In Tuesday’s episode of CNBC’s Mad Money, host Jim Cramer shared his view that a major breakthrough in the gold market could be near, reports Kitco. Cramer said that large speculators in gold are a good indicator of the metal’s direction and that, given the many short positions and the metal’s contrarian nature, we could see a spike in gold prices. Read More

Jump up ^ Howe, Irving (1984). A Margin of Hope. Harvest Books. ISBN 978-0156572453. excerpted in "Arguing the World". (official website) PBS. Harold Rosenberg had an enviable part-time job at the Advertising Council, where he created Smokey the [sic] Bear. (The sheer deliciousness of it: this cuddly artifact of commercial folklore as the creature of our unyielding modernist!) The official Smokey Bear website the by Ad Council does not mention Rosenberg. No mention is made of Smokey Bear at Rosenberg's obituary at Russell, John (July 13, 1978). "Harold Rosenberg Is Dead at 72 Art Critic for The New Yorker". The New York Times.
A September 13, 2008, Wall Street Journal editorial prior to the election written by Phil Gramm, former Republican Senator and[21] campaign economic adviser to John McCain, and Mike Solon, former Policy Director under the George W. Bush Administration, suggested that looking at the Senators' respective states proved traditional Republican strategies, enacted by McCain, would be better for the economy than traditional Democratic strategies, enacted by Obama, arguing "Mr. Obama would stimulate the economy by increasing federal spending. Mr. McCain would stimulate the economy by cutting the corporate tax rate."[22] Gramm had introduced the Gramm-Leach-Bliley Act[23] which editors of the same paper, The Wall Street Journal, pointed out in a March 10, 2009, article had been blamed for deregulating major corporations and "allowed for the creation of giant financial supermarkets that could own investment banks, commercial banks and insurance firms, something banned since the Great Depression. Its passage, critics say, cleared the way for companies that were too big and intertwined to fail."[24] That month, September 2008, would see record drops in the Dow, including a 778-point drop to 10,365.45 that was the worst since Black Monday of the 1987 stock market crash[25] and was followed by a loss of thousands of points over the next two months, standing at 8,046 on November 17 and including a 9% plunge in the S&P on December 1, 2008.
Historically, municipal bonds have been one of the least liquid assets on the market. While stocks can be bought and sold within seconds on exchange platforms, given the current absence of widespread secondary market platforms for the exchange of stocks, municipal bonds are much harder to maneuver. At the same time, the minimum investment amounts for stocks are typically <$500 and about $1000 for CDs and money markets; in comparison, municipal bonds have higher average buy-in minimums of $5000. These minimum investment amounts previously barred many individuals from investing in bonds.
This article will focus on the top four precious metals, gold, silver, platinum, and palladium.  Even though Rhodium and other metals are considered precious, the ones listed above take the lion’s share of the investment market.  Furthermore, while platinum and palladium are purchased as investments, they have a much larger industrial component than gold or silver. Read More
For me, this is the most important part of George’s new economics. The entrepreneur must know that if his product or service succeeds at the market, it won’t be regulated out of existence. And the profits will not be taxed away. If he doesn’t have that assurance, the likelihood of turning his idea into a product or service is greatly diminished. That results in less entrepreneurial creations, which means less knowledge and wealth in the economy.
The drop below the support at $1220 in July was particularly damaging and led to additional liquidation and a capitulation spike down to $1160, despite an overwhelmingly bullish technical picture. The speculative positioning of Comex traders (COT) is usually a reliable contrarian indicator at turning points, and in fact the COT readings are at an extreme bullish level not seen since the beginning of gold’s last secular bull market in 2001. When it looks too good to be true, it usually is. Read More
Appeal Case – “Given my status at the time, I felt completely lost and was afraid to make the wrong move given the risks. I wanted guidance and wasn’t completely sure who to turn to.  I exchanged emails with Mr Kuhner then moved forward with his coaching service. My entire situation was nerve-wracking, and I did not feel I was prepared to handle it on my own. Now, I feel great that my problem is resolved.  And even better that I have gained knowledge, I did not previously know or fully understand. It was also a pleasure working with Mr Kuhner (Coach-for-College), who was nothing but professional in assisting me.”  – Dorothy D. – New Jersey [Appeal Award $3,000]
In the current issue of Grant’s we have in the headline of the front pages today “Xi Jinping’s Poisoned Chalice.” This is the Xi Jinping (whose name I think I am butchering in pronunciation) is of course the new president for life. And our sense is that one-term presidencies in China are better than two terms, and that better than either would be emigration. So we think that Xi Jinping is the president for life in the wrong country.
As Benjamin Westerman, CPA/PFS, CFP® in St. Louis, MO explains, many investors look to bond holdings and cash during a market downturn. “Bonds are your 'sleep at night' money that is protected during a bear market, while you wait for your investment portfolio to recover. In addition, if you have any money on the sidelines or are still in the accumulation/savings phase of your life, this is a great opportunity to invest in equities while stocks are on sale.”
That's how bears and bulls first became linked in people's minds. In the 17th century, hunters would sell a bearskin before catching a bear. In the stock market, short sellers did the same thing. They sold shares of stock before they owned them. They bought the shares they day they were to deliver them. If share prices dropped, they would make a profit. They only made money in a bear market.

A second migrant caravan has been attempting to breach Mexico’s border with Guatemala, and the media is reporting that some migrants in that second caravan are armed with “guns” and “bombs”.  This is a very serious claim, and it needs to either be confirmed or retracted, because it is not helpful to have unconfirmed reports spreading like wildfire on social media.  There have been endless discussions about these migrant caravans on all the major news networks in recent weeks, and they are getting so much attention that they are almost overshadowing the midterm elections which are going to happen next week.  And if this latest report is true, concern about these caravans is certain to reach a fever pitch…Read More
Peter Schiff has been saying for weeks this is a bear market. Well, now even Pres. Trump has said investors may see some short-term pain in the stock market. But the president says it will all be worth it because we will get long-term gain, referring to the benefits we’ll reap when we win the trade war. In his most recent podcast, Peter said that’s not how it’s going to play out. Read More
The current sell-off comes as a shock to investors who have grown accustomed to the eerie market calm and steady gains during much of the administration of President Trump. But this volatility is something you should get used to because it’s more typical of the advanced stages of a bull market, says Robert Bacarella, founder and chairman of Monetta Financial Services, who helps manage the Monetta Fund MONTX, -0.52%  and the Monetta Core Growth Fund MYIFX, -0.67%
What we can expect is that without renewed buying pressure to continue the trend upward — unlikely given the risk numbers and new downward trend — that the market has quite a large potential drop that it can sustain in coming months or quarters. The bottom of the range is around 1200 on the S&P 500 — over a 30% drop from here. Due to all of the intervention of central banks and governments recently and likely coming, I don't expect the S&P 500 will fall any further than about 1200 and might not quite make it all the way there at all, as there is a lot of money on the sidelines. Investors need to be aware of that risk, though.
As Niall pointed out: “Things are becoming quite disorderly for the liberal order.” Before we go on, I want to make a critical point. Whether you support military intervention, or not, isn’t the issue here. The issue is that without the US playing the role of guarantor, we are likely to see a rise in conflicts. That is going to affect financial markets and your portfolio.
These also include companies that service the needs of businesses and consumers, such as food businesses (people still eat when the economy is in a downturn) and companies that sell basic consumer goods (people still need to buy toothpaste and toilet paper). In this same vein, it is the riskier companies, such as small growth companies, that are typically avoided because they are less likely to have the financial security that is required to survive downturns.

JOIN PETER at the New Orleans Investment Conferencehttps://neworleansconference.com/conference-schedule/Democrat Women Screaming in AgonyBrett Kavanaugh, over the weekend was confirmed by the Senate, and there were some Democrat women in the gallery watching the vote and they were just screaming in agony; that this was such a terrible thing. I ...…
Debt, my man, debt. In the rush to FIRE economy how could anything be better than DEBT? Particularly if you get the debtors to re-contract for that debt, and more, every so many months, resetting the terms of their interest payback to the beginning of the curve each time? As Ron said, this was all Monopoly money…that people agreed to pretend was real. The problem with speculation is that once you have more than a few people dancing atop the Milk the Suckers ponzi pyramid, it ceases to be a pyramid shape….
Is the U.S. Government hiding a massive gold deposit in the Chocolate Mountains in California?  Well, according to a few top-notch conspiracy theorists, the U.S. Congress passed the Desert Wilderness Protection Act that has cordoned off this vast gold discovery from the public.  Unfortunately, we may never know if this mammoth gold deposit exists due to the clandestine nature of our government… or will we? Read More

But I want to add some good news for the market. Fortunately, there are big technical differences between now and 1929. The market does not show the extremes signs of internal weakness that it showed back then, or in 1937, 1973, 2000 or 2008 when other tops were made. So talk of a huge Crash I would not take seriously. Still, a 20% decline seems much more likely than not. Will it stop there if the computers that dominate the market start doing what they did in October 1987? I would not count on it. I would not want to bet that Wall Street has learned the lessons from that year. It has been too profitable for Wall Street to forget all those lessons.
The reason there are no prescription medications available today where the side effects aren’t worse than the ailment being treated is because Big Pharma will not treat or heal anything without creating several new issues that keep their “customers for life” coming back for more. Most Americans do not want to stop eating junk food, fast food, corporate franchise restaurant food, microwaveable food, prepared food bar “stuff,” and “diet” food that’s mostly chock full of synthetic sweeteners, GMOs and MSG. Read More
When I was a young lad, there was a classmate (let's call him "Frankie") in the very early years of my education whose behavior was quite often deemed as "peculiar" and while I found him immensely entertaining, the teaching staff and my fellow students did not entirely agree. Frankie was the kind of kid who would bang on our doorknocker on a frigid winter morning just before sunrise, fully clad in hockey skates, gloves and stick, and ask if he could skate on our frozen backyard hockey rink. The fact that it was a school day made it not exactly the brightest of decisions but my Dad would invariably say "Alright. You two boys have got 20 minutes then back in your houses to get ready for school." It was never an outright rejection on the grounds of unsuitable behavior; it was more so an accommodation for the simple reason that 20 minutes of hockey at 6:35 a.m. in advance of school was a "noble enterprise" and certainly beat watching Captain Kangaroo over a bowl of Fruit Loops. Read More
Murphy also included the District of Columbia in his research, and found it had a psychopathy level far higher than any other state. But this finding is an outlier, as Murphy notes, as it’s an entirely urban area and cannot be fairly compared with larger, more geographically diverse, US states. That said, as Murphy notes, “The presence of psychopaths in District of Columbia is consistent with the conjecture found in Murphy (2016) that psychopaths are likely to be effective in the political sphere.”
The Accountable Capitalism ActElizabeth Warren unveiled her new idea in an op-ed in the Wall Street Journal. It is her new bill, called the Accountable Capitalism Act. Of course, I have said this before, there is no truth in advertising when it comes to legislation. Whenever Congress passes a bill, the name of the bill is generally the opposite ...…
Before it collapsed, the city of Rome had a population greater than 1,000,000 people. That was an extraordinary accomplishment in the ancient world, made possible by many innovative technologies and the organization of the greatest civilization that the world had ever seen. Such an incredible urban population depended on capital accumulated over centuries. But the Roman Empire squandered this capital, until it was no longer sufficient to sustain the city (we are aware the story is more complicated than this).
We have very few people left worldwide who actually lived through the Great Depression.  While I have been told many stories by my grandparents of what it was like to live through the 1930’s and 1940’s, I clearly do not have first-hand experience.  Yet, I would assume that I still have a better understanding of that time period than most of the people reading my words today. Read More

The global financial crisis of 2008 was essentially caused by excessive leverage, a loss of confidence in real estate credit and a resulting sudden collapse of liquidity in the financial system. The central bank response was to lower interest rates and flood markets with liquidity. Since then, debt loads have increased more than 30% and the percentage of higher risk credit has also grown sharply. Many analysts believe that another crisis is possible due to a combination of enormous leverage and deteriorating credit standards. What will happen to gold if we have another financial crisis?


If you’re doing well right now, what else really matters? The stock market seems to be on a bizarro perpetual escalator to neverending prosperity, despite rafts of economic fundamentals that paint a portrait of debt-bloated, weak economy, oceans of free debt have been available for years on end to fund lifestyles well beyond earned means, and so long as one has sufficient exposure to risk assets, why bother worrying about big-picture insolvencies that are still years away? Read More
The current sell-off comes as a shock to investors who have grown accustomed to the eerie market calm and steady gains during much of the administration of President Trump. But this volatility is something you should get used to because it’s more typical of the advanced stages of a bull market, says Robert Bacarella, founder and chairman of Monetta Financial Services, who helps manage the Monetta Fund MONTX, -0.52%  and the Monetta Core Growth Fund MYIFX, -0.67%

By the way, investors are keeping an eye on Washington’s relationship with other major economies, including Canada. Both the United States and Canada are yet to secure a deal that would replace the North American Free Trade Agreement (NAFTA). Lest we forget, Trump did threaten to leave Canada out of the new NAFTA. He said that there was “no political necessity” to have Canada in the new NAFTA deal. This has been challenged by Richard Trumka, president of the AFL-CIO. Trumka categorically mentioned that NAFTA won’t work if Canada isn’t included and that the new deal structure remains too vague.


Lost in the largely meaningless political Kabuki theatre being staged on Capitol Hill is the fact that the economy is deteriorating. Real average weekly earnings in July declined for production and non-supervisory workers. It was down 0.01% from June to July and down 0.22% from July 2017. For all employees, real average hourly earnings declined 0.20% from June to July but was flat year over year. Read More

Key information about new issues of municipal bonds (including, among other things, the security pledged for repayment of the bonds, the terms of payment of interest and principal of the bonds, the tax-exempt status of the bonds, and material financial and operating information about the issuer of the bonds) typically is found in the issuer's official statement. Official statements generally are available at no charge from the Electronic Municipal Market Access system (EMMA) at http://emma.msrb.org operated by the Municipal Securities Rulemaking Board (MSRB). For most municipal bonds issued in recent years, the issuer is also obligated to provide continuing disclosure to the marketplace, including annual financial information and notices of the occurrence of certain material events (including notices of defaults, rating downgrades, events of taxability, etc.). Continuing disclosures is available for free from the EMMA continuing disclosure service.

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How fast and furious it goes will depend on many things and is somewhat hard to predict. The tax cut means a lotta corporate cash is coming back for stock buybacks. This counteracts the trend from the Fed portfolio decline. On the other hand more and more being are seeing the professional market cheerleaders for what they are - con artists or children. So that trickle could easily be overwhelmed by the thundering waterfall of people whose eyes have been opened up to the overwhelming heroic assumptions required to keep this bubble inflated this high.
The Pecora hearings, as they became known (after their lead counsel, Ferdinand Pecora), revealed the seamier side of Wall Street during the bull market: the involvement of leading firms and bankers in the manipulation of share prices, the dumping of unseasoned securities on an innocent public, the fleecing of the firms’ own clients, the preferential distribution of shares to favored friends, and so on.
The world has been plagued with periodic bouts of the economic rollercoaster of booms and busts, inflations and recessions, especially during the last one hundred years. The main culprits responsible for these destabilizing and disruptive episodes have been governments and their central banks. They have monopolized the control of their respective nation’s monetary and banking systems, and mismanaged them. There is really nowhere else to point other than in their direction.
While $1 billion may not sound like much when compared with the Peoples’ Bank of China total holdings of US Government debt of more than $1 trillion or to the US Federal debt today of over $20 trillion, it’s significance lies beyond the nominal amount. It’s a test run by both governments of the potential for state financing of infrastructure and other projects independent of dollar risk from such events as US Treasury financial sanctions. Read More

This is just the beginning of a long trip that will take us to South America (where we get to see a financial crisis underway in Argentina)… Germany (where we hope to find out more about how Germans are preparing to tighten up at the European Central Bank)… and Bermuda, where we are scheduled to give a speech to a group of readers at the Legacy Investment Summit. Read More


In 2012, NASA, the U.S. Forest Service, the Texas Forest Service, and Smokey Bear teamed up to celebrate Smokey's 68th birthday at NASA's Johnson Space Center in Houston. The popular mascot toured the center and recorded a promotional announcement for NASA Television. NASA astronaut Joe Acaba and the Expedition 31 crew chose a plush Smokey doll to be the team's launch mascot, celebrating their trip to the International Space Station. During his tour about 250 miles above Earth, Smokey turned 68 years old.[60]
4. The new car sales cycle has probably peaked and will head much lower in coming years. The auto industry accounts for about 2.9% of GDP and directly employs 1.7 million people with many more jobs supported indirectly. A slump in the auto industry will become a drag on overall economic growth in the U.S. The subprime auto loan default rate is rising to near the high levels caused by the financial crisis and will probably go much higher.
By a very wide margin, this is the most optimistic that Americans have been about the future since I started The Economic Collapse Blog in late 2009.  Even though the middle class is shrinking, 102 million working age Americans do not have a job, and we are now 21 trillion dollars in debt, most people are feeling really good about things right now.  Especially among Republicans, there is an overwhelming consensus that the United States is starting to head in the right direction and that better times are ahead.  As a result, so many of the exact same people that were “prepping” while Barack Obama was in the White House are now partying now that Donald Trump is president. Read More
There was a great sense of triumphalism in the councils of the president’s economic advisory committees. But then, lo and behold, comes the Vietnam War, comes the demographic, comes the coming of age of the baby boomers, comes all sorts of things which in retrospect appear to have been instigators of the price inflation. But they were not so regarded at the time.
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