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American consumer spending is a funny thing. For years, throughout much of the 00’s, we watched in amazements as the US consumer went on the greatest spending binge in the history of Planet Earth. First, we spent all the money we had. Then, we spent all the money we didn’t have. We borrowed against our […]
It’s been a little bit since we checked in on what Dennis Gartman has to say about the economy and markets – so let’s get his outlook. Here’s a 5 minute CNBC clip of Gartman weighing in on the taxation policies in Europe and the US. He subscribes to Art Laffer’s supply side tax theory […]
Despite the Fed’s money printing (errr, quantitative easing) efforts, inflation is not in the cards yet, according to the M1 Money Multiplier. MULT, as it’s affectionately called, still sits below the magic 1.0 level – and as long as it flounders there, we are unlikely to see inflation, no matter what the Fed does. Because, […]
GoldAlert.com reports that bullish sentiment towards gold prices has hit its lowest levels in 19 months: Bullish sentiment toward the gold price continues to drop, evidenced by the current 60% Market Vane Bullish Consensus reading on gold. This is the lowest level since December 9, 2008 – a few weeks after the gold price plunged […]
In Jeremy Grantham’s latest quarterly newsletter (which is always a must-read, IMHO), he says he’s throwing his hat in the deflation camp for the near future, at least: Well, I, for one, am more or less willing to throw in the towel on behalf of Inflation. For the near future at least, his adversary in […]
On Thursday I was en route to Montreal for a wedding, and as luck would have it, I received a phone call from Martin Mittelstaedt from Canada’s Globe and Mail. Martin was working on a story about deflation investing for Saturday’s globe – a very well-timed piece given the latest CPI numbers, and Friday’s slaughter […]
Since the stock market put in a short term bottom a couple of weeks ago (thanks to overwhelming pessimism), the mini-rally since has been a one-way street UP – until today. This has been the trend of the market since about 2003 or so – it’s either up for many consecutive time periods (like 2003-2007, […]
Real nice post by Mish Shedlock over on his always excellent blog entitled Are we “Trending Towards Deflation” or in It? I know many readers share my view on the inflation/deflation debate – namely that because we have a credit based economy, the Fed is relatively powerless to stop inflation. If that’s your take, then […]
This headline is starting to become a recurring theme. US consumer credit is in freefall – because, as we all know, the American consumer is FLAT BROKE! BusinessWeek reports: Consumer borrowing in the U.S. dropped in May more than forecast, a sign Americans are less willing to take on debt without an improvement in the […]
Courtesy of Pragmatic Capitalism: Is there a debt problem in the United States? You better believe it. But it’s not debt problem everyone is panicking over (the government deficit). It’s at the private sector level. This classic balance sheet recession has consumers saddled with debt. Peter Cecchini, chief strategist at BGC Financial LP says there […]
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