Silver plops + or - a % daily as winds blow, as this week FOMC Notes show a conflicted FOMC tempered by Yellen's QE infinity speech ("blunt instruments" and MBS bond buying)-- trickle down, which business hasn't bothered to trickle on unemployment much, a fiction that hasn't been economic reality since the pill killed population growth. (Hence population is growing only if we import furriners). Inflation lies will come in low, altho reality is, my COSTCO shirts and pants have jumped two bucks or ten percent over last year, (it's back to TJ MAX and Marshalls, where $7-9 shirts are just $9-$12, better than Walmart nation). I expect existing home sales to reflect winter doldrums for months, and the S and P and Russell 2000 to claw upward. It's bubblecious.
Date Time (ET) Statistic For Actual Briefing Forecast Market Expects Prior Revised From
Nov 18 9:00 AM Net Long-Term TIC Flows Sep - NA NA -$8.9M -
Nov 18 10:00 AM NAHB Housing Market Index Nov - 53 55 55 -
Nov 19 8:30 AM Employment Cost Index Q3 - 0.5% 0.5% 0.5% -
Nov 20 7:00 AM MBA Mortgage Index 11/16 - NA NA -1.8% -
Nov 20 8:30 AM Retail Sales Oct - 0.3% 0.1% -0.1% -
Nov 20 8:30 AM Retail Sales ex-auto Oct - 0.4% 0.1% 0.4% -
Nov 20 8:30 AM CPI Oct - 0.0% 0.0% 0.2% -
Nov 20 8:30 AM Core CPI Oct - 0.1% 0.2% 0.1% -
Nov 20 10:00 AM Existing Home Sales Oct - 4.95M 5.20M 5.29M -
Nov 20 10:00 AM Business Inventories Sep - 0.0% 0.4% 0.3% -
Nov 20 10:30 AM Crude Inventories 11/16 - NA NA 2.640M -
Nov 20 2:00 PM FOMC Minutes 10/30 - - - - -
Nov 21 8:30 AM Initial Claims 11/16 - 335K 333K 339K -
Nov 21 8:30 AM Continuing Claims 11/09 - 2875K 2863K 2874K -
Nov 21 8:30 AM PPI Oct - 0.0% -0.2% -0.1% -
Nov 21 8:30 AM Core PPI Oct - 0.1% 0.1% 0.1% -
Nov 21 10:00 AM Philadelphia Fed Nov - 5.0 11.9 19.8 -
Nov 21 10:00 AM Leading Indicators Oct - NA NA 0.7% -
Nov 21 10:30 AM Natural Gas Inventories 11/16 - NA NA 20 bcf -
Nov 22 10:00 AM JOLTS - Job Openings Sep - NA NA 3.883
Not much news on Friday, jobless claims yesterday sunk 21,000--but there was a four day week in there, and
newbies outnumber existing so the net is still minus IMHO. We don't know why the market soared because the numbers looked better at headline level, or because the numbers when you look deep show inclination the Fed shouldn't taper because there is still rot at the base of this recovery.
I suspect both groups reentered the market in droves, and that is what caused the near 2% runup in the Russell. I also suspect that is why altho silver was up, SLW was down.
I saw how that worked.
Jobs came in good today? Did anybody notice what season of the year it is? Oh, never mind, here we go over 16K in the Dow.
Can you hear me Yellen now?
Which will bring us to tomorrow, when folks will remember that this is one more reason for the Fed to make the mistake of starting tapering, our long awaited "correction" according to yahoo, which hasn't mentioned a fall back in YEARS.
Latest bubble talk notwithstanding.
We're in the perform high promise low stage again, today we're chockablock with retail sales which should be good for cars, and muted seasonally for homes at 10AM EST--the big deal is the confused mess that will come out of Fed meeting notes last month, in which the Fed govt "shutdown" will loom unknown, when we all have come to know, it didn't amount to much, except whizz off enough Virginians sitting on their butts to vote MacAuffaloonie into office, a Dem.
Venezuela reported planning to pawn its gold through Goldman Sachs
The Venezuela newspaper El Nacional, the voice of that tortured country's political opposition, reports today in the story appended here that, after triumphantly repatriating its gold reserves two years ago, Venezuela has sunk so much economically under its predatory socialist regime that it will raise cash by pawning its gold through Goldman Sachs.
That gold almost surely will be delivered by Goldman Sachs to the use of the Western central bank gold price suppression scheme.
Presumably Venezuela's friend China could have bid directly for the gold and apparently didn't, maybe suggesting that China may be glad of the resulting discounting of gold on the international market, especially since the Venezuelan gold well may end up in Beijing anyway after nicely knocking prices down in its travels.
Ive noticed CNBC which is the tool of the Wall Street shysters is running their talking heads over every negative regarding Tesla ( must be that the big guys Ford-GM making cars are getting worried ) and now running headlines about a market bubble etc. Big guys must be shorting the market on the sly. Wonder if the banks are still aquiring physical gold. Hummm
ICAHN says the market is built on low irates, and perish forbid, they be raised, and the market panics???? HUH?? He need your cheap shares? What BULLTSCHIT! Typical Cramer like move, fan the flames of discontent where none exists, and won't for the NEXT THREE YEARS until this REAL ESTATE DRIVEN DEPRESSION reflates to 7/2007 prices, about 25% from now.....to get rid of the forgotten derivative overhang Bernookie neatly took off the books.....
Why do you think Yellen is being shoo'd in as Fed Chief? GAD people are dumb.
Yellen raise mortgage rates in the middle of next year's real estate buying season? Gimme a phoockin break!!!
Most telling comment during the Yellen confirmation? Senator: "Just mentioning tapering caused the markets to swoon, and interest rates to soar one percent". Yellen "That's why we need robust growth".
Translation: That's why it's bond buying and QE forever--high paying jobs are going overseas, and if you haven't got your pot already (a 401K vested in Russell 2000 and S and P) new workers will be outdistanced by their forebears in perpetuity. Meaning, NOBODY will believe you can fix unemployment by having everyone work for $9 an hour at Walmart, PART TIME no less.
As to looking at housing for a semblance of "prosperity", that is so 1946. Look to automobiles instead, unless builders want to squeeze their 100% markups, or offer those $25,000 finished basements as freebies (they cost about $3500 to finish) don't look to new housing this spring to get us moving 1946 style.