by Chris Campbell
Laissez Faire Books
If anyone ever calls you insane or weird, take it as a compliment.
It’s pretty clear to me that the absolute last thing you want to be is normal or sane in America.
Here are a few reasons why…
Personally, as a millennial, I don’t think it’s exactly sane that die-hard “progressivism” is considered by most millennials as the default thought-mode. As if millennials are all robots programmed at birth to think alike. (We’re not. But, hey, that’s what public schools are for!)
A Brexit vote would only have negative economic consequences for the UK and could trigger a downward spiral of plummeting house prices and lower growth, the head of the International Monetary Fund has warned.
As most of you know, each week I assist the good folks at Sprott Money with their “Weekly Wrap-up” segment. With Eric unavailable this week, I was able to line up a special guest appearance from our pal, Andrew Maguire. The resulting audio is an absolute must listen for everyone at TFMR and the greater metals community, at large.
A correspondent who describes himself as “a 26-year old college graduate who strongly supports a system of free enterprise,” recently wrote me to say that he is “continuously confronted with questions that are most difficult to answer.” He appended a list of 10 of them, and asked for my comments.
The U.S. media has taken its propaganda game to stunning levels. The reason is that the majority of the population – at the least the majority of those who even bother to make an attempt at staying apprised of current events – will believe anything it reads in the newspapers or hears/sees on on tv. Put it on an CNN and it’s true (Note: CNN and MSBC are inter-changeable).
Friday the 13th may have negative historical connotations, but we have no reason to change our daily routines. Unless, of course, our livelihoods are directly tied to the traditional brick-and-mortar retail space, particularly department stores.
You should make a hasty getaway if a big-name tech stock is weighing down your portfolio…
Despite maintaining an overbought condition and despite the recent bearish posture of many sector pundits, the gold stocks have yet to correct more than 11%. Since the end of January the gold stocks have held above their 50-day moving averages, which is often support during a strong trend. If the gold stocks break their lows of the past two weeks then it should usher in a 20% correction and correct the current overbought condition. However, if gold stocks do not break initial support they could begin a melt-up that would lead to a more serious correction in the summer.
Yesterday, the World Gold Council released its estimate of gold demand for the first quarter of 2016, which compared with supply estimated at 1,081 tonnes.
Donald Trump’s brash, unfiltered mouth, which he is leveraging to stay in the media spotlight 24/7, may be taking root in broader society. On Wednesday, Jamie Dimon, the Chairman and CEO of the largest bank in the U.S., with buttoned-down, old money clients, called a fellow banker a “jerk” during an on-air conversation at CNBC.
The dollar is in trouble on this Friday the 13th, even with this morning’s better-than-expected report on retail sales.
Investing.com – Bank of Japan Governor Haruhiko Kuroda defended negative interest rates on Friday, suggesting underlying price trends are rising.
In my latest tout for the E-Mini S&Ps, I’ve described what would need to happen for the futures to plummet and the Dow Industrials to fall about 300 points.
Retail department store sales are in a funk.
In the current political climate, we hear again and again that the key to lessening the prevalence and effects of poverty is to raise nominal incomes. We hear it repeatedly in calls for a “living wage” and calls for a minimum wage. It is further promoted in debates over a “minimum basic income,” Social Security, and other types of taxpayer-funded social benefits.
Battling an uncertain global economic environment, investors can’t seem to get enough of gold right now, and there’s little sign of that demand letting up.
In Part 2 of the GoldMoney® roundtable recorded in Toronto, our panel discusses the history of other items of value—such as salt—and how they fare compared to gold over time.
Voting amounts to answering that question about whether you’ve stopped beating your wife.
Ryanair will not diversify into gold, a Bloomberg News conference on Brexit heard today, when the CEO of one of Europe’s largest airlines said that the airline would be unlikely to do so, as gold was in his eyes a “risky asset.”