Global Market Commentary, Analysis and Investments
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...]Baltimore is a great town. It has more liquor stores than churches. But it is being taken over by zombies. More below…
Yesterday, the Dow went up 44 points. Gold rose $16.
Just noise. Pay no attention.
Both stocks and gold are moving against what we think SHOULD they should be doing. Of course, Mr. Market doesn’t give a hoot what we think.
[Read more...]Last night…
We’re racing to the airport at Pudong. We don’t know why we are racing; there is plenty of time. But the driver seems to want to set a new land speed record for a taxicab.
He’s rocketing along at 100 mph. The cab weaves flawlessly through the traffic.
But what’s this? The cab driver has taken both hands off the wheel. He is putting in a CD. Moments later…what da…?
[Read more...]With the US government’s ever-increasing stranglehold on Americans’ assets, smart investors are now taking their wealth abroad.
“Making the chicken run” is what Rhodesians used to say about neighbors who packed up and got out during the ’60s and ’70s, before the place became Zimbabwe. It was considered “unpatriotic” to leave Rhodesia. But it was genuinely idiotic not to do so.
[Read more...]Poor Mr. Obama. The man who ran on a campaign promise of “change,” is striving to achieve his stated goal by implementing a slew of conspicuously “same” policies, one after the other.
Admittedly, your editor doesn’t know much about drafting empty campaign promises, but he suspects that two sames don’t make a change. We’ll see.
[Read more...]Imagine the face of Lt. George Morris. On March 8, 1862, his ship, the USS Cumberland, found itself a victim of what the economist Joseph Schumpeter called ‘creative destruction.' The creativity came in the form of a revolutionary new technology, iron-clad ships. The destruction came in the form of cannonballs, which were smashing the poor Cumberland to bits. The Cumberland fired its cannons too. But its volleys merely ricocheted off its adversary, the CSS Virginia, like pebbles off a turtle's back.
[Read more...]Wall Street suffered its first reversal in eight days yesterday. The Dow dropped a modest 7 points.
For its part, gold rose $1.30 and the dollar fell.
More importantly, the latest news is that inflation rates continue to fall. Producer prices went down 0.8% in the last two months – and the rate of decline is accelerating. It won't be long before the US is in outright deflation – just like Japan.
[Read more...]A cool breeze blew in over our little island late this afternoon. The temperature is forecast to drop from a high of 90 degrees today to only 60 tomorrow. How quickly things can change…
But were here to talk markets… If you took Friday off, you didnt miss much. The Dow nudged higher by a fraction of a percent. The NASDAQ and the S&P 500 remained, for all intents and purposes, unchanged. Gold slipped a bit over the past few days. After a failed run at $1,120 per ounce on Friday, ol yella fell back to around $1,100. This morning it trades a few bucks higher. Oil holds steady at $80 and change per barrel.
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How China Will Defeat America
Don’t expect spending on the pentagon to decrease. Not with our nation’s security at stake. And not with China posing an ever-greater threat.
An article by Yan Xuetong, translated from mandarin, tells “How China can defeat America.” The gist of Mr. Xuetong’s thought is that rising hegemons are a lot nicer than declining ones. Besides that, history is on the side of the rising power.
[Read more...]