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Cry Me a River: The Next Stock Market Bust

Posted on January 15, 2015

By Elizabeth MacDonald In considering this aging bull market, some sobering facts from John P. Hussman, Ph.D., of the Hussman Funds: “Recall that the 2000-2002 [market] collapse wiped out the entire total return of the S&P 500 in excess of Treasury bill returns, all the way back to May 1996.” Hussman adds: “The 2007-2009 collapse […]

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Copper Falls, Stocks Fall

Written by Gary North on January 14, 2015


Of all commodities, copper’s price is the favorite indicator of how well the economy is doing. If demand is falling now, manufacturing is heading for the skids. Demand is falling now. Yesterday, the Dow Jones Industrial Average opened up by over 200 points. Later in the day, copper fell a startling 6%. The DJIA closed […]

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Oil Patch Bust — The Leveraged Disaster Has Begun.

Posted on January 6, 2015

By Harris Kupperman What is the senior debt on a shale play that needs $100 oil to be profitable worth? With oil at $51, it’s worth roughly zero. What is the equity worth? Even less. What is the junk debt worth? Somewhere in the middle. The first epiphany in the shale patch will soon be […]

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Bubbles, Boobs, and Bentleys: “Let’s Party!”

Posted on January 5, 2015

The 2008 recession hit strip clubs hard initially, but the industry made adjustments to survive and to capitalize when the economy picked up. For example, Sapphire Gentlemen’s Club runs a party called SINS every Sunday night. According to SINS promoter Ruben Aranata, “Initially we started SINS as a collaborative experiment of NY nightlife/club meet gentleman’s […]

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$72 Million High School Student — Fake

Written by Gary North on December 16, 2014


The story was everywhere this week. A high school student made $72 million in stock market trading. The minute I read it, I knew it was impossible. Without leverage in the futures market, it’s impossible. There is not enough time if you’re a teenager to pull off a Buffett, even if you were Buffett. A […]

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Dumb Money: “Buy an S&P 500 Index Fund and Hold”

Written by Gary North on November 21, 2014


The S&P 500 closed at 1527 on March 24, 2000. (Intraday high: 1553) Go to the Bureau of Labor Statistics’ inflation calculator. It is here.  Type in 1527 into the box. Select 2000.  Click “Calculate.”  This number appears: 2105.  That is where the S&P 500 should be to compensate for price inflation. This is break-even, […]

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Stock Markets Need to Check into the Betty Ford Center

Posted on October 18, 2014


From The Financial Times: The interventions of the central bankers “smells of a co-ordinated attack to help boost declining sentiment”, said Adrian Miller, director of fixed-income strategy at GMP Securities. “Markets need to check into the Betty Ford Center and go into rehab, to wean themselves off this addiction to central bank support. If that […]

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No More Traders on the NYSE’s Floor

Written by Gary North on October 2, 2014


MarketWatch ran an article promising never to have another photo of traders on the New York Stock Exchange. There is a reason for this: there aren’t any. Well, there are a few. But most of them are gone. They have been replaced by algorithms. What has happened to the commodity trading pits has happened to […]

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