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Emerging Markets: Nothing New Under the Sun
Emerging Markets: Nothing New Under the Sun “That which has been is that which will be, and that which has been done is that which will be done. So there is nothing new under the sun.” Ecclesiastes 1:9 The events overtaking Argentina and Turkey in recent months are textbook cases of an emerging market crisis. […]
As Emerging Market Currencies Collapse, Gold is being Mobilized
As Emerging Market Currencies Collapse, Gold is being Mobilized In recent weeks, global financial markets have been increasingly spooked by an intensifying crisis in emerging market currencies including those of Turkey and Argentina. Add to this the ongoing currency crisis in Venezuela and the currency problems of Iran. While all of these countries have economy […]
Weekly Commentary: Unassailable
Weekly Commentary: Unassailable I’ve been here before and, candidly, it’s not much fun. Lodged in my mind this week was the brilliant quote from the 19th century German philosopher Arthur Schopenhauer: “All truth passes through three stages: First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as self-evident.” It’s fascinating how […]
Economic Doom Returns: Emerging Market Currencies Collapse To Record Lows As Global Financial Chaos Accelerates
Economic Doom Returns: Emerging Market Currencies Collapse To Record Lows As Global Financial Chaos Accelerates After a little bit of a lull, the international currency crisis is back with a vengeance. Currencies are collapsing in Argentina, Brazil, India, Turkey and other emerging markets, and central banks are springing into action. It is being hoped that […]
No Other Banks Are This Exposed to Turkey, Argentina, Brazil…. Emerging Markets Haunt Spanish Banks
No Other Banks Are This Exposed to Turkey, Argentina, Brazil…. Emerging Markets Haunt Spanish Banks To diversify from the euro-debt-crisis, the biggest Spanish banks pushed deeply into Emerging Markets. Now, they’re in a new crisis. Almost exactly six years ago, the Spanish government requested a €100 billion bailout from the Troika (ECB, European Commission and […]
Jim Rogers: “Before This Is Over, Gold Might Turn Into A Bubble”
Jim Rogers: “Before This Is Over, Gold Might Turn Into A Bubble” Famed investor Jim Rogers, chairman of Rogers Holdings, told Kitco News that while he is not yet buying gold at current levels, a rebound in the yellow metal could cause it to overheat. “Before this is over, gold could turn into a very […]
Which Emerging Markets Will Run Out Of Money First: Here Is The Answer
Which Emerging Markets Will Run Out Of Money First: Here Is The Answer For years, in fact for the duration of the US dollar’s use as a global carry currency, Emerging Markets – especially those with a currency peg – were a welcome destination for yield starved US investors who found an easy source of […]
Rupiah Plunges To 1998 Asian Financial Crisis Low Amid Emerging Market Liquidation
Rupiah Plunges To 1998 Asian Financial Crisis Low Amid Emerging Market Liquidation Despite four rate hikes by the Bank of Indonesia since May, the Indonesia’s rupiah slid to a two-decade low, falling to 14,750 per dollar, a level last hit during the Asian Financial Crisis of 1998, and just shy of an all time low, […]
Is Tunisia the next emerging market to implode?
Is Tunisia the next emerging market to implode? Seems like every few days a new developing country discovers that it can’t pay back the dollars and/or euros it borrowed back when “external foreign currency debt” seemed like a good thing. Next up: Tunisia, apparently. From today’s Wall Street Journal: Nation That Sparked Arab Spring Finds […]
Weekly Commentary: Powell, Greenspan and Whatever it Takes
Weekly Commentary: Powell, Greenspan and Whatever it Takes Fed Chairman Powell is in a tough spot, one made no easier now that he’s on the receiving end of disapproving presidential tweets. The global Bubble has begun to falter, which only exacerbates divergences between various markets and economies. The U.S. is booming, while China struggles and […]
Turkey’s Crisis and the Dollar’s Future
Turkey’s Crisis and the Dollar’s Future Last week’s collapse of the Turkish lira has dominated the headlines, and it is widely reported that this and other emerging market currencies are in trouble because of the withdrawal of dollar liquidity. There are huge quantities of footloose dollars betting against these weak currencies, as well as commodities […]
The 5 Previous Times This Stock Market Indicator Has Reached This Level Stock Prices Have Fallen By At Least 50 Percent
The 5 Previous Times This Stock Market Indicator Has Reached This Level Stock Prices Have Fallen By At Least 50 Percent Have you ever heard of the “Sound Advice Risk Indicator”? Every single time in our history when it has gone above 2.0 the stock market has crashed, and now it has just surged above […]
The Weaponization of the Dollar
The Weaponization of the Dollar The Uncivil Civil War discussed the sanguine approach many investors take towards equity risk despite clear signs of domestic political turbulence. The article put the upcoming elections and the growing political divisions amongst the populace into context with market risks. While we read plenty of politically related articles and many […]
The “Weakest” EIA Report In Years
The “Weakest” EIA Report In Years The EIA just published one of the “weakest” weekly oil reports in years, which suggests troubled waters ahead for the global oil market. The timing of the report is not ideal, coming amidst a currency crisis in Turkey, which has raised fears of financial contagion in other emerging markets. […]
