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Articles related to economy
 
John Butler - Goldmoney
Palladium to underperform the PM complex
In recent weeks palladium prices have soared to levels only rarely seen. This is all the more impressive in that precious metals prices more generally have moved sideways, including palladium’s big sister platinum. There are fundamental explanations offered but we do not believe these justify sustained high prices. More probably, non-physical speculative traders have chased upward momentum of late, leaving palladium exposed to highly asymmetric downside in the event these traders choose to exit.
Sunday, June 25, 2017
Steve Saville - Speculative Investor
Gold’s True Fundamentals
To paraphrase Jim Grant, gold’s perceived value in US$ terms is the reciprocal of confidence in the Fed and/or the US economy. Consequently, what I refer to as gold’s true fundamentals are measures of confidence in the Fed and/or the US economy. I’ve been covering these fundamental drivers of the gold price in TSI commentaries for almost 17 years. It doesn’t seem that long, but time flies when you’re having fun. No
Saturday, June 24, 2017
Mac Slavo - ShtfPlan
Canary In The Coal Mine: Unfunded Liabilities Have Turned Illinois Into A “Banana Republic” On The Brink Of Bankruptcy
Illinois is the perfect example of what happens when your state is run by fiscally irresponsible dunces for decades. The state is buried debt, and hasn’t passed a budget in over 700 days. 100% of their monthly revenue is being consumed by court ordered payments, and the Illinois Department of Transportation has revealed that they may not be able to pay contractors (who are working on over 700 infrastructure projects) after July 1st if the state doesn’t pass a budget. To top it all off, the state
Friday, June 23, 2017
Mish - Global Economic Analysis
Citizens Will Soon Turn their Rage Towards Central Bankers
Via Email, I received an interesting article from Albert Edwards at Societe Generale. Edwards claims citizens will soon turn their rage towards Central Bankers. In an age of “radical uncertainty” how long will it be before angry citizens tire of blaming an impotent political system for their ills and turn on the main culprits for their poverty – unelected and virtually unaccountable central bankers? I expect central bank independence will be (and should be) the next casualty of the current poli
Friday, June 23, 2017
Egon von Greyerz - Matterhorn AM
  HUBRIS KILLS WHILST GOLD PROTECTS 
Hubris is a deadly sin. It is an arrogance and conceit of the highest degree that eventually leads to failure. As we reach the final stages of the current economic cycle, hubris is prevalent everywhere. Central bankers and bankers believe that they can continue to create wealth by printing and borrowing money. Since it has worked so well for 100 years in this latest cycle, why can’t it continue? The laws of nature can’t be set aside Throughout history, governments have attempted to set aside th
Thursday, June 22, 2017
Phoenix Capital - Gains Pains & Capital
Junk Bonds Signal the Great Global Debt Binge Is Coming to an End
The market has gone absolutely nowhere for 15 weeks now. That is not a typo, nor am I bearing overly negative. Since the end of February, when President Trump last tweeted that he had big plans for the economy, the S&P 500 is up a total of just 1.6% or roughly 39 points. And THIS is the raging bull market that everyone is so crazy about? A market in which it took almost FOUR months for stocks to eek out a 1.6% gain? Meanwhile against this backdrop of unhinged bullishness, the credit markets are
Thursday, June 22, 2017
Alasdair Macleod - Finance and Eco.
Left wing, ...
One of the saddest things about Britain’s recent general election was the level of ignorance displayed by all parties on the broad subject of political economics. I use the term to include both political philosophy and pure economic theory.Labour, the Liberal Democrats and the Scottish Nationalists seem to think free markets are right-wing. The Conservatives appear to have lost all compass, most government ministers believing free markets without government regulation are chaotic, with unscrupul
Thursday, June 22, 2017
Mish - Global Economic Analysis
  Bitcoin in Perspective: Bill Gates Worth More, Gold 200 Times More
An interesting article on HowMuch puts the Bitcoin phenomenon into proper perspective. Google founder Larry Page’s net worth beats bitcoin’s entire market cap. Microsoft founder Bill Gates’s net worth is double Bitcoin. Please consider The Bitcoin Economy, in Perspective. Last year, Bitcoin became more stable than gold, and earlier this year, the price of a Bitcoin surpassed that of an ounce of gold for the first time. Currently, all the bitcoin in the world is worth $41 billion. If that amoun
Thursday, June 22, 2017
Phoenix Capital - Gains Pains & Capital
Your Future Wealth Depends on what You Decide to Keep and Invest in Now
Millienials look for instant gratification Spend half of their income on leisure Instant gratification doesn’t work if need to save for the future Savings rates falling, few have retirement funds Important to understand marginal difference between spending and pleasure Future wealth depends on what you decide to keep and invest in now This week the festival of all festivals begins, Glastonbury 2017. Ed Sheeran, Foo Fighters and Barry Gibb will each be singing to the 250,000 revellers who are cu
Thursday, June 22, 2017
Phoenix Capital - Gains Pains & Capital
Are Central Banks Getting Ready to Crash the System Again?
While investors pile into Tech Stocks based on endless promotion from the financial media, the US economy is rolling over. Last week the NY Fed downgraded its economic forecast for 2Q17 to just 1.9%. Even worse, it is now forecasting 2017 total growth to be a measly 1.5%. Yes, 1.5%. There is a clear trend to this chart… and it’s NOT up. Source: NY Fed Wait, it gets worse. The Citi Surprise Index has collapsed to levels not seen since 2011. Source: Yardeni Research Why does this level matter? T
Wednesday, June 21, 2017
Andy Hoffman - Miles Franklin
Valuation Anomalies Suggest Historic Precious Metal Lows
Today, we’re going to start with an interview with billionaire Frank Giustra – perhaps, Canada’s most famous mining stock promoter.  Who, in this interview, comes as close to accusing gold of being manipulated as mainstream investors are “allowed.” Do you think the gold market is manipulated? No, I don’t think it is manipulated.  Manipulation is a strong word. But I do believe it is managed, by the policy makers who need to keep confidence in a system when it goes sideways.  Any major spike in t
Wednesday, June 21, 2017
USA GOLD - USA Gold
The Daily Market Report: Gold Eying Support Just Below the Market
USAGOLD/Peter Grant/06-21-17 Gold has turned more consolidative, having perhaps found support ahead of trendlines and the 200-day moving average. After closing lower in 8 out of the last 10 sessions, the yellow metal was arguably oversold on a short-term basis and is due for a bounce. Despite continued firmness in the stock market and assurances from the Fed that all is well, there remains an underlying air of uncertainty that is helping to underpin the yellow metal with some safe-haven interest
Wednesday, June 21, 2017
Bullion Vault
Gold Price Slips vs. Falling Dollar as Oil Bounces, Bank of England Split Boosts 'Brexit-Hit' Pound
GOLD  PRICES held near 5-week lows against a falling US Dollar on Wednesday, trading at $1243 per ounce as commodities rallied but world stock markets extended Tuesday's retreat in New York. As Brent crude oil rallied $1 per barrel from yesterday's 7-month lows near $45, that pulled the EuroStoxx 50 index of major European shares more than 1% lower. The British Pound meantime rallied aft
Wednesday, June 21, 2017
USA GOLD - USA Gold
BOJ’s Kuroda: need to stick with easing, watch price trend
Reuters/Stanley White/06-21-17 Bank of Japan Governor Haruhiko Kuroda said maintaining the current easy monetary conditions is appropriate because prices are lagging improvements in the economy and remain distant from the central bank’s inflation target. …”Our economy is on firmer footing, but we are still distant from our 2 percent inflation target,” Kuroda said. “It is appropriate to keep monetary conditions easy with our current market operations framework.”
Wednesday, June 21, 2017
Julian D. W. Phillips - Gold Forecaster
Gold Market Morning: June-21-2017: Gold still stabilizing below $1,250
Gold Today–New York closed at $1,243.50 yesterday after closing at$1,251.5 yesterday.London opened at $1,246.00 today.Overall the dollar was slightly stronger against global currencies, early today. Before London’s opening:-The $: € was slightly stronger at $1.1145 after yesterday’s$1.1155: €1.-The Dollar index was stronger at 97.66 after yesterday’s 97.57.-The Yen was stronger at 111.14 after yesterday’s 111.39:$1. -The Yuan was slightly weaker at 6.8264after yesterday’s 6.8258: $1. -The Pound
Wednesday, June 21, 2017
Steve Saville - Speculative Investor
The Central-Bank Moment
Hyman Minsky was an economist who popularised the idea that “stability leads to instability”. According to Minsky and his followers, credit expands rapidly during the good times to the point where a lot of borrowing is being done by financially fragile/vulnerable entities, thus sowing the seeds of a financial crisis. That’s why the start of a financial crisis is now often referred to as a “Minsky moment”. Unfortunately, Minsky’s analysis was far too superficial. Minsky described a process during
Wednesday, June 21, 2017
Mish - Global Economic Analysis
Expect Another Decline in Import and Export Prices: What, Me Worry?
Another decline in import and export prices will likely have the Fed pulling its hair out. A pair of charts will explain why. West Texas Intermediate Crude Price Crude is in a bear market, down about 22% since the December high. Price is lower in four consecutive months and five out of the last six. On June 15, I reported Import Prices Dip, Export Prices Plunge. Let’s explore the import/export price relationship to crude. Import and Export Price Indexes vs. Crude Don’t be confused by the Fred
Wednesday, June 21, 2017
Mac Slavo - ShtfPlan
“Socialism Has Produced Some Very Powerful Millionaires”: As Venezuelans Starve In The Streets, The Elites Party On
It’s always funny to debate socialists on the merits of their ideology. If you point to a country like Venezuela, and say “See! This is what socialism leads to,” they’ll no doubt claim that it isn’t a real example of socialism. But if you went back in time by just a few years, you’d find that their perception of Venezuela was quite different. Celebrities like Sean Penn, Oliver Stone, and Danny Glover praised the regime not too long ago, as did intellectuals like Noam Chomsky. Six years ago, Bern
Wednesday, June 21, 2017
Phoenix Capital - Gains Pains & Capital
Is the Fed About to Burst Its Third Bubble?
Stocks continue to trade at nosebleed valuations. According to Fact Set, the S&P 500 is currently trading at a P/E of 21. This is well above its 10-year average of 16.7. And bear in mind, eight of those ten years (from 2010-2017) were when stocks were already overvalued. Source: Fact Set. So the market is extremely overvalued today, even compared to a period in which it has been overvalued. This begs the question… just what justifies these valuation? It isn’t the US economy. GDP growth has be
Wednesday, June 21, 2017
John Butler - Goldmoney
The Golden Revolution, Revisited: Chapter 3
This Insight is the fifth in the serial publication of the new, Revisited edition of my book, The Golden Revolution (John Wiley and Sons, 2012). (The first instalment can be found here.) The book is being published by Goldmoney and will also appear as a special series of Goldmoney Insights over the coming months. This instalment comprises the third chapter of Section I.View the Entire Research Piece as a PDF here.The Sources of Economic "Inequality"“Why have labor market institutions and social
Wednesday, June 21, 2017
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