“Exuberance,” often a polite term for reckless speculation, in cryptocurrency, housing, and junk bonds has left those markets vulnerable to dramatic reversals if interest rates rise sharply, the European Central Bank (ECB) warned in its twice-yearly financial stability report. The Eurozone’s economy is well along in its recovery, which reduces short-term financial risks, the bank...
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WHY SCIENCE IS THE WORST CULT OF ALL
“This attack on me, which clearly has political overtones to a nonpolitical scientist, I feel, is dangerous to the entire field of science and [shows] how people try to intimidate scientists.” —Dr. Anthony Fauci The quote above came this week, as the head of the U.S. National Institute of Allergy and Infectious Diseases (NAID) defended...
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MORE LOCKDOWNS… EXACTLY WHAT CENTRAL BANKS WANT.
By Gregory Mannarino TradersChoice.net Today the world exists under the authoritarian rulership of central banks who have now become the collective one world government of the world. Since the inception of central banking, these private institutions have had only one goal—to one day become the lender and buyer of last resort, to own it all....
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MARKET OVERVIEW
STOCKS FALL AS COVID WAR HEATS UP IN EUROPE The tech-focused NASDAQ gained 4 percent last week, but the Dow Jones Industrial Average slid 0.7 percent and the Standard & Poor’s 500 index dropped 0.1 percent as new COVID-inspired lockdowns in Europe sent investors scurrying to the safety of the dollar and government bonds, The...
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SPOTLIGHT: BIGS KEEP GETTING BIGGER
PRIVATE EQUITY GROUP BUYS McAFEE Cybersecurity company McAfee Corp. is being taken over by a consortium of investors led by private equity firms Advent International and Permira Advisors for $14 billion in one of this year’s largest leveraged buyouts. Other partners include the Abu Dhabi Investment Authority, the Canada Pension Plan Investment Board, Crosspoint Capital...
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ETHANOL PRICE UP 50 PERCENT THIS YEAR
The price of ethanol, the common corn-derived gasoline additive, has soared about 50 percent so far this year, The Wall Street Journal reported, as people return to the roads after bunkering at home for most of 2020. U.S. road traffic was 8 percent heavier in August than a year previous, according to the Federal Highway...
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RISING OIL PRICES WILL SHRINK DEMAND, OPEC SAYS
Fast-rising prices for oil likely will slow demand in some of the world’s largest economies in the next few months, the Organization of Petroleum Exporting Countries said in its 10 November monthly market report. World oil use will expand by 5.7 million barrels per day this year overall, 160,000 barrels less than OPEC predicted in...
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COST OF CAPITAL SOARS FOR OIL AND GAS PRODUCERS
A decade ago, the cost of capital—the interest paid to borrow the money to fund a capital project—for developing long-term oil and gas deposits and for launching a renewable energy project was about 8 percent to 10 percent for both, according to a Bloomberg analysis. Not now. The minimum return needed to financially justify a...