Thursday, June 11, 2015

some news and insightful market commentary, now with less kittens

Reminder to votinate while you still have time!

Meanwhile, on a day when gold goes down by exactly as much as the US dollar goes up, someone decides to barf GDX.

That's okay.

On a day after two consecutive days of heavy buying of Dalradian, which is a dead giveaway that someone big has taken an interest, the stock still drifts back down because some day-trader douchenozzle wants to dump his 5000 shares at $0.97 instead of holding it for a $2.00 buyout.

That's less okay, but whatever.

Anyway, here's some news:

Calculated Risk - retail sales up 2.7% yoy. And, even better, retail & food service ex-gas is up 5.2% yoy. Know what that looks like to me? Growth.

WSJ RTE - where did all the construction workers go? Quote:
From April 2006 through January 2011, nearly 2.3 million construction jobs–more than 40%–were wiped out. As of last month, the sector was still more than 1.3 million jobs shy of its bubble-era peak.

But if workers are out there, builders can’t seem to find them.

“It is just more and more difficult to get talent,” said Clay Gordon, vice president and chief development officer at Nabholz Construction.
Well, maybe they realized that construction is a boom-and-bust industry, so they've decided to find jobs that actually survive downturns.

Of course, the US government could have retained these workers for the industry by, say, earmarking some stimulus spending for roadway construction and government buildings improvements from 2009 onward; but that's communism, right? So now all the construction companies are learning what it's like to do business in the almighty free market. Screw them, let them pay up for kids and spend a fortune training them.

Reuters - Greece's top court orders reversal of pension cuts. Well of course they do:
A top Greek court ruled on Wednesday that the government should reverse cuts to private sector pensions it made in 2012 as a condition of its bailout agreement with the European Union and IMF, court officials said.


The country's top administrative court, the Council of State, ruled that the 2012 cuts violated Greek law and the European Convention on Human Rights because they deprived pensioners of the right to a decent life.
Of course the IMF and ECB already don't give a shit about democratic elections, so why should they give a shit about constitutions and human rights conventions now? Again, Greece is better off going into full default and leaving the EZ.

IKN - Chuck's going shopping. So dude thinks the targets might be LSG, DGC or... dafuq, B2Gold? Really? And why not Premier? They're in north Ontario too.

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