Was that it? Is the great stock market correction of 2011 already over? Libya is in the throes of a revolution that threatens to spread to the more important parts of the oil producing world and the slippery stuff can’t hold above $100? All this geopolitical turmoil and gold can’t even make a new high? .. read more
Here’s a video of Richard Nixon announcing the end of the Bretton Woods monetary system. Biggest mistake in the history of American economics.
The ongoing turmoil in the Middle East has produced decisive moves in some markets. Obviously, oil is running up: And gold, the traditional safe haven has also spiked: But what about that other safe haven, the dollar? And what about Treasuries? If nothing else the big rise in oil prices should provide some bid to .. read more
Well, I think its official now. Everyone is bullish. On CNBC last week, Nouriel Roubini, aka Dr. Doom, the famous bear who allegedly predicted the financial crisis (stopped clocks and all that) pronounced that the bull may carry on for a while more. I think tactically for the next few months equities could rise because .. read more
There was a lot of hoopla last week about the stock market doubling since the post financial crisis low but if the rally is to continue, it is critical that the political class stop the posturing and get on with the people’s business. The release of President Obama’s budget last week was the latest indication .. read more
From Doug Terry: “Pressed on why his budget did not adopt the major recommendations of his fiscal commission, Obama said that the plan still provides a framework for debate. The notion that it has been shelved, I think is incorrect” Obama said. “It still provides a framework for the conversation. Come on?!! How stupid does .. read more