I knew it was going to be “one of those days� when, on the very first fairway, this new guy Bob says that he thought my tee shot had landed over there behind those trees, and how he is surprised to see that my golf ball is now sitting on the fairway, and another twenty yards further towards the hole, too.
[Read more...]Hooray for the Economic Recovery!…of 2016
July 28, 2010 By Leave a Comment
Last week, the price of gold again broke below its new base at $1,200, and the US stock market was again under strong pressure, due to a confluence of fears, most of which point to a deflationary double-dip. The fears were fanned by disappointing second quarter results, by the latest CPI reports that show inflation continuing to moderate, and by yet another poll revealing faltering consumer confidence.
[Read more...]US Economic Outlook: Bad and Getting Worse
July 21, 2010 By Leave a Comment
It was raining outside, and so I was stuck inside the house, listening to my family remind me that I was just a worthless, penny-pinching, hateful old man who loves gold, silver and oil more than I love them, which I hasten to add is not exactly true in all respects, but you gotta admit that gold, silver and oil will treat me very nicely as they soar in price along with inflation in prices because of the insane levels of money creation by the Federal Reserve so that the loathsome Obama administration can deficit-spend us into hyperinflation, whereas spouses and children will be just a heavy millstone around my poor, aching neck, dragging me down, down, down by forcing me to spend money on them for their food and medical care and all the rest of that expensive crap.
[Read more...]Ballad of a Heartbreaking Money Supply
March 29, 2010 By Leave a Comment
As much as I scream in Loud Mogambo Outrage (LMO) about the sheer amount of money that is being created that will create horrendous inflation in prices, using whatever data that I can easily get my hands on or, better yet, falling into my lap, or, as a last resort, just making up facts and figures to prove my point, I may, for once in my over-the-top, obnoxious and irritating life (“The Way Of The Mogambo (TWOTM)”), be understating the case! Understating it!
[Read more...]Declining Dollar to the Fed: Et Tu, Bernanke?
March 19, 2010 By Leave a Comment
Still on the road to moksha…
Prices are rising in India – pushed up by the high cost of food. Thanks partly to a disastrous government policy of encouraging the over-use of chemical fertilizer, food prices are shooting up. In a poor country, food is a bigger part of the family budget than in a rich country. India’s CPI is rising at about 11%.
[Read more...]Is Your Money What You Think It Is?, Part II
March 18, 2010 By Leave a Comment
Doug: There’s a titanic battle right now between the forces of inflation and deflation. When a big corporation like General Motors, or Fannie or Freddie, defaults on its debt, hundreds of billions of dollars disappear. Assets people thought they had and could have been converted into cash disappear. That’s deflationary. In a sound banking system, in which money is a commodity like gold, money can’t disappear. It can change ownership, but it can’t disappear. But in our current system, it can dry up and blow away as easily as it can be created.
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Earnings Aren’t What They Used to Be
As Wall Street's big money players return from the Hamptons in the coming weeks, they will have to reassess the earnings power of their portfolio companies. Last week, Staples confirmed the message we heard from Office Depot and Office Max: the small business sector as a whole isn't very healthy. Disappointing earnings from Dell dampen the mood even further.
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