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Thursday we got another indication that the U.S. economy is returning to strong growth. The government’s first estimate for the third quarter came in at a 3.5 percent annual pace. Again most economists were wrong. The consensus was for only a 3.2% jump. In fact several analysts had actually lowered their estimates yesterday . . . → Read More: Q4 Growth Likely to be Stronger than Q3 The first message to ever travel between two computers connected via the ARPANET, the computer network that would become the Internet, happened on 29 October 1969. The Internet just turned 40. And 40 is the new 20. It is incredible that Al Gore, born 31 March 1948, was able to invent such an amazing series . . . → Read More: Relentless Advance Of Technology Nick from www.sharelynx.com shared some quotes with me that I’d like to pass on. They are from a book written in 1939 by Graham & Whittlesey called Golden Avalanche: “Before leaving the subject of gold supply it is interesting to relate present gold reserves to the monetary circulation of this country and the world. . . . → Read More: Golden Avalanche The US Sentate is currently considering a bill designed to pay people to be unemployed, and to penalize any private parties that still employs people. Well, that’s not exactly how the bill is written, but that’s how any economist will read it. They’re planning to extend unemployment benefits, which would otherwise run out. This . . . → Read More: Tax on Hiring The recent gold bull upleg is in the midst of a predictable slight correction and consolidation. When that finishes it is highly probable, based on seasonality and technicals, that the next part of the upleg will commence. The Federal Reserve and Washington are only making matters worse through their extremely damaging policies. GOLD . . . → Read More: Gold Party Intermission Nearly Over Early this week a survey release by the National Association for Business Economics (NABE) provided new evidence that the U.S. recovery is solidly under way and will be sustained well into 2010. The best news of the survey is that now a majority of companies surveyed are planning to boost their payrolls . . . → Read More: A Jobless Recovery? Not this Time The policy of credit card companies charging an annual fee for those cardholders with solid credit is a good proxy for the state of the nation, and also a microcosm of both the progressive (read socialist) movement in this country and the unintended consequences of an economic policy destined to fail — or succeed . . . → Read More: Credit Cards and the Collapsing Country In my view, we should expect the rules of a good society to have the assent of nearly everyone but that does not mean that these rules are good for everyone. In particular, the law of liberty – preventing people from interfering with the protected domain of others – cannot be expected to be . . . → Read More: Should We Expect the Rules of a Good Society to be Good for Everyone? Sorry for the hiatus, but I am preparing a large note on the ECB, whether it is conducting QE or not, what QE at the ECB is, and finally what the prospects of an exit strategy is. This has taken most of my time the last week. I will be posting this report shortly. . . . → Read More: Central Bank Earnings This past week Warren Buffett said that is is now very clear that the low point in the US economy has already passed, with “enormous” progress being seen over the past year. Buffett attributes much of the strong uptick to swift government action last fall and winter. The actions were paramount in . . . → Read More: Buffett: “Enormous Progress” |
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