Tim Knight from Slope of Hope's blog
I would like to make my own modest effort to put to rest a trite little phrase that gets trotted out every time silver and gold are getting trashed.
All the comparisons to 2000 seemed a little far-fetched.........until today.
The past six years have transformed my disposition toward the markets from excitement to frustration to despair to disillusionment to sheer tedium.
Just got this in my email, and if this isn't a sign of a top, I don't know what is.
In 2007 we see another dive in correlation as the last high close occurs and fades away. We are again seeing a violation of the sub-60 area.
What's that? It sounds just like Starbucks, Peet's, or any other coffee place on the planet? Yeah, well, I guess you have a point there. But there's a big difference: you have to pay to sit down.
Perhaps, as in 2008, commodities are a very large canary in a very crowded coalmine. I am highly confident Mr. Stockman's prediction about North Dakota is going to come all too true.
I was always a little curious how much my fair city was spending on these guys, who basically sit on plastic chairs and stare into space all day.
"Oh, he's there to make sure high school kids don't jump in front of a train to kill themselves", I would reply. And you, assuming you come from a place that isn't insane, would be puzzled and appalled at my answer.
A mere 70 million people will have more wealth than 6.93 billion. Thanks, banksters!
Remember, years ago, when the markets were a mechanism for honest price discovery and a gathering place for buyers and sellers to participate in open, unvarnished capitalism?
Believe it or not, I was much more interested in these ads from 1978, and they are a study.
And yet on Friday morning, the solution came to me in a shot. And, as with most good solutions, it comes from no less a place than Star Trek: The Original Series. Hear all now my idea:
For now, they've failed............but the fact that this watering-down was even considered is something I find sickening.
Here is the third and final part of my retrospective with links to what I believe are the best posts of 2014 at Slope of Hope: