Archives for December, 2014

German Chancellor Merkel Won’t Let Ukraine Get in the Way of Business

The Ukraine crisis has moderated for now, but it should have awakened the world to the new “great game” being played in Eastern Europe. Vladimir Putin is positioning Russia to control the global energy trade, knowing that he holds the trump card: Europe’s dependence on Russian oil and gas. This epic struggle between the US […]

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Mastering the Art of Financial Backtalk

Alan Greenspan has popped back into the limelight and confirmed some of my worst fears (not that they needed much confirming). Here’s a recap of statements Greenspan made at the New Orleans Investment Conference: The Federal Reserve’s primary mission is to support out-of-control government spending. To do so, it’s “created” trillions of dollars. Regardless of […]

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Outside the Box: How the Rising Dollar Could Trigger the Next Global Financial Crisis

  This week’s Outside the Box continues with a theme that I and my colleague Worth Wray have been hammering on for some time: the very real potential for a rising dollar to trigger the next global financial crisis. We are concerned about the consequences of multi-speed economic growth around the world and the growing […]

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Russia’s Unfazed by Falling Oil Prices

Oil is not quite as powerful a weapon against modern-day Russia as one might think. By arguing that the slump in oil prices will finish off Russia just like it did the Soviet Union, Ambrose Evans-Pritchard, writing in the Daily Telegraph, is forgetting how far Russia has come since those dark days. It is true […]

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Run Away from the Economic Tsunami

This warning comes from “Big Al” Greenspan, age 88. He’s been in the news a lot lately, speaking with Gillian Tett of the Financial Times at the Council on Foreign Relations and at the New Orleans Investment Conference. After reading several reports of both events, I spoke with Casey Research colleagues who’d attended the conference […]

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Doug Casey on Russia and Russian Stocks

Nick: Okay Doug, so looking around, what markets look cheap to you today? Doug: I saw recently that many stocks in Greece are selling at around four times earnings. But I don’t know what the quality of their earnings are. Of course, the dividend yield on Greek stocks isn’t very high, and dividends are, I […]

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7 Questions Gold Bears Must Answer

A glance at any gold price chart reveals the severity of the bear mauling it has endured over the last three years. More alarming, even for die-hard gold investors, is that some of the fundamental drivers that would normally push gold higher, like a weak US dollar, have reversed. Throw in a correction-defying Wall Street […]

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Russia and China’s Natural Gas Deals Are a Death Knell for Canada’s LNG Ambitions

In recent years, a number of Asian companies have been betting that Canada will be able to export cheap liquefied natural gas (LNG) from its west coast. These big international players include PetroChina, Mitsubishi, CNOOC, and, until December 3, Malaysian state-owned Petronas. However, that initial interest is decidedly on the wane. In fact, while the […]

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Outside the Box: The World’s Dumbest Idea

  In today’s Outside the Box the redoubtable James Montier of GMO lifts his lance to prick the underbelly of the Mighty SVM. (That’s Shareholder Value Maximization, for you newbies.) “The world’s dumbest idea” (among many candidates in the world of finance), says James, citing none other than “Neutron Jack” Welch in support. After noting […]

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Judge This Country by Its Enemies

Pop quiz: can you name this free-market jurisdiction in the Western hemisphere? Here are some of its attributes: Personal income tax: NONE Corporate income tax: NONE Capital gains tax: NONE Taxation of dividends: NONE Taxation of interest: NONE Withholding taxes: NONE Payroll tax: NONE Social Security tax: NONE Wealth tax: NONE Inheritance/estate tax: NONE Property […]

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