Michigan is making up for the unusually warm weather we’ve received this winter by dousing us into zero degree temperatures. Detroit was on emergency patrol yesterday, trying to shepherd as many of the homeless as possible into shelters, to avoid them freezing to death.
The markets are churning a little here. But I am loath to give lip service to the sort of unfounded pessimism that is gripping the cowards of Twitter. Believe the rumors of broken-ness and impending reversal to your own grave misfortune. Because we have higher yet to go.
I am pressing my luck and bets. RGR is selling off, but the stock was up 33% in a month. My other down position is CCJ, which is experiencing the typical terror-burdens that grip its share price at least once per 3-6 month run.
Precious metals continue to rebound, and are setting up for the next grand phase, in my opinion. This much currency manipulation will inevitably lead to long strides in the metals, particularly if things don’t break down. The recent “Gold Bug Bashing” we paid spectacle to in December is an annual tradition of sorts – not unlike a classic European festival. It happens every year, led by clowns and street performers. Not the kind of people you ever bother to consult with outside. Precious metal investors have been well vindicated in their thesis over the last 20 years – it’s not like that will be stopping now that the printing presses are stepping into high gear.
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Cain,
I get your point on precious metals in regards to gold. It’s held up pretty well all things considered. But if you look at previous bubbles, silver sure looks like it’s in a typical post bubble dead money phase. Parabolic, crash, dead for years.
That being said, most bubbles initially lose more than 50% of their value.
It’s going to be difficult for silver to be dead for years with $80 billion a month in free money.
Dare I say, let the homeless fend for themselves!
Well chosen outdoor places in the city can be 10 to 15 degrees warmer, not just the well known grates. Homeless would not be permitted in the parking garage where I work, but it is about 10 degrees warmer, because of the building heat. Interestingly, a layer of snow is a good thing, over an occupied cardboard box or car, because it provides insulation.
Detroit’s steam system grants the homeless a boon of free “no die” heat. The only problem being that if you drive through one of those vapor clouds in the middle of the road, you’re eligible to kill one of them.
How lucky and fortunate of them to receive parking lot accommodations and steam.
In NYC, we offer them methane gas and heavy doses of carbon monoxide to sedate them prior to death.