Monthly archive May, 2013
When Life is Upside Down The Ideas Flow
In early March our family had a house fire, no one was injured but we have been temporarily displaced, settling for a two bedroom condo in the Yonge and Eglinton area. Instantly my testosterone levels were heightened and my blood pressure has gone parabolic, pretending to be young and eligible, some people asked, “where did...
Price Decline Increases Demand
Weakness in gold and silver is leading to robust demand globally as investors buy on this dips. Most evident in Asia where premiums are high and supply imbalances remain. The strong demand began on the price falls in April. Data released by the London Bullion Market Association (LBMA) yesterday shows the result. The price falls...
Euro Youth Unemployment Troubling; USA Personal Spending and Income Miss Expectations.
Ireland has seen its youth unemployment rate drop for 10 of the last 11 months and has dropped to a ‘mere’ 26.6% – the lowest since July 2010 – in what is truly the only possible silver lining in today’s dreadful data. Four other nations now have broken the 40% youth unemployment with Italy finally...
Welcome Back America!
After the Memorial Day Holiday in the United States things started off with a bang, as numbers improved in the USA measuring confidence and economic activity. As a result the metals were subdued but the question remains why? With governments around the world slashing interest rates, the table is being set for hyper-inflation. It is...
The U.S. consumer confidence index climbed to a five-year. Spanish Deficit Targets Miss Expectations. Canadian Corporate Profits Dropped at Start of 2013.
U.S. consumer confidence index climbed to a five-year high of 76.2 in May from an upwardly revised 69.0 in April. The increase beat the forecast of economists, who expected the index to rise to 72.3. Consumers were more optimistic about the health of the economy over the next six months. They were somewhat less optimistic...
Happy Birthday to Rob Ford Mayor of Toronto
Happy Birthday to Rob Ford the embattled Mayor of Toronto who won an election based on a campaign to fight to save taxpayers money. He hasn’t been the pretty ballerina but could improve his image by losing a few pounds for his own health. Unfortunately due to the stress he has endured until now I...
Gold Melting- Renewed Economic Outlook?
China‘s demand for gold jumped 20% in the first quarter of 2013, while global gold demand overall slid 13% with a dramatic change in demand from paper to physical. Chinese demand in gold more than doubled the five-year quarterly average of 43.8 tonnes. Central banks added to their reserves for the ninth consecutive quarter. But...
Sharp Rise in Jobless Claims – Six Month High; Multi Family Starts Largest Fall Since 2006
The number of people who applied last week for new unemployment benefits surged to the highest level in a 1 and ½ months, confirming the U.S. labour market is not healing fast enough to bring down the countries jobless rate. The market confirmed that the economy is deteriorating and completely disconnected from the reality. First,...
Disgusted With Politics in Canada!
If I had to describe myself, I would use the character of Alex P. Keaton, played by Michael J. Fox in the show Family Ties as spitting image of who I am. Always interested in politics and money, today I find myself in a career that embodies the spirit of my interests. As Tony Montana...
Happy Mothers’ Day A Public Service Announcement From The Don!
I have to come out and say it loud and proud; No I am not gay but if the truth be told, I am a Big Mommas’ boy. How can I not be, as the person that gave birth to me who nurtured me and loves me unconditionally even to this day, I cannot put...
Commodities Hold the Top End of Range Downward Move
Gold and silver tried to test the upper end of their ranges yesterday but have yet again lost momentum on the upside. Gold has been a steady favorite vs. silver, with the white metal losing momentum yet again as it neared $24.00 keeping the XAU/XAG ratio near its three-year highs @ around 62. Gold down...
Wholesale Sales and Initial Jobless Numbers Disappoint
The March data showed that wholesale sales disappointed, and instead of growing 1.5%, declined by -1.6%, below expectations of a 0.1% rise. This was the biggest drop in sales since March of 2009: another nail in the coffin of any recovery dreams, showing that indeed the end-demand weakness has been quite widespread. Sooner or later...
I think I love you!