| |
 | Michael Pento - Delta Global Advisors |
| Four Percent 10-year Note Yield Will Be a Floor No... |
| The two most important factors in determining the level of sovereign bond yields are the credit and inflation risks extant within a nation. When determining a country’s ability to service its debt investors must analyze not only the absolute debt level, but also the ratios of debt and deficits to GDP. In addition, the current rate of inflation must also be viewed within the context of debt in order to make an accurate assumption as to the level of future inflation.
When analyzing historical measWednesday, February 21, 2018 |
|
| Michael Pento - Delta Global Advisors |
| Record Bond and Stock Prices Sending the Same Message |
| The S&P 500 is trading near an all-time record high. But investors should
not take this as the all clear signal. According to most indicators, the market
is now more overvalued than ever before.
The Cyclically Adjusted Price to Earnings Ratio analyzes the value of the
S&P 500 Index with the 10-year average of "real" (inflation-adjusted) earnings
as the denominator to determine if the market as a whole is overvalued or undervalued.
Today this ratio sits at 26.73, close to the short-termTuesday, July 19, 2016 |
|
 | Gordon Long - Market Analytics |
| That's Just What We Need Journalists in the US to do; 'Excuse Me Mr. |
| FRA Co-founder Gordon T. Long is joined by Mish Shedlock in discussing the
rigging of gold and silver by Deutsche Bank and the reliability of so called "casino
banks" and the state of global banking institutions.
Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific
Capital Management. Sitka Pacific is an asset management firm whose goal
is strong performance and low volatility, regardless of market direction.
He is also a contributing "professoFriday, April 22, 2016 |
|
 | John Rubino - Dollar Collapse |
| Earnings Actuall Now Matter or Are They Too Bad To Ignore |
| Special Guest Host: John Rubino, Author & Publisher of DollarCollapse.com
With John Rubino & Gordon T Long
Published 04-19-16
32 Minute VIDEO
Bank profits are in trouble!. Don't be fooled by the "beat analyst estimates" charade,
because that is exactly what it is. First quarter bank earnings can only be
described as an unmitigated disaster.
With the aid of 24 charts, John Rubino and Gordon T Long discuss what they
see in this 32 minute video, what is important to be aware of and what isWednesday, April 20, 2016 |
|
 | James Howard Kunstler |
 The Elephant Cometh  |
| The elephant’s not even in the room, which is why the 2016 election campaign is such a soap opera. The elephant outside the room is named Discontinuity. That’s perhaps an intimidating word, but it is exactly what the USA is in for. It means that a lot of familiar things come to an end, stop, don’t work the way they are supposed to — beginning, manifestly, with the election process now underway in all its unprecedented bizarreness.
One reason it’sMonday, April 18, 2016 |
|
 | Wolf Richter |
| Peak Negative-Interest-Rate Absurdity Hilarity Ensues |
| Among the goodies: “reverse Yankee” landmines.
When a central bank like the ECB imposes negative interest rates along with QE on its bailiwick, funny things start to happen.
Investors become so eager to get any kind of visible yield that they will do the craziest things. They’re now chasing €3 billion of 50-year bonds that the French government placed today. The yield? 1.916%.
These 50-year bonds are bought by institutional investors who, in normal times, would have been institutionalized.
The iWednesday, April 13, 2016 |
|
| Wolf Richter |
| Super-Luxury Homes Hit by End of Wall Street “Wealth Effect” |
| “We won’t see this again until 2021.”
This had to happen. Now we’re getting reports that in the Hamptons, on Long Island’s east end, where Wall Street’s richest hobnob over the summer, home prices at the very top, after a phenomenal boom, are getting crushed.
What’s getting blamed? The crummy performance of the markets last year.
The average price in 2015 of the ten most expensive homes sold in the area has crashed 20% from a year earlier – to a measly $35.5 million.
After soaring a mind-bendingSaturday, March 19, 2016 |
|
| Michael Pento - Delta Global Advisors |
| Junk Rhymes with Subprime |
| On December 16th 2008, in what Ben Bernanke averred took a tremendous amount
of "moral courage", the Federal Reserve officially arrived at its Zero Interest
Rate Policy. ZIRP was a huge win for borrowers because it drove down the carrying
cost of debt to historic lows. Unfortunately, savers didn't fare as well.
Those frantic savers were forced to reach for yield far out along the risk
curve. And an obliging Wall Street issued over $1 trillion in new junk bonds
at the lowest spreads to Monday, January 11, 2016 |
|
| Wolf Richter |
| Let it Blow Up in Their Faces, Rather than in Our Faces |
| What gets stuffed into the Wall-Street sausage maker on the American side are dollar-denominated risky “leveraged loans” issued by over-indebted junk-rated companies, sliced and diced and lumped into Collateralized Loan Obligations that are then peppered with derivatives to hedge against currency fluctuations. What comes out of the sausage maker on the Japanese side are plump-looking, yen-denominated, highly rated bonds.
Blame the Bank of Japan. Where there’s enough demand, there will be supply.Sunday, April 19, 2015 |
|
 | Bob Hoye - Institutional Advisors |
| Positive Rotation Into May |
| Stock Markets
On this week's release of NYSE Margin Debt, Business Insider headlined "Traders
are betting on stocks with tons of borrowed money". As noted on our last review,
the pattern has been a compulsive peak in margin and a correction in the amount
and the stock market. Then the peak for the stock market would be set on the
secondary hSaturday, April 11, 2015 |
|
| Michael Pento - Delta Global Advisors |
| The World Has Become Obdurate |
| There is a perfect word that describes the current condition of governments
and consumers around the world today. The word is obdurate, and it means to
be stubbornly persistent in wrongdoing.
The word comes to mind when witnessing the renewed enthusiasm of central banks
to re-inflate old asset bubbles and to endlessly debase their currencies with
the misguided belief that inflation will engender sustainable economic growth.
In the case of the Fed, it has so far to date made at least thMonday, December 1, 2014 |
|
| Michael Pento - Delta Global Advisors |
Doves Don't Know History  |
| A wise saying goes like this; "Those who do not remember history are condemned
to repeat it." So ask yourself; what is the fate of those who seem to have
absolutely no recollection of events that happened just a few years ago?
We are nearing the end of 2014, and to the debt markets, it is almost as if
the 2008 economic collapse never happened. It appears that borrowers and lenders
are suffering from a severe case of collective amnesia. Yes, consumer debt
levels took a slight breather iMonday, September 22, 2014 |
|
| Bob Hoye - Institutional Advisors |
| Fed Dream Team |
| The following is part of Pivotal Events that was published for
our subscribers July 10, 2014.
Signs Of The Times
"The first half of the year is off to the best start since 2000 for
U.S. IPOs."
- Fox Business, June 27
"There have been 20 merger deals valued at more than $10 billion this
year, the biggest since the first half of 2007."
- Wall Street Journal, June 30
"As investors scour the landscape for income, the first half of the
year saw record amounts ofThursday, July 17, 2014 |
|
| James Howard Kunstler |
 Reality Optional Economics  |
| The total tonnage of economic malarkey being shoveled over the American public these days would make the late Dr. Joseph Goebbels (Nazi Minister of “Public Enlightenment and Propaganda”) turn green in his grave with envy. It’s a staggering phenomenon because little about it is conspiratorial; rather, it’s the consensual expression of a public that wants desperately to believe thingsThursday, July 10, 2014 |
|
| Bob Hoye - Institutional Advisors |
| Speculative Exhaustion |
| The following is part of Pivotal Events that was published for
our subscribers April 17, 2014.
Signs Of The Times
"A Major Demographic Tailwind Is Coming That Could Make The U.S. Boom
For Years"
- Business Insider, April 8
"The conditions for a bad market just don't exist. You can throw a
dart at the market and about anything you hit is gonna go up the next
six months."
- Bill Miller, former Chairman, Legg Mason, CNBC,
April 9
"Chronic Deflation Delayed"
Thursday, April 24, 2014 |
|
 | Andy Sutton |
| The Great Taper Caper |
| My Two CentsBy Andy SuttonLets do a little flashback this week and then look at some things and try to make some sense of what happened yesterday as the Great Taper Caper unfolds. We go back to March 3rd, 2009. Ben Bernanke was in front of Congress. He was allegedly under oath. He was asked directly by Senator Bernie Sanders this important question: Will you tell the American people to whom you lent $2.2 trillion of their dollars? Bernanke gave a one-word answer No. There are a couple of Saturday, December 21, 2013 |
|
 | Philippe Herlin - GoldBroker |
| Bubbles Everywhere |
| By Philippe Herlin - Researcher in finance / Contributor to Goldbroker.com
Are we witnessing the emergence of bubbles everywhere, or isn’t the whole thing becoming a gigantic bubble? All financial assets are going up at the same time, whether it be stocks, sovereign debts, or corporate bonds! And the issuers that are considered low-risk ones, like the USA or Germany for bonds, or blue chip companies, offer very low yields, even negative ones. This results in investors looking for yield on risThursday, May 16, 2013 |
|
| Bob Hoye - Institutional Advisors |
| No Persuasive Evidence of Financial Instability |
| The following is part of Pivotal Events that was published for
our subscribers March 14, 2013.
Signs Of The Times
"Disposable income, or the money left over after taxes, plunged 4
percent, the biggest plunge since monthly records began in 1959."
- Bloomberg, March 1
"The riskiest U.S. companies are tapping institutional investors at
the fastest pace ever."
- Bloomberg, March 1
"U.K. Manufacturing unexpectedly shrank in February as new orders
plunged."
- BloFriday, March 22, 2013 |
|
| Gordon Long - Market Analytics |
| Monetary Malpractice: Deceptions, Distortions and Delusions |
| The Hippocratic Oath is an oath taken by physicians swearing to practice medicine
ethically, honestly and above all, to do no harm to the patient. Unelected
central bankers do not take such an oath. They do however swear allegiance
to the Constitution.
On February 6, 2006, Ben Bernanke took an oath to the Constitution at his
swearing-in ceremony as Chairman of the Board of Governors of the Federal Reserve
System. The significance of this is that as a federal officer, despite being
thWednesday, December 26, 2012 |
|
| John Rubino - Dollar Collapse |
| Fed Policy Is Working - Moral Hazard Is Back |
|
A near-death experience isn't something one gets over right away.So it's no surprise that the US leveraged speculating community was a tad more cautious than usual for a while.Real estate investors, for instance, still bought houses, but only on very favorable terms where rental income would clearly exceed expenses.Thursday, October 4, 2012 |
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