Logo Background RSS

Advertisement

» john rubino

  • Market Top? | Second Dumbest Money Pouring Into Stock...
    By on March 9, 2017 | No Comments  Comments
    One of the traditional signs of market tops is individual investors finally succumbing to the lure of apparently easy money and pouring their savings into the stock market. In the past this dumb money flowed into equity mutual funds in general. But today it’s favoring exchange traded funds (ETFs) ...
  • How We Got Here In One Sentence…
    By on March 7, 2017 | No Comments  Comments
    In every annual budget debate since the 1980s, one side figures out that the way to get what it wants – which is higher spending – is to frame the request in a particular, ingenious way: We have to borrow and spend way more now if we want to borrow and spend way less later. History has of course...
  • How Many Euro Crises Will This Make? It’s Getting H...
    By on February 24, 2017 | No Comments  Comments
    Every few years, it seems, one or another mismanaged eurozone country falls into one or another kind of crisis. This leads to speculation about the end of the common currency, which in turn spooks the global financial markets. Then the ECB conjures another trillion euros out of thin air, buys up and...
  • This Is Why You Don’t Own A Lot Of Stocks
    By on February 23, 2017 | No Comments  Comments
    You’d think that by now every relevant measure of stock market overvaluation would have been converted into a chart and circulated throughout the blogosphere. But Zero Hedge has come up with a new one depicting how long the typical wage slave has to work to buy the typical stock. And – surprise ...
  • Is This What They Mean By “Crack-Up Boom”?
    By on February 17, 2017 | No Comments  Comments
    In 1980, the US government – along with pretty much all of its peers – began borrowing at an accelerating rate. Note on the following chart how the trend line steepened in the 2000s and then steepened again in this decade, with a sudden and unexpected pop in 2015 and early 2016, even as the curr...
  • Major Inflection Point Coming
    By on February 7, 2017 | No Comments  Comments
    Fund manager John Hussman is always good for dramatic charts. Here’s a recent one: This ratio is even scarier than it looks, says Hussman: Historically-reliable valuation measures now approach those observed at the 2000 bubble peak. Yet even this comparison overlooks the fact that in 2000, the ov...
  • This Pension Thing Is About To Get Real
    By on January 26, 2017 | No Comments  Comments
    “The problem with police officers and firefighters isn’t a public-sector problem; it isn’t a problem with government; it’s a problem with the entire society. It’s what happened on Wall Street in the run-up to the subprime crisis. It’s a problem of people taking what they can, just becaus...
  • Gold: Getting There A Little At A Time
    By on January 11, 2017 | No Comments  Comments
    One of life’s hardest-to-learn but most necessary lessons is that things usually take a lot longer to work out than you’d like them to. That’s where the sayings “Being too early is the same as being wrong” and “The market can stay irrational longer than you can stay solvent” come from....
  • Three Mini-Bubbles Are Bursting
    By on January 5, 2017 | No Comments  Comments
    The world has gotten so used to ultra-low interest rates that even economists and money managers seem to be shocked by what happens when rates start creeping back towards normal levels. Some of the mini-bubbles that formed in an essentially free-money environment are now starting to leak. Notably: U...
  • 2007 All Over Again – Part VI: Stock Valuations...
    By on January 4, 2017 | No Comments  Comments
    The Trump Christmas stock market rally has taken valuations beyond a point that in the past has signaled trouble, which in turn has generated a lot of cautionary press like the following: Market indicator hits extreme levels last seen before plunges in 1929, 2000 and 2008 (CNBC) – While the S&...
  • What Gold Does In A Currency Crisis: Brexit Edition
    By on November 4, 2016 | No Comments  Comments
    In June the UK shocked the world – or at least the world’s elites – by voting to pull out of the European Union. Economists predicted disaster, EU leaders threatened pain for British exporters and tourists, and the media settled in to watch the UK shrivel and die. Four months later, the approp...
  • Stupid Stuff: Late-2016 Edition
    By on October 27, 2016 | No Comments  Comments
    Cyclical turning points tend to feature large numbers of people doing and saying what in retrospect turn out to be amazingly dumb things. Think GM highlighting its line of Hummers just before an oil price spike bankrupts the company. Or half the world betting that tech stocks with infinite P/E ratio...
  • More Good News For Gold Bugs: The Bottom Is Getting C...
    By on October 26, 2016 | No Comments  Comments
    In the latest gold and silver commitment of traders (COT) report (click here for an explanation of what this report involves), paper players made big strides in bringing the market back into balance — and setting the stage for an eventual rebound. Speculators – who tend to be emotional and there...
  • Great News For Gold Bugs: The COT Report Is Playing O...
    By on October 19, 2016 | No Comments  Comments
    This year’s recovery in precious metals prices – and the sudden spike in gold/silver mining stocks – convinced a lot of people that a new bull market had begun. Last week’s brutal smack-down scared the hell out of many of the same folks. The latest commitment of traders (COT) report implies ...
  • Can You Imagine The Fed Raising Rates In This World?....
    By on October 11, 2016 | No Comments  Comments
    I know it’s bad form to express sympathy for the people running the world’s central banks. But come on, they’re human beings in an impossible spot with no idea how to escape. The pain they feel is both intense and legitimate, and we should respond with at least a bit of empathy. Just kidding....
  • Here’s How Europe Implodes – Part 1: Italian ...
    By on September 30, 2016 | No Comments  Comments
    The “whatever it takes” economy is progressing nicely around the world, with governments and central banks doing things that no 20th century economist would have viewed as possible, let alone wise. Now the question becomes, where does this process hit the wall first? Based on recent events, Euro...

Advertisement

Real Time Web Analytics