April 28, 2013
Despite the heated rhetoric from the Obama administration and environmental groups about the urgency of global warming, climate scientists have begun to come to terms with the lack of evidence of catastrophic global warming over the last decade.
“While some climate scientists continue to resist the obvious that the climate system is more complex than they assumed, others are starting to accept that the multi-decadal climate projections [...]
Today’s AM fix was USD 1,674.50, EUR 1,234.88, and GBP 1,058.47 per ounce.
Yesterday’s AM fix was USD 1,666.25, EUR 1,230.70, and GBP 1,057.20 per ounce.
Silver is trading at $32.08/oz, €23.76/oz and £20.40/oz. Platinum is trading at $1,677.50/oz, palladium at $736.00/oz and rhodium at $1,200/oz.
Cross Currency Table – (Bloomberg)
Gold rose $13.80 or 0.83% in New York yesterday and closed at $1,676.50/oz. Silver slipped to a low of $31.24 in the [...]
Mark Lackey: Energy Stocks Could Deliver Stealth Profits
Source: Zig Lambo of The Energy Report (1/8/13)
In the midst of a global market lull, many companies are sitting on their hands, argues Mark Lackey of CHF Investor Relations. That’s why he’s scoping out smart management that’s keeping busy and making great progress—whether or not the markets are quick to notice. Learn who’s getting a running start in the uranium, oil and [...]
There comes a time in some men’s lives when the days seem darker, mortality more certain, and the only sensible response is to blow the life savings on a sportscar.
Radical and often ill-advised changes in lifestyle have become the calling cards of the midlife crisis, but if it is more than a myth, then humans may not be the only animals to experience it.
Now an international team of scientists [...]
Mario Draghi’s promise to do “whatever it takes” to save the euro never did look like inducing any more than a temporary lull in the storm; still less did the German Constitutional Court’s thumbs up to the European bail-out fund and the trouncing that eurosceptic parties received in the Dutch election.
Yet the eurozone crisis has sparked back into life more swiftly than even I would have anticipated, with the epicentre [...]
Optimism has seized stock markets in the past month on the back of better economic data in the United States and a late-summer lull in the euro crisis. Market volatility is at its lowest level in years.
BofA’s top economist Ethan Harris says investors shouldn’t be fooled in a pretty downbeat note to clients – he thinks the U.S. economy is “in the eye of the storm” right now.
Here is what Harris sees on [...]
A string of bomb attacks across Iraq killed at least 50 people on Monday and wounded 144 more, police and hospital sources said, in one of the bloodiest days in the past weeks.
Violence in Iraq has eased since the height of sectarian slaughter in 2006-2007, but insurgents still carry out deadly attacks, especially around the capital, and deadly car bombs on Sunday shattered a lull in violence in the lead-up [...]
As global companies draw up contingency plans for a Greek exit from the euro, we examine the feasibility of Athens’ departure – from new drachmas to illegality and €1 trillion costs.
By Alistair Osborne
It’s a tradition of Greek theatre that the real action takes place off-stage. Much the same might be said of the euro drama.
A second bailout and last week’s repayment of a €14.5bn (£12.1bn) bond has produced a dramatic lull [...]
by Brandon Smith from Alt-Market
Economic Alert: If You’re Not Worried Yet…You Should Be
For the past four years I have been covering the progression of the global economic crisis with an emphasis on the debilitating effects it has had on the American financial system. Only once before have I ever issued an economic alert, and this was at the onset of the very first credit downgrade in U.S. history by S&P. I [...]
We got two more pieces of the jobs picture this morning. Let’s look at them:
First, initial claims took a big dive last week, dropping 27,000 to 365,000. You can all breathe now. It’s not all sun and roses, of course. Last week’s initial claims were revised higher, as they are seemingly every week, to 392,000, a distressing number. The four-week average nudged up by 750 to 383,000, still too [...]
And so the latest Goldman recommendation to muppets is now officially a dud.
Closing our Long Russell recommendation with a modest potential loss
We are closing our long Russell 2000 recommendation with a modest potential loss, initiated on March 15 following the better-than-expected data in the first of the regional surveys. The recommendation was predicated on (i) still friendly, if not accelerating, US macro data, (ii) supportive monetary policy, and (iii) better [...]
OAKLAND — As anti-Wall Street protesters attempt to regroup and settle in for winter after a series of police raids that stripped much of the movement of its signature camps, protesters on the West Coast are staging a comeback.
On Dec. 12, Occupy movements from Seattle to San Diego say they will shut down their local ports, temporarily stopping the flow of capital on the West Coast. Organizers say they aim [...]
The View From Europe
We have unemployment at about 6.6 % which is decent, but baked into that is a very large amount of recent immigrants from Somalia and Iraq. We now have structural unemployment among these groups as they’ve discovered the wonders of the welfare state(and I don’t blame them, the work that awaits them is the lowest-rung in society and they usually don’t earn [...]
Europe’s banks are bracing for a fresh test this month: whether they can successfully sell unsecured bonds.
The region’s banks have sold less debt in total so far this quarter than in any comparable period going back to 1996 – when their financing needs were a fraction of their current levels.
Although US companies and banks have continued to tap the market through the summer, Europe’s [...]
After a brief lull, Alfred Little, whose track record in slaying Chinese fraudcaps is comparable to that of Muddy Waters (just recall the DEER in headlights), has released a report on what he believes is the latest Chinese publicly traded fraud: Sinotech Energy Limited (Nasdaq: CTE), where the catalyst is that its “largest customers and suppliers are likely nothing more than empty shells [...]
Ignoring a problem might bring temporary relief but ultimately a day of reckoning must occur. The underlying problems with housing have been swept under the rug for many years like dust trying to be ignored. Yet the dust is still there and it will ultimately need to be cleaned up. The housing market is simply in a temporary lull yet more troubles are ahead. Take for example [...]
1. The pool of potential buyers keeps shrinking as the costs and risks of home ownership in 95% of zip codes easily exceed the costs and risks of renting
2. As the effective purchasing power of a great majority of middle class Americans keeps declining AND the demand for living space per capita ,whether owned or rented, is falling faster than population growth
If we assume the euro lull last week was just a respite on a journey towards parity then we have to worry about the effect of the weakened euro on US companies with European operations. Some have already reduced profit forecasts to account for this.
Or it could be the sovereign debt crisis is working around the periphery and moving towards the center of the advanced economies. France, Britain and the [...]