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Why S&P Bulls Should Worry As The Baltic Dry Collapse Nears Worst On Record
Why S&P Bulls Should Worry As The Baltic Dry Collapse Nears Worst On Record As we noted recently, despite global stock markets soaring, global freight indices have been more-than-seasonally weak so far in 2019 with the Baltic Dry Index in particular crashing. The Baltic Dry Index represents the cost of renting an ocean-going container ship […]
China Accelerates Renewed Gold-Buying Spree “To Diversify Its Reserves”
China Accelerates Renewed Gold-Buying Spree “To Diversify Its Reserves” After China’s official gold reserves rose for the first time in around two years (since Oct 2016) in December, Beijing appears to have joined the global gold rush, increasing its gold reserves for the second month in a row in January to 59.94 million ounces. As […]
Fed Warns Dollar “Might Not Retain Its Dominance Forever”
Fed Warns Dollar “Might Not Retain Its Dominance Forever” When the TBAC published the minutes to its quarterly refunding decision two weeks ago, the most interesting part of the discussion was the “unique challenges” faced by the Treasury over the medium term, especially the possibility of significant financing gap over next 10 years amounting to over $12 […]
US National Debt Tops $22 Trillion
US National Debt Tops $22 Trillion For 8 years, we took every opportunity to point out that under Barack Obama’s administration, US debt was rising at a alarmingly rapid rate, having nearly doubled, surging by $9.3 trillion during his term. And while the absolute pace is slower, the trajectory of US debt under the Trump administration looks […]
Finance, Fossil Fuels, and Climate Change
Finance, Fossil Fuels, and Climate Change Networks of Power in Canada In our home country of Canada, the disparity between climate rhetoric and practice was recently pushed into the spotlight when Prime Minister Justin Trudeau – an avowed climate champion – purchased on behalf of Canada an unfinished bitumen pipeline from Houston-based corporation Kinder-Morgan. The […]
We’re Overdue for a Sell-Everything/No-Fed-Rescue Recession
We’re Overdue for a Sell-Everything/No-Fed-Rescue Recession We’re way overdue for a sell-everything recession, one that the Fed will only make worse by pursuing its usual policies of lowering interest rates and goosing easy money. As I noted last week, central banks, like generals, always fight the last war–until the war is lost. The global economy is […]
Technically Speaking: Stuck In The Middle With You
Technically Speaking: Stuck In The Middle With You In this past weekend’s missive, we discussed the market stalling at the 200-dma. To wit: “We said then the most likely target for the rally was the 200-dma. It was essentially the level at which the ‘irresistible force would meet the immovable object.’” “What will be critically important now […]
Reason #437 to own gold: The Fed wants Negative Interest Rates
Reason #437 to own gold: The Fed wants Negative Interest Rates And just like that, it seems we’re headed back to quantitative easing… After cutting interest rates to nearly zero following the 2008 crisis, the Federal Reserve starting raising rates near the end of 2015 (from 0.25% to 2.5% today). Following the most recent hike […]
Rant Alert
Rant Alert Warning. Rant Alert: The global central bank easy money experiment has failed and it is past time that central bankers stopped bullshitting us and just admitted it. Europe is about to enter a recession and rates are still negative, the US Fed just tried to reduce its balance sheet with the greatest economic […]
Salvini Proposes Seizing Control Of Italy’s Gold Reserves From The Central Bank
Salvini Proposes Seizing Control Of Italy’s Gold Reserves From The Central Bank Italy’s populist de facto leader Matteo Salvini seems set on shaking Europe’s financial establishment to the core. One day after the Italian deputy prime minister and leader of the League party, called for the elimination of Italy’s central bank and the country’s financial regulator, Consob, saying the […]
2019: The Three Trends That Matter
2019: The Three Trends That Matter Look no further than Brexit in Britain, the yellow vests in France and the Deplorables in the U.S. for manifestations of a broken social contract and decaying social order. Among the many trends currently in play, Gordon Long and I discuss three that will matter as 2019 progresses: 2019 Themes (56 […]
Blain’s Morning Porridge – 11th February 2019
Blain’s Morning Porridge – 11th February 2019 “A little bit of an altercation in the scrum, they’ll be laughing at that in Hawick.” What a fascinating world we live in. Amazon boss Jeff Bezos exposing himself, and exposes the National Inquirer for attempted blackmail. A young senator, Alexandria Ocasio-Cortez, snaring the headlines and proposing a […]
The European Crisis of Philosophy is the Destruction of the European Union
The European Crisis of Philosophy is the Destruction of the European Union The entire project of creating the Euro was a means to allow Northern Europe to effectively takeover Southern Europe and impose its philosophy in a totally one-sided arrangement. I have stated plenty of times that all the debts of member states should have […]
Salvini Calls For Elimination Of Italy’s Central Bank, “Prison Time For Fraudsters”
Salvini Calls For Elimination Of Italy’s Central Bank, “Prison Time For Fraudsters” On Friday, in a moment of predictive insight, Bank of America correctly warned that the greatest threat to EPS – i.e., markets – in the next 3 years “is an acceleration of global populism via taxation, regulation & government intervention.” Just one day later, this […]
