The Dow Jones Industrial Average closed at a new 52-week high yesterday — with little fanfare. While the Dow Jones Transports and the S&P 500 are close behind, the Nasdaq Composite and the Russell 2000 are still well below their previous 52-week highs.
Two years ago, the big worry in the global markets was the possibility that Greece would opt to leave the Euro, which in turn, would set off a chain reaction, in which Portugal, Ireland, Greece, Spain, and Italy might also choose to do the same.
Jim Rickards explains how global leaders are attempting to solve current financial and economic problems by inflating away debt, keeping interest rates low, and moving global monetary policy over to the IMF with SDRs as the next global reserve currency.
The markets have made virtually no progress this year as momentum has stalled. The number one question is whether stocks are taking a breather before heading higher or setting up for a larger decline. Looking at 52-week highs and lows suggests a consolidation and looking at the NASDAQ shows...
Back in September 2013, I was calling attention to the liquidity problems to which bond-related closed end funds (CEFs) were alerting us. The financial markets got over those liquidity problems, and now the message is that liquidity is very strong. The stock market should be the ongoing beneficiary of that strong liquidity, for as long as it lasts.
The case for the ECB to print later this year is growing by the day with opposition such as Bundesbank chief Jens Weidmann falling by the wayside. While the ECB ramping up the printing presses would be bullish for risk assets, we have to remember that we saw widespread market weakness before the ECB stepped in previously...
In his recent interview, internationally recognized financial expert Satyajit Das said that China won't suffer a hard landing, but instead go through a long and slow zombification, much like Japan and other fast growing economies of the past. He also says that globalization has peaked, with global growth lowest since the fall of the Berlin Wall.
Two of the largest mining operations in the world happen to lie right next to each other, just south of Salt Lake City, Utah. The resources mined in each location are so deep and scattered on so vast a scale that their extraction requires the use of extremely large and powerful machinery.