Posts Tagged ‘Depression’



WSOP No-Limit Texas Hold 'em World Championship

Courtesy of The Pragmatic Capitalist 

Yesterday’s WSJ MarketBeat blog took David Einhorn to task for his op-ed in the NY Times titled “Easy Money, Hard Truths“.  They make the argument that Einhorn is simply pushing his massive gold position.  I fear Einhorn is doing something much worse – helping to scare us all into continued recession.

First off, I have no problem when someone talks their book.  In fact, I almost prefer for people to talk their book.  There’s a certain trust in someone who is willing to “put their money where their mouth is”.  It’s the primary reason why I believe the hedge fund business is such a wonderful advancement beyond traditional mutual funds – the manager’s interests are generally aligned with those of the investor.  If you can find a manager who is not only intelligent, but has a sound moral compass you’ve wandered upon quite a gem.  From all accounts David Einhorn appears to fit the mold.  But I take very serious issue with his recent comments which I believe are filled with half-truths and propaganda that we continually hear from the inflationistas (all of whom have been terribly wrong thus far in terms of their macroeconomic outlook) who are driving the country towards the edge of the cliff.

Einhorn is a great investor and clearly a brilliant man, but for two years I have watched policymakers and fear mongerers misdiagnose the problems that we confront and this is, in my opinion, why we are still wrangling with these issues. In 2008 I wrote a letter to the Federal Reserve saying that this was a classic “balance sheet recession” with problems rooted in the private sector – specifically the consumer.  I told them that saving banks was not the solution and that monetary policy would prove as fruitless in the U.S. as it has in Japan.  I was shocked to receive a friendly response to my letter but not shocked to see Mr. Bernanke implement his Friedman-like monetarist campaign of “saving the world”.  Obviously it hasn’t worked (unless you’re a banker) as we sit here two years later still discussing this wretched credit crisis and the ranks of the unemployed continue to climb.  If we cannot properly diagnose the problems we cannot find a proper cure.  Thus far, we have failed.…
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Courtesy of The Pragmatic Capitalist 

Investigating the

  • Just a few brief comments on the market at the current levels. I was relatively optimistic about the equity markets coming into the beginning of the year.  The themes that had dominated much of 2009 (better than expected earnings, accommodative Fed, continuing stimulus, etc) appeared to be largely intact.   To my surprise, the rally ran a bit farther than I expected, but Greece and the downturn in China were game changers in my opinion.  I was a few weeks early to lay my short positions, but the market ultimately came around to my thinking (better to be lucky than good).  Where are we now?  In my opinion, we have a global economy that ispre-Greece and a global economy that is post-Greece.  The dominoes appear to be lining up in an eerie fashion at this point in time – there are now dozens of negative catalysts in the coming 12 months (which I will detail in a soon to be released report).  Although the markets are once again oversold and at risk of a bounce the fundamentals are quickly deteriorating and my expectation of a weak second half appears to be right on cue.  I would continue to approach this market with a great deal of caution despite the current oversold conditions.
  • What do the Germans know? This short selling ban is very desperate looking.  I hate to speculate, but my gut tells me that they are beginning to realize how bad the situation is over there.  They now understand that the problems in the Euro cannot be solved through intra-country debt issuance and bailouts.  The short ban looks like one more act of desperation from a group of nations that have severely underestimated the problems they confront.  Unfortunately, I still don’t think they’ve realized that this is a currency crisis and not a solvency crisis.  That means they’ll continue to kick the can down the road and markets will battle with the turbulence.  This truly does have a very Bear Stearns feel to it.
  • Will we scare ourselves into a double dip or even a second great depression? Everyone and their mother appears to be in the same camp regarding all the very scary “money printing”.  I’ve never in my life heard the drumbeat so loud for fiscal austerity.  In fact,

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Why The World Is Headed For A Balance Sheet Recession

"Balance sheet recession" explained.  It characterized the Great Depression and Japan’s Lost Decade, and includes weak consumer spending and private sector deleveraging.  During this process, the three Ds come into play: debt deflation, deleveraging, and ultimately depression. – Ilene 

Why The World Is Headed For A Balance Sheet Recession

Courtesy of Edward Harrison at Credit Writedowns 

In my post Koo, White, Soros and Akerloff videos from inaugural INET conference I highlighted four speeches from the recent George Soros-sponsored pow-wow. I have already written up a post based on the one by William White in "The origins of the next crisis."

This post serves to give you some colour on another of those speeches, the one by Richard Koo and his balance sheet recession.


Koo believes the US, Europe and China are headed for a period of incredibly weak consumer spending not unlike what Japan has been through. Let me say a few words about this balance sheet recession theme, private sector deleveraging, and the related sovereign debt crises. Then, at the bottom, I have embedded a recent paper of his which has a bunch of graphs that explain what Japan has been through as a cautionary tale for the global economy.

I have described Koo’s thesis this way:

Nomura’s Chief Economist Richard Koo wrote a book last year called “The Holy Grail of Macroeconomics” which introduced the concept of a balance sheet recession, which explains economic behaviour in the United States during the Great Depression and Japan during its Lost Decade.  He explains the factor connecting those two episodes was a consistent desire of economic agents (in this case, businesses) to reduce debt even in the face of massive monetary accommodation.

When debt levels are enormous, as they are right now in the United States, an economic downturn becomes existential for a great many forcing people to reduce debt. Recession

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Eerie Line Chart Similarities between 1929 and 2009

Eerie Line Chart Similarities between 1929 and 2009

Courtesy of Corey Rosenbloom at Afraid to Trade  

Here’s another perspective on the comparison charts of the Dow Jones between the 1929 crash and recovery and the 2009 crash and recovery.

Let’s take a quick view of the line charts of the daily Dow Jones in 1929 structure and how it compares with today’s weekly Dow Jones structure.

First, the Daily Dow Jones:  1929 Crash and Recovery

I drew the numbers not so much as an Elliott Wave notation, but so that comparing key swing highs and lows would be easier.

The peak to trough crash lasted 72 days as the Dow Jones fell 47% (peaking in September 1929 at 386 and falling to 195 in November 1929).  It unfolded roughly in a 5-wave progression.

The rally began off the November lows and lasted 155 days, peaking up 47% at 295 during April, 1930.

This shows an important principle in investing and trading, namely that if your account (or an index) falls 50%, then it would take a full 100% rally off the lows to recapture the prior highs, and not a 50% rally off the lows as seen above.

The rally phase took twice as long as the ‘crash’ phase and also unfolded in a 5-wave affair (with smaller waves).

I found it interesting that the daily chart showed an almost identical head and shoulders reversal pattern that failed – which is similar to the June/July failed head and shoulders pattern in 2009.

Because the 2008-2009 crash and recovery took longer, I am showing the weekly line chart of the Dow Jones.

Finally, the Current Weekly Dow Jones 2008-2009 Crash and Recovery:

Again, we see a similar 5-wave slow-crash down to the final March 2009 lows.

Price peaked in October 2008 at 14,198 and then fell 52% to the March 2009 lows of 6,469 – 72 weeks (510 days).  The decline also fell in a similar 5-wave decline (with the 3rd wave ‘fractalizing’ into its own mini-five wave decline).

From the March 2009 lows, price has – so far – rallied 65% to the January high of 10,723 over the last 320 trading days… or almost all of 2009.

Again, despite the 65% rally, price is still 5,000 points lower than its 2007 peak.

The current rally also unfolded in a mini-five wave affair on a steeper…
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Iceland downgraded to junk as it heeds 70% of the electorate on Icesave debt

Iceland downgraded to junk as it heeds 70% of the electorate on Icesave debt

Courtesy of Edward Harrison at Credit Writedowns

Iceland, Jokulsarlon Lagoon with icebergs

The latest piece of big news in the sovereign debt crisis comes, remarkably, from Iceland. The country collapsed into depression after its experiment as an open economy with a large banking sector went pear shaped.

After a debt-fuelled boom and a huge influx of hot money due to high interest rates, its currency and banks collapsed under a fleeing of foreign money and huge losses. The government nationalized the bank’s debt only to find the banks were too big to bail. The Icelanders rioted on the streets, a sovereign crisis ensued, and the government was toppled.

Iceland was rescued and it seemed all was well. They was even talk of fast-tracking Iceland into the EU. Then, suddenly, the population balked at the prospect of bailing out the banks. Now, the sovereign debt crisis is on again. At issue is Icesave, an Icelandic bank that operated in the UK and the Netherlands whose bust caused great hardship amongst British and Dutch savers who were attracted by high interest rates.

See the video below on why Fitch is now downgrading the country’s debt status to junk despite the lack of immediate liquidity concerns.

I think this is big news and have a number of sources on this story below. Watch the Dutch and British stories for signs of European tensions as this is where the affected Icesave savers reside. The FT headline says it all. Ambrose Evans-Pritchard’s commentary is the most comprehensive and balanced in my view. The Norwegian headline, on the other hand, is “Iceland not on the verge of collapse” in huge typeface. The fault lines are definitely opening in Europe. I will discuss this later on the latest story on Greece and the likelihood of EU help.


Reykjavik warned of political isolation – FT

Iceland can refuse debt servitude – FT

Iceland faces crisis after Icesave rejection – Reuters

Iceland leader vetoes bank repayments bill – BBC News

Iceland’s president blocks £2.3bn Icesave deal to compensate the UK – Telegraph

Angry Iceland defies the world – Ambrose Evans-Pritchard, Telegraph

Icelanders to vote on whether to repay UK over bank bailout – Guardian

Poll: Should
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Asia tells the west to get off its high horse

Asia tells the west to get off its high horse

Courtesy of Edward Harrison of Credit Writedowns

Mature woman on horse back crossing river, others in background

You kind of saw this coming didn’t you. Asians remember the Depression that began there a decade ago all too vividly. Many still see the West to blame because of the draconian economic policy solutions meted out by the IMF, including now-US Treasury Secretary Tim Geithner amongst others.

Incongruously, the very same Tim Geithner of “deeply unpopular, deeply hard to understand” economic policy fame is part of an American economic policy making group now perpetrating perhaps the largest financial and economic bailout in history. I certainly doubt this policy will be effective over the long-term.  Even so, this hypocrisy has been noted in Asia. The political fallout is just now coming due.

Ronnie Chan, chairman of Hang Lung Properties in Hong Kong writes in the FT:

While the world debates the future of its financial system, global rebalancing or even power shifts along five dimensions are quietly taking place. Their implications are profound and may well lead to a more stable world.

The first is a rebalancing of moral authority. The system that the west touted as superior has failed. Why should developing countries blindly follow its model now? Remember the moral high ground that western leaders took during the Asian financial crisis? Hong Kong was bashed when its government intervened in August 1998 in the stock market to fend off the western investment banks and hedge funds bent on destroying the city’s currency.

Yet only a month later, the US government intervened in the market to bail out Long-Term Capital Management, a move that proved to be the harbinger of the western bail-outs of financial institutions in the past year. Hong Kong’s government was not allowed to save its citizens, yet by a double-standard the US could save its companies.

The waning of the west’s moral authority is also due to the many conflicts of interest inherent in investment banking as it is currently structured. The west turned a blind eye to them. What can developing economies do? Nothing, for the wealthy countries dictated the rules of the game, which became a licence to misbehave.

The moral superiority of the west was also expressed through its ideology. China was barred from being a member

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Key Theme In Interview With ShadowStats’ John Williams (You Guessed It) – Hyperinflation And The Death Of The US Economy

Key Theme In Interview With ShadowStats’ John Williams – (You Guessed It) Hyperinflation And The Death Of The US Economy

Courtesy of Tyler Durden

Money is worthless in

If you thought John Williams, who a month ago prophesied that the US could be facing hyperinflation as soon as 2010, has changed his tune, think again. In an interview conducted by Phil Maymin of the Fairfiled Weekly, the man who has made a business out of debunking the government’s data fabrication machine, dishes out some very hard to swallow truths about the US economy and where the fiat world is headed. As always, Williams’ perspectives are debate-worthy by all, whether inflationist or deflationist: in a field of media sycophants, JW is not afraid to speak what we all know, yet rarely wish to acknowledge.


Maymin: So we are technically bankrupt?

Williams: Yes, and when countries are in that state, what they usually do is rev up the printing presses and print the money they need to meet their obligations. And that creates inflation, hyperinflation, and makes the currency worthless.


Obama says America will go bankrupt if Congress doesn’t pass the health care bill.

Well, it’s going to go bankrupt if they do pass the health care bill, too, but at least he’s thinking about it. He talks about it publicly, which is one thing prior administrations refused to do. Give him credit for that. But what he’s setting up with this health care system will just accelerate the process.


Where are we right now?

In terms of the GDP, we are about halfway to depression level. If you look at retail sales, industrial production, we are already well into depressionary [territory]. If you look at things such as the housing industry, the new orders for durable goods we are in Great Depression territory. If we have hyperinflation, which I see coming not too far down the road, that would be so disruptive to our system that it would result in the cessation of many levels of normal economic commerce, and that would throw us into a great depression, and one worse than was seen in the 1930s.


What kind of hyperinflation are we talking about?

I am talking something like you saw with the Weimar Republic of the 1930s. There the currency became worthless enough that people used it…
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David Rosenberg’s 2010 Outlook “The Recession Is Really A Depression”

David Rosenberg’s 2010 Outlook "The Recession Is Really A Depression"

Courtesy of Tyler Durden

Basset hound in sunglasses and pink cap

With December almost done, and all the banks having already issued their rosy outlooks for 2010 (don’t ask us how the trading desks are axed, but you be sure a certain sense of "contrarianism" permeates Goldman’s traders), the objective third party strategists begin chiming in. We present Rosie’s 2010 outlook from Today’s Breakfast with Dave piece, courtesy of Gluskin Sheff

The credit collapse and the accompanying deflation and overcapacity are going to drive the economy and financial markets in 2010. We have said repeatedly that this recession is really a depression because the recessions of the post-WWII experience were merely small backward steps in an inventory cycle but in the context of expanding credit. Whereas now, we are in a prolonged period of credit contraction, especially as it relates to households and small businesses (as we highlighted in our small business sentiment write-up yesterday).

In addition, we have characterized the rally in the economy and global equity markets appropriately as a bear market rally from the March lows, influenced by the heavy hand of government intervention and stimulus. But in classic Bob Farrell form, 2010 may well be seen as the year in which we witness the inevitable drawn out decline that is typical of secular bear markets. There may be some risk in industrial commodities if global growth underperforms, but the soft commodities, such as agriculture, may outperform in the same way that consumer staple equities should outperform cyclicals in an environment where economic growth disappoints the consensus view. Gold is operating on its own particular set of global supply and demand curves and should be an outperformer as well, especially when the next down-leg in the U.S. dollar occurs. We are not alone in espousing this view — have a look at Why Consumes Are Likely to Keep on Saving on page C1 of today’s WSJ.

The defining characteristic of this asset deflation and credit contraction has been the implosion of the largest balance sheet in the world — the U.S. household sector. Even with the bear market rally in equities and the tenuous recovery in housing in 2009, the reality is that household net worth has contracted nearly 20% over the past year-and-a-half, or an epic $12 trillion of lost net worth,

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Can Dopamine Make Your Future Look Brighter?

Our choices are dramatically influenced by the chemicals circulating through our bodies – so how much free choice do we really have? Is free will just an illusion?  - Ilene

Can Dopamine Make Your Future Look Brighter?

By John Cloud, courtesy of TIME

Tourism In Florida Falls Almost 10 Percent During Second Quarter

Humans have expended a great deal of intellectual energy over the past few thousand years trying to understand the morality (or amorality) of seeking pleasure. Most of philosophy begins with the question of what defines the (or a) good life. But what if the answer to what makes us happy comes down to how much of a particular chemical is circulating in our brain at any particular moment?

(As with risk taking, romantic love, religousness…. – Ilene)

The neurotransmitter dopamine isn’t quite that powerful, but evidence has been mounting for the past 40 years that its activity is key to helping the brain recognize experiences that cause pleasure. The more dopamine a certain event (having sex or eating ice cream, say) triggers, the more strongly that event gets hard-wired in the brain, and the more intensely your brain drives you to revisit it.

That knowledge also helps the brain figure out how much pleasure it can expect from future experiences and, therefore, influences virtually any decision you make about what you might like or not like: whether you should buy the red shirt or black one, whether you’ll enjoy watching Top Chef over Mad Men, whether you should leave your job or whether you should move in with your boyfriend.

Now a new paper in the journal Current Biology shows for the first time that by tinkering with levels of dopamine in the brain, researchers were be able to influence people’s future decisions in a reliable, predictable way. Led by Tali Sharot and Tamara Shiner of the the Wellcome Trust Center for Neuroimaging at University College London, scientists presented 61 healthy volunteers with 80 different vacation locations, such as Brazil, Thailand and Greece, and asked the volunteers to rate how happy they thought they would be visiting each place. Later, 29 of the participants were given 100 mg of levodopa (or L-DOPA), a drug that increases dopamine in the brain; the other 32 were unwittingly given a sugar pill. Forty minutes later, each participant was given a questionnaire about their emotional state, then a list…
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Paranormal Activity to Another Black Monday?

Paranormal Activity to Another Black Monday?

Courtesy of Leo Kolivakis, publisher of Pension Pulse, h/t Zero Hedge

Simon Maierhofer of writes Whats Next – Minor Correction or Major Collapse?:

Over the past few months, every attempt by the bears to depress prices has been met with renewed buying pressure, resulting in even higher prices. What goes up, however, has to come down and some subtle signs are indicating that this decline might be more than a simple correction, much more.

It was after midnight on April 15th, 1912 when the unsinkable did the unthinkable. Built and labeled as unsinkable, the Titanic was the most advanced and largest passenger steamship of its time.

Even though the Titanic’s crew was aware of the fact that the waters were iceberg-infested, the ship was heading full-steam for a destination it would never reach.

Being aware of danger is one thing; acting prudently for protection is another.

Today, investors find themselves in an environment that is infested with symbolic icebergs. For savvy investors willing to pay attention and heed warnings, this doesn’t necessarily translate into a financial shipwreck, while others might soon be reminded of the Titanic when they look at their account balance.

Iceberg cluster #1: Lack of leadership

a life saver from the titanic

Throughout the financial meltdown financials, real estate, and homebuilders fell harder and faster than broad market indexes a la S&P 500 and Dow Jones. Beginning with the miraculous March revival (more about that in a moment), the broad market rose while financials, real estate, and homebuilders soared.

Those three sectors led the decline and led the subsequent (mock) recovery. Since it is reasonable to assume that those sectors will continue to lead the market throughout this economic cycle, it behooves investors to watch such leading sectors closely.

The S&P 500 recorded a closing high on October 19th at 1,097. The Financial Select Sector SPDRs reached their closing high a few days earlier on October 15th. Since their respective closing highs, the S&P 500 has dropped 2.82%, while XLF has already shed 5.64%.

A more pronounced performance slump is visible in the home builders sector. The SPDR S&P Homebuilders ETF peaked on September 16th and has fallen 9.97% since. Keep in mind that XHB’s lackluster performance comes on the heels of the biggest monthly increase in total

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Zero Hedge

Wikileaks Provides Status Update On Julian Assange And The US Election

Courtesy of ZeroHedge. View original post here.

Over the past week concerns mounted that in the aftermath of the surprising decision by Ecuador to cut Julian Assange's internet connection during the US election period (under pressure from John Kerry), that not all might be well with the Wikileaks founder, about whom Hillary Clinton allegedly jokingly asked whether he can be droned. Concerned speculation about the Ecuadorian embassy exile had risen to such an degree, that overnight Wikileaks announced it would provide a state update on Assange's current status. It did so moments ago on twitter when the WikiLeaks Editorial Board issued the follo...

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Chart School

More of the Same: Small Bearish Wedges

Courtesy of Declan.

Friday had bears rubbing their hands in glee as it finally looked like momentum was shifting their way, but bulls again stepped in to take markets back to their open price, and in some cases, higher. Volume did climb to count as distribution, but with the small price changes for these indices

The S&P remains tightly bound to the rising wedge. Swing traders have the best chance to profit; market coiling action often leads to a directional trend - either a continuation down or a counter break higher, stop on the flip side. Technicals suggest a move lower.


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Phil's Favorites

Stocks Are Not Long Term Investment Vehicles (Video)

Courtesy of EconMatters

We discuss market theory in this video, and why stocks are not the long term investment vehicles they are purported to be. Pay attention to what phase a stock is in! Everything, i.e., stock prices are determined by fund flows and market structure far more than fundamental valuation concerns. When market participants quote fundamental metrics they are literally staring at individual blades of grass in the larger context of a huge forest.

Every asset right now in modern financial markets is uninvest able from a long term fundamental time horizon basis due to several factors, but namely bizarre centra...

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Misconceptions about the Nordic Economies

By The Foundation for Economic Education. Originally published at ValueWalk.

Nordic Economies

Photo by sebilden

Misconceptions about the Nordic Economies

The Nordic countries are usually mentioned in the Spanish political debate as examples of well-functioning and efficient Welfare States where the government provides citizens with a large range of social benefits. (The terms “Nordic” and “Scandinavian” will be employed interchangeably to refer to Sweden, Finland and Denmark. Norway and Iceland are excluded from my analysis.) Politicians, especially on the left side of the political spectrum, look at Sweden, Denmark, or Finland as successful social democratic experiments in which social entitlements are guaranteed by the ben...

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Market News

New You Can Use From Phil's Stock World


Financial Markets and Economy

Trillion-Dollar Payout May Mean Peak Largesse for U.S. Investors (Bloomberg)

A total $600 billion in share repurchases and $400 billion in dividends will be doled out by S&P 500 Index members by the end of the year, the biggest combined payout in history, according to strategists at Barclays Plc. Gravy like that is getting tougher to sustain as corporate profits suffer a six-quarter slump and cash levels begin to dwindle.

Deutsche Bank Could Be The “Lehman Moment” Of 2016 (Value Walk)


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Insider Scoop

Rockwell Collins to Acquire B/E Aerospace for $8.3B

Courtesy of Benzinga.

Rockwell Collins (NYSE: COL) and B/E Aerospace (NASDAQ: BEAV)  today announced that they have entered into a definitive agreement under which Rockwell Collins will acquire B/E Aerospace for approximately $6.4 billion in cash and stock, plus the assumption of $1.9 billion in net debt.

Under the terms of the agreement, each B/E Aerospace shareowner will receive total consideration of $62.00 per share, comprised of $34.10 per share in cash and $27.90 in shares of Rockwell Collins common stock, subject to a 7.5% collar. This represents a premium of 22.5% to the closing price of B/E Aerospace common stock on Friday, Octob... more from Insider

Kimble Charting Solutions

Bio-Tech; In more trouble if this fails, says Joe Friday

Courtesy of Chris Kimble.

At one point in time, actually for years, Bio-Tech (IBB) was a market leader. From the 2009 lows to 2015, IBB out gained the S&P by more than 250%. Since the summer of 2015, Bio Tech has remained a leader, a “downside leader!” IBB has lagged the S&P by over 35% in the past 15-months.

Is the downside leadership over for IBB? Below updates the pattern on IBB


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Members' Corner

The Orlando Massacre Part 3

Courtesy of Nattering Naybob.

A continuation of a Naybob of IT's Natterings from Part 1 and Part 2...

While many Christian churches expressed grief and offered free funeral services for the victims of the Orlando shooting, the fundamentalist Westboro Baptist Church held an anti-gay protest during the funeral of the victims.

But the Westboro Baptist Church's protest rally was blocked by about 200 people who formed a human barricade on the main street in downtown Orlando, ...

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Swing trading portfolio - week of October 17th, 2016

Reminder: OpTrader is available to chat with Members, comments are found below each post.


This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...

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Mapping The Market

The Most Overlooked Trait of Investing Success

Via Jean-Luc

Good article on investing success:

The Most Overlooked Trait of Investing Success

By Morgan Housel

There is a reason no Berkshire Hathaway investor chides Buffett when the company has a bad quarter. It’s because Buffett has so thoroughly convinced his investors that it’s pointless to try to navigate around 90-day intervals. He’s done that by writing incredibly lucid letters to investors for the last 50 years, communicating in easy-to-understand language at annual meetings, and speaking on TV in ways that someone with no investing experience can grasp.

Yes, Buffett runs an amazing investment company. But he also runs an amazing investor company. One of the most underappreciated part of his s...

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Digital Currencies

Gold, Silver and Blockchain - Fintech Solutions To Negative Rates, Bail-ins, Currency Debasement and Cashless

Courtesy of ZeroHedge. View original post here.

By Jan Skoyles

I was so pleased yesterday by the announcement that I have joined the Research team at GoldCore as it meant that I could finally start talking about it and was back in a role that lets me indulge in my passion by researching and geeking out on all things gold, silver and money.


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Epizyme - A Waiting Game

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

Epizyme was founded in 2007, and trying to create drugs to treat patient's cancer by focusing on genetically-linked differences between normal and cancer cells. Cancer areas of focus include leukemia, Non-Hodgkin's lymphoma and breast cancer.  One of the Epizme cofounders, H. Robert Horvitz, won the Nobel Prize in Medicine in 2002 for "discoveries concerning genetic regulation of organ development and programmed cell death."

Before discussing the drug targets of Epizyme, understanding epigenetics is crucial to comprehend the company's goals.  

Genetic components are the DNA sequences that are 'inherited.'  Some of these genes are stronger than others in their expression (e.g., eye color).  Yet, some genes turn on or off due to external factors (environmental), and it is und...

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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.

To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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PSW is more than just stock talk!


We know you love coming here for our Stocks & Options education, strategy and trade ideas, and for Phil's daily commentary which you can't live without, but there's more! features the most important and most interesting news items from around the web, all day, every day!

News: If you missed it, you can probably find it in our Market News section. We sift through piles of news so you don't have to.   

If you are looking for non-mainstream, provocatively-narrated news and opinion pieces which promise to make you think -- we feature Zero Hedge, ...

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