BI - prepare for the gold production cliff. It's a summary of the National Bank Financial writeup that's been making the rounds, which basically summarizes what Brent Cook's been saying for the past couple years now. And of course they run this article after running that utter bullshit from Credit Suisse about how gold is only going down from here.
Mining.com - a video interview with the CEO of Finning, on mining in LatAm. Probably more informative than newsletter writer crap, cos this guy actually works in the industry.
BI - Krugman on Japan. He says that in some cases a central bank has to look irresponsible, to generate fear of inflation and drive people out of security and into productive investment. Almost as if you have to look responsible to rein in inflation, and irresponsible to exterminate deflation? Interesting idea.
Reformed Borker (Bork! Bork! Bork!) - you can't have it both ways. Very perceptive from Josh - almost as if he's finally got his bullshit detector back up and running. In fact, let me quote the entirety of it to you:
The same people who've spent three years growling about low volume and lack of participation being bearish are now saying that the reversal of that is also bearish. You can't have it both ways.
The argument was that no one is in this market except central banks and hedge funds, there are no real investors left so eventually this will collapse. There's no one to come in and buy, mom and pop are tapped out, etc.
This was a reason to run away from equities and batten down the hatches.
Now the retail investor is returning. People are starting to talk about stocks and their portfolios again. The Dow's new all-time high, god willing, is about to be on the cover of every local newspaper in the country, quite possibly the talk of the mainstream media and non-financial news shows.
The hollowness and "lack of participation" that you've complained about for 7000 Dow points now is beginning to change. People who've abandoned the market are coming back. After five years in the no-interest bonds and savings bank wilderness.
And this, you tell us, is also bad.