Saturday, May 15, 2021

Neil Howe: Expect Creative Destruction In This Fourth Turning

by Adam Taggart, Peak Prosperity:

We’re entering the era when a new order violently replaces the old

Neil Howe, demographer and co-authour of the book The Fourth Turningreturns to the podcast this week. In our prior interviews with him, we’ve explored his study of generational cycles (“turnings”) in America which reveal predictable social trends that recur throughout history and invariably result in transformational crisis (a “fourth turning”).

Deutsche Bank To Launch €50 Billion “Bad Bank” Housing Billions In Toxic Derivatives

from ZeroHedge:

Just last week, Jeff Gundlach – in his latest DoubleLine investor call – cracked jokes that Deutsche Bank’s imploding stock, which has been hitting fresh all time lows virtually every day, has a major support area at €0.

Once again, he was on to something because now, just a few days later, the FT reports that the bank which was this close to nationalization in 2016, and failed to consummate a merger with that “other” German bank, Commerzbank, is preparing to roll out Plan Z: amid a deep overhaul of its trading operations (read: mass terminations), the biggest German lender is set to roll out a “bad bank” holding some €50 billion in toxic assets, in a plan that was quite popular in the depths of the global financial crisis.

Is this WHY people are panicking?

from JustInformed Talk:

Was this the Very Minute of Peak-Insanity in IPO Stocks?

by Wolf Richter, Wolf Street:

Those who bet on the most obvious short in the history of mankind got the heads handed to them.

Every stock-market IPO cycle has this minute. And afterwards is all downhill. And I wish I could be the guy who’d correctly pinpoint the very moment when peak-insanity in IPO stocks occurs, down not only to the day, but the very minute, and then bet on it correctly. So maybe I won’t be that guy, given that I’ve been on record for years as to why I’m not shorting anything anymore in this crazy market. But I have a candidate for this pinpoint minute of peak-insanity: Today at 9:59 a.m. Eastern Time.

Market Report: Coronavirus – black swan?

by Alasdair Macleod, GoldMoney:

It was another quiet week for the gold price, but silver lost out. In morning trading in Europe gold was $1579, up $7 since last Friday, while silver had lost 23 cents at $17.87. Silver’s underperformance relative to gold puts the gold/silver ratio at over 88 times, telling us that all the action is headline stuff, with little broader interest in monetary relationships. Silver can be expected to outperform gold when the wider investment community begins to understand that gold is in a bullish phase, and silver is a catch-up investment.

US Household Debt Breaks Another Record

by Peter Schiff, Schiff Gold:

The national debt has pushed above the $22 trillion mark, but it’s not just Uncle Sam borrowing himself into oblivion. US household debt climbed to a record $13.54 trillion in the fourth quarter of 2018, according to a report released by the Federal Reserve Bank of New York.

Total household debt (including mortgages) now stands $869 billion higher than the previous peak of $12.68 trillion in the third quarter of 2008 (right before the crash) and 21.4% above the post-financial-crisis trough reached in the second quarter of 2013.

HOLY GUACAMOLE! 3.6+ Buyers Of Silver For Every One Seller In Mexico RIGHT NOW!

from Silver Doctors:

Based on communication with the Central Bank of Mexico, the principal supplier of silver ounces to Banco Azteca, supply will likely be “exhausted” by year’s end!

(by Half Dollar) Silver Bugs, stackers and other smart investors, take note!

Silver Fever is running through Mexico!

Hugo Salinas Price has a stake in Banco Azteca, which are banks generally found inside of department/rent-to-own stores called Elektra.