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August 17, 2017 | Gold’s Breaks Below $1,270 – Third Time Lucky?

The last couple of years and – in particular – the last couple of months were very difficult for gold traders – i.e. they were boring. Despite several huge daily price swings, the precious metals market has not been going anywhere, moving in and around the $1,100 – $1,300 price range. Gold got to the […]

August 17, 2017 | The Secret Rally No One Is Telling You About

I sure hope you’ve read our Monday column “Shocking Forecasts for 2017-2022.” If not, be sure to do so here even before you read mine below. I say that because they’re so directly related — and so amazingly timely. Yes, stocks are rallying nicely this year. But while Wall Street’s white-shoe crowd is swooning over the Dow, there is another […]

August 16, 2017 | Subprime Auto Loans the Next Big Short

Broke buyers, desperate to move product-well-past reasonable-demand-manufacturers and dealers,  along with price indiscriminate-desperate-to-dump-capital anywhere ‘investors’ have made a big mess once again. See ‘Deep’ Subprime Car Loans hit Crisis-Era Milestone: Amid all the reflection on the 10-year anniversary of the start of the subprime loan crisis, here’s a throwback that investors could probably do without. There’s a section of the […]

August 16, 2017 | Johnny Reb Was No Terrorist

POITOU, FRANCE – St. Augustine blamed the fall of Rome on the failure of its pagan gods. Historian Edward Gibbon took the opposite view: He thought the empire had been weakened by Augustine’s god. Here at the Diary, we take no position on what brought down Rome. But we have some ideas about which gods will […]

August 16, 2017 | Milestones

The day’s news is below. First, let’s talk about what really matters to humanity. This blog. I admit it. The site was born almost a decade ago when a new book needed flogging (people used to read wads of paper covered with words). In the wake of the American housing mess, I worried we were […]

August 16, 2017 | Functional Illiterates Trying To Erase History

“True patriotism sometimes requires of men to act exactly contrary, at one period, to that which it does at another, and the motive which impels them the desire to do right is precisely the same.” ― Robert E. Lee I consider myself a student of history. I’ve always been fascinated by the personalities who drove […]

August 16, 2017 | Wall Street Banks Stunned At Trump’s Proposed Reform

  Trump’s economic consultant adviser, Gary Cohn, has declared a return to the separation system in the US banking system in effect restoring Glass-Steagall Act which dates from the 1930s and was adopted as a result of the Great Depression yet abolished in 1999 by the Clintons. Trump had already spoken during the election campaign […]

August 16, 2017 | High-Profile Sectors Start To Roll Over

Long credit cycles like the current one always end with a crash. But first they deteriorate. The headline numbers remain positive while under the surface a growing list of sectors start to falter. It’s only when the latter reach a critical mass that market psychology turns dark. How far along is this process today? Pretty […]

August 16, 2017 | India Bans Gold Exports “Without a Valid Reason”

In addition to its crackdown on cash, India stepped up its attack on gold. The aim is to cut down on gold imports. India does that in a roundabout way, by cracking down on exports. Bloomberg reports India Bans Gold Exports Above 22 Carats to Plug Trade Loopholes. India has banned the export of gold products […]

August 16, 2017 | Climate Change

In science when the theory is shown not to work, it is abandoned. When government theories don’t work, data are altered.

August 15, 2017 | Serious Credit Card Delinquencies Rise for the Third Straight Quarter: Trend Not Seen Since 2009

Every quarter, the New York Fed publishes a report on Household Debt and Credit. The report shows serious credit card delinquencies rose for the third consecutive quarter, a trend not seen since 2009. Let’s take a look at a sampling of report highlights and charts. Household Debt and Credit Developments in 2017 Q2 Aggregate household debt […]

August 15, 2017 | Will They Haul Off Trump’s Statue, Too?

POITOU, FRANCE – This week, we are talking about the perishable nature of gods. Yesterday, the city fathers of our hometown of Baltimore let it be known that it was time to toss out the old deities. Reports the Associated Press: After violence erupted in Charlottesville, Virginia over the weekend in response to the city’s plan […]

August 15, 2017 | The Big Question

  For the first time in more than four years, the average Canadian house costs less than it did the year before. Soon it will be considerably less. Even in Van and 416. But it’ll take a big drop, and a long time, for most Canadians to lose their fixation with bricks. This autumn should […]

August 15, 2017 | Under the Radar: Bankers Still in Charge in Washington

The daily spectacle of Mr. Trump is proving very effective in distracting and diverting public attention, allowing the financial cartel to continue their self-serving work of queering public policies in their favor.  To wit: The current regulatory agenda of the Securities and Exchange Commission, published in July, removed more than a dozen proposals related to […]

August 15, 2017 | Three Key Stocks Turn Higher

Three important stocks — AMZN, Boeing and AAPL — have all rebounded sharply from within a hair of targeted correction lows. How far will they get? The answer seems clearest in AAPL, which looks to be a shoe-in to reach a 168.33 Hidden Pivot target that lies $7 above current levels. It is most unlikely […]

August 15, 2017 | Government & Revolution – Is it Inevitable?

I have been warning that as governments move closer to this major event of a Sovereign Debt Crisis which begins next year with the start of the Monetary Crisis Cycle, they historically will ALWAYS, and without exception, bite the hand that has fed them. The object for government is survival of the fittest and that […]

August 15, 2017 | Don’t Bury the Buck Just Yet…

We have fortunately have been positioning for a dollar rally, and happy with what we see so far. The key question: Is this move higher in the dollar a simple correction, or is a new bull trend in play?

August 15, 2017 | Trump Haters Deface Most Historic Four Corners in America

KINGSTON, NY, 15 August 2017—Over the past two weeks, anti-Donald Trump graffiti has spreadacross Colonial Kingston, NY, defacing artifacts, landmarks and public properties where the seeds of democracy were sown. Notably, at the intersection of John and Crown streets, the only place in America where pre-Revolutionary War stone buildings still stand on each corner, graffiti has […]

August 14, 2017 | The Revolution Cycle can be just 13 to 26 Weeks

QUESTION: Mr. Armstrong; What you are saying is there is no diplomacy that would work and that the only real player here is regime change and that is in the hands of the North Korean people. So what is your advice to Trump? KE ANSWER: Forget the trying to talk reason or my arsenal is bigger than […]

August 14, 2017 | Where the Old Gods Went

POITOU, FRANCE – First, let us begin with an echo from last week… “Hey, Dad, bitcoin went over $4,000 yesterday. An all-time high. I made another $20,000. Not bad.” Pride goeth before a fall, of course. Profits go before losses. And marriage front-runs marriage counseling. We have faith in ourselves, our institutions, and our gods. […]

August 14, 2017 | Will Wall Street Keep Its Cool if Kim Nukes L.A.?

Kim Jong Un was nowhere to be found Monday night, prompting headline speculation that he was preparing to launch a new missile to celebrate a public holiday. Wall Street was unfazed as always, thumbing its nose at the threat of nuclear war with a 135-point rally in the Dow Industrials. Talk about attitude!  In fact, […]

August 14, 2017 | We are Here: Choose Your Responses Thoughtfully

Someone wrote me last week to say that because they did not have enough retirement savings amassed they had no choice but to be more aggressive in taking on more risk today. This is a common flawed conclusion promoted by the self-serving financial cartel. When investment conditions and valuations are hostile and unfavorable for future […]

August 14, 2017 | ‘Far worse’

  Someday soon we’ll be able to ignore the Toronto and Vancouver housing markets. But not yet. After all, who can stop staring at a car crash? Looks like total monthly GTA sales will come in around the 4,000 market for August. Yikes. Compare that with 6,000 in July (which was down 40% from last […]

August 14, 2017 | Consumer Spending Expectations Down Again: Dear Fed, Why Don’t You Believe Your Own Survey?

Fed Chair Janet Yellen keeps citing consumer confidence and jobs as reasons consumer spending and inflation will pick up. Curiously, the New York Fed Survey on Consumer Spending Expectations keeps trending lower and lower, despite survey-high expectations for wage growth. The report for July 2017 was released today. I downloaded the survey results and produced the […]

August 14, 2017 | Social Media Teaches Neo-Nazis — And Everyone Else — An Important Lesson

The white supremacists who descended on Charlottesville, VA last weekend seem to have forgotten why their grandpappies wore hoods on such occasions: If regular folks find out you’re crazy, they tend not to like you as much. Combine those exposed neo-Nazi faces with ubiquitous smart phones and the result is the mass-outing of hundreds of […]

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