by Kerry Lutz, Financial Survival Network:
John Rubino is back… Has the tech stock romp turned into a stomp? Tech stocks are sinking. Facebook has been called out by Snowden as a surveillance site masquerading as a social network. It’s good to be like, isn’t it? Heckla mining just made a major acquisition, a bullish trend is starting. More junior acquisitions on the way.
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by Turd Ferguson, TF Metals Report:
Here’s some more helpful information from our friends at Hard Assets Alliance. Please be sure to keep them in mind for all of your precious metal needs.
8 Reasons Why Your Portfolio Needs Crisis Insurance
By Olivier Garret, Founder and CEO of Hard Assets Alliance
We’ve recently witnessed what I consider to be a turning point for the stock market.
Just when many predicted another growth year for the markets, on Monday, February 5, the Dow plunged by 1,600 points—its greatest point drop in history.
by Wolf Richter, Wolf Street:
Note the bifurcation: weakest plunged 80% from peak, strongest “only” 30%.
This is my now classic twice-a-year progress report on the decline of mall REITs. The series began in May 2016, shortly before the peak of mall REITs in July 2016. Their shares started getting hit in August that year, and the pain hasn’t abated since.
All along the way, the industry and its Wall Street analysts soothed our rattled nerves with assurances that the brick-and-mortar meltdown didn’t actually exist, that there were more new stores being opened than closed, that the selloff at each stage was overdone and that these were buying opportunities.
by Chris Marcus Miles Franklin:
On Monday the Commerce Department released data indicating a second straight month of weak home sales. Economists have cited “weather and the volatile nature of the new-home sales data” as the primary factors. Although given the recent rise in interest rates, as well as the reaction by the stock market, it’s worth considering the drop in sales might not be completely random, as well as what might occur should rates continue to rise.
“Following the significant disappointment of January’s existing home sales, hopes were high for a rebound in new home sales (+3.5% expected after December’s 9.3% plunge) but those hopes were crushed as January new home sales crashed 7.8% MoM.”
Certainly two months of data are not enough to declare an official end to the real estate bubble. But the fact that it has happened at the same time that interest rates have risen seems hardly a coincidence.