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April 24, 2018 | Update on the Most Splendid Housing Bubbles in the US

Everything spikes. Prices of houses and condos across the US surged 6.3% from a year earlier (not seasonally-adjusted), according to the S&P CoreLogic Case-Shiller National Home Price Index for February, released this morning. The index is now 6.7% above the crazy peak of “Housing Bubble 1” in July 2006 just before the hot air hissed […]

April 24, 2018 | Cheap Attack on Responsible Canadian Resources a Black Eye for Greenpeace UK

Greenpeace UK is known for its outrageous stunts to capture media attention, but by lying about the Canadian oil sands it is not only misleading Britons – the group is harming global climate progress. This week Greenpeace UK erected a mock oil pipeline in front of London’s Canada House, claiming the oil sands would “use […]

April 24, 2018 | History: More Fake News

BARCELONA – The streets were crowded last night. On the main ramblas, so many people were strolling about that we could barely cross the intersection. Many of the women held a single red rose. It was the Day of Roses and Books – Sant Jordi’s Day – in the Catalan capital city. Women are given roses […]

April 24, 2018 | Dr. Garth

The doctor is IN. Who’s first? Hey Garth: I’m 30 and have been reading your blog since 2013, which has saved me from making too many major financial mistakes. So thanks for that.  Oh, except that I quit my job to travel for a year back in September. I’m waiting out a Kenyan rainstorm and […]

April 24, 2018 | US Federal Reserve: of the Banks, for the Banks

Few appreciate why central banks have been so committed to enabling banks and excessive debt creation.  The truth is that our financial demise is baked into their design.  See Fox in the Hen House:  Why interest rates are rising: The FOMC is composed of the Federal Reserve’s seven-member Board of Governors, the president of the New […]

April 24, 2018 | Avoiding The Obvious

A new interview by James McDonald, Director of Enforcement for the US Commodity Future Trading Commission (CFTC), on Friday makes it clear that neither he nor the Commission has any intent to address the obvious manipulation of the silver market, conducted principally by JPMorgan.  As a reminder, preventing manipulation is the primary mission of the […]

April 24, 2018 | DJIA Sellers Crush a Key ‘Hidden’ Support

On Monday I’d hung out 24,042 as a good place to try tightly-stopped bottom fishing in the Indoos; however, sellers crushed this midpoint Hidden Pivot support, implying the Dow will be headed significant lower after the current bounce ends.  My latest update for INDU suggests a way to leverage this scenario, but it would take […]

April 24, 2018 | New Home Sales Top Estimates, Hit Four-Month High, Huge Surge in the West

New home sales rebounded strongly in March and revisions took February higher. The Census Bureau’s New Residential Sales Report shows a sales rebound in March. New Home Sales: Sales of new single-family houses in March 2018 were at a seasonally adjusted annual rate of 694,000, according to estimates released jointly today by the U.S. Census […]

April 24, 2018 | Getting Tight! Not Just Here But Everywhere

Let’s start with Caterpillar, the maker of earth moving equipment that has for years been the poster child for global slowdown. Every quarter was worse than the last as mining and construction companies around the world cut back on orders. Here’s a typical 2015 headline from Zero Hedge: “If Caterpillar’s Data Is Right, This Is […]

April 23, 2018 | Happy Anniversary, Silver Investors!

The silver volume that we saw last week was huge and we don’t mean only the one that accompanied the sizable daily price spike. The volume was huge also if we take the entire week into account. In fact, there was only a single week when silver rallied on volume that was bigger than what […]

April 23, 2018 | What’s Wrong with the Internet

  While the Facebook CEO Mark Zuckerberg made the admission during questioning on Capitol Hill Wednesday that his personal data was in the Cambridge Analytica leak, there is something seriously wrong with the entire scheme of the internet which should be outlawed right now. Facebook, Microsoft and everyone else came up with the whole idea that they […]

April 23, 2018 | America’s Economy Whimpers… It Doesn’t Roar

BARCELONA – This just in… from our man in Argentina… I stopped in Cafayate for lunch… In the square were some students from different schools celebrating “El día del aborigen Americano” [Day of the original American] as you can see in the picture. The teachers’ speeches were depressing… “The land is ours… We belong to […]

April 23, 2018 | 10-Year Rate Creeping Toward the Red Zone

A strong rally has brought yields on the 10-Year Note within easy reach of the 3.11% target first aired here in December, when the rate was hovering around 2.35%.  It’s remarkable that the U.S. economy and the stock market appear to have survived the rally, although it’s possible that by June both could be headed […]

April 23, 2018 | Key First Nation Open to Pipeline, and Seeks “a Reasonable Solution”

It’s another sign that indigenous leaders have recognized the need to stand up and be counted when it comes to projects that can help them break free of the poverty trap. It came as a surprise to some when Vancouver’s Musqueam Indian Band came out in support of a “reasonable solution” that recognizes the “vital […]

April 23, 2018 | Debt-Enabled Asset Bubbles on Crash Course with Demographics

For anyone who may have been unconscious or in outer space for the last 20 years, here are the Coles Notes: If finance had not been able to ‘securitize’ debts (turn them into assets) and sell them to speculators/investors over the past two decades, then debt creation could not have gone to such extremes and […]

April 23, 2018 | Tale of Two Cities

For me John Tory will forever live as a disembodied voice coming from my chunky ‘90s cell phone. Tory was running the backroom election campaign for Prime Minister Kim Campbell (remember her?) and I was a cabinet minister traveling the country trying to save a sinking Conservative ship. “But John,” I argued, “this is a […]

April 23, 2018 | Fake Markets Produce A Fake Economy

Automtaic Earth’s Raúl Ilargi Meijer just posted an essential essay on the world’s financial markets – or what used to be the world’s financial markets. Here’s an excerpt: “[Price discovery] is the process of determining the price of an asset in the marketplace through the interactions of buyers and sellers”, says Wikipedia. Perhaps not a […]

April 23, 2018 | EU Hit by Massive Aluminum Shortage: Trump Considers Easing Sanctions

The price of aluminum soared in the wake of Trump sanctions. Some EU plants are days from closing because of shortages. Tariffs and sanctions do not work. Sometimes they backfire spectacularly. Eurointelligence provides an interesting example. The EU is in a state of desperation over the fast arriving prospect of acute aluminium shortages as US […]

April 23, 2018 | Are We There Yet?

  It increasingly feels like we may soon get the gold price move we’ve been waiting for. I thought we wouldn’t see it until autumn, but I now think we could get a spring rally. That will help all the gold explorers and developers on the HRA list. Several of the latter are already outperforming […]

April 22, 2018 | The Great Green Wave is Coming

The great Green Wave is coming. By that, I mean the next big round of cannabis profits. Today, I’m going to tell you about some potential winners, some losers and one way you can play it. First of all, you know the legal cannabis market is going to be huge, right? Canada has already legalized […]

April 22, 2018 | Should Canada Refine its Crude Oil Instead of, or Before, Exporting it?

It seems like a common sense argument to state that a raw resource becomes more valuable if it is manufactured into a refined product. Yet this assumption remains a controversial one in 2018, especially when it comes to crude oil and pipeline politics. British Columbia’s premier, John Horgan, has been arguing that oil pipelines are […]

April 22, 2018 | Thursday Is the Big Day

There’s just one important event on the economic calendar this week:  AMZN earnings due out after the close on Thursday. The ‘experts’ are predicting $1.27 per share, but we know enough not to care whether the retailer beats their dart-board forecasts or not. Far more important is whether the lunatic juices are flowing on Wall […]

April 22, 2018 | Worsts

When the official numbers emerge in a week or so, the extent of social engineering will become obvious. Vancouver is pooched. Socialism doesn’t work. You cannot make things cheaper by taxing them more. Every politician in Canada should be watching, taking notes, and never forgetting. One of our great cities is in trouble, largely of […]

April 22, 2018 | Lesson From Canada: There Really Are No Rate Hike Targets

Despite an inflation spike in Canada, Bank of Canada Governor Stephen Poloz says “Rate hikes Aren’t Mechanical.” Bloomberg reports Poloz Says Canadian Inflation Spike Doesn’t Violate 2% Target. Bank of Canada Governor Stephen Poloz said he’s not worried about inflation temporarily rising above the 2 percent target this year, and the acceleration by itself isn’t […]

April 22, 2018 | The Pension Crisis Gets A Catchy Name: “Silver Tsunami”

Pensions really are in crisis, but the story is so full of large numbers, obscure projections, and dry terms like “unfunded liabilities” that not many people are paying attention. The same is true for a lot of other big trends out there, which is why those sounding the alarm eventually settle on pithy/scary (if not […]

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