Global Market Commentary, Analysis and Investments
Stocks up 339 points on the Dow! Gold at $1,747! Oil over $90!
Forget all of our worries about another big swing down in asset prices…about a Japan-like slump that could last a generation…about gold at $1,200 and the Dow at 6,000…
…we were wrong, wrong, wrong!
[Read more...]The Dow fell 200 points yesterday. Up, down…up, down…when will it stop?
Never. That’s what prices do. They go up and they go down.
Discovering…discovering…the markets will never cease discovering….
And the end of all their discoveries will be, to return to the place where they began, and to know it for the first time…
[Read more...]Since we’re in the mood, let’s begin today with a question: Do you think your kids or grandkids will be worse off than you?
We’ll give you a moment to think about it.
[One moment]
Fifty-seven percent of Americans responding to a similar question posed by The Hill predict today’s young people won’t live better lives than their parents.
[Read more...]We were on the edge of our chairs yesterday. We wanted to see if the Dow would crash through the 10,000 barrier. A break below 10,000 would probably hit the markets like a drone attack on a birthday party…
…perhaps causing investors to panic…and the feds to do something really stupid.
[Read more...]It was a pretty busy day in the currency markets yesterday, so there is thankfully plenty to write about, this morning. The dollar has continued its slow retreat from Monday’s spike when the dollar index traded at the highest level since February 22. The big move higher by the dollar was the result of renewed fears of a eurozone break up and a downgrade of some major European banks, but leaders of both France and Germany have been working hard to assure investors the euro is here to stay. Our own Treasury Secretary Tim Geithner is in Europe today to throw his two cents into the discussion. I guess he certainly knows a lot about unfettered accumulation of debt, but I’m not so sure he knows how to bring deficits back under control. Like I said, there is plenty to talk about in the markets this morning, so let’s get to it.
[Read more...]As you know, we’ve been wondering about the exhaustion of the Industrial Revolution innovation…and the bankruptcy of the Social Welfare state as a result.
We take for granted that a healthy economy ‘grows.’ Our governments depend on it to pay the bills. Our investments depend on it too; we buy investments that we hope will become more valuable as sales and profits grow along with the economy. But what if all of our assumptions about what is ‘normal’ are wrong? What if the growth spurt we have known for the last 300 years was the exception, not the rule? And what if it were now coming to an end?
[Read more...]This week shaped up to be one of the busiest on record for all of us here that I can remember as the market volatility and plethora of data provided us with endless excitement. As we close the books on April, the dollar saw increased selling pressures with several currencies setting new records, gold and silver trading at or through all time highs, and the euro (EUR) knocking at the door of 1.50. We’ll see if this carries over into May or if there’s some type of circuit breaker, such as Europe’s debt problems, that re-surface in order to keep the dollar from hitting the floor.
[Read more...]America has an economy that produces about $13 trillion of activity each year. America also has a Federal Reserve Chairman that produces about 13 trillion raised eyebrows each year.
Last week, in Jackson Hole, Wyoming, Bernanke raised a few more eyebrows by asserting that the Federal Reserve remains in control – more or less – of economic conditions here in the United States.
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The Problem with Contemporary Education
Several of the ‘Capitalism in Crisis’ thinkers — even those who should have known better — thought the government needed to invest more money in education.
Kenneth Rogoff, for example, concludes that “improved education alone will not resolve the flaws inherent in today’s capitalism, but it [is an] essential first step down any path to a solution.”
[Read more...]