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Weekly Archive
By: Bill Bonner & The Daily Reckoning Crew - 2 March, 2007
-The Big Bubble Battle…Greenspan backtracks…wanna work for Buffett?
-If the going gets rough, take a vacation…learning to fish in the next depression…
-Nobody trespasses like the French…the 'Great Wall'…and more! Full Story |
By: Adrian Ash - 2 March, 2007
Now the air's gushing out of the subprime market, there's only way Bernanke can plug his finger in the hole and stem the defaults. Just like he said back in 2002, cheap money dropped out of a helicopter can fix pretty much any problem in the financial economy – short-term at least. Full Story |
By: Peter Schiff, Euro Pacific Capital, Inc. - 2 March, 2007
With the recent sharp decline in the stock market, the timing of the official release of my new book “Crash Proof” this Monday could not have been better. Ironically the media and Wall Street are assuring investors that the fundamentals have not change and that all is well. Of course what these market cheerleaders do not understand is that the fundamentals are just as lousy now as they have always been. In fact, they are about to get a whole lot worse! Full Story |
By: Deepcaster - 2 March, 2007
Regular readers of Deepcaster’s Letters and Alerts are familiar with our view that several key Official U.S. Government Statistics (e.g. CPI and GDP) are dramatically inaccurate (“Juiced Numbers” we call them) and that Major Markets, including Gold, Silver, Crude Oil and many of the Strategic Commodities are manipulated by The Cartel of Central Bankers. Full Story |
By: Steven Saville, Speculative Investor - 2 March, 2007
The "it's different this time" argument will routinely be dragged out in the latter stages of a long-term bull market to justify valuations that simply can't be justified by traditional methods. In the end, however, valuations always revert to their long-term average. In fact, once valuations reach a major peak and reverse course they invariably keep shrinking until they have moved well below their long-term average, at which point a new version of the "it's different this time" argument will typically surface to explain why valuations are doomed to remain low. As a result, investors who buy into the idea that "this time it's different" tend to end up in the poor house. Full Story |
By: Brady Willett & Todd Alway - 2 March, 2007
Late Tuesday afternoon, Dow Jones Indexes made a seemingly minor confession about a technical glitch that took place earlier that day. Specifically, in the middle of Tuesday’s market decline – beginning at 1:50 pm precisely – Dow Jones Indexes began incorrectly reporting the Dow Jones Industrial Average (Dow). In other words, instead of displaying say 12,200 - the actual trading level of the 30-Dow components - the Dow was showing 12,350. Ever vigilant, they eventually identified the problem and “switched over to a back-up system” at 3:00PM. Full Story |
By: Rick Ackerman, Rick's Picks - 2 March, 2007
If the week ends with yet one more timid rally, bulls will be under serious pressure to deliver on Monday. Yesterday, it almost looked as though Da Boyz had shorts on the ropes when the Dow Industrials halved a 200-point opening loss in mere minutes. Alas, the remainder of the day was spent in a wallow, and by the final bell the Indoos had not exceeded a single peak recorded the previous day, even on the lowly 5-minute bar chart. In the meantime, the lower lows occurring each day are adding power to a bearish impulse leg whose demeanor ultimately will determine whether the long-term bull is dead or merely pausing for breath. Full Story |
By: Dan Denning & The Daily Reckoning Crew - 1 March, 2007
-Looking under seat cushions and selling stuff on eBay…pulling the plug on a tub of liquidity…
-Borrowing is easy; paying back is another story…back to the real world…
-A day in the life - now gone…Caesar was quite a guy…and more! Full Story |
By: Emanuel Balarie - 1 March, 2007
In the aftermath of this massive stock market decline, there were pundits galore that expressed their opinions on why the market saw such a move down. Some blamed it on a system failure ( ala CNBC’s Jim Cramer) others bemoaned the Chinese stock market that supposedly triggered this decline, and another still blamed this sell-off on Alan Greenspan’s use of the “r” word…recession. Perhaps the most mind-boggling blame was placed on Matt Drudge of the Drudge Report. I guess Drudge was responsible for simply reporting the news. Full Story |
By: David N. Vaughn, Gold Letter, Inc. - 1 March, 2007
As spring marches forward so too does the price of gold. Funny how they seem to work in unison. A higher price for gold seems to follow the new blooms. A strong wind actually serves two purposes. It brings spring in that much sooner and it works to drive the gold price to new highs. Full Story |
By: Rick Ackerman, Rick's Picks - 1 March, 2007
Yesterday’s meek rebound was not the kind of rally to inspire confidence. Even so, we’re inclined to give the bull the benefit of the doubt until such time as the big-picture bearishness of Tuesday’s avalanche are corroborated by certain other technical signs mentioned here yesterday. What inspired my commentary was a chart of homebuilder DHI Horton that welled up in my craw like a bilious burp: Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 28 February, 2007
-Our Crash Alert flag isn't looking so silly now…a pin flirts with pricking the Chinese bubble…the Ghost of '29…
-The defense rests…the millwheel of a correction grinds away…
-A strange and sad story…trying to blow up the VP…and more! Full Story |
By: Bob Chapman, The International Forecaster - 28 February, 2007
If gold continues upward people and investors would finally get the message that we have financial and economic problems. One thing we do know is that China and Russia are gold buyers. Every time the elitists push oil prices down Russia buys gold forcing the conspiracy’s hand to ease off on oil or we’ll send gold higher. These two very strong buyers we believe have gone head to head with the cartel and what a great way to dump dollars. In addition to that Barrick has been forced to throw in the towel and is liquidating its hedges or better covering its shorts and taking terrible losses in the process. Big things are happening and you have to be in the game if you want to win. Full Story |
By: Adrian Ash - 28 February, 2007
Time was, high risk borrowers had to pay high rates of return to attract cash from lenders. That time will return in due course. For now, however, the search for alpha amongst European fund managers is puffing a little more air into the global credit bubble each day. Full Story |
By: Doug Casey & Chris Gilpin - 28 February, 2007
For more than twenty years, Australia—with its rich uranium resources—has been largely closed for yellowcake mining. But now the country may be preparing to open its doors to junior uranium explorers and producers, which, in view of the Cigar Lake breakdown, would be a major step to ramping up production in the foreseeable future—and could provide some excellent investment opportunities. Below, senior researcher Chris Gilpin breaks down some key developments expected Down Under during the coming months… Full Story |
By: Richard Daughty, The MOGAMBO GURU - 28 February, 2007
Total Fed Credit, the magical fairy-dust stuff of which money is instantly made when it is borrowed from a bank, bumped up last week by $4.5 billion, taking us to $851.7 billion. That comes out to about $8,517 for every non-government worker, like me, in the country! Full Story |
By: Ned W. Schmidt, CFA,CEBS - 28 February, 2007
Are U.S. paper equity markets facing the beginning of end? Tuesday's break below 118 confirms the view that Japanese yen has turned, meaning last chapter for carry trade has started. Collapse of Chinese markets caused risk management systems sirens to wail. Reducing risk became Tuesday's goal, and selling hit all markets. Full Story |
By: Puru Saxena - 28 February, 2007
So, you can see that our world faces an imminent energy crisis which may cause an escalation of resource wars over the coming years. Normally, I do not like to make bold forecasts but I can say with confidence that the era of cheap oil is over. Moreover, I also suspect that things will get a lot worse on the geo-political front before we return to a period of world-peace. Full Story |
By: Michael Nystrom - 28 February, 2007
At it's worst level, the Dow was down today over 540 points in a global selling spree that started overnight in China. By the end of the day, it had recovered somewhat, but still closed down over 400 points. The real story was the volume: 2.3 million advancing shares advanced, versus 2.3 billion decliners in what could be the most lopsided selling day in history! In other words, 99% of today's share volume was down! Full Story |
By: Rick Ackerman, Rick's Picks - 28 February, 2007
We broke ranks with the permabears decisively last summer, when the Dow Industrials were trading nearly two thousand points beneath a 13045 target I projected at that time. Ever since, and until yesterday, it had been more than just a little satisfying to watch the Indoos climb relentlessly higher, even as I continued to tell you that the stock market stank to high heaven. I simply pinched my nose and closed my eyes, advised my subscribers to do the same, and up, up, up we went. Full Story |
By: Neal R. Ryan - 27 February, 2007
The dollar is cracking. The end of the easy money via the yen carry trade, which we forecast a few weeks ago, seems to be taking place. It is decimating the Chinese stock market and now is taking its toll on the U.S. stock market. For a few reasons this is all very good for precious metals investors, though it might not seem that way right now, since everything is out in the yard like a garage sale. Full Story |
By: Theodore Butler - 27 February, 2007
This is another fascinating time in the gold and silver markets. It’s not just that we have experienced a rapid short term run up to significant high-water marks, rewarding all long-term investors, but also that price volatility, both up and down, promises to stick around for a spell. The current market structure just about guarantees price volatility dead ahead. That might sound like an analyst talking out of both sides of his mouth, predicting that the price could go up or down, but sometimes the short term picture does get uncertain as to price direction. Full Story |
By: Adrian Ash & The Daily Reckoning Crew - 27 February, 2007
-Mortgage companies are like snowmen in the desert…our Law of Stupidity…
-Nobody said fiscal responsibility would be 'sexy'…could the next head of the Bank of China be Chinese?
-A dependence on change…a tiring, decision-laden vacation…and more! Full Story |
By: Brady Willett - 27 February, 2007
Although subprime blowup fears continue to make for enthralling reading, the financial markets have yet to be seriously impacted. Rather, while some repositioning away from financial stocks and into utilities is suggestive of a developing defensive trend in the marketplace, this theme has yet to really get running. For that matter, the tightness in subprime is showing little evidence of spawning widespread restrictive credit practices. Full Story |
By: Dudley Baker - 27 February, 2007
Last week was a very interesting one here in Ajijic, Mexico, land of tacos, tortillas and tequila. We had representatives of a private European bank here visiting current clients, making a presentation of their organization and recruiting new clients/investors for their bank. Full Story |
By: David Bond - 27 February, 2007
A protest against him staged by environmental pressure groups outside of a Washington, D.C. theatre (where National Geographic magazine proposed to show his film), a comparison by Greenpeace of him to Nazi propagandists, and two death threats beneath his belt, Irish-born Phelim McAleer tells us his movie, “Mine Your Own Business” might have struck a chord. Full Story |
By: Rick Ackerman, Rick's Picks - 27 February, 2007
Investors spent Monday walking on eggshells. Do they perhaps think that by acting so meekly they’ll be able to avoid confronting all of the important economic data due out this week? We’ll be better able to judge for ourselves this morning, when figures for existing home sales in January are released. The consensus expects a very mild rise of 0.3%, which is likely to cheer no one. But who knows? Perhaps if the number is awful enough it will stimulate the endorphins of the many who, one surmises, have been praying for Fed stimulus? Full Story |
By: The Mogambo Guru & The Daily Reckoning Crew - 26 February, 2007
-Macro analytical friends who hate gold…seeking shelter from collapse…
-When reaction turns to overreaction…a helping hand…
-An accidental interview…not all gringos are greedy slime balls - just mindless obsequious sycophants…and more! Full Story |
By: radio.goldseek.com - 26 February, 2007
1st Hour:
* Market report, Spotlight Pick with 5 stocks and the Scam Alert.
* Bob Chapman and Chris Waltzek tackle listeners' questions and discuss the latest market headlines.
2nd Hour:
* Sara Nunnally, from WaveStrength and lead author of Material Profits.
* John Perkins, author and editor of Confessions of an Economic Hit Man. This weeks show features Part1 of his presentation. Full Story |
By: David Coffin and Eric Coffin - 26 February, 2007
2006 was a great year for metals though very few things (except uranium) went straight up. Most commodities had larger price swings than the year on year numbers (impressive though they are) indicate. We don’t expect a repeat of that scenario for most metals in 2007. Price movements should be more muted than last year, and more individual, based on how balanced each metal’s supply-demand picture is. Full Story |
By: Nadeem Walayat - 25 February, 2007
The UK housing market has proved remarkably resilient by notching up a further gain for January of 1.3% (Halifax) , whilst the US Housing market continues to go from bad to worse as the sub prime mortgages time bomb goes off, resulting in a slump that looks set to be the worst since the Great Depression of the 1930's. Full Story |
By: Bob Chapman, The International Forecaster - 25 February, 2007
Some in the gold camp believe that the next leg of the gold price will likely say more about the under-pricing of risk than the traditional drivers of gold such as inflation, deflation or geopolitical events. Gold is rising against economically sensitive commodities that signify that a general reappraisal of risk is underway. Full Story |
By: John Mauldin, Millenium Wave Advisors - 25 February, 2007
What are the odds of a recession? According to a recent Fed study, they may be 51.9%. Close enough to 50-50 for government work. We analyze this study, look at a few graphs which show a major disconnect between the housing market and the US manufacturing and services sectors, and then close with some comments on yet another proposed rule change. But let's start with a few housekeeping items. Full Story |
By: Rick Ackerman, Rick's Picks - 25 February, 2007
When a deflationary collapse finally comes, we shouldn't expect it to bring a flood of money-making opportunities, since it will not be the dot-com boom in reverse. There will be no instant billionaires unloading insider shares for 10,000 times what they paid for them. Students just out of college will not be jettisoning $60,000 jobs for a shot at "real" money. Full Story |
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