Right in the source code for the Obamacare website is the statement "You have no reasonable expectation of privacy regarding any communication of data transiting or stored on this information system".
Dr. Lacy Hunt is a fierce critic of current Fed policy, claiming that the Fed is operating on a flawed model that is not only building future instability into the market, but also helping to further the wealth divide. Here we present a few comments from his recent interview.
The ’80s and '90s were extremely frustrating and unprofitable times for gold investors, yours included. Time after time, year after year, we thought gold was finally getting something going on the upside with never-ending promises of financial doom.
For months, the American public has received a steady stream of new information detailing the massive scale and scope of the United States’ spying activities. Of course, maintaining a surveillance state powerful enough to reach into the inboxes of world leaders, friend and foe, is not cheap.
In our view, the main driver for gold’s “surprising weakness” has been liquidation and capitulation out of gold as an investment vehicle. It is true that sharply declining real bond yields, EMU tensions and a rising equity risk premium all combined to help gold from early 2009 until mid-2011.
No wonder investors don't take economists seriously. Or if they do, they shouldn't. Since Richard Nixon interrupted Hoss and Little Joe on a Sunday night in August 1971, it's been one boom and bust after another. But don't tell that to the latest Nobel Prize co-winner, Eugene Fama, the founder of the efficient-market hypothesis.
The markets rallied this week with the bright spot being the Dow Transports, which were up 2.82% this week with strong performances from the railroads and carriers. Earnings overall have come in ahead of expectations with 76% of companies beating earnings and showing an average positive surprise of 4.87%.
If we want to get a read on the longer-term aggregate battle between confidence in the economy/Fed/stocks relative to concerns about the economy/Fed/stocks, we can use...