Authored by EconomicPrism's MN Gordon, annotated by Acting-Man's Pater Tenebrarum,
Flowing Toward the Great Depression
All remaining doubts concerning the place the U.S. economy and its tangled web of international credits and debts is headed were clarified this week. On Monday, Mark Yusko, CIO of Morgan Creek Capital Management, told CNBC that:
Following May's disappointing MoM collapse in industrial production growth, economists had hoped for a modest 0.3% rebound and were pleasantly surprised with 0.4% gain in June (and upward revision for May).
However, year-over-year growth in industrial production slowed from +2.1% to +2.0% YoY - its first slowdown since January.
It was another painfully low-volume overnight session, which however did not prevent global stocks from hitting another record highs, capping their best week in over two months as the dollar stayed close to nine-month lows following Yellen's dovish retreat in which she noted caution on persistently low inflation (hence today's CPI print will be especially important) as odds of future rate hikes in 2017 and 2018 dropped.
Authored by Steve St.Angelo via SRSroccoReport.com,
There are four interesting developments taking place in the gold and silver market that precious metals investors should be aware of. While Americans continue to place all the bets in the casino called Wall Street, via stocks, bonds and real estate, the Easthas been acquiring record amounts of gold and silver. Furthermore, something interesting seems to have changed recently in the Silver Eagle sales market.
Did Janet Yellen really reverse so fast?