from The Morgan Report
David Morgan‘s weekly perspective for July 22nd, 2017…
Metals price review Cobalt +81%; Aluminum +11; Copper +9 and the list goes on and on. Gold +9; Palladium +24; Silver +4 Platinum +3.6. Crude -15. Debt ceiling concerns emerge in the US Debt Markets. Investors are taking defensive measures to avoid negatives of a technical default. Housing alert in Australia, 1 million empty homes, up 200,000. Growing realization that Aussie housing market isn’t working well, no kidding. Chinese Black Swans cropping up. Chinese conglomerates under major pressure. BOA is cutting them off. Greece approved for a new IMF loan. You can’t create wealth by borrowing more when you’re already bankrupt. Nothing good will come of it. US real estate market had record high foreign buyer participation in 2016. China led the pack. CNBC says crypto’s are taking the role of gold for younger investors. Check out the movie obsolete. Walmart replaces over 4000 employees with machines. Walmart claims that they didn’t fire anyone, they put people on the sales floor. We’ll see how this works out. Great replacement of humans by machines and it will accelerate. Robotics is the future.
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