GDP, the Real Measure
Gross Domestic Production numbers will be released this week. They will probably be reduced from the previous 1.8 % , possibly down to a sub 1.0 number of 0.8 %. It is an indication that what you see in the…Continue Reading →
Archive for July 2013
Obama has it Half Right
A post on Slate yesterday was a good review on Obama’s effort to take the economic message to the people. What he said in his speech was basically correct. My view is inequity for the middle class is a function of a…Continue Reading →
Stocks are not an Asset
This may trouble your financial advisor, if you have one, hopefully not, but the asset index we follow of stocks,bonds, commodities, oil, dollar, and gold, topped out on September 13, 2012. Here we are some 10 months later and stocks…Continue Reading →
Full Moon, Probably the Biggest Factor Today
In looking through the fundamentals and charts this morning nothing stands out. The stock market has been on a short term Fed induced rally since July 10th and is extended above the shorterm swing area of 1657 on the S&P,…Continue Reading →
A Farewell Blowoff Rally for Ben
Congress and the market are giving a big thank you to Ben today as his era moves to a close. While he has done a lot for short term players in the markets, the long term consequences of enormous liquidity…Continue Reading →
Larry Summer update
Just a reminder. The Fact that Summers is even considered was our main reason to buy gold a few weeks ago. http://www.realclearpolitics.com/2013/07/16/why_summers_should_not_be_next_fed_chairman_311651.html
Ben Still on Script
Things are not so good for the economy apparently, no surprise. We remain out of the Dollar after exiting long positions recently. Our long position in Gold and T-bonds that we put on recently will remain. Today we will add…Continue Reading →
Inequity
Look at two headline articles on the front page of yesterday’s New York Times. Financial Crisis Just a Symptom of Detroit’s Woes – a story about the collapse of Detroit. Words to Start a Stampede: New York Apartment for Sale…Continue Reading →
The May-October Rolling Top Keeps Rolling
The trading range in the S&P 500 which we have outlined numerous times before and where we expect most of the trades to occur during this topping process is 1587 to 1662. Outlier trades can broaden the range to 1555…Continue Reading →
Incomes, Not Part Time Jobs, is What is Important Here
Fridays employment report provided a little excitement but the fact remains that deflation risks have not gone away. Part time jobs increased the most, but consumer incomes continue to be well below 2007 levels. See chart here from Doug Short.