Global Market Commentary, Analysis and Investments
Europe and Washington’s debt ceiling squabble has seen the gold price breach $1600 per ounce and €36,500 per kilo.
The financial media’s standard line is that investors are scared and gold represents a “safe haven”. But how? What are investors scared of that’s led some of them to bid the gold price higher?
[Read more...]As we signed off on Friday, the Saudis were suppressing a ‘Day of Rage’ in Arabie… Gaddafi was mopping up the resistance in Libya… And an earthquake and tsunami left thousands dead in Japan.
But that didn’t stop the stock market. The Dow rose 59 points.
Now it is Monday. And in all the excitement we kinda lost track… But we gots to know…
[Read more...]Wolf, Stiglitz, Krugman – we love these guys!
They pushed the world's governments to undertake huge “stimulus? programs. Of course, the stimulus programs didn't work. They couldn't work. All they could do was to disguise the facts and delay the necessary adjustments.
But these fellows don't care about that. They are the technicians, scientists, and engineers of finance. They have measures of financial health – GDP, employment, inflation, etc. They may not be able to make anyone better off…but they can damned sure move those indicators. At least, they believe they can.
[Read more...]Want to know what is really going on?
Investors are waking up. They are wiping the sleep from their eyes. Behold! No recovery.
Analysts and the commentariat are struggling to make sense of it. With record low mortgage rates, and after eight programs designed to boost up housing, for example, sales are still plummeting. July saw the biggest monthly drop in existing house sales since the Johnson Administration.
[Read more...]Stocks are in the dumps today. As we write, the major US indexes have all but erased the hard-fought/delusional gains of the previous two sessions. The Dow, S&P 500 and the NASDAQ are all nursing losses of around 2%.
The panicky mood on Wall Street comes thanks to a “trifecta of bad reports,? as one news site put it.
[Read more...]Another week gone by. Nothing has been learned. Nothing has been proven. Nothing has been decided.
In the markets, we mean. It looks like the stock market is finally rolling over. After a big drop on Wednesday, the Dow followed up with a modest drop yesterday – down another 58 points.
[Read more...]Naturally, I started having pleasant daydreams about being rich, rich, rich after the Chinese government surprised me by announcing that it would finance the buying of foreign gold mines, and ordered their banks to set up big distributed systems for buying and selling gold at the retail and whole levels and all kinds of stuff like that. Wow!
[Read more...]The Daily Bell recently caught up with Bill Bonner while at the Agora Financial Investment Symposium in Vancouver, BC. Their exclusive interview with the Daily Reckoning founder can be found below…
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Political Paralysis Brought on By Government Spending
Dow down 88. Oil nudging against $100. Gold setting new record highs…
And “Washington gripped by paralysis.” That’s what the papers say. We’ve seen the “Washington Paralysis” so often, we were beginning to think it was a new disease, discovered on the banks of the Potomac. Like Hong Kong Flu. Or Delhi belly.
[Read more...]