Two decades ago, Dana Carvey got laughs by imitating President George H. W. Bush and saying: “Wouldn’t be prudent”. Those were “prudent” times- the Perot balanced budget movement, the recurrent tax rises to deal with budget deficits (not that I favor tax increases) and the like- but the point was made to the public. If [...]
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Bloomberg.com is out today with a bullish piece on gold titled Gold Traders Most Bullish Since ’04 on Debt Crisis. There is only one somewhat negative quote; the rest of the article screams “Buy”. But here is the fundamental bad news: Commodities as measured by the S&P GSCI gauge are heading for their weakest performance [...] I was planning to take some time off from blogging, but the dramatic market action Thursday has induced me to put a brief post up. Not only is gold bullion beginning to look truly expensive relative to low P/E gold miners with 1% or greater dividend yields, but the gold:oil ratio is a bit extended, [...] My view is that knowing the Greek fix was in, the traders moved markets around the past week to suit themselves. Yours truly has been calling for $90 as the first stop in an oil bear market. Oil did bottom exactly at $90, helped to go that low by the announcement of the release of a day or two’s worth of global [...]
This multi-year chart of copper prices on the futures market is from Finviz.com. Headlines are most often about stocks and oil. Special sites focus on precious metals, but they tend to be more fringe-y.. Almost never in the popular press does copper get a mention. But copper prices may well tell the tale of [...] “Ben Bernanke has been wrong every month for eight years. I don’t know why anyone listens to him?” Ideologue and one of the world’s most successful investors, Jim Rogers speaks the truth. And he does this over and over yet are people listening to him? Interestingly, he always says he is a poor trader, but his [...] On February 28 of this year, I wrote a post for The Daily Capitalist entitled “Getting Real”. Its focus was the bullish case for the Brazilian real. Since that time, the real has appreciated about 1% a week. The closed-end fund that tracks the value of the real vs. the U. S. dollar, stock symbol [...] As when the bombs fell in the Mideast in winter 1991 in the Gulf War, and again in spring 2003 in the Iraq War, and in fall 2001 with the Afghan War, and in the 1960s when LBJ turned Viet Nam into a must-know-how-to-locate-on-a-map place for the cognoscenti, so with the country possessing Africa’s largest [...] We’ve only just gotten past the ides of March, but It’s getting to feel a lot like Bush-mas. With the continuation of so many Bush policies, such as favoritism toward large corporations at home and armed intervention in Muslim countries abroad, along with the increasingly indefensible Fed manipulation of interest rates to stay at unrealistically [...] |
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