Posts Tagged ‘techno-triumphalism’

The Futility Economy

The Futility Economy

Oil pump at sunset

     It’s the first business day of the new year and oil is trading above $80 a barrel, which means the price has re-entered the danger zone where it can crush industrial economies. This is a central element of the predicament we find ourselves in. The US economy is essentially a Happy Motoring economy.  During the whole nervous period since the collapse of Lehman Brothers, American gasoline consumption hardly went down at all, though so many other activities collapsed, from house-building to trucking. Yesterday, The Seattle Times published a story with the idiotic headline: Oil Touches $80 on US Economy, Demand Optimism.  Apparently, they think high oil prices are "a good sign." 

     How much can a nation not get it? Would $100 oil ignite a new orgy of "consumer" spending and another round of investment in commercial real estate? Welcome to the Futility Economy. This is the economy where Nature and its material companion, Reality, punish us for our stupidity and fecklessness. This is the economy that will tear the United States apart, after it bankrupts us at every level, and mercilessly drives the population down by one-third through starvation, homelessness, violence, disease, and sheer political cruelty.

      Whatever you thought our economy was the past thirty years — whatever model of it you have in your head — that is definitely not what we are going back to. Like one of Dickens’s Yuletide ghosts, Reality is leading us by the hand into new circumstances. We resist like crazy.  We throw our hands over our eyes. We don’t want to look. We want to return to the comfort of our dreary routines — living in places that aren’t worth caring about, weaving endlessly in freeway traffic, drawing a paycheck at the air-conditioned cubicle, inhaling Buffalo wings by the platterful, with periodic side-trips to the state-chartered casino where there’s always a chance of scoring a lifetime’s income on one lucky bet. And at the end of the day, you can retire with a simulated prostitute on your laptop screen!  And not even have to fork over a dime — except perhaps for the Internet connection fee.

     Reality is taking us out of that familiar, if sordid, realm, whether we like it or not. Our destination is an


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Phil's Favorites

As schools prepare to reopen during COVID-19, are the kids alright?

 

As schools prepare to reopen during COVID-19, are the kids alright?

A seven-year-old boy waits at the bus stop in Dallas, Ga., for the first day of school on Aug. 3, 2020. Canadian schools are reopening in September, but is anyone really thinking about the well-being of the children? (AP Photo/Brynn Anderson)

Courtesy of Sydney Chapados, Carleton University

As September approaches and schools prepare to reopen, there are concerns for children, including the risk they might spread COVID-19, ...



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Biotech/COVID-19

As schools prepare to reopen during COVID-19, are the kids alright?

 

As schools prepare to reopen during COVID-19, are the kids alright?

A seven-year-old boy waits at the bus stop in Dallas, Ga., for the first day of school on Aug. 3, 2020. Canadian schools are reopening in September, but is anyone really thinking about the well-being of the children? (AP Photo/Brynn Anderson)

Courtesy of Sydney Chapados, Carleton University

As September approaches and schools prepare to reopen, there are concerns for children, including the risk they might spread COVID-19, ...



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Zero Hedge

Hotel Bailouts At Taxpayer Expense Coming Right Up

Courtesy of ZeroHedge View original post here.

Authored by Mike Shedlock via MishTalk,

Commercial Real Estate delinquencies have soared led by lodging.

Trepp research shows CMBS Delinquency Rate Surges for the Third Month; Nears  All-Time High.

...



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ValueWalk

Emerging Market Airports - Broyhill Asset Management

By Jacob Wolinsky. Originally published at ValueWalk.

Broyhill Asset Management investment thesis on Mexico’s airports.

The economic impacts of COVID-19 have been felt far and wide. The pandemic has indiscriminately affected both developing and emerging economies. The virus has shuttered some businesses but has also created some interesting opportunities for the long-term, value-oriented investor.

Emerging market air travel has been hard hit by the global pandemic. But air travel is key to economic development.  Airports are recognized as critical infrastructure, supporting employment and fostering growth in tourism, trade, and business.

Broyhill Asset Management’s investment thesis below, highlights how private airports carry lower risk than airlines, generate highe...



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Kimble Charting Solutions

History Says Gold Correction Could Lead to Big Rally!

Courtesy of Chris Kimble

Over a decade ago, Gold rallied past its 1980 highs and over $1000/oz at (1) on today’s chart.

That rise to new highs was met with a 30 percent correction at (2), followed by a blast off rally to new highs.

Is gold setting up for a repeat of its past?

Gold recently rallied past its 2011 highs and above $2000/oz. Could Gold soon turn lower for a sharp correction before another blast off toward $3000?

If so, Gold bulls should look for a pullback, before blasting higher. Stay tuned!

This article was first written fo...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Chart School

Silver Big Channel

Courtesy of Read the Ticker

Big channels are the sand pit of price action. Lets review some big trends of these past months.


GLD
- Moving higher to upper solid red line channel


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XAU
- Ready to pause, or simply explode.



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SILVER
- Ready to pause, or simply explode.


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Digital Currencies

Raoul Pal: "It May Not Be Worth Owning Any Asset Other Than Bitcoin"

Courtesy of ZeroHedge View original post here.

Authored by Turner Wright via CoinTelegraph.com,

Raoul Pal, CEO and founder of Real Vision, says Bitcoin may soon become his only asset for long-term investments.

image courtesy of CoinTelegraph ...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Members' Corner

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

 

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

No matter the details of the plot, conspiracy theories follow common patterns of thought. Ranta Images/iStock/Getty Images Plus

Courtesy of John Cook, George Mason University; Sander van der Linden, University of Cambridge; Stephan Lewandowsky...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Promotions

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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