Sunday, July 6, 2014
Some Sunday reading
I don't normally pass on Sunday links, and it's to the chicken-and-egg point where I dunno if blog traffic disappears on weekends because of it, or if instead I haven't bothered posting cos there's no weekend traffic. But here's some stuff:
New Deal Demoncrat - weekly indicators. Still no crash coming.
Reformed Borker (Bork Bork Bork!) - fun with stock market hysteria. Where he has a laugh at financial media click-whoring.
The Atlantic - the misguided freak-out about basement-dwelling millenials. They're not living in basements - they're actually at university, which is counted as a "basement" for the purpose of the survey. Considering the jobs being created in the US are higher-paying ones, these kids will be making good money once they graduate.
Mining.com - BP hikes iron ore supply to destroy rivals. I remember a few years ago hearing an iron CEO say "we can produce iron at a profit at $30, we're not worried". So now a bunch of Chinese iron mines will be shut down.
Economic Geologist - Randgold CEO says "all-in sustaining cost" is bullshit. Also, the gold mining industry can't exist at $1300; therefore gold won't stay at $1300. I mean, look at scrap numbers - when has there ever been a time (in the modern era) when all physical gold on the market came from scrap? Therefore mines need to operate, therefore the price has to go up.