Exxon and Chevron posted record profits during the second quarter of 2022 as high commodity prices boost operations, and as the oil giants keep their spending in check. Chevron reported earnings of $11.62 billion during the three-month period, up from $3.08 billion during the second quarter of 2021. Exxon, meantime, posted earnings of $17.9 billion during the second … Read more
Let us begin with this post from an individual over in the land of wallstreetbets who is bemoaning the fact his $340,000 trading account has been beaten down to $88,000 (a 75% drop) due to picking up such gems as TSLA and ROKU. As you will see, he wants to know how other fellow “traders” deal with such … Read more
An often asked question or concern I get from readers is ‘how do you protect yourself in an inflation or deflation environment?’ Let’s look at some examples of previous historic market crashes and then see how a portfolio such as the one we currently hold would have fared. We have made no secret about our long commodity … Read more
In this week’s Live from the Vault, Andrew Maguire takes a closer look at the newly determined BRICS currency basket, assessing the likely price revaluation of its top three commodities: gold, silver, and oil. With the current geopolitical escalation impacting the physical gold market, the precious metal expert explains the possible repercussions of China’s de-dollarisation … Read more
By Graham Summers, MBA Yesterday I outlined why the Fed can’t stop inflation. By quick way of review: 1) The U.S. has $31 trillion in debt. 2) The U.S. is already spending $305 billion in interest payments every year with rates at ZERO. 3) Every 1% increase in rates by the Fed means U.S. debt … Read more
That ’70s Show In the wake of Friday’s soaring CPI print and Bank of America strategist Michael Hartnett’s latest note (“A Dire Outlook From Wall Street’s Biggest Bear”), it’s worth revisiting the ’70s bear market analogue he sketched out last month, and how that has panned out so far. As ZeroHedge summarized it at the time, [For] Hartnett, the … Read more
Fed 50 vs. Fedoggy#4292 The Fed went 50bp. I will come back to this in a moment, but I need to set the scene properly. Back in 2020, I was expounding that “-isms” were soon going to be back in vogue. Our conflating structural problems –caused by global neoliberalism– were going to see clashes over what … Read more
There’s a new Zoltan Pozsar of Credit Suisse report out… and he starts off by saying: …you can print money, but not oil to heat or wheat to eat. I’m so glad because this rather obvious point seems to be completely missed by economists and analysts for unknown reasons. Nor do they seem to get … Read more
As a long-time martial arts practitioner that trained with many active-duty military personnel, including Army Rangers, I learned of a saying that one must learn to be disciplined, yet flexible enough to adapt to changing situations in order to overcome unforeseen obstacles in your path. For some reason, many people today equate discipline with rigidity … Read more
