Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. And it bears mention that most of these items are from the “tangibles heavy” contrarian perspective of JWR. (SurvivalBlog’s Founder and Senior Editor.) Today’s focus is on Barn Find Cars. (See the Tangibles Investing section.)
Precious Metals:
First up, at Gold-Eagle: Money Managers Left Gold Shorts At A Record Pace
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At the Silver & Gold Summit: Gold’s Rally Had Nothing To Do With Stocks Falling – Rick Rule
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This Metal Is Your Best Bet Right Now Says Commodities Trader
Economy & Finance:
CNBC: Fed indicates it’s staying the course on rate hikes despite growing criticism from Trump
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WEF on record job openings: There’s ‘one of the biggest mismatches in history’ in the US economy at the moment
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Evidence is now clear: Operation Choke Point hurt lawful businesses
Stocks:
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Over at Seeking Alpha, Victor Dergunov shows in charts that the market may have been de-FANGed: Amazon Is What Worries Me About The Market
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Summary of the markets on Monday: Dow swings more than 900 points as stocks end lower on U.S.-China trade worries
Tangibles Investing (Barn Find Cars):
This article from 2104 is instructive: How To: Barn-Find Cars
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At Hagerty: Barn Find Hunter: A new find around every corner
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Five Brilliant Tips for Picking Barn Finds
Provisos:
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos page for our detailed disclaimers.
News Tips:
Please send your economics and investing news tips to JWR. (Either via e-mail of via our Contact form.) These are often especially relevant, because they come from folks who particularly watch individual markets. And due to their diligence and focus, we benefit from fresh “on target” investing news. We often get the scoop on economic and investing news that is probably ignored (or reported late) by mainstream American news outlets. Thanks!
Good call on finding old vintage cars. Fixing these up and flipping them for twice or more what you paid is also a great hobby. The downside – you have to find a buyer who wants one bad enough.
Mom’s old T-Bird (1978) is such a car. It has not been run daily since the late 1990’s when my Dad passed away and Mom took up his Camry as her ride. The T-Bird only has a bit over 65,000 on the odometer, having been driven for 20 years. Always undercover.
I would love to go snooping around in other people’s barns. I’m just not that guy. There really isn’t much about me that says; Sure come on in and look around our property. Sadly
Musk shakes up SpaceX in race to make satellite launch window: sources
Reuters
October 31, 2018
https://finance.yahoo.com/news/musk-shakes-spacex-race-satellite-050444856.html
“It would be like rebuilding the Internet in space,” Musk told an audience in 2015 when he unveiled Starlink. “The goal would be to have a majority of long-distance Internet traffic go over this network.”
Mars is a smoke screen, he wants to put the telephone and cable companies out of business, all over the world…
Smart phones and solar chargers all over the world, no land based infrastructure needed…
Of course, he would control who gets access and who doesn’t, as well as content…
I have already found my “barn find.” It’s a 2004 GMC 3/4 ton diesel powered pickup truck with all the bells and whistles. It has just 1,800 original miles on the odometer, verified by both trusted members of his family, and the showroom condition of the vehicle. It still has that “new car smell” inside. He stores it inside his well-built, heated/cooled workshop and starts it very few weeks. Only one problem: He won’t sell. Yet.
Regarding “…biggest mismatches…”
I find the issue with wages not growing with low unemployment interesting. The author throws out some theories which might be true. I wonder how much a fearful workforce might be to blame.
This last recession was fairly long compared to some others I recall. I felt this was largely due to its mishandling. And it was also hyped more than I recall others although by some measures it was not as severe.
I joined the Navy in July of 1982 largely in response to the recession of that time. I looked it up a while back and unemployment peaked at 11.1% shortly after. However it turned around pretty quick. And even with the high unemployment rate I had quit a job to join the Navy.
I do not believe this last recession ever had unemployment reach 10% however the recovery was slow and the societal attitude even during recovery seems far more muted and cautious to me. So perhaps people have lowered their expectations or are more fearful than normal that the recovery will not last?
Unemployment numbers are total fantasy,check shadowstats, that compute the numbers the same way as 1980(before they were manipulated yearly or quarterly),believe accurate numbers 20%+.
My ‘barn find’ ended up being at a Cadillac/Infinity dealer outside of Dallas. 2004 6.0L Powerstroke Excursion 4X4 with less than 100K miles for $21,000. Bought it sight unseen (well there were a couple of cellphone pics) while standing in line for boarding at an airport a 1000 miles away. It’s pretty much the only option for a family with 4 or more kids wanting to pull a trailer over 7000 lbs.
Had a massive barn find 2years? ago,barn was damaged in storm and 100+ muscle cars had to be moved or sold(collector had been buying them up for years for posterity)