Loading ...One thing Walts mentioned when they did little to nothing for these people and still aren’t yet brings up the 7 yr old boy whose mother, only survivor, grandparents and child had no warning to evacuate and were on the roof that collapsed in the flood. His last words were Jesus Please Help Me.
The perfect storm still evolving.
The dockworker strike may really affect farmers who market to the gulf. Things may get ugly very quickly.
Oklahoma had a serious hailstorm over a highly populous area that will cost hundreds of millions in insurance claims. The flooding results of the hurricane will cost billions. Insurance rates are going to skyrocket from recently higher rates. The reinsurance rates will seriously impact the large auto and property and casualty firms.
The yield curve going back to normal all but guarantees a very serious recession. I don’t see anyone in the current government that is remotely qualified to handle anything more serious than an ingrown toenail.
History tells us that a politically popular war follows a severe economic depression. It’s not too difficult to see what lies ahead. Seems the only variable left is when.
Enough bad news for tonight.
rno
Old Timer
Well said.
FWIW…
In case anyone wants to help out with the hurricane victims ,
here is a link to the Go Fund Me that President Trump has instigated.
Sad and strange that this “storm” so accurately appeared in an area that is not only pro-Trump, but has a lithium source.
People now four days into it, and no real national aid response, although they did send a contingent of the Tennessee National Guard over to the Middle East.
Anyhow,
https://www.gofundme.com/f/support-hurricane-helene-victims-with-president-trump
maddog
and yet nobody here in the US has even noticed. One reason why $3K plus is in the cards sometime soon.
For example: NVDA 249M shares traded – GLD 8.8M shares traded, SLV 22M shares traded
Imagine if that volume flipped…
Thought they’d bring the SM all the way back, doesn’t look that way.
Do we give our gains back tomorrow, or are we home free?
Now that the attack is over
the algo’s are engineering yet another squeeze on the SM. PM’S and the dollar ease a little, but the miners stabilize. Rates come back up, but Bitcoin loses more ground.
These markets are so ridiculous anymore.
At least pm’s aren’t crashing.
Up down, up down
We’re all over the map. Especially silver.
Clearly the driver today was war. So, we’ll see what happens now that the initial attack is over.
Just getting started I suspect.
The balloon is up
War Begins: Iranian Ballistic Missiles Rain Down On Israel
Update(1241ET): Bombs away… Israel’s military in a breaking news wire says rockets have been fired from Iran at Israel. The IDF says it has engaged its Arrow-2 and Arrow-3 anti-air defense missiles. CNN has confirmed that Iranian missiles have made impact on Tel Aviv.
The White House says it has convened an emergency meeting with VP Harris and national security teams. Warning alarms from Israel’s home front command are currently sounding in Jerusalem and elsewhere. Israel getting pounded:
Ipso
The Democrats remind me of the cheating husband or wife who married for the wrong reason. What’s really surprising is they don’t even hide it anymore. They’ll even go as far as murder for personal profit.
goldielocks
No easy answer there. I don’t know the solution. If they don’t destroy each other, in a hundred years they’ll still be killing each other.
Ipso
BTW while our blood has been shed because of them and their borders they vote for the open border communist DEI anti christian anti family Democrats here. With help like theirs as it turned out were better off without it.
Where’s Europe who started all this with their wars. Oh that’s right, starting another with Russia. Dumping that on us too. With friends like ours who needs enemies.
“It’s really hard to govern today. . . . The First Amendment stands as a major block.” – John Kerry.
Thus spake the Haircut-in-Search-of-a-Brain who ran for president in 2004. Something must have been amiss in Conception Central the night God made John Kerry. Maybe they were low on inventory up there for the stuff that goes inside the head, so they overdid it on the roofing material. Maybe they assigned him an extra testicle, too, in compensation. It certainly took balls (but not brains) to assert from the stage of the World Economic Forum (WEF) that free speech is cluttering up America’s march to totalitarianism.
Ipso
Right I know and if it keeps going they won’t think this country is worth fighting for. They are talking about bringing back the draft. The kids don’t have a thing to feel patriotic about and not even their wars. Isreal are saying they are our enemies too but they are only our enemies because of helping them..
goldielocks
“If we get pulled into war then the better make sure their DEI workers on the front”
Unfortunately I don’t think that will be the case.
Pretty obvious why a lot of young people don’t care to go into the military these days, woke policies, vaccine mandates, fighting in pointless (except profit motives) wars.
Buygold
I can’t understand why these dock workers are asking for a 70% raise when their getting good wages and benefits you mentioned and without even needing a high school diploma less it’s to start high game.
This is how unions lose American jobs with greed when it becomes outsourced or insorced.
When I watched the Captain dock the boat Royal Caribbean returning from 10 day the Mexican Rivera in Long Beach area, Maybe different kinda dock workers but you’d think you were still in Mexico. Hundreds of Hispanics and only hispanica sitting on the dock drinking something maybe on break I don’t know.
Not only that they might squeeze themselves out of a job with local competition with more education than them like when Starbucks figured out they could hire college graduates during the last recession.
I do like the idea though that they want part of their contract blocking new innovation that replaced their jobs with machines. But if they get to greedy they might replace themselves because if they cause more hardships at a time there already is people will not likely forget.
Perhaps it will be another reason to go back to making things at home While we still have one.
All the right war things are up
Bonds, oil up 4%, pm’s and the dollar. Bitcoin down 1% surprisingly.
The right thing is down too. The SM
Big change. I thought pm’s would die another slow death, but not yet I guess.
Ipao
If we get pulled into war then the better make sure their DEI workers on the front line because American patriots need to be at their own borders.
DEI is just part of the communist manifesto. To create instability, discourse,distrust and demoralize. So when it starts with Racist DEI or phobes or any other innuendos is communist at work not capitalism.
Alto’ just bleeding us dry
Someday this will change. As Ipso said, we’re probably lucky to have any gains. Usually they crush us with everything else.
Buygold
Sure seems like Israel has been prodding the Arabs-Iran to make a response to it’s attacks. Attacked Syria recently. Sending troops into Lebanon. Assassinating Hezbollah and Israeli leaders. Israel would love to be green lighted for attacks on the Iranian nuclear facilities. The situation has really dangerous possibilities.
I think our bought and paid for administration will let Israel pull us into the war.
This dock workers strike could certainly damage the US economy! 77% over 6 years Yikes!
Ipso
I do get the sense that Israel wants to neutralize Iran and their proxies once and for all.
Do you think that’s why the early rally and sell off in the SM? War hasn’t seemed to help us much in the past. I’m also thinking about the dockworkers debacle. Who knows?
I think it’s going to be hard to hold the gains, especially in the shares without volume. Good first hour though
PM shares not doing much with the nice gain in gold. I guess we should be happy that we’re up with the SM down.
A lot of juniors haven’t even opened yet …
MSM says Iran readying a ballistic missile strike on Israel. Seems to me this must be what Israel wants?
First attack on silver
Seems that silver is always their first line of defense when they want to take us out. Shares of course always eager to follow.