“Should I buy gold now, or wait for a pullback?” I get that question a lot…and it’s a valid question. For nearly two years, gold hasn’t had a serious decline. There have been pullbacks, of course, but nothing assumption-challenging. In fact, since October 2008, gold’s largest price drop is 10.6% (based on London PM fix [...]
From Germany comes news of a remarkable resurgence. BERLIN – The government on Friday announced quarter-on-quarter economic growth of 2.2 percent, Germany’s best performance since reunification 20 years ago – and equivalent to a nearly 9 percent annual rate if growth were that robust all year. The strong growth figures will also bolster the conviction [...]
Three weeks later [after early June 2010] the celebrated property rebound, along with the stock market, ran out of bounce. After the hefty government tax credits that had propped up sales expired in April, May purchases of new homes fell 33 percent to a record low, the fewest sales since 1963. Note that the US [...]
Here we are at the end of another week. What have we learned? Not much. Yesterday, the markets went nowhere. So, we’ll think a bit more about Tim Geithner and the other men who rule us. Geithner wrote an article for The New York Times, “Welcome to the Recovery.” The gist of the article was [...]
Hossein Askari is a professor of international business and international affairs at George Washington University, and Noureddine Krichene is an economist with a PhD from UCLA, which I mention to establish their credentials, since some bozo from the Federal Reserve created a stir when he said, with a sniff of condescension and smugness, that nobody [...]
Yesterday, the rally on Wall Street slowed down a bit. The Dow rose 12 points. Gold had a bad day – down $25. We had guessed that gold would be going down. But it is still too early to detect a real trend. For the moment, the financial markets and the economy are going in [...]
Yesterday morning I told you that the currencies, for the most part, were flat… That didn’t last too much longer… The US printed what the media and markets thought was a fabulous New Home Sales report, and the rally in risk assets was “on”! With stocks and currencies in rally mode, gold and silver backed [...]
The Dow fell 109 points yesterday. Gold was flat. Otherwise, all quiet on the financial front. We’re keeping these reckonings short this week. Your editor is attending a financial conference in Vancouver. He doesn’t want to miss anything. What have we learned so far? Both Rob Parenteau and John Mauldin mentioned the danger of fiscal [...]
In a assessment out today the International Monetary Fund describes European banks, which are heavily burdened with debt, as now presenting one of the most significant threats to the global economy. The IMF describes the continent’s banking system as having a both a “legacy of unfinished cleansing,” as well as “pockets of vulnerability, overcapacity, and [...]
I’ve got to admit it’s getting better… A little better all the time. – The Beatles Another Monday…another week… Are we getting better? And what will this week bring? More evidence that things are improving? On Friday we got word that consumer sales had fallen in May…from the month before. That is, they didn’t get [...]
I like to work, I’m rolling all the time… I can pop my initials on a mule’s behind… – Jimmy Rogers The Dow dropped another 115 points yesterday. Gold moved up to near an all-time high. This past weekend, we worked on a barn roof…just like we did 30 years ago. But come Monday morning [...]
Well, the much-awaited unemployment report came out on Friday. The pundits, analysts, and kibitzers were all waiting. Their mouths open. Their pulses racing. They expected an “I told you so” moment. Bloomberg polled them a week or two ago. The 2000 of them surveyed were overwhelmingly bullish…with the average forecast of a 27% increase for [...]
Well, the fans are getting their money’s worth. After staggering through the last four or five rounds, the Dow suddenly came back to life yesterday. It got up off the mat. Straightened its shorts. Did a little dance. And then wham… By the time the bell sounded, it was up 284 points. Gold ended the [...]
There’s a great deal of debate about where gold is headed next, but at least one billionaire investor has more than made up his mind. Thomas Kaplan, the chairman and chief investment officer of Tigris Financial Group, fears excessive government spending has failed to stop contagion in the world financial system, and that the downturn [...]
Yesterday was a change in the weather for the currencies, as we saw a very tight trading range with no wild swings up or down, which has been the routine for a month now. The euro traded in a range of 1.2675 to 1.2740, going back and forth all day… This morning, as I turn [...]
Europe has lost its head! First, the weather is completely out-of-sync with the calendar. Perhaps it’s because of the volcano in Iceland… The dust is blotting out the sun. There’s no sun here today. Instead, the sky is pale grey. And it’s raining. The calendar say’s May 11th, but it could easily pass for February. [...]
I am a guy who thinks he is a hero for being “out there”, on the cutting edge, heroically standing at major intersections, yelling my head off to educate drivers who get caught at the stop light, by looking them right in the eye and telling them that “You are doomed, you moron! Doomed! Doomed [...]
If you want to know where the stimulus money winds up, don’t look in my wife’s purse, because I have been there several fruitless times in the last few weeks, and she almost caught me twice. And don’t look in my wallet, as my kids have been there several fruitless times in the last few [...]
“Panel will tackle national debt,” says a headline in this week’s Washington Post. Would anyone like to bet? Who writes these headlines? What are they thinking? Are they thinking at all? While the bi-partisan group of bumblers may do something; tackling the national debt – or even slowing it down – is not one of [...]
Does government spending move markets? Jason Farkas upends the argument that governments and central banks have much influence on markets by comparing two drastically different fiscal policies from two completely different parts of the world. Original Source
