By: Peter Schiff, Euro Pacific Capital, Inc. - 24 February, 2006
It is widely believed that the Federal government has an unofficial policy that some banks and other financial institutions are simply too big to fail. As a result, it is assumed that the government will take any action necessary to ensure that they do not. It now appears to me that there is a similar doctrine in effect for bubbles, in that some are simply too big to burst. Housing, which is the lynchpin holding together the entire U.S. economy, certainly fits that category. To paraphrase Winston Churchill “never in the field of economics has so much been owed by so many to just one thing.” Full Story
By: Rick Ackerman, Rick's Picks - 24 February, 2006
We picked up some put options in Agnico Eagle Mines and IBM, although an attempt to get short in D.R. Horton as well proved a tad too ambitious. The homebuilder’s shares opened at their best levels of the day, but that was still 62 cents shy of our short offer. Concerning Agnico, it is not often that I recommend shorting the shares of a mining stock, but it has had quite a run-up and was looking especially vulnerable. Full Story
By: Bill Bonner, Addison Wiggin & Congressman Ron Paul, The Daily Reckoning - 23 February, 2006
-Leave it to the worrywarts...an unsustainable consumer spending pace... -Deception is so much more fun than the truth...port security paranoia is breeding a wave of protectionism... -No more thinking after lunch...at least putting up a stonewall leaves your soul fairly unscathed...and more! Full Story
By: Rick Ackerman, Rick's Picks - 23 February, 2006
Working at home has its advantages, not the least appealing of which is to be able to enjoy the local traffic reports for their entertainment value rather than as strategic intelligence. I often don’t get around to shaving until after my daily workout in the late afternoon, and blue jeans are about as dressy as my work attire gets. I can take the dog for a jog around the pond when things get stressful, or get a haircut when there’s no one ahead of me. And there are of course the untold benefits that accrue to one’s marriage. Full Story
By: Bill Bonner, Chuck Butler & Congressman Ron Paul, The Daily Reckoning - 22 February, 2006
-In our high-tech economy, people still manage to lose their money the old-fashioned way...we'll let them sweat and think... -Welcome to the Big Top...the longest and most expensive war in U.S. history... -"Terror" is a tactic, not an enemy...the world is not as simple as the simpletons thought...and more! Full Story
By: Richard Daughty, The MOGAMBO GURU - 22 February, 2006
I don't remember the sound of wolves howling in the distance, but it was a darkly inauspicious start to the beginning of the Bernanke reign of monetary terror and pain, as Total Fed Credit at the Federal Reserve shot up by $6.7 billion last week, which is a handy measure of the amount of excess money and credit are being created - poof! -out of thin air by the monstrous Federal Reserve. Full Story
By: Rick Ackerman, Rick's Picks - 22 February, 2006
Several items pertaining to the perennially sunny real estate market came across my desk yesterday, reminding me of why we should always take the stock market’s innate inability to sniff out recession/depression with a grain of salt, if not a dose of humor. Indeed, so vast is the chasm that separates Wall Street from Main Street in the way each interprets the news that I hesitate to spin 50-year mortgages as other than a fabulous idea, lest some of you think me churlish. But there are nonetheless still a few of us left who would say that the very notion of a 50-year mortgage -- like reality TV, deep-fried Oreo cookies, time-shares and Paris Hilton -- is evidence of civilization’s steep decline. Full Story
By: Bill Bonner, Steve Sjuggerud & Dr. Kurt Richebächer, The Daily Reckoning - 21 February, 2006
-A communist country with capitalist aspirations...wealth is steadily leaving the United States... -Keeping an eye on those crazy chickens...life comes with hazards, risks, and dangers... -The safest place to put money is where you don't have to worry about the price falling...investments equipped with airbags...and more! Full Story
By: David N. Vaughn, Gold Letter, Inc. - 21 February, 2006
Here is a good question to consider. You want to make a lot of money in gold & silver stocks, but how do you minimize risk? Or how do you maximize the possibility of scoring a win? All gold & silver stocks come with an element of risk and naturally the exploration plays will offer the greatest risk & also the greatest reward. Mining companies that are developing an already proven deposit will of course be less risky because their share price generally has already climbed substantially to reflect the company’s success. Full Story
The mother of violence walks amongst us. The first hint of fear in the financial markets could be seen last May. So I wrote our subscribers and reiterated my bullish position on gold for the first time in a year and a half. But this fear smells distinctively different and I feel compelled to bring forward a discussion of something truly obscene. After all, so much of what were mere expectations a few short years ago are now mainstream financial news. So my opinions had moved from obscene to downright respectable. But speaking about what I see for the next few short years will keep me lonely at cocktail parties once again: A catastrophic burst in the global bubble in human capital. Full Story
You may recall one of our subscribers’ recent views in the article, “A Crazy Man’s Rant – Or Right On.” We would like to share his current opinions with you: "I had been genuinely enjoying the run up of gold, silver and my mining stocks the last while. I kept wondering when the correction would occur and now that it has I would like to again share my views..." Full Story
By: Bill Bonner, Joel Bowman, & The Mogambo Guru, The Daily Reckoning - 20 February, 2006
-Taking advantage of the lull in the market to check on our Big Es... -The West pays for world order - and the East steps up the exodus of power and money in its direction... -Debt can't rise faster than incomes forever...gold will save you...and more! Full Story
By: Sol Palha, Tactical Investor - 20 February, 2006
When you take a position and people look at you with disdain or shock, you know you are doing the right thing. When they pat you on the back it's time to flee for the exits. The buy low sell high principle in reality is total humbug because one can never predict the exact low or the precise top. What one can do is buy when a market is bottoming and with luck it might actually end up being the low and conversely start to sell when a market is topping and with luck you might actually sell at the high. Trying to predict the exact high or bottom is a stupid and futile endeavour. Full Story
By: Rick Ackerman, Rick's Picks - 20 February, 2006
Like so many of you, I like to hold a few put options in inventory each month “just in case.” You never know. Suppose investors were to awaken one morning troubled by doubts about the health of the economy? I’m not suggesting that such a thing is likely to happen, mind you, only that we should take the odds if they’re juicy enough. Well, we’ve actually taken odds that were plenty juicy in each of the last three expiration periods, only to see our put options waste away to nothing. Full Story
This piece was written several days ago and although it appears gold is working its way through this correction and consolidation rapidly; we’re going to post it anyway with the idea that perhaps there are some long term benefits to be gained by doing so. First and foremost is the idea that we are going to have more corrections along the golden path and it behooves us to learn from past lessons and not follow the other lemmings over the cliff. Keep your eye on the primary trend in gold, and whether or not there is any political will to reign in the spending and or slow down the printing presses. Full Story
By: John Mauldin, Millenium Wave Advisors - 19 February, 2006
One of the positive things about international travel is that it gives me a large amount of time to read and think. This week we are going to look at some of that reading on the current issues surrounding the apparent willingness of investors to court ever increasing amounts of risk in the face of not only US central bank tightening but tightening by central banks everywhere, which has historically not been a bullish environment. I trust it will stimulate your own thinking. Full Story
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