Loading ...Buying Dollars and of course selling PM’s….but as of now the selling is too vast and the Algo’s are dumping the SM….what to do, this was not in the plan.
USD killing us
Not getting crushed like the SM but certainly not making us rich
R640 – yes
well said. “A profitless victory”
I don’t really think we’ll get going until the Fed takes a pause on rate hikes. We’ll see how bad the SM gets before it forces their hands.
One thing for sure though, there’ll be no light volume melt-up in stocks going into Thanksgiving – maybe not Christmas either.
Buygold-yes, sadly, gold bugs can enjoy a profitless victory of sorts:
“at least gold isn’t crashing like in 2008″…on the other hand G&S have been a relentless wealth destroyer since 2011…and I will leave aside for now the issue of what is wealth…for most of us it is having those evil ole “fiat dollars” in the bank to keep the lights and TEE VEE on and the water running…and being able to go to the butcher for that ole ham hock to make a pot of navy bean soup to warm our tired old bones on a cold winters’ day…
SM squishy again
10 yr moving lower now 3.05%
PM’s trying to hang in there. Beats getting crushed with the SM
FAANG Stocks still getting spanked. We’ll see what happens
Macro
What a shame. Cool jet. Why can’t they make them now? I don’t know of him or much on your history as never felt to be concerned until now. The quote isn’t a sham but can understand why you think he saying it was after that. I can’t think he’s worse than Trudeau though.
MM3 – 10:05 pm
Ah yes , our PM in 1958 , infamous for the Diefenbunker near Ottawa . Early in my career , I worked with a few engineers and techs who were caught up in the cancellation of the Arrow . There were two flying prototypes , and to prevent the project from being resurrected by Parliament , had them cut up overnight with cutting torches . One of the engineers told me that the big boss of AVRO came on the PA system about mid afternoon the day that the PM cancelled the project , and announced something to the effect that “The Arrow project has been cancelled today , so go home and do not return to work here…ever . You are all laid off.” Click !
That was one of the factors which prompted the ‘Brain Drain’ of talent from Canada to the USA. I benefitted from the attempts to bring technically trained people back to Canada who were educated in the USA . My field of study was high velocity flow , as in a Mach 2 wind tunnel I designed as a grad student , but after NASA put a man on the moon , it was mission accomplished so government contracts were terminated . In my senior year , I was pursued by many AeroSpace companies , but the next year , after pursuing grad work ( and building the wind tunnel) all offers dried up . One day , after having received negative replies from dozens of companies in the USA , I received an unsolicited offer from a research facility in Ontario , and jumped at the chance .
That was where I met the ex-AVRO folks . One , an engineer was quite a colorful character ( and the one who relayed the story of the Layoff announcement ) who was from a rather aristocratic family in Britain , and as a young man tooled around in a Bentley roadster . He also raced modified motorcycles , and as he approached retirement bought a hot Olds post-442 convertible with the W-series engine ( 454 cubic inches , I think ). That car today would be worth a mint at auction if kept in decent condition .