By the SRSrocco Report,
According to newly uncovered information in the gold market, it provides additional evidence of why the Fed, Central Banks and the IMF were forced to RIG the gold market. Not only was the dropping of the Gold-Dollar peg going to release a great deal of pressure on the manipulated gold price, but forecasts of a massive increase in gold demand was going to totally overwhelm supply.
Great news America - After soaring to the highest price in three years, wholesale prices for pork bellies, the cut used for making bacon, are heading for a 25% loss over two weeks.
As Bloomberg notes, increased demand had more than doubled prices since August, but now bellies are so expensive that the high costs are stemming demand, according to David Kruse, president of Commstock Investments Inc.
Via MN Gordon of EconomicPrism.com,
“We have assembled a best-in-class team of policy advisors to drive President Trump’s bold plan for job creation and economic growth.” Gary Cohn, Chief Economic Advisor to President Trump
Promises of Slop
Experian recently released their Q4 2016 Automotive Finance Market update which includes a lot of statistics that seem to confirm our frequently documented concerns about the sustainability of the current level of annual auto sales (see here, here and here for our recent notes on the topic).
First, there is the staggering growth of auto loans outstanding. It should be readily apparent to almost anyone that a 21% expansion in credit issuance over the course of just two years likely implies there has been at least some degradation in underwriting standards.
Not The Onion...
On the week when The Dow crossed above 21,000 amid multi-year highs in retail equity inflows, none other than Mike Tyson reminded us with a tweet of how these runs always end.
Launched last year, Mike Tyson's retail brokerage firm Trade12.com allows up to 400x leverage on FX, commodities and futures on stocks... and don't worry there are plenty of education tools.