By Cory The Spread Between WTIC and Brent Is Widening
We focus a lot on the WTIC price but when I was chatting with John Rubino off mic he brought up the widening spread between WTIC and Brent. John has some comments on what this means extending beyond just the oil market.
By Cory My Presentation From The Cambridge House Show
Here is the recording of my presentation from the conference I was at in Vancouver last week. The link was already been posted on the weekend show in the comments but I wanted to create a dedicated post to get all of your feedback. Please let me know what you liked and what you think I missed.
To directly contact me please email me at Fleck@kereport.com.
I hope everyone in Canada is having a good Victoria Day!
Brill, the author of Tailspin, is the founder of Court TV and the American Lawyer
Lately, most Americans, regardless of their political leanings, have been asking themselves some version of the same question: How did we get here? How did the world’s greatest democracy and economy become a land of crumbling roads, galloping income inequality, bitter polarization and dysfunctional government?
As I tried to find the answer over the past two years, I discovered a recurring irony. About five decades ago, the core values that make America great began to bring America down. The First Amendment became a tool for the wealthy to put a thumb on the scales of democracy. America’s rightly celebrated dedication to due process was used as an instrument to block government from enforcing job-safety rules, holding corporate criminals accountable and otherwise protecting the unprotected. Election reforms meant to enhance democracy wound up undercutting democracy. Ingenious financial and legal engineering turned our economy from an engine of long-term growth and shared prosperity into a casino with only a few big winners.
These distinctly American ideas became the often unintended instruments for splitting the country into two classes: the protected and the unprotected. The protected overmatched, overran and paralyzed the government. The unprotected were left even further behind. And in many cases, the work was done by a generation of smart, hungry strivers who benefited from one of the most American values of all: meritocracy.
This is not to say that all is rotten in the United States. There are more opportunities available today for women, nonwhites and other minorities than ever. There are miracles happening daily in the nation’s laboratories, on the campuses of its world-class colleges and universities, in the offices of companies creating software for robots and medical diagnostics, in concert halls and on Broadway stages, and at joyous ceremonies swearing in proud new citizens.
Yet key measures of the nation’s public engagement, satisfaction and confidence – voter turnout, knowledge of public-policy issues, faith that the next generation will fare better than the current one, and respect for basic institutions, especially the government – are far below what they were 50 years ago, and in many cases have reached near historic lows.
It is difficult to argue that the cynicism is misplaced. From matters small – there are an average of 657 water-main breaks a day, for example – to large, it is clear that the country has gone into a tailspin over the last half-century, when John F. Kennedy’s New Frontier was about seizing the future, not trying to survive the present.
For too many, the present is hard enough. Income inequality has soared: inflation-adjusted middle-class wages have been nearly frozen for the last four decades, while earnings of the top 1% have nearly tripled. The recovery from the crash of 2008 – which saw banks and bankers bailed out while millions lost their homes, savings and jobs – was reserved almost exclusively for the wealthiest. Their incomes in the three years following the crash went up by nearly a third, while the bottom 99% saw an uptick of less than half of 1%. Only a democracy and an economy that has discarded its basic mission of holding the community together, or failed at it, would produce those results.
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Meanwhile, the celebrated American economic-mobility engine is sputtering. For adults in their 30s, the chance of earning more than their parents dropped to 50% from 90% just two generations earlier. The American middle class, once an aspirational model for the world, is no longer the world’s richest.
Most Americans with average incomes have been left to fend for themselves, often at jobs where automation, outsourcing, the decline of union protection and the boss’s obsession with squeezing out every penny of short-term profit have eroded any sense of security. In 2017, household debt had grown higher than the peak reached in 2008 before the crash, with student and automobile loans staking growing claims on family paychecks.
Although the U.S. remains the world’s richest country, it has the third-highest poverty rate among the 35 nations in the Organisation for Economic Co-operation and Development (OECD), behind only Turkey and Israel. Nearly 1 in 5 American children lives in a household that the government classifies as “food insecure,” meaning they are without “access to enough food for active, healthy living.”
Beyond that, too few basic services seem to work as they should. America’s airports are an embarrassment, and a modern air-traffic control system is more than 25 years behind its original schedule. The power grid, roads and rails are crumbling, pushing the U.S. far down international rankings for infrastructure quality. Despite spending more on health …read more
Another week has past and we had some very important closes. The 10 year yield is at levels not seen since 2011 and the USD is finally in an uptrend after falling for a year and a half. This has gold falling and closing below $1,300 with the stocks remaining in their range. After the resource conference I was at this week I can confidently say that we are at the lows in terms of interest in the sector.
Please keep in touch by emailing me at Fleck@kereport.com. I love hearing about the companies you are all following and the questions you have about the sector!
Segment 1: Adrian day kicks off the show addressing the overall metals markets and where he sees value.
Segment 2: The peak gold argument is disputed by the CPM Group’s Jeff Christian.
Segment 3: Combining gold with a cryptocurrency we get an update from Canamex Gold CEO David Vincent and the Security Token Offering (STO) that is underway.
Chris Temple wraps up the market focusing on some major markets that are closing the week at multi year or all time highs. We look at the USD, yields (especially the 10 year), and the Russell 2000. All with an assessment of the overall strength of the US markets.
By Cory The Factors And Markets Keeping A Lid On Metals
With the recent selloff in gold there a number of bulls that say the sentiment is so low that a bounce is coming. While this is true Jordan Roy-Byrne joins me to discuss why he thinks this bounce will be weak. There are a number of factors that are limiting the upside potential of a breakout.
By Cory A Crypto vs Resource Investment Conference
I think you all have heard how slow the resource investment conference was that I attended this week. If not please listen to the editorials on Wednesday with Chris Temple and David Erfle. To contrast the attendance at that show I chatted with Valentin Shmid, Business Editor at The Epoch Times, who attended a cryptocurrency conference in New York. The conference was packed but Valentin had some interesting comments about the people who were attending and exhibiting.
Ryan Wilday, technical analyst at Avi’s Elliot Wave Trader website joins me to update what his technicals are telling him about the sector. He thinks a tradable bottom is near and has some much higher targets.
By Cory New Dimension Resources – Now Public With The Mariana Resources Argentina Assets
I have revived a number of emails asking what the deal is with the Argentina assets that Mariana Resources held before being bought out by Sandstorm last year. We finally have our answer! New Dimension Resources (TSX.V:NDR) has just closed a private placement and is now trading.
I got a chance to chat with the President and CEO Eric Roth who you might remember from Mariana and Extorre. We review the 3 main assets in Argentina and look ahead to drilling that will be starting very shortly.
If you have any questions for Eric or I please email me at Fleck@kereport.com.