As with many other industries, the reality of supply and demand impacts every aspect of the financial market. It is predicted that in 2018 the United States Treasury will have net new issue of $1.3 trillion in treasury bonds and the national debt will continue to rise. This new influx of debt will need to be purchased by the market, but the Federal Reserve is reducing the amount that it’s purchasing – their bond holdings will decrease by 10% over the next year. International buyers will become an even more important cog in the wheel, and David comprehensively explores the global supply and demand structure on this episode of Money For the Rest of Us. You also don’t want to miss his bear market investment suggestions, so be sure to listen.

As of early March 2009, the Dow Jones Industrial Average had fallen 20% since the inauguration of President Barack Obama (less than two months earlier), the fastest drop under a newly elected president in at least 90 years.[26] Editorials in the Wall Street Journal by the editorial staff and Michael Boskin, one of George H.W. Bush's Council of Economic Advisors, blamed this on Obama's economic policies.[27][28][29]


POST YOUR REVIEW OF THIS PODCAST ON iTunesVoting Responsibly for FreedomI am "pro" young people because I want them to grow up in a free country. I want them to have every opportunity to be as prosperous as possible. Democracy is actually an enemy of freedom. Young people have a better chance to achieve their goals if the 18-19-20 year old gene ...…
In the 9th largest economy in the world, the financial markets are crashing, and in the 21st largest economy in the world the central bank just raised interest rates to 65 percent to support a currency that is completely imploding.  Whilethe mainstream media in the United States continues to be obsessed with all things Kavanaugh, an international financial crisis threatens to spiral out of control.  Stock prices are falling and currencies are collapsing all over the planet, but because the U.S. has been largely unaffected so far the mainstream media is mostly choosing to ignore what is happening.  But the truth is that this is serious.  The financial crisis in Italy threatens to literally tear the EU apart, and South America has become an economic horror show. Read More
For the past few weeks, I’ve been intensely focused on what I believe to be a double cross in COMEX gold futures by JPMorgan of other trading entities, particularly other commercial participants. I would define the double cross as JPMorgan positioning itself so flawlessly so as to be nearly perfect in its execution, including the avoidance of any widespread knowledge of what has occurred. After all, a double cross always includes the element of surprise and this one promises to be a doozy. Read More
A bond is a promise to pay money, right? And what is money? What is money? Years ago when QE just started, there was a letter to the editor of The Financial Times. And the author of this letter said: At long last I have now understood the meaning of the term “quantitative easing.” I now understand that. What I no longer understand is the meaning of the word “money.”
Many of us do think that something isn’t quite right with the world economy. One in a million actually understands, where does it go wrong? Powers that be, do not want you to know about it as it’s your ignorance which keeps them at the top of the financial food chain. I don’t know of any other example in history where so many were looted by so few.
A new survey of 375 US chief financial officers, which is in the latest Financial Analysts Journal, found earnings’ “misrepresentation” tended to be large, approximating to 10 per cent of reported earnings. Usually, companies exaggerate earnings, although profits are deliberately lowballed in a third of cases; by establishing “cookie jar reserves” that reduce current profits, firms can later boost earnings by releasing reserves.
The gains have been fairly broad based. Currently, according to data from StockCharts, 76.2% of S&P 500 components are trading above their 50-day moving averages, a closely watched technical level that is typically seen as a proxy for positive short-term momentum. In late August, only 41.5% of components were above this level. Currently, 73.8% of components are above their 200-day moving average, up from about 62% in early September.
Pater Familias is Latin for “father of the family or eldest male in a family or owner of the family estate”.  This past week having just turned 60 I am reminded of my role as head of my little family.  My own father, partner and friend died a little over 6 years ago but somehow turning 60 has reminded me of the responsibility I have for my family as well as my extended family.  As my regular readers know I just returned from Tartas France a couple of months ago where I traced my family back 9 generations.  For some reason the older I get the more important family history becomes.  A lot of responsibility goes with the being the pater familias. Read More
Now the similarities are closely aligned in terms of banking policy.  Our Federal Reserve followed a more aggressive path than Japan in bailing out our large banks.  Yet all this did was make the too big to fail even bigger and exacerbated underlying issues in our economy.  Four full years into the crisis and we are still dealing with a massive amount of shadow inventory.  Remember the initial days when the talk was about working through the backlog of properties in a clean and efficient manner?  Whatever happened to that?  Banks operate through balance sheet accounting and it has made more sense to pretend the shadow inventory has somehow maintained peak prices while chasing other financial bubbles in other sectors.  Not a hard way to make money when you can borrow from the Fed for virtually zero percent.

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).
Many BullionStar customers are already be familiar with using Bitcoin when buying and selling gold, silver and platinum bars and coins, as BullionStar has been accepting Bitcoin as a form of payment since May 2014. BullionStar was one of the first bullion dealers worldwide to offer customers the ability to buy and sell physical precious metals using Bitcoin. Now with the addition of Ethereum, Bitcoin Cash and Litecoin, BullionStar is again one of the first bullion dealers in the world to offer customers the ability to transact in these other leading cryptocurrencies for both buy and sell orders.Read More
For generations, advocates of private gun ownership have been fighting exhaustively through political channels to protect their right to keep and bear arms. Gun owners even have one of the strongest lobby groups in Washington, the highly disappointing NRA. Yet over the years, gun rights continue to diminish in America, despite the constant political campaigns by the NRA and politicians that claim to support gun rights. Read More
Are the metals markets ending a price correction in unison and preparing for a massive price advance? This is the question we asked our research team to investigate and their findings may help skilled traders identify great opportunities in the future. This multi-part research article will share our most recent opinion about the metals markets as well as share some critical new data that can shed some light into what we believe will become a massive upside price rally in the metals markets. Let's get into the data. Read More
Surely last week this foundering nation finally reached Peak Social Justice Warrior Bullshit with The New York Times hiring of genocide-for-white-people advocate Sarah Jeong, 30, as an op-ed writer on tech matters. Apparently, one angle of the tech world Sarah Jeong overlooked was the mile-wide Twitter trail of messages she left over the past ten years declaring that white people should be “canceled out,” “made to live underground like groveling goblins,” or this pungent one from the Reinhard Heydrich playbook: “Oh man it’s kind of sick how much joy I get out of being cruel to old white men.” Read More
The poll of 30 finance professionals on four continents showed a lack of consensus on the asset judged as most vulnerable now, with answers ranging from European high yield to local-currency emerging-market debt, though they were mostly in the bond world. Among 25 responding to a question on the next US recession, the median answer was the first half of 2019.
“The big lesson of history is that we have run the experiment of hyper-globalization before. In the late 19th century, many of the forces we are seeing [today] were at work: International migration reached levels we have begun to see again, the percentage of the US population that was foreign born reached 14%, and free trade and international capital flows reached new heights. At the time, the 1% were tremendously happy. Unfortunately, they underestimated the backlash that happens when globalization runs too far. The populist backlash [in the late 19th century] was just the beginning of a succession of crises that culminated in 1914 with WWI. War can be global too, and we will know the Liberal International Order has failed when it does what the last one did, and that is to produce a major conflict.”
bear, suffer, endure, abide, tolerate, stand mean to put up with something trying or painful. bear usually implies the power to sustain without flinching or breaking. forced to bear a tragic loss suffer often suggests acceptance or passivity rather than courage or patience in bearing. suffering many insults endure implies continuing firm or resolute through trials and difficulties. endured years of rejection abide suggests acceptance without resistance or protest. cannot abide their rudeness tolerate suggests overcoming or successfully controlling an impulse to resist, avoid, or resent something injurious or distasteful. refused to tolerate such treatment stand emphasizes even more strongly the ability to bear without discomposure or flinching. unable to stand teasing

The public pension fund system is approaching apocalypse.  Earlier this week teachers who are part of the Colorado public pension system (PERA) staged a walk-out protest over proposed changes to the plan, including raising the percentage contribution to the fund by current payees and raising the retirement age.   PERA backed off but ignoring the obvious problem will not make it go away.
One of the major indicators that a bear market may be on the way is the yield curve. While the yield curve is currently flattening out, and not inverting, by sitting at around 0.2%, it is right on the edge. When the yield curve is flat, that means that the 2-year spread and the 10-year spread for bonds (in the case of the U.S. Treasury yield curve) are around the same -- basically, that the long-term interest rates aren't much better than the short-term interest rates (which they ideally should be). Given that interest should be higher for lending the government money over a long time (giving up the opportunity to do other things with your money like invest in stocks), an inverted yield curve is a sign of danger and a possible bear market. 

Over the past four decades, globalization has enabled the transfer of millions of jobs from the US to various emerging-market countries. It changed the relative value of capital and labor all over the world. The top earners started getting a larger share of their income from investments than from their labor. They own the “means of production,” and the producers did increasingly well from the ’70s forward. 

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Upon his death on November 9, 1976,[27] Smokey's remains were returned by the government to Capitan, New Mexico, and buried at what is now the Smokey Bear Historical Park,[33] operated by New Mexico State Forestry. This facility is now a wildfire and Smokey interpretive center. In the garden adjacent to the interpretive center is the bear's grave.[11][34] The plaque at his grave reads, "This is the resting place of the first living Smokey Bear ... the living symbol of wildfire prevention and wildlife conservation."[35]
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.
Dow Ending a Down Week on a Positive NoteThe Dow managed to finish a down week on a positive note; the Dow Jones was up about 55 points - 24,270-ish is where we closed. Although intra-day, we were up better than 250 points, so most fo the losses came toward the end of the day, as the Dow was not able to hold on to all those gains. It held on to ...…

Last week, yields on the German 10-year Bund and 10-year U.S. Treasury notes hit record highs for 2015, rising 85 basis points and 72 basis points, respectively, since their lows this year. Rather than trying to deter the selloff, European Central Bank President Mario Draghi fanned the flames on June 3, saying that European bond investors should expect greater volatility amid a stronger economic outlook and higher inflation expectations. Credit Suisse equities analysts take things a step further, forecasting that bonds are entering a multi-year bear market.
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