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Memo from Insiders: Dear Bagholders, Thanks for Buying Our Shares at the Top
Memo from Insiders: Dear Bagholders, Thanks for Buying Our Shares at the Top The self-sustaining recovery is a fantasy that’s evaporated. What looks like a powerful, can’t-lose rally to newbies is recognized as distribution by old hands. In low-volume markets (as in the past few months), insiders holding large positions can’t dump all their shares at once or […]
CHART OF THE WEEK: Mexico & Peru Silver Production Big Declines Again In May
CHART OF THE WEEK: Mexico & Peru Silver Production Big Declines Again In May According to the data released by Mexico and Peru’s governmental mining data, domestic silver production continued to be depressed in May. Interestingly, the production data just released from Mexico’s INEGI shows that the country’s silver production in May was even less […]
The Eurozone’s financial disintegration
The Eurozone’s financial disintegration Introduction The Euro Crisis Monitor (above) shows the increasing imbalances in the TARGET2 settlement system between all its members: the ECB (itself with a €145bn deficit) and the national central banks in the Eurozone. Other than minor differences reflecting net cross-border trade not matched by investment flows going the other way, […]
Weekly Commentary: Precarious World
Weekly Commentary: Precarious World Another fascinating – if not comforting – week. A Friday Wall Street Journal headline: “Big Tech’s Embarrassment of Riches – Amazon, Apple, Facebook and Google all show resilience during pandemic while undergoing congressional scrutiny.” Amazon, Apple, Facebook and Google all reported booming earnings the day following Wednesday appearances by respective CEOs […]
GDP & Consumer Confidence in Crash Mode
GDP & Consumer Confidence in Crash Mode The impact of Coronavirus is far worse than most can imagine. GDP dropped 32% during the 2nd-quarter which is a new historical record surpassing every recession and the Great Depression of both the 19th and 20th centuries. The epidemiologists cannot be this stupid. The people who have died […]
Mission Accomplished: Fed Officially Blows The Biggest Ever Bubble
Mission Accomplished: Fed Officially Blows The Biggest Ever Bubble Mission Accomplished: Stocks managed gains on the month (4th month in a row) – Nasdaq best, Dow worst… Source: Bloomberg And note that despite the epic surge in the mega tech stocks overnight… Yes, that is AAPL up 10%!! (GOOGL -4%)…MSFT managed to rally back to […]
Explaining the Credit Cycle
EXPLAINING THE CREDIT CYCLE This article summarises why the credit cycle leads to alternate booms and slumps. It is only with this in mind that they can be properly understood as current economic conditions evolve. The reader is taken through three monetary models: a fixed money economy, one governed by changes in bank credit, and […]
Can Anyone Save the World?
Can Anyone Save the World? COMMENT: DO YOU HONESTLY THINK YOU OR SOCRATES CAN SAVE THE WORLD ?WELL MAYBE YOU CAN IF YOU GET ALL THESE BILLIONAIRES TOGETHER! IM SURE MANY OF THEM ARE NOT ON THE GLOBAL GREEN SOCIALIST SIDE! WHATS STOPPING YOU…? CK REPLY: You completely misunderstand what is possible. Nobody can save the world. […]
We Are Experiencing Economic Devastation On A Scale That America Has Never Seen Before
We Are Experiencing Economic Devastation On A Scale That America Has Never Seen Before For a very long time we have been warned that a U.S. economic collapse was inevitably coming, and now it is here. Fear of COVID-19 and unprecedented civil unrest in our major cities have combined to plunge us into a historic […]
Peter Schiff: The Dollar Is Not Just Going Down; It’s Going to Crash
Peter Schiff: The Dollar Is Not Just Going Down; It’s Going to Crash As gold was closing in on its all-time record price last week, Peter Schiff appeared on the Claman Countdown and warned about the looming dollar crisis. Claman set up the interview pointing out that Peter predicted this big move up in gold months ago and asked, […]
Nobody Knows How to Ever Get Out of This Mess
Nobody Knows How to Ever Get Out of This Mess “Extend and Pretend” forevermore. This is the transcript of my podcast last Sunday, THE WOLF STREET REPORT. You can listen to it on YouTube, and you can find it on Apple Podcasts, Spotify, Stitcher, Google Podcasts, iHeart Radio, and others. Until a few months ago, most Americans […]
Chevron Shares Slide After Recording Historic Quarterly Loss
Chevron Shares Slide After Recording Historic Quarterly Loss Chevron Corporation reported a loss of $8.3 billion for the second-quarter 2020, the worst quarterly decline in a generation, and warned: “COVID-19 significantly reduced demand for our products and lowered commodity prices.” Chevron lost $1.59 per share on an adjusted basis while recording revenues around $13.49 billion. In the same quarter last year, […]
Rabobank: Everyone Thinks They Know What’s Going On When They Actually Don’t
Rabobank: Everyone Thinks They Know What’s Going On When They Actually Don’t Try Not To Be Rash(omon) The 1950 movie ‘Rashomon’ from director Akira Kurosawa a classic which infamously telling the story of a terrible crime from four different points of view. The “Rashomon effect” is a related term describing the notorious unreliability of eyewitnesses, […]
