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A Large Order of Carnage. Hold the Mao.

Posted on March 3, 2015

By David Stockman It is almost certain now that we are at the threshold of crossing the Rubicon which will result in a crackup of the EU and the euro.  There are just too many centrifugal forces blowing apart this experiment, which was misbegotten from the very beginning. That will then catalyze a thundering global […]

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S&P 500 Breaks Even After 14 Years, 11 Months

Written by Gary North on February 18, 2015

The suckers who did not sell the S&P 500 on March 24, 2000 broke even yesterday: February 17. It closed at 2100. On March 24, 2000, the S&P 500 peaked in terms of purchasing power. It closed at 1527. Go to the inflation calculator of the Bureau of Labor Statistics.  It is here. Type in […]

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Shiller’s Warning: Crash Ahead

Written by Gary North on February 16, 2015

The news on the investment front is not good. Nobel Prize-winning economist Robert Shiller has a grim message for investors: Save up, because in the years ahead, assets aren’t going to give you the type of returns that you’ve become accustomed to. In his third edition of “Irrational Exuberance,” which will drop later this month, […]

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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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