The Market Still Doesn’t Care That The Government Is Closed
We are now in the third week of the government shutdown and we’re careening towards the first “deadline” of October 17 with no deal in sight. By that day the Treasury will reportedly have about $30 billion with which to pay its bills. That will leave less than two weeks to scrimp and scrounge before the next big deadline of November 1, at which time the government will no longer...
Read MoreThoughts on the 3rd Presidential Debate
I don’t know about you, but I’m glad that’s over with. We’re in the home stretch now with only two more weeks until the general election. Then we’ll have two whole years until the machinery cranks back up again for the next one. Let me start by saying that sitting presidents have a major advantage when it comes to a debate on foreign policy because unlike their...
Read MoreGovernment Lies (and Statistics)
The government is lying to us. I know this isn’t exactly news, because they lie to us all the time. But in this case, I’m talking about inflation. According to the most recent “official” government announcement by the Bureau of Labor Statistics on September 14, “The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6 percent in August on a seasonally...
Read MoreMore on Gold
For those of you new to my writings you may be unaware that I’ve been bullish on investing in gold since 2001 when the price was only about $270/oz. In fact, on my first appearance on the Fox News channel in December 2002 (you can view the clip, and all my appearances in the WAM in the Media section of my website: www.waminvest.com), one of my recommendations was Newmont Mining, then...
Read MoreQE3
About 30 minutes ago Fed Chairman Ben Bernanke, as expected, announced another round of quantitative easing (QE3) in a futile attempt to stimulate our moribund economy. This is simply throwing good money ($40 billion per month) after bad. In addition to the aforementioned bond buying program he guaranteed that rates will remain exceptionally low until at least 2015. While this is great for...
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