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February 25, 2024 | IRS Told to Prepare to Shoot US Citizens

BREAKING: IRS official Alex Mena who works in “Criminal Investigations” says @IRSNews, ‘has no problem going after the small people, putting people in prison, and destroying people’s lives.’ Mena ‘doubts the constitutionality’ of his employer, the IRS, using AI to access… pic.twitter.com/KexsoTlMbz — James O’Keefe (@JamesOKeefeIII) February 21, 2024 The Internal Revenue Service is a […]

February 25, 2024 | The Fallacy of the Wall of Worry

So much for the wall of worry!  Optimists and visionaries supposedly climb it while ignoring troublesome signs that leave most investors on the sidelines, paralyzed with fear. Last week, as soaring shares of Nvidia tugged stocks higher around the world, speculators swarmed the wall like cockroaches gorging themselves on dried beer, glue and animal feces. […]

February 24, 2024 | Trading Desk Notes For February 24, 2024

The most important stock in the world NVDA market cap soared >$300 Billion on Thursday (day session and aftermarket) to >$2 Trillion. This was the largest ever one-day market cap gain by an individual stock. The increase was equivalent to over TWICE the market cap of RBC, the largest stock on the TSE.   The rally […]

February 24, 2024 | Russia is Getting Stronger – Not Weaker

  Russian President Vladimir Putin unveiled the new strategic long-range Tu-160M nuclear-capable bomber on Thursday, in a move likely to be seen in the West as a pointed reminder of Moscow’s nuclear capabilities. This is a new giant swing-wing type plane, where the pilots posted on the side “MY POMPEII,” referring to the destruction of […]

February 24, 2024 | China Exporting Deflation To The World

Consumer prices in the world’s second-largest economy fell 0.8% in January compared with a year earlier–the most significant deflation in over a decade.   With demand weak at home and inventories piling up, Chinese producers have the incentive to dump excess goods onto world markets, and they are. Chinese export prices have dropped steadily since […]

February 24, 2024 | Tech Talk for Saturday February 24th 2024

The Bottom Line Nvidia was the pleasant surprise last week: Its strength following release of “blow out” quarterly results powered the S&P 500 Index and Dow Jones Industrial Average to all-time highs. Nvidia extended its parabolic upside move following release of results on Wednesday.

February 23, 2024 | China Could Be The World Leader in Nuclear Power by 2030

China is growing its nuclear power generation capacity. Already the world leader in solar and wind, China threatens to take the lead in one of the most talked-about clean energy formats, nuclear power. Will China pass the U.S. and France in generating electricity from nuclear fission? China has announced aggressive targets for nuclear power generation […]

February 23, 2024 | Strategic Relocation, Part 3: Whales Fleeing Weaponized Courts

In January, a Delaware judge forbade Tesla from paying its CEO, Elon Musk, an amount to which the board and shareholders had previously agreed. Musk responded by moving the corporate registration of SpaceX from Delaware to Texas and threatening to do the same with Tesla. “Never incorporate your company in the state of Delaware,” Musk posted on X following […]

February 23, 2024 | Mortgage Renewals Driving Shelter Inflation and Slower Economy

As I have been pointing out…years of easy money and housing speculation have left Canada’s economy between a rock and a hard place. Shelter costs (28% of Canadian CPI) are inflating as mortgages come up for renewal month after month. Households are cutting spending significantly in response. The result is stubborn shelter inflation and slowing […]

February 22, 2024 | 70% of American Cities in Debt – Pension Crisis will Cause Taxes to RISE

A study by Truth in Accounting (TIA) revealed that 70% of America’s largest cities fell into a deficit in fiscal year 2022. Out of the 75 cities studied, 53 simply did not have the funds to pay their bills. The study found that the total debt among the 75 cities had reached $288 billion, and despite the […]

February 22, 2024 | Locked and Loaded

We have now reached the point in silver (and gold) where it is difficult for me to see how prices don’t quickly explode. Everything I look at, from a physical supply/demand perspective to the paper positioning set up on the COMEX, tells me we are at the point where only an upward price surge makes […]

February 22, 2024 | Commercial Real Estate Stress is Spreading

In 2023, the national office space vacancy rate reached 19.6%, above the 19.3% historic peak in 1991. The overcapacity, over-valuation and debt write-downs needed in commercial real estate are themes that will persist for some time. No quick fix. Federal regulators in recent weeks have signaled concerns about commercial real estate, a financial sector that […]

February 21, 2024 | Inflation Retreating But Shelter Remains The Problem

Canada’s January Consumer Price Index (CPI) report came in softer than expected at an annualized rate of 2.9%, down from 3.4% in December and 8.1% from the cycle peak in June 2022. This brings the CPI within the Bank of Canada’s 1% to 3% target range for the first time since June 2023. The share […]

February 21, 2024 | Weak US Demand and Rising Commercial Stocks Likely To Cause Near Term Term Correction in WTI Price

GLOBAL ECONOMIC, POLITICAL & MILITARY UPDATE Mixed economic data in the US, with some indicators like manufacturing weakening are being offset by rising inflation after many months of declines. The Fed meeting notes out this week (from the last FOMC meeting) noted that they are concerned about lowering rates too quickly due to persistent price […]

February 21, 2024 | Mortgage Rates Rise Back to 7%, Housing Market Re-Freezes, Buyers’ Strike Continues. Prices Are Just Too High

The average conforming 30-year fixed mortgage rate rose to 7.0% in the latest week, according to the Mortgage Bankers Association today. The daily measure by Mortgage News Daily has been over 7% for days. These are the highest rates since mid-December, when they were on their way down. Mortgage rates had been flirting with 8% […]

February 21, 2024 | Inflation Dropped in Canada – So Why is the Cost of Living Unaffordable?

  Statistics Canada reported that inflation slowed in January to 2.9%, beating expectations of 3.3%. So why are Canadians still struggling to afford basic necessities like rent and food? Mortgage interest costs remain the top noted driver of inflation after rising 27.4% YoY, while rentals increased 7.9% during the same period. Bank of Canada governor […]

February 21, 2024 | Inequality In 9 Charts And One Amusing Image

Graphs and charts showing America’s fatal case of financial inequality have become almost a separate art form: What Happens Now? Is railing against inequality just envy on the part of the less successful? Or is there a fundamental, functional reason that a society can’t be comprised of a handful of super-rich and a vast herd […]

February 20, 2024 | The Ruse of Bitcoin & Crypto

BlackRock CEO & World Economic Forum Trustee Board Member Larry Fink Turns Bullish on Bitcoin Larry Fink has changed his tune on crypto, saying suddenly it could “revolutionize finance,” endorsing an industry he once viewed with skepticism. Of course, as a board member of Scwab’s WEF, the crypto zealots cheered. Still, they think that Bitcoin […]

February 20, 2024 | Rosenberg: The Economy is Weaker Than The Narrative Suggests

Economist David Rosenberg, founder and president of Rosenberg Research, shares his macroeconomic view of the economy and explains why he’s not throwing in the towel on his recession call. Here is a direct video link. 

February 19, 2024 | US Govt Targets Private Enterprise – Eminent Domain – Private Property and Patents at Risk

A recent measure from the Biden Administration touted as a solution to lower prescription drug costs has a more sinister motive. The Bayh–Dole Act or Patent and Trademark Law Amendments Act of 1980 permitted researchers to own the patents of their products developed through government funds. The legislation permitted “march-in” rights that enabled these agencies […]

February 19, 2024 | Grantham: Pollution, Population & Purpose

Thought-provoking, far-reaching discussion about things that matter in this segment. Worth a listen. On this episode, Nate is joined by co-founder of GMO Financial Holdings, Jeremy Grantham, to discuss how finance, human population, ecology, and pollution interact to shape current trends and what they could tell us about the future. Mr. Grantham unpacks why the […]

February 19, 2024 | No Reply

There has been no reply from the CFTC for 13 weeks to a question I posed through my congressman’s office about double-counting of silver inventories. However, two days ago my congressman’s office told me that the agency intends to respond although the office couldn’t say when. As a result, I still expect a response, although […]

February 18, 2024 | Harder To Get Insurance is a Game Changer

In the US inflation estimate for January, auto insurance premiums rose 20.6% year over year, while tenant and household insurance rose 6% annualized over just the last three months. Across the developed world, insurers are exiting some areas and demanding higher premiums and deductibles in others; affordable insurance — often a condition of mortgage and vehicle debt […]

February 18, 2024 | Choose Your Own Economy

If you’re a parent or grandparent, you may know of the “Choose Your Own Adventure” storybook series. Written in second person, they make “you” the hero. The reader makes choices as the story unfolds, leading to one of several possible endings. That format is disturbingly similar to a lot of economic forecasting. The economist—who of […]

February 18, 2024 | The Coming Crash of Bigness

[Globalism has peaked, says my colleague James Howard Kunstler, and with it a trend toward corporate bigness that has all but extinguished quality and vitality from the marketplace.  Bloated corporatism is about to come crashing down, he says, in a process of creative destruction that will allow us to rescale the economy so that it better […]

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