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. Most of these items are from the “tangibles heavy” contrarian perspective of SurvivalBlog’s Founder and Senior Editor, JWR. Today, we look at how urban outmigration has created a rural land rush. (See the Tangibles Investing section.)
Precious Metals:
Poland Wants More Gold: “The ‘Most Reserve’ Of Reserve Currencies”
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Economy & Finance:
Roughly 4 in 5 Manhattan Office Workers Will Not Return Full-Time, Survey Says
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At Zero Hedge: Cash-Out Home Refinancings Hit Highest Level Since Global Financial Crisis
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Another from Tyler: “We Expect The Worst” – German Towns To Lose Millions In Greensill Bank Collapse
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At Wolf Street: Market Manias Galore, But Long-Term Interest Rates Smell a Rat
Commodities:
Thomas sent us this: $4.00 a Gallon Gas This Summer? Here’s How It Could Happen.
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OilPrice News reports: Oil Rig Count Jumps As WTI Moves Back Above $60
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Equities:
Seeking Alpha reports: Nasdaq tumbles, Dow Jones fights the flatline as 10-year Treasury hits 1.75%
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At Wolf Street: Stock Market Leverage Spikes in Historic Manner.
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John Hussman: How to Spot a Bubble`. Here is a key quote:
“The defining feature of a bubble is inconsistency between expected returns based on price behavior and expected returns based on valuations. If investors pay $150 today for a security that will deliver a single $100 payment a decade from now, but they also fully understand that they’ll lose 4% annually on the deal, without extrapolating past gains into the future, then we might say the security is overvalued, and we might question why investors would accept that trade, but we can’t call it a bubble.
But if investors pay $150 today for that security, because they look back in the rear-view mirror, decide that it “always goes up” over time, and convince themselves that expected future returns are always positive, then you’ve got a bubble. Discounting the future $100 cash flow of the security using any positive expected return would produce a price less than $100. So the positive returns expected by investors are inconsistent with the returns that would equate price with discounted cash flows. The size of the bubble is the fraction of the market price that represents expectational ‘hot air.'”
Forex & Cryptos:
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“We Are Hungry” – Violent Protests Erupt As Lebanon ‘Hyperinflation’ Accelerates
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Over at Seeking Alpha: Crypto-Alerts: Opportunities In Altcoins
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Federal Reserve’s Digital Dollar Push Worries Wall Street
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CNBC: Morgan Stanley becomes the first big U.S. bank to offer its wealthy clients access to bitcoin funds
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Morgan Stanley Eyes Bitcoin Exchange Acquisition After Crypto Rallies 1,500%
Tangibles Investing:
Urban Outmigration: The 2021 Land Rush Is On.
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“It’s Gone Parabolic”: Canadian Housing In One Shocking Chart
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 or via our Contact form.) These are often especially relevant because they come from folks who closely watch specific markets. If you spot any news that would be of interest to SurvivalBlog readers, then please send it in. News items from local news outlets that are missed by the news wire services are especially appreciated. And it need not be only about commodities and precious metals. Thanks!