Friday, February 24, 2017
When Was America’s Peak Wealth? / Politics / US Politics
By: Raul_I_Meijer
A few days ago, I wrote an essay entitled “Not Nearly Enough Growth To Keep Growing”, in which I posited, among many other things, that “..the Automatic Earth has said for many years that the peak of our wealth was sometime in the 1970’s or even late 1960’s” along with the question “..was America at its richest right before or right after Nixon took the country off the gold standard in 1971?”
That same day, I received an email from (very) long time Automatic Earth reader and afficionado Ken Latta, who implied he thought the peak of American wealth was even earlier. That turned into a nice conversation. I really like the way his head works to frame his words. And Ken knows what he’s talking about by grace of the fact that he was a witness to it all.
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Friday, February 24, 2017
The Oscars – Worth Their Weight in Gold? / Commodities / Gold and Silver 2017
By: GoldCore
- 89th Oscars to air this weekend
- Oscars have been dipped in 24 karat gold since 1929
- If the Oscars were made of solid gold they would weigh 330 ounces
- 330 ounces of gold is worth $408,210 at today’s prices (nearly €400k & £330k)
- Only some $630 worth of gold in Oscar statue
- Oscars cannot be sold due to regulations
- Steven Spielberg keeps his gold Oscar with the Academy for ‘safe-keeping’
- Shows importance of owning gold in safest ways
- Price of gold has climbed from $20.67 since the first Oscars ceremony to over $1,237 today
Friday, February 24, 2017
California, Nestle and Decentralization - CalExit / Politics / US Politics
By: Antonius_Aquinas
Nestle USA has announced that it will move its headquarters from Glendale, California, to Rosslyn, Virginia, taking with it about 1200 jobs. The once Golden State has lost some 1600 businesses since 2008 and a net outflow of a million of mostly middle-class people from the state from 2004 to 2013 due to its onerous tax rates, the oppressive regulatory burden, and the genuine kookiness which pervades among its ruling elites.* A clueless Glendale official is apparently unconcerned about the financial repercussions of Nestle’s departure saying that it was “no big deal” and saw it as an “opportunity,” whatever that means!
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Thursday, February 23, 2017
Bitcoin Breaks Records and Sits at Cusp of All-Time High…Here’s Why / Currencies / Bitcoin
By: Jeff_Berwick
We have been the biggest proponent of bitcoin in the financial space since it was $3 in 2011.
It now sits just a few dollars from its all-time high (ex-Mt. Gox which wasn’t a legitimate high) of $1,150. And, bitcoin has remained above the $1000 price level for a record stretch of time - seven days!
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Thursday, February 23, 2017
Stock Market Mixed Volatile Day / Stock-Markets / Stock Market 2017
By: Harry_Boxer
The stock market indices had an interesting, but volatile session today, coming down sharply at the opening, testing support, and when that held they rallied to midday. They pulled back in the afternoon, backed and filled, and finished not far from all-time highs on the Nasdaq 100. Although the S&P 500 failed, it did make a run at it earlier in the day.
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Wednesday, February 22, 2017
Is it Stock Market Autumn 2007 All Over Again? / Stock-Markets / Stock Market 2017
By: Graham_Summers
While the financial world continues to delight in Trump Mania, the US economy has rolled over into recession.
I realize this sounds completely insane. After all, stocks are at new all time highs and a full 61% of Americans view the economy as “strong.”
Unfortunately, this is perception, not reality. When it comes to the economy today, Americans are like the guy who hasn’t realized the party is over, and keeps dancing while others are already starting to leave.
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Wednesday, February 22, 2017
Market Investments - No One Will Ever Care As Much as You / Stock-Markets / Investing 2017
By: Rodney_Johnson
I’m moving. And it’s a royal pain.Beyond the hassle of physically getting all of our stuff from one state (Florida) to another (Texas), I have to deal with a mortgage lender on the new house. At first, against my better judgment, I called Bank of America.
As I told the guy I spoke with, I’ve hated the bank for the entire 23 years I’ve been with them. There’s been way too many hassles for what should be simple business transactions.
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Wednesday, February 22, 2017
The Best Reasons to Buy Gold in the Age of Trump / Commodities / Gold and Silver 2017
By: MoneyMetals
Notwithstanding the strong demand for gold and silver globally, buying activity in the U.S. retail market for physical bullion has fallen noticeably in the wake of Donald Trump’s election victory. And retail selling in the U.S. has increased. The bullion markets have entered a new phase.
The two terms of President Obama included the aftermath of the 2008 financial crisis, zero interest rate policy from the Federal Reserve, and multiple rounds of Quantitative Easing. Reasons to buy silver and gold were plentiful. Today, the reasons to diversify into gold and silver are as strong as ever, but they're perhaps less obvious to the average retail buyer in the U.S.
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Wednesday, February 22, 2017
Silver, The Return of Stagflation / Commodities / Gold and Silver 2017
By: DeviantInvestor
Steve St. Angelo wrote an insightful article relating the silver to gold ratio to the S&P 500 Index. I encourage you to read his articles and analysis.
My commentary on the silver to gold ratio:
The following graph shows the SI/GC ratio versus the S&P500 index beginning in August 1971 when President Nixon severed the final gold backing of the US dollar. Currency in circulation, debt, consumer cost of living, and most prices including gold, silver, crude oil, and the S&P rose in devalued dollar units.
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Wednesday, February 22, 2017
Why EU BrExit Single Market Access Hard line is European Union Committing Suicide / Politics / BrExit
By: Nadeem_Walayat
Some 8 months on from the British people voting against the interests of the establishment elite, most notable of which was for the emergence of an undemocratic european super state that further concentrated power into their own hands to the detriment of ordinary people. Britain is counting down to the triggering of Article 50, the formal request to LEAVE the European Union within a technical 2 year time limit for completion of but in practice may extend to several more years beyond. However, the EU elite even before the June 23rd 2016 vote, have been persistently warning the British people that they will be punished for voting for freedom from the EU super state, where the unsaid reason being so as to prevent a total collapse of the European Union as other states take Britians cue to rush for exit freedom.
Wednesday, February 22, 2017
Why the US Democratic Party Is Dead / Politics / US Politics
By: Jesse
One more time.
My fear is that well-meaning people will focus on 'getting rid of Trump,' without considering what sort of leadership will replace him.
Hillary Part Deux? Or some other corporatist stooge from the GOP who runs a smoother, more polished con on the working class?
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Wednesday, February 22, 2017
There is No Market, Only Trump / Stock-Markets / Financial Markets 2017
By: Graham_Summers
Those who lived through the ‘80s will undoubtedly remember the famous scene from the original Ghostbusters in which Bill Muray’s character goes to see Sigourney Weaver.
Unbeknownst to Murray, Weaver’s character has been possessed by a demonic spirit. And every time he states to her, “I want to talk to Dana” (the name of Weaver’s character in the movie), she responds, “There is no Dana, only ZUL!!!”
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Wednesday, February 22, 2017
Gold: Short End US Rates Matter More Than Long End Real Yields / Commodities / Gold and Silver 2017
By: Bob_Kirtley
In the years following the GFC, short end yields in the US were contained for an extended period of time as the Fed committed to keeping rates on hold. Given the static nature of the short end, and the shift of monetary policy implications further out the curve through QE programs, long end US rates became the focus. When discussing the drivers of gold prices, long end US real rates (the yield on inflation protected bonds) was the critical factor. However over the past couple of years, the Fed has hiked rates twice, and we now have live meetings with an active short end. This has reduced the impact of long end real rates on gold, and instead shifted the focus to the short end. We now form our view on gold prices overwhelming based on short end rates, as opposed to long end yields. Our bearish view on gold prices is derived from a Fed hike in June.
Wednesday, February 22, 2017
Trump Chooses Hawkish National Security Advisor / Politics / US Politics
By: Stephen_Lendman
On Monday, Trump named hawkish Army Lt. General HR McMaster to replace Michael Flynn as National Security Advisor (NSA).
Political pressure lead to his unfortunate sacking for harmlessly discussing sanctions with Russia’s US ambassador.
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Wednesday, February 22, 2017
Trump Plans Mass Deportations / Politics / Immigration
By: Stephen_Lendman
Obama was notoriously called America’s “deporter-in-chief” for conducting sweeping Immigration and Customs Enforcement (ICE) raids nationwide - expelling record numbers, more than all his predecessors combined.
He largely targeted undocumented Mexicans and Central Americans, averaging over 1,000 deportations daily - people in the United States because destructive NAFTA and DR-CAFTA trade deals destroyed their jobs at home, or sought asylum from domestic violence and chaos.
Trump appears bent on exceeding Obama’s viciousness. Thousands of new ICE and border patrol agents are being hired. Stepped up sweeping raids will follow, more than already.
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Wednesday, February 22, 2017
2017 - A Sterling Year For Silver? / Commodities / Gold and Silver 2017
By: David_Morgan
I have spent most of my life watching, writing, speaking, trading, investing, and listening to almost any and everything to do with the silver market. Given this, there are several insights that you (the market) have provided me over and over again, at a level rising to conviction about many retail silver market participants.
Wednesday, February 22, 2017
CONTINENTAL RESOURCES: Example Of What Is Horribly Wrong With The U.S. Shale Oil Industry / Commodities / Shale Oil and Gas
By: Steve_St_Angelo
According to Continental Resources website, it labels itself as America’s oil champion. To be a champion, one is supposed to be winner. Unfortunately for Continental, it’s taking a serious beating and is a perfect example of what is horribly wrong with the U.S. Shale Oil Industry.
During the beginning of the U.S. shale energy revolution, the industry stated it would make the United States energy independent. The mainstream media picked up this positive theme and ran with it. Americans who wanted to believe in this “Growth forever” notion, had no problem going further into debt to buy as much crap as they could to fill their homes and additional rental storage units.
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Wednesday, February 22, 2017
Stock Market Strong Start to the Week / Stock-Markets / Stock Market 2017
By: Harry_Boxer
The stock market indices were very strong today to start the week with big gaps up and strong runs early morning, midday they came down three or four times and tested support, unable to break them, and then rallied in the afternoon, finishing near the highs for the day for more new all-time highs.
Net on the day, the Dow was up 118.95 at 20,743.00. The S&P 500 was up 14.22 at 2365.38. The Nasdaq 100 was up 26.00 at 5350.73. All three closed near the highs for the day.
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Tuesday, February 21, 2017
How The Slowing Shipping Industry Could Spark A Banking Crash In Germany / Economics / Germany
By: John_Mauldin
BY ANTONIA COLIBASANU : In geopolitics, events rarely occur in isolation.
Several stories about German exports, banks, and the shipping industry recently appeared in the media. But these stories do not gain their full significance unless taken as part of a bigger picture.
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Tuesday, February 21, 2017
Here’s Proof Rising Rates Are Good for Gold / Commodities / Gold and Silver 2017
By: John_Mauldin
John Grandits writes: When the Federal Reserve raised interest rates in December—and then laid out a plan to do so three more times in 2017—theory suggested gold should fall. As gold is a non-yielding asset, the cost of holding it increases as rates rise. However, theory doesn’t always convert into practice.
Since the Fed’s decision, gold is up 7.5%—and it’s no anomaly.
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