Latest Posts
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Our National Debt Will Grow To $31 Trillion By 2023
It just seems like human nature to ruin a good thing. As much as I am a strong proponent of free market capitalism, and against complex regulations and central planning, I understand government’s role in all this. Capitalism and democracy teamed up in the late 1700s to form the big bang in economics, or what I call “When Harry met Sally.” They’re opposites that balance each other – capitalism rewards people for their contributions, and democracy ensures that greed doesn’t take over. We took Adam Smith’s theory of the “invisible hand,” limited government and laissez-faire politics… and combined it with Alexander Hamilton... -
Finance 0
Gold Weekly Analysis
Gold prices settled at $1273.21 an ounce on Friday, suffering a loss of $11.80 on the week, as the U.S. dollar’s strength against other currencies weighed on the market. The XAU/USD fell as low as $1256.83 earlier in the week but the weakness in global equity markets helped recoup some of the earlier losses. Friday’s data from the Commodity Futures Trading Commission (CFTC) showed that speculative traders on the Chicago Mercantile Exchange reduced their net-long positions in gold to 264898 contracts, from 271648 a week earlier. Gold has rallied 19.8% this year, mainly driven by the continued unease surrounding the global markets a... -
Finance 0
Daily Market Digest: Brexit Talks Dominate On A Slow Moving Day
Image via www.bankofengland.co.uk / Flickr. Photographer: James Oxley British industry and key officials are weighing in on the outcome of the Brexit vote on a day where most of the Europe is closed due to Whit-Monday holiday. The US NY Fed Empire state manufacturing index showed a contraction in May. Today’s Economic events UK Rightmove HPI m/m 0.40% vs. 1.30% previously Japan PPI y/y -4.20% vs. -3.70% Japan preliminary machine tool orders y/y -26.40% vs. -21.20% US Empire state manufacturing index -9.0 vs. 7.2 Coming up NAHB Housing market Index BoC review US TIC long term purchases Japan PPI falls 0.30% in April Producer prices in Japan ... -
Finance 0
CAD: Expected Q2 Weakness More Than Just Alberta Fire: Where To Target? – CIBC
The Canadian dollar did enjoy rising oil prices, but it doesn’t help that much when the source of these rises comes from home, from the Alberta fires. This isn’t the only problem for the Canadian economy: Here is their view, courtesy of eFXnews: The weak data we think is just around the corner for Canada, rather than an overly pessimistic view of the disruption caused by the Alberta fires, is the reason why we think GDP will disappoint in Q2. Indeed, the downgrade to our forecast due to the fires (around 1%- pt from Q2) is very close to that of the consensus. Our weaker starting point, though, means we are projecting a modest pull-back in... -
Finance 0
SPY Ready To Roll Lower
“You may have to fight a battle more than once to win it.” –Margaret Thatcher Poor action in stocks as earnings numbers continue to be weak. Looks now as if the next move will be lower. SPY looks to be set to break this head and shoulders top now which targets a move to 200.... -
Finance 0
The Stock Whisper Of The Day: GDX, SPY, VXX
Hot stocks of the day: GDX, SPY, VXX Video length: 00:03:32... -
Finance 0
Weekly Market Outlook – On The Verge Of A Bigger Pullback?
Weekly Market Outlook – May 16, 2016 The market may have started the previous week on a bullish foot, but it certainly didn’t end the week on one. Not only did the S&P 500 (SPX) (SPY) log three straight losing days to end last week’s trading, but it broke below a key support level it couldn’t really afford to break. Stocks still aren’t past the point of no return yet, but it’s alarmingly close. We’ll dissect the odds below after running down last week’s and this week’s major economic headlines. Economic Data Not a lot of economic news worth exploring from last week. The only items of ... -
Finance 0
Traders Stumped By Sudden Flash Crash In Chinese H Shares
Just around 2:14am local time (2am EDT), Asian traders were surprised to observe in the Chinese market something which until recently had been a purely development market phenomenon: a flash crash. A sudden plunge by Chinese stocks in Hong Kong had traders scrambling to find a trigger for the slump that coincided with a surge in futures volumes Bloomberg writes. The Hang Seng China Enterprises Index tracking some of the nation’s biggest companies tumbled from an advance of 1 percent to a loss of 1.5 percent in about two minutes, before rebounding to a gain. Stocks including Tsingtao Brewery Co. and PetroChina Co. fell sharply at 2:14 p.m... -
Finance 0
GBP/USD: Short Term Bias Remains Lower Despite Hesitation
GBP/USD: The pair closed lower the past week leaving risk of additional weakness on the cards in the new week. Despite its present price hesitation, short term risk remains lower. On the downside, support lies at the 1.4300 level where a break will turn attention to the 1.4250 level. Further down, support lies at the 1.4200 level. Below here will set the stage for more weakness towards the 1.4150 level. Conversely, resistance stands at the 1.4400 level with a turn above here allowing more strength to build up towards the 1.4450 level. Further out, resistance resides at the 1.4500 level followed by the 1.4550 level. On the whole, GBP/USD remai... -
Finance 0
Is Central Banking Sliding Into The Quagmire Of Politics?
The Bank of England’s governor on Friday warned that Britain risked an economic recession if citizens voted to leave the European Union (EU) in next month’s referendum. “In that scenario we would expect a material slowing in growth, a notable rise in inflation, a challenging trade-off,” Mark Carney predicted at a news conference. Prudent advice from a sober-minded central banker? Or, as critics charge, a misguided effort to sway a democratic debate by pushing an institution that should remain above the fray into the political arena? On one level the prediction represents a reasonable view of what could unfold if Britain embraces B...
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