Sunday, December 1, 2013

A bit of Sunday news

Here's a bit of weekend reading for you:

New Deal Democrat - US weekly economic indicators are still positive. So growth will continue.

Calculated Risk - inflation rate is key to a December taper decision. He points out the market has already discounted the possibility of a December taper. I wonder if the language in the Fed announcement, even if in agreement with this estimation, could still cause the market to barf for a couple days?

Calculated Risk - EZ unemployment falls slightly. So you're at the bottom of the cycle with no sign of new crisis, so at some point it becomes a good idea to pour money into European equities. Then again, I guess that's already been going on this year.

der Spargel - corruption and poverty cause India to fall behind. Some background for next spring's election. - Indian families could recycle 400 tons of gold this year. Which would be doom for the gold price. Of course, this shocking assertion about the massive change in gold recycling originates from a report in an Indian news website about the assertion of a guy who owns a gold shop in a bazaar. So I'm sorry, but I'll believe this recycling story when it's confirmed by GFMS and the WGC. Message to Frik Els: stop using crappy sources for your news reports.

WaPo - SEC ups efforts to combat manipulations of micro-cap stocks. Via IKN. Yeah Otto, and that's nice and all. But the problem is, at least when it comes to gold and silver pumps, that junior mining scams are usually run by people associated with the Republican Party. The frauds usually use the mailing lists from the Tea Party or the various "Family"-related right-wing organizations, and they combine that with a goldbug narrative of imminent societal collapse. So I don't think it's likely that any SEC enforcement will actually hit the important and powerful.

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