by Wolf Richter, Wolf Street:
Huge aircraft orders, booming traffic, dozens of upstarts with easy mega-funding, fierce competition, already a big collapse, and allegations of shady business.
As of October 31, Airbus had 6,245 members of the A320neo family on order, of which around 250 had already been delivered. Even taking into account the large discounts which are the norm for large orders, the estimated value for this order book alone was in the region of about US$705 billion. Boeing had 4,783 members of the 737MAX family on order, with 241 already delivered, and an estimated order book value for this family of aircraft alone of US $526 billion.
The ‘Everything Bubble’ has popped
Gold and silver closed higher on the week in European trade this morning (Friday). Gold was up $18 at $1240.00, and silver up 35 cents at $14.51. The week saw very quiet trading in both contracts, partly due to US markets being closed on Wednesday for ex-President George Bush’s funeral.
– As Brexit looms, the Central Bank of Ireland has refused to discuss the location and value of Irish gold reserves
