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September 20, 2020 | Covid-19, Unmasked

There was not a mask in sight Saturday afternoon on the Ocean City NJ boardwalk even though it was packed with strollers, including your editor. Although it’s not possible to tell from the picture which are political liberals and which are conservatives, it’s probably safe to say that voters of both persuasions were well represented […]

September 20, 2020 | The Homewrecker

Three more sleeps until Justin Trudeau has his way with us. Wednesday’s Throne Speech comes as the virus flares again in Ontario, BC and Quebec, as anti-mask Wexiters rev their pickups through the streets of Calgary, as Trump prepares to pack the Supreme Court in case that election blows up, as the economy starts going […]

September 20, 2020 | Stall Speed Economy

When Cornwallis surrendered to George Washington at Yorktown in 1781, tradition has it that the British band played an old English children’s folk tune, “The World Turned Upside Down.” Painting by John Trumbull If buttercups buzz’d after the bee, If boats were on land, churches on sea, If ponies rode men and if grass ate […]

September 20, 2020 | Good News For A Change: Vertical Farm Edition

So this year sucks and next year might be even worse.  Buy gold and short tech stocks.  With that out of the way, let’s spend some time in the unfamiliar territory of things that are actually going right, with something called “vertical farming.” Here, very generally, is how it works: Go to, say, downtown Detroit […]

September 19, 2020 | This Week in Money

September 19, 2020 | Trading Desk Notes September 19, 2020

Massive stimulus from governments and Central Banks created a powerful “risk on” market psychology that drove equities and commodities higher and the USD lower over the past few months. We think this “risk on” market psychology in the process of reversing and we’ve been trading accordingly. Mega cap tech had a spectacular run in this “risk […]

September 18, 2020 | America Can Expect More COVID-19 Stimulus Money

SAN MARTIN, ARGENTINA – First, we check in on the economy… Here’s CNBC: Yelp on Wednesday released its latest Economic Impact Report, revealing business closures across the U.S. are increasing as a result of the coronavirus pandemic’s economic toll. As of Aug. 31, 163,735 businesses have indicated on Yelp that they have closed. That’s down […]

September 18, 2020 | Zombies Must Go Now

The number of zombie companies is increasing exponentially. As Japan learned in the 1990s, a predominance of companies that cannot pay their debts is bad for the economy. Central bankers kept interest rates unusually low, helping firms stay alive that would have failed even before this recession. Zombies are a negative force for future growth […]

September 18, 2020 | Oil Demand Disappoints Bulls

Oil offers further proof that, at the zero-rate bound, monetary policy is pushing on a string, unable to increase consumption. In reports released last week, both the International Energy Agency (IEA) and the Organization of the Petroleum Exporting Countries (OPEC) cut their global demand outlook by 9.5 million barrels a day from 2019 levels, driven […]

September 18, 2020 | Giving It Up

Hmmm. There’s something happening here. What it is, ain’t exactly clear. Covid has done a number on politicians’ heads. The first global pandemic in a century spawned states of emergency across the country, shuttered legislatures, hobbled the federal Parliament, caused a suspension of many civil liberties, hardened borders, afforded new powers to premiers and mayors […]

September 17, 2020 | The Fed Sounds the Starting Gun for Gold

Did you see the announcement from the Federal Reserve’s Open Market Committee (FOMC) yesterday? Basically, Fed Chair Jerome Powell and his cohorts stabbed daggers through the idea of raising rates anytime soon. This has all sorts of implications. But one thing it does is sound the starting gun for is gold’s next run higher. That’s […]

September 17, 2020 | Believe It Or Not, 2021 Is Looking Worse Than 2020

This year is, by any measure, brutal. First came a pandemic so baffling that virtually no one other than Sweden made it through without a near-depression. (Reminiscent of the previous decade’s financial crisis, when only Iceland got it right.) Then came civil unrest on a scale not seen since the 1960s, about which more than enough has […]

September 17, 2020 | Dollar and Treasuries Call Federal Reserve Bluff

Yesterday the US Fed offered its next iteration of low policy rates for longer, and longer, and longer with a promise that it would not hike for (at least) another three years in its effort to manufacture price inflation above 2%. The truth is, as we’ve already seen in places like Japan and Europe, keeping […]

September 17, 2020 | Unloved

Among its victims, Covid has big-city condos on life support. This has cleaved the real estate market in two. Houses with dirt, in the suburbs or even the sticks, are objects of desire, FOMO and bulbous prices. Concrete boxes in the heart of urbanity are emptying, devaluing and shedding equity. Rentals are piling up. Leases […]

September 17, 2020 | Corruption is Neither Left nor Right

QUESTION: The supporters of the left side and of the state/public sector always mention that the private sector is the one that suffers as in general (ex. 2008/2009 AIG case) the public always comes at the end as a fire brigade to save the world. How would we answer technically to all these people? Thank […]

September 17, 2020 | Has Gold Rally Run out of Steam?

Any sectors that still have a positive outlook?

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September 17, 2020 | Canadian Politicians – Pawns of the Petrochemical Industry?

  • Sheryl McCumsey – How to protect yourself from government ignored toxins

September 17, 2020 | Are Fraud and Deceit Now Common Business Practices?

Are low interest rates likely to help recovery?

September 16, 2020 | Canada More Lockdowns?

There are rumors now running around that more lockdowns are coming in Canada. I cannot verify that this is correct, but this twitter that is going viral does put it correctly, this is now becoming the people v the establishment which seems to be controlled by the Oligarchs. We will see if Canada goes in […]

September 16, 2020 | Dollar Flexes Its Pinky, Stocks Fall

  As observed here earlier, nearly everything has begun moving in lockstep opposite the dollar. Today, the effect of a modest bullish upturn in the dollar was both precipitous and precise. A strong dollar is the worst nightmare not only of the thimble-riggers at the Federal Reserve, but of everyone who owes dollars. That includes […]

September 16, 2020 | Rosenberg: We Have Yet to See COVID’s Real Impact

Many lucid thoughts in this segment… David Rosenberg, chief economist at Rosenberg Research, speaks with Financial Post’s Larysa Harapyn about GDP forecasts and what we should expect from the Canadian economy, especially if there are more outbreaks of COVID-19. Here is a direct video link.

September 16, 2020 | Into the Smoke

Kicked off some major media web sites for being such a tool, he landed here. Over the next four or five years Smoking Man dropped thousands of comments on this blog. At least half of them were obscene, libelous, incendiary or unintelligible. Especially the drunken, overnight ones. SM became the most Deleted person in blog […]

September 16, 2020 | Is a Secret New Carbon Tax Looming?

  • Kris Sims –  Is a wave of elections about to sweep Canada, including BC?

September 16, 2020 | Heavy Debt Loads to Hamper Future Growth

Even the richest sports leagues hurt by recession

September 15, 2020 | West Coast in Flames – Part of the Strategy to Impact the Elections & Great Reset?

  Michael Jarrod Bakkela, 41, was charged with two counts of arson and additional crimes for allegedly setting a fire earlier this week in southern Oregon, while the region was already beset with the Almeda Fire. It appears from our cyclical models that this fire was deliberately set to further this Great Reset. Like the COVID-19 […]

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