by MN Gordon
Repudiation and Reversal
One of the unspoken joys in life is the rich pleasure that comes with bearing witness to a career politician – a shrew no less – as they fail spectacularly. Tuesday night served up one of these unique experiences with sumptuous fare. No doubt, the world is a better place because of it.
Make of it what you will. Donald Trump’s upset over Hillary Clinton is a repudiation of the entire Washington status quo. This is something to celebrate, whether you like Trump or not.
There are an abundance of dime a dozen political pundits, all who are way more qualified than (Read More....)
. . . → Read More: Donald Trump’s Plan for Economic Salvation
by MN Gordon
Something practically impossible happened on Tuesday. It rained in Los Angeles in June. Not a lot…less than a tenth of an inch. But it was enough for us to discover we had a hole in the bottom of our shoe as we crossed John Fante Square.
Yet that wasn’t the only thing practically impossible to happen on Tuesday. Bond and gold markets simultaneously projected inflation and deflation. Yields on the 10-year Treasury note jumped to 2.41 percent, anticipating inflation. Yet gold dropped 0.19 percent to 1,175 per ounce, anticipating deflation.
On Wednesday, things were still a little discombobulated. Ten year Treasury yields eclipsed 2.47 percent, while gold held steady. Then, yesterday, yields on the 10-year Treasury note pulled back to 2.38 percent. Gold held at about $1,182 an ounce. Crude oil bounced around $60 a barrel.
The stock market continues to yo-yo up and (Read More....)
. . . → Read More: Riding the Waves