Monday, January 30, 2012
Reflecting on Sunnier times
By James Delingpole There's a great piece by David Rose in the Mail On Sunday nicely summing up what a lot of us here knew already: that the thing we really need to fear right now is not global warming but global cooling. And that, on current evidence, it's global cooling we're going to get.
The supposed ‘consensus’ on man-made global warming is facing an inconvenient challenge after the release of new temperature data showing the planet has not warmed for the past 15 years.
The figures suggest that we could even be heading for a mini ice age to rival the 70-year temperature drop that saw frost fairs held on the Thames in the 17th Century.
Based on readings from more than 30,000 measuring stations, the data was issued last week without fanfare by the Met Office and the University of East Anglia Climatic Research Unit. It confirms that the rising trend in world temperatures ended in 1997. Rose's piece comes hot on the heels of an op-ed in the Wall Street Journal signed by 16 distinguished scientists (proper ones: not "climate" "scientists") noting the continuing absence of ManBearPig.
Read more
Pretend Money
Pity they haven't arrested Ben Bernanke for also producing high quality notes pretending to be money.
"Paper is poverty,… it is only the ghost of money, and not money itself" ~ Thomas Jefferson 1788
Jan 26, 2012 by Euronews
"Paper is poverty,… it is only the ghost of money, and not money itself" ~ Thomas Jefferson 1788
Jan 26, 2012 by Euronews
BDI continues to plunge
As mentioned in this earlier post the BDI (Baltic Dry Index) is currently plunging, and has in fact fallen another 20% in last week. I have seen bricks with greater aerodynamics than this index. This is not looking good for any global recovery in the near term.
Sunday, January 29, 2012
Doug Casey talks to James Turk
I have posted this interview before, but if you missed it Doug Casey's thoughts are a very deep and wide ranging, and a excellent primer for what awaits us over the next few years.
| Nov 11, 2011
| Nov 11, 2011
Juan Ramón Rallo and Alasdair Macleod talk about the Spanish economy, gold and silver
GoldMoneyNews on Jan 23, 2012
In this video Juan Ramón Rallo, economist and university professor in Madrid, and Alasdair Macleod of the GoldMoney Foundation talk about the Spanish economy, gold and silver.
News Analysis reviews the American Awakening
PressTVGlobalNews on Jan 28, 2012
This edition of News Analysis reviews the American Awakening and the US protests.
David Frost interviews Mohamed El Erian
Top interview with Mohamed El Erian (PIMCO CEO), unfortunately it is followed by a poor interview with a US political hack, but that is what the pause button is for.
AlJazeeraEnglish on Jan 28, 2012
John Embry - Gold, China and Quantitative easing to infinity
The Silver Singularity Is Near
Price, as they say, is determined on the margins. This is especially true for inelastic goods. If 100 Tickle Me Elmo dolls exist in Walmart on Christmas eve, and 100 people absolutely need to have them, you don't have a problem. The price will be some reasonable markup on the cost of production. However, if one more person walks in fearing the wrath of his child if there's no Elmo under the tree, Walmart ( WMT ) can quickly turn into a war zone. In Walmart, this supply shortage might be settled by shoving and hair pulling. In a civilized market, this supply, demand inequity is settled with price. In the case of Elmo in 1996, some dolls were reportedly sold in aftermarkets for $1500.
This is an important concept to keep in mind when evaluating the silver market. Silver is interesting because it is actually two different markets. On one hand, silver is a physical commodity that is used in industry or warehoused as physical savings. This market is rather inelastic on the supply and demand side as I will discuss in a bit. On the other hand is the silver derivatives market, paper contracts for silver, that set the spot price on the margins. The paper market is elastic and depends more on investor psychology than underlying fundamentals.
Read more: http://community.nasdaq.com/News/2012-01/the-silver-singularity-is-near.aspx?storyid=117209#ixzz1knqtOcEn
Keiser Report: State Of The Banana
RussiaToday on Jan 28, 2012
In this episode, Max Keiser and co-host, Stacy Herbert, discuss the State of the Banana Republic, the blowout at Apple with its profits 'trapped' overseas and the gloomy State of the Stiff Upper Lip as UK family debts soar by nearly 50%. And, finally, Max and Stacy examine a proposal that bankers, like Goldman Sachs' Lloyd Blankfein and JP Morgan's Jamie Dimon, should compete like strippers on the open job market.
In this episode, Max Keiser and co-host, Stacy Herbert, discuss the State of the Banana Republic, the blowout at Apple with its profits 'trapped' overseas and the gloomy State of the Stiff Upper Lip as UK family debts soar by nearly 50%. And, finally, Max and Stacy examine a proposal that bankers, like Goldman Sachs' Lloyd Blankfein and JP Morgan's Jamie Dimon, should compete like strippers on the open job market.
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