More
Other People’s Money, by the millions, billions, trillions… Larry Summers doubletake: This is gonna trigger inflation Income starvation forces good money into really bad decisions The McAlvany Weekly Commentary with David McAlvany and Kevin Orrick Stimulus Fever: To Infinity and Beyond! February 9, 2021 Gold is not a gamble. It’s not a GameStop roll […]
Financial Control With One Goal… Destroy Capitalism You know US government spending is completely out of control. It was unsustainable before the pandemic; now it’s far worse. With Fed interest rates near zero and pressure to take them negative, you know inflation is not likely; it’s certain. And dollar depreciation isn’t a possibility; it’s inevitable. […]
[Yahoo/Bloomberg] U.S. Stocks Slip With Europe; Dollar Drops: Markets Wrap [Reuters] Dollar retreats on U.S. recovery doubts; bitcoin tops $47,000 for first time [Yahoo/Bloomberg] Gold Advances for Third Day With Stimulus, Inflation in Focus [Reuters] Oil climbs to 13-month high on output cuts, weaker dollar [Reuters] Biden will ‘walk, not run’ on trade deals as […]
[Reuters] Shares reach record high, oil tops $60 a barrel [Yahoo/Bloomberg] Stocks Hit Record, Bonds Drop on Reflation Trade: Markets Wrap [Yahoo/Bloomberg] Treasury Long Bond Reaches 2% Milestone as Global Yields Awaken [Yahoo/Bloomberg] Bond Traders See Strongest 10-Year Inflation Outlook Since ‘14 [Reuters] Dollar nurses losses as traders await more data to determine direction [Yahoo/Bloomberg] […]
[Yahoo/Bloomberg] Flash Loans Are Providing Instant Cash to Crypto Speculators [Reuters] China issues new anti-monopoly rules targeting its tech giants [Reuters] China Dec FX reserves fall slightly to $3.211 trln [CNBC] U.S. and China top diplomats talk tough on Myanmar and Taiwan in tense first call since Biden took office [Reuters] Protests sweep Myanmar to […]
Market Expects Fair Winds and Following Seas The markets got a taste of a risk-off environment last week. They quickly shrugged off a brief period of hedge fund balance sheet de-grossing to make new highs despite fears and worries about a deep correction. Indeed, one of the large investment banks had a note that suggested […]
[Reuters] Democrats clear path for approval of Biden’s $1.9 trillion COVID package [AP] Biden’s dilemma in virus aid fight: Go big or go bipartisan [Reuters] Wall Street Week Ahead: GameStop frenzy reveals potential for broader market stress [Yahoo Finance] Mohamed El-Erian on the GameStop short squeeze: ‘We came very, very close to a market accident’ […]
GameStop collapsed 80% this week, with Express and AMC Entertainment down 48%, Vaxart 36%, and Siebert Financial 31%. Riches have been made and lost. Wealth was redistributed – and count me skeptical that the flow was from professional speculators to retail traders. February 1 – Bloomberg (Matthew Boesler): “Federal Reserve Bank of Minneapolis President Neel […]
