President Obama talks about his belief that a rising, thriving middle class is the true engine of economic growth, and that to reignite that engine and continue to build on the progress we’ve made over the last four years, we need to invest in three areas: jobs, skills and opportunity.
From the Metals and Minerals Investment Conference Hour 1 : Hour 2: Great show this week originating from both our studio and the Metals and Minerals Conference...
The Price of Oil Is Impacting Monetary Policy. In this segment of the Big Picture, Jim looks at how the price of oil has affected the economy and growth over the past three years, and how his concept of the Petro Business Cycle looks like it will be the New Normal in the years ahead. He also references recent interviews with oil experts Dr. Robert Hirsch and Dr. Oliver Inderwildi who concurred with his analysis on the Petro Business Cycle. Jim also answers your Q-calls in this segment of the program.
Also, Forget a QE Exit Plan- Serial Money Printing Is the Wave of the Future The first Big Picture topic this week is Game of Thrones- the Dollar vs. Gold. Jim looks at the massive global currency debasement among central banks, and in that current game the dollar is king. Gold is in the background and not a major player. Jim believes this will not last, but for now the dollar is winning the game. The next topic, Forget a QE Exit Plan, Serial Money Printing is the Wave of the Future, Jim notes that 14 central banks around the world have cut interest rates, and are printing money with no exit strategy in sight. He notes that the next Fed Chairperson, widely assumed to be Janet Yellen, will make Ben Bernanke look conservative when it comes to money printing.
Also, Ryan with the Market Wrap-Up, Erik Townsend on Commodities, and Rob Bernard on Fixed Income. Ryan Puplava does double duty this week, giving his technical analysis on the markets as well as his weekly Market Wrap-up. Technically, Ryan sees a cyclical rotation of stocks into what he refers to as The Taper Trade, and out of more defensive stocks such as health care and utilities. Ryan is bullish on energy and copper as they are tied to more robust economic activity. Ryan also discusses bonds, gold and currencies. In addition, Erik Townsend looks at Commodities and Rob Bernard has the Fixed Income Report.
This Week in Barron's: Barron's looks at some big names that lagged in 2012 but are now poised for a comeback; Amateur star gazers can now view the heavens like a professional astronomer; A new report finds that of graduating college students the most popular major is business; Barnes & Noble's value could jump if rumors about another company buying it's Nook Business.
In the Webcast Extra: our panelists discuss progress in Congress to reform the immigration system. Also, why did the House Republicans vote to repeal Obamacare again this week? How is the shrinking budget deficit a “double-edged sword?” And why are Congressional Republicans holding up Obama’s cabinet nominees?
The latest on the three scandals dogging the Obama administration this week involving the IRS, the Justice Department, the Associated Press and the attack on the US embassy in Benghazi. How is the administration handling damage control? Joining Gwen: Gloria Borger, CNN; John Dickerson, Slate Magazine and CBS News; John Harwood, CNBC and the New York Times; Ed O’Keefe, Washington Post.
NECKER ISLAND, British Virgin Islands (AP) , Surrounded by a turquoise sea and a menagerie of exotic animals on a billionaire's private island, political and business leaders gathered Friday to back an initiative aimed at expanding protection for the Caribbean's imperiled coasts and waters.
NECKER ISLAND, British Virgin Islands (AP) , Surrounded by a turquoise sea and a menagerie of exotic animals on a billionaire's private island, political and business leaders gathered Friday to back an initiative aimed at expanding protection for the Caribbean's imperiled coasts and waters.
The Investor Alert is U.S. Global Investors' weekly newsletter featuring a brief, in-depth synopsis of the major movements in the world's markets. The commentaries are arranged in easy-to-follow SWOT format with each section examining the strengths and weaknesses of the current market, and the opportunities and threats that could affect future performance. To view additional detailed information, please visit www.usfunds.com. The Investor Alert is updated each Friday at 8 pm central standard time.
ELIZABETH, N.J. (AP) , Two cups of coffee ended life on the run for an Internet sensation known as Kai the hatchet-wielding hitchhiker. An employee at a Starbucks in Philadelphia is credited with...
Stocks continued their climb into uncharted territory on Friday, racking up the fourth week of gains in a row as encouraging economic data prompted investors to pick up shares of growth companies.
Poor data, again, late in the week couldn't get the market to stumble very much. Some, yes, but in a big way, no. We saw the number from the Philadelphia Fed come in below the zero level again after going green the prior month. Minus five, and change, showing their economy is in recession for the very short-term at least. On top of that, we then saw a huge increase in the jobless claims number. Thirty thousand bump up and well above expectations. The type of one-two punch that should knock the market down, but once again it did not, while the majority scratch their heads wondering why we all know the reasons by now. There’s nowhere else to go. Interest rates are too low and the liquidity machine on every day all day long. A lethal one-two punch the bears are not able to overcome at this point in time.
The bears obviously feel the angst of trying to take the market lower when no matter what news comes out, things try higher over time. The lesson being never short a bull market with any force and never go long in a bear market with the same type of force. Just follow the trend and, for now, the bears are sitting back as they just can't make any head way. Today was a microcosm of what's been ailing the bears. They get a nice move lower late in the day yesterday only to see the bulls jump right back in the saddle today. A good day for those bulls today as the overall up trend is firmly in place.
The commodity world, the SPDR Gold Shares (GLD) and iShares Silver Trust (SLV) world in particular and why not, throe in coal, are just acting horribly. So why the drop in those stocks if we have inflation? Someone asked me that today. The feds flooding of dollars is for the banks. If the banks can't get that money out to the right places, it doesn't add demand for those commodities in our country or the world for that matter. It appears the world is still struggling along meaning demand just really isn't there. These stocks struggle while the market finds bids elsewhere in our low rate environment. Sure, health care rises. That's not coal. You get the point. The answer is really simple. Inflation exists in the wrong places because the world economies still aren't rocking along. When they do, coal and some of the other dead commodity stocks will finally get rocking along with the rest of the stock market.
When bull markets make important breakouts they will get overbought. In some cases very overbought. That's always a red flag, for sure, but there's always the possibility of chasing performance by those who have been bearish or out of the market and, thus, overbought can stay that way for a very prolonged period of time. A lot longer than anyone, including yours truly, would think possible, which is why you always have to have some exposure on the long side. It doesn't mean you have to be fully exposed, but you do want some exposure at times like these.
You have also been prepared for selling, and some that may be a bit more intense than you'd like but the market is on breakout and, thus, you have to recognize that we may stay quite overbought for some time to come. As long as we stay above 1597 on the S&P 500 longer-term then you have the bull market still alive and kicking. Adjust accordingly. When you study the charts this evening, they are quite self-explanatory. Take the time to look them over and understand what's taking place. You may not agree with it, or honestly understand it, but the lesson is to never fight what you see, even if you think it's inappropriate. I think it is but I never fight it.
May 17 - Summary of business headlines: Jump in consumer sentiment, leading indicators propel Wall Street to fourth up week, Dow and S&P 500 at new heights; Jim Rogers sees correction in gold continuing. Conway G. Gittens reports.
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