Sunday, July 16, 2017
Weekend news and goldbug blogger gossip
Gasp! Jojo apparently said something bad about Otto Rock in his mailer this week, and now Otto's all pissy pants!
FWIW, I've never found Jojo to be arrogant, pompous, or an asshole. He also doesn't reccie his subscribers into stocks that get delisted right off the fucking TSX-V and almost lose all their properties in a power struggle just because he likes their indigenous community, unlike certain other newsletter writers I could mention.
Then again, Jojo was part of the "massive repudiation of debt" crowd 4 or 5 years ago. Though apparently he's gotten better.
Anyway, 2 bits of news:
New Deal Demoncrat - weekly indicators. M1 & M2, tax withholding, rail, and Johnson Redbook all look fine; and of course rates are going up, there's this thing called the Fed.
Marketcrotch - financial ETFs see worst day in 2 months after weak bank results. Here was everyone dumping NASDAQ and piling into banking, because that's just what you do when rates are going up. But, as they've now learned, US banks are a fucking joke, just like they were in 2004-6. You can't make money on them because they squander all their winnings on prop trading. Good to see there are still idiots in banking.