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Mike 'Mish' Shedlock

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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.

Mish Talk - The no-checkout process starts Monday. Here’s the concept: Go into a store. Pick up stuff. Walk out. After a year of delays, Amazon’s Cashierless ‘Go’ Convenience Store Set to Open. Nearly a year after it was promised, Amazon.com Inc.’s cashierless convenience store is slated to open to the public on Monday. The new Amazon Go […]

Mish Talk - The main crypto plays did not move much today but there were some huge percentage winners and losers elsewhere. I am not going to bother looking up any of today’s winners up even though I have never heard of any of them. Today’s winning numbers are 1288, 587, 1553, 1275, 1305, 1056, and 732. The […]

Mish Talk - To make up for a loss of future revenue attributed to Trump, N.Y. Gov. Andrew Cuomo proposes a cornucopia of new taxes. New York Governor Andrew Cuomo proposes a $168 billion spending plan to Defend New York Against Trump’s ‘Economic Missile’. Gov. Andrew M. Cuomo on Tuesday unveiled a $168 billion spending plan that he […]

Mish Talk - The major cryptocurrencies were down earlier today but have since bounced. Like yesterday, there are some huge winners. Another Dead Cat Bounce? The cryptocurrency overall bloodbath reversed a bit today. Nineteen of the top twenty cryptocurrencies as compiled by Investing.Com were in the red as I started this post(shown below). In the time it took […]

Mish Talk - The major cryptocurrencies took a huge hit today, but there were some spectacular success stories as well. Paragon it’s pretty clear from the symbol the crypto is related to marijuana in some fashion. Paragon is a rental company that claims to “Bring blockchain technology to the world of cannabis.” Our Paragon Spaces sit at the […]

Mish Talk - The CA Supreme Court will rule on pension cuts. Curiously, the court’s ruling will be irrelevant in case of bankruptcy. Please consider California’s Brown Raises Prospect Of Pension Cuts In Downturn. California Governor Jerry Brown said legal rulings may clear the way for making cuts to public pension benefits, which would go against long-standing assumptions […]

Mish Talk - Ford says it will spend $11 billion producing electric vehicles by 2022. One dubbed the “Mach 1” will be ready in 2020. Ford is doubling down on electric vehicles as noted by an announcement of an All-Electric ‘Mach 1’ SUV coming in 2020. In an announcement at the North American International Auto Show on Detroit, […]

Mish Talk - Amazon is taking the lead in online orders and delivery in India, but it struggles to compete with Alibaba in China. Jeff Bezos’s message to Amazon executives has been clear: Do whatever it takes and don’t worry about the cost. The Seattle-based giant has invested billions of dollars to woo consumers in India, China and […]

Mish Talk - The BLS says the CPI rose 2.1% in December from a year ago. Food rose 1.6%. I called the BLS and filled in some numbers. In CPI Up 0.1 Percent: How Much is the CPI Understated? I disputed the BLS’s year-over-year overall inflation figure of 2.1%, specifically citing housing and the cost of health insurance. I found […]

Mish Talk - Mining digital currencies requires so much electrical power that it has stressed the capacity of one Washington county CNBC reports Cryptocurrency Mining Puts Electrical Grid of Small Washington State County ‘to the Test’. “Our infrastructure is actually being put to the test. We’re full,” Ron Cridlebaugh, the Port of Douglas County economic development manager, told […]

January 11th, 2018 | Is US Economy Struggling?

HoweStreet.com Radio - Robots looming to take low tech, low pay jobs

Mish Talk - Bitcoin is scarce. Right? That was the driving force behind another collectible that I recall. TNABC Refuses Bitcoin Let’s compare the scarcity of Bitcoins to the scarcity of Beanie Babies. First, please note that it costs so much and takes so long to process bitcoin transactions, that the The North American Bitcoin Conference Stops Accepting […]

Mish Talk - Vitaliy Katsenelson emailed an article about the Bitcoin bubble. Let’s compare to the “Something Else Entirely” belief. Bitcoin – Millennials Fake Gold by Vitaliy Katsenelson Originally posted on the Contrarian Edge.  I’ve been asked about Bitcoin a lot lately. I’ haven’t written anything about it because I find myself in an uncomfortable place in agreeing […]

Mish Talk - With the stock market on a record tear, investors increasingly view hedges as a money-losing operation. With volatility at consistently low levels, more investors are revising their strategies on risk. Apparently these is no downside risk anymore as Investors Abandon Hedges. ​ After a long stretch of stock market tranquility, more investors are concluding that […]

Mish Talk - A record high number of Americans support legalizing marijuana in two recent polls by Gallup and PEW. In response to Jeff Sessions Foolishly Targets Pot: 3 Reasons Measure Can’t Work, one reader mocked a reference to a poll showing 64% approval for legalization. The poll is very believable. In fact, there are two such polls, […]

Mish Talk - Business activity growth softened to a 7-month low in Dec. according to Markit. ISM expansion was less than expected. The Institute for Supply Management reported the ISM Non-Manufacturing Index at a solid 55.9. Economists, expected a rise of 0.2 percentage points to robust 57.6.​ Markit Services PMI Unlike the ISM, Markit provides much more commentary […]

Mish Talk - Construction spending rose more than expected in November. Revisions add to the gains. Here are some highlights from the Census Bureau’s Monthly Construction Spending Report for November 2017. Total Construction Construction spending during November 2017 was estimated at a seasonally adjusted annual rate of $1,257.0 billion, 0.8 percent above the revised October estimate of $1,247.1 billion. The […]

Mish Talk - Wilshire Consulting predicts 6.25% return on US Equities over a decade. Hussman and GMO predict negative returns. Wilshire Consulting’s time horizon is 10 years, GMO’s is 7 years, and Hussman’s is 12 years. The Feature image is from GMO’s Third-Quarter Report as of 10/31/2017. The report, which I highly recommend reading states “*The chart represents […]

January 1st, 2018 | No Financial Stress

Mish Talk - As we head into 2018, the St. Loius Fed reports there is no financial stress. The STLFSI measures the degree of financial stress in the markets and is constructed from 18 weekly data series: seven interest rate series, six yield spreads and five other indicators. Each of these variables captures some aspect of financial stress. Accordingly, as […]

Mish Talk - Of major nations, only Japan, Greece, Italy, and Portugal have debt-to-GDP ratios higher than the US. With the new tax overhaul, U.S. government debt will rise by one to two trillion dollars over the next decade. I view that assessment as majorly optimistic as it assumes no recession and unlikely growth. Citing IMF statistics, the […]

Mish Talk - McClellan Financial says an eight-year cycle for gold is about to start and the next five years will likely be good ones Via email from Tom McClellan, please consider Gold’s 8-Year Cycle. We are now entering the upward phase of gold’s 8-year cycle, and that should bring some fun gains. And this comes at a […]

Mish Talk - South Korea seeks to curb widespread speculation fueling cryptocurrencies. It even considers shutting down the exchanges The Wall Street Journal reports South Korea Considers Shuttering Bitcoin Exchanges. New Proposals New proposed legislation in Korea will ban the use of anonymous cryptocurrency accounts starting next month and prevent banks from providing settlement services for unidentified digital-currency […]

Mish Talk - The Fraser Institute ranks countries based on economic freedom. In 2010, the US fell out of the top 10. It’s now 11. The Economic Freedom report is copublished by the Cato Institute, the Fraser Institute in Canada and more than 70 think tanks around the world. An interactive map hows a changing timeline from 1975 […]

Mish Talk - Electric vehicles are lighter and have fewer moving parts than conventional cars. The shift is not just about batteries. Electric vehicles are the wave of the future even if battery technology is not where it needs to be at present. While Elon Musk and the car makers have a spotlight on batteries, what about other […]

Mish Talk - If bitcoin’s price plunges 70%, it is only back to its 200-day moving average near $4,473. The latest wisdom of the day from true believer Naeem Aslam is Ignore a 20% to 30% drop in bitcoin because the longer trend is up If you dive into the article Aslam states “If the price drops by 70% […]
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