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US households continue to shed debt at a record pace – this graph says it all… US households are finally “just saying no” to debt. To put this breakdown in perspective – the Fed’s data on this goes back to 1976, and household debt grew every single year until 2009. In fact, we’re looking at […]
Many – including me – think that 2010 will be a pivotal year in the inflation/deflation saga. And while I hopped over to the deflationist “dark side” almost a year ago, I try to stay very tuned into the inflation scenario, to continually check my thinking on the subject. It’s OK to be wrong…I just […]
Our hero Jim Rogers has been back in the news quite a bit recently – here’s his latest thoughts: He sees gold heading north of $2,000 in the next decade Ben Bernanke should (still) close the Federal Reserve, then resign He likes the Japanese Yen best at the moment of the currencies, but wouldn’t buy […]
I think we’re at a key inflection point in the financial markets at this juncture. The direction that things head next could decide the winner, at least for the next few years, of the inflation vs. deflation battle. So I spent the morning revisiting and rereading many of my favorite arguments from both sides of […]
According to the Associated Press, Colorado will become the first state to reduce its minimum wage due to a “falling cost of living.” Colorado is one of 10 states where the minimum wage is tied to inflation. The indexing is thought to protect low-wage workers from having flat wages as the cost of living goes […]
To say that consumer credit is contracting in the United States may be a bit of an understatement! Can you spot the trend in consumer credit? Contracting credit is the crux of Robert Prechter’s deflationary thesis – something we’ve been discussing at length in this space. How about another haiku to summarize? Credit’s going poof […]
The New York Mets announced today that they will be cutting season ticket prices by at least 10%, according to ESPN.com. “The Mets are sensitive to the economic realities facing our fans and we have lowered our ticket prices in response to these challenging conditions,” Mets executive vice president Dave Howard said. “This move underscores […]
Here’s a good one with Marc Faber and Jim Puplava on the Financial Sense Newshour: http://www.netcastdaily.com/broadcast/fsn2009-0919-3b.mp3 The topic is – surprise, surprise – inflation/deflation. Faber used to be a deflationist – his book Tomorrow’s Gold is written in that perspective – and at some point, he found Fed Religion. I think Faber is fantastic, and […]
As financial pundits and common investors breath collective sighs of relief that “the worst is over” and “the bull is back”, let’s explore the possibility that 2009 may be following a script that was originally penned in 1930. After the initial crash in 1929, the markets staged a powerful rally that retraced 60% of these […]
Interesting times in the markets. US equities have now completed a standard fare “Fibonacci retracement” off of the March 6 lows. Now, where to from here? Bulls and bears alike conceded that a strong rally was quite probable. Now that it’s happened, what can we expect? There seem to be two or three prevailing market […]
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