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  • Market Outlook 2015-2045 - Men Vs. Machines [View article]
    The problem with robots is that they cannot create surplus value, only human labor can. The more robots replace humans the stronger is downward pressure on the rate of profit. This is one of the ways capitalism digs its own grave.
    May 20 12:57 PM | 1 Like Like |Link to Comment
  • It's Official: Gold Is Now The Most Hated Asset Class [View article]
    The conspirology of 9-11 dwarfs in comparison with that of the "socialistic" central banks and governments. The right-wing fantasies of a pristine capitalism, unspoiled by closet "Marxists" and evil "monopoly" banksters, spread like forest fire among the propertied sections of the middle class, used to be called the petite bourgeoisie.

    Yet, if I were a gold bug I would celebrate this bear market and hope for a deeper downside. I would salivate at the prospect of the $1000 gold and secretly pray for its armageddon and liquidation. In some ideal world, I would love to see gold at $1 because then I would gorge on gold exchanging my restricted supply of "toilet paper," as gold bugs call FNs, for "real money" one to one, one paper dollar for one ounce! What puzzles me is that instead of the expected jubilation we hear the crescendo of the whining chorus of yellow metal collectors as gold keeps falling. Anybody can explain this phenomenon?

    I'm kidding, of course. The people we called gold bugs are not speculators. They are some of the most vocal representatives of the small bourgeoisie who in their own limited and warped way articulate the rising anxiety, even desperation of their social class. Politically, they are helpless because in the monopoly phase the state cannot but be married to the Wall Street. Financially, they are completely at the mercy of Wall Street thugs and their proxies in the White House and Capitol Hill. Yet, they are even more fearful and hateful towards the working classes, the poor, and the non-propertied middle class (professions). They dread to join the hell of the unprovided existence and 9 to 5 wage slavery due to the big guys' shenanigans with world finances and economies. In one word, they are the SQUEEZED, the SANDWICHED MEN. In their mind, gold is the only pillar of the virtuous, indestructible (remember those 5,000 years!), immune to the Fed's evil designs, a safe harbor to avoid their lives' shipwreck in the storm of this world capitalist crisis. It is this, rather than a trivial loss, that the fall of gold signals to these people: we are doomed...unless of course in "the long term" we are not.
    May 19 03:43 PM | 4 Likes Like |Link to Comment
  • Ugly Charts [View article]
    There is no such thing as a safe and undisclosed location. And this is the least of the problems with your thinking.
    May 16 11:44 AM | 2 Likes Like |Link to Comment
  • Barrick Gold And Harmony Gold Can Inflate Your Portfolio [View article]
    Why would any thinking speculator buy ABX now when gold is so clearly in downtrend likely to the $1200-1300 range rather than following Mr. Davis' advice to be patient and wait until ABX bottoms out at, say, $13-15 range? I see absolutely no reason for this unless, of course, helping not so patient speculators who bought it at $25.
    May 15 09:54 PM | Likes Like |Link to Comment
  • Obama's Central America Speech: A Hint For Granting LNG Exports To Non-FTA Countries? [View article]
    Obama knows what it means for the country: the possibility of relying on North American energy to ensure's independence to foreign energy. >>

    The problem is that in the dog-eat-dog type of international relations which we helped to create the independence of one country means the dependence of the other. LA knows a few things about the last, especially with the new Bolivarism on the rise. My guess they are more likely to choose to be dependent on Brazilian LNG than on ours.
    May 7 12:57 PM | Likes Like |Link to Comment
  • Top 10 Things You Need To Know About Gold - But Were Too Afraid To Ask [View article]
    Brilliant article! Agree with Orange. Theoretically, Labor is the only force, save the Chinese CP :), that can challenge neoliberalism and corporate power. But Labor is in shambles even in Europe and this is the biggest factor behind the deflationary trend. Yet the old mole keeps digging. The impotence of Labor now threatens the capitalist system as such, both economically and politically. The whole damn thing had survived the last century only because Labor was integrated in the system in exchange of giving up socialist politics. This proved very effective in keeping Western workers under political control. Now, with labor bosses clearly bankrupt and capitalism running amok it'll get more and more difficult to do, since the downward pressure on wages will only increase when Western workers have to compete with African in addition to Asian labor force. This makes me think that deeper deflationary forces will grow stronger.
    May 3 05:31 PM | Likes Like |Link to Comment
  • Cheniere Energy Overheats On Another Contract Signing [View article]
    these people need someone to hold the proverbial bag for them.
    Apr 30 02:17 PM | Likes Like |Link to Comment
  • Crossroads, Will They Ever Let Stocks Go? [View article]
    I don't know about other retail investors but I do trust my government if only because I can vote against it. Who I don't trust are the Wall Street thugs and highway robbers over whom I have no power as a citizen of this country. Does it make sense?
    Apr 21 08:21 PM | 2 Likes Like |Link to Comment
  • Sector Rankings And Bullish Percent Index Signals [View article]
    If "we" are going to sell in May then who are "they" who are going to buy in May? Just asking.
    Apr 21 07:54 PM | 1 Like Like |Link to Comment
  • Storm Clouds Gathering In Moscow [View article]
    I respect your experience of living in Russia. Still I think your logic is flawed. You've made your analysis hostage to what you believe to be an axiom: "Putin's power comes from the economy's success." It didn't --recall August of 1999--and it has never been a case in Russia just as in any other major national state. It's not the case even in Zimbabwe because Zimbabwe is not a banana republic. Power and economic success have nothing to do with each other or we'd have a very different government and a ruling class in this country. The key word is sovereignty. Russia is one of the handful of countries that remain genuinely sovereign. Others are: the US, China, India, Iran, and maybe Brazil. The real source of Putin's staying power is his commitment to Russia's sovereignty. Putin cannot get rid of corruption. No one can. Corruption is the integral part of modern capitalist system. No corruption - no capitalism, unless in the heated imagination of our gold bugs and gun lovers. Regimes of damage controls, deniability, and troubleshooting may differ, and Russia, with its capitalist class still in formation, obviously looks more corrupt than, say, Britain or the US. But this is only an appearance. In reality, Russian crooks are six-month babies in comparison to corruption giants like the City and the Wall Street. Just a few years ago the entire world capitalist system was driven to the brink of collapse by the master swindlers operating in its very heart. Did we have a change of the government except the usual rotation of their patsies?
    Apr 16 01:38 PM | 1 Like Like |Link to Comment
  • Storm Clouds Gathering In Moscow [View article]
    Approval ratings in 2013 are at all time lows (63% in April 2013 from 87% all time high in 2008).>>

    Fragile, indeed... especially by US standards.

    I wonder though who in the world can overthrow a lawfully elected president (not of a banana republic) in the second year of his six-yer term with 63% or even 1% approval rating? A case of wishful thinking in usually down-to-earth SA?
    Apr 16 12:03 PM | Likes Like |Link to Comment
  • Gold: I Hate To Say I Told You So ... But I Told You So [View article]
    Gold's fall may signal the failure of Bernanke's desperate attempts to avoid deflation. As some one here observed, the Fed has succeeded in inflating commodities (and enriching speculators) but this only strengthened deflationary forces. With their wages dwindling, mass consumers aka workers spend more for energy and commodity-intensive products and limit their consumption of other products and services. Rising taxes and austerity measures further aggravate this situation. If so and Bernanke sees the specter of deflation growing he'll throw new trillions at it. And if worst comes to to worst he'll out-japanese the Japanese. This is what makes me think that gold may yet have a chance. But I agree with Robert's critique of the myths.
    Apr 15 02:33 PM | Likes Like |Link to Comment
  • Rumors Of The Revival Of Retail May Have Been Greatly Exaggerated [View article]
    What is the definition of a "job created"? If I fire a worker and then hire one, do I "create a job" ?
    Apr 5 03:07 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    And they also ate their hearts and livers. Where did you read this rubbish?
    Mar 19 10:25 AM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Make it 50% for Russian crooks!
    Mar 18 08:59 AM | 3 Likes Like |Link to Comment