Everything is up…up…and, away!
The Dow has been on a tear this week, up 300+ points since Tuesday’s low. What’s causing the rally? Is the economy fixed? Have Bernanke’s magic money elixirs finally done their job? Or is collective delusion on the march once again?
[Read more...]Decent folk don’t need Dick Cheney to describe something as “a good policy” to know it’s probably a bad idea. But just in case they missed the point the first time around, the former VP was on television last week to hammer it home for them.
In an interview with CBS This Morning, Cheney brushed aside calls for “checks and balances” against the Obama administration’s controversial drone program.
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Deja Vu…All Over Again!
News hit the wires over the weekend that the Republic of Cyprus would begin stealing money from depositors in order to resurrect confidence in its flailing banking system. They want to avoid a crisis, in other words, by creating exactly the kind of uncertainty in which crises thrive.
“More likely,” observes Laissez Faire Books’ Jeffrey Tucker, “the plan to tax all Cyprian bank deposits 6.75-10% will trigger one. Or maybe just the talk of it already has. We can’t know for sure, because the government of Cyprus has declared a banking ‘holiday,’ a term that means that the robbers take a vacation from being held accountable for their actions.
[Read more...]Click for detailed story