Monday, September 16, 2019

Silver Mine Output Drops for Second Straight Year; Industrial Demand Up

0

by Peter Schiff, Schiff Gold:

Global silver mine supply dropped for the second straight year as industrial demand rose for the first time since 2013, according to the World Silver Survey 2018 produced by the GFMS team at Thompson-Reuters and released by the Silver Institute this week.

Industrial demand for silver rose 4% to 599 million ounces last year. Solar panel fabrication primarily drove the growth. Photovoltaic demand climbed 19% as solar panel installations worldwide rose 24%. Brazing alloy and solder silver fabrication also increased, rising about 4%.

This Really Is The Everything Bubble: Even Subprime Mortgage Bonds Are Back

0

by John Rubino, Dollar Collapse:

Record student loan balances? Check. Trillion dollar credit card debt? Check. Six tech stocks dominating the Nasdaq? Check. Subprime auto loans at record levels? Check.

All that’s missing is subprime mortgages and we’d have every bubble base covered. Oh wait, those are back too, just under a different name:

Subprime mortgages make a comeback—with a new name and soaring demand
They were blamed for the biggest financial disaster in a century. Subprime mortgages – home loans to borrowers with sketchy credit who put little to no skin in the game. Following the epic housing crash, they disappeared, due to strong, new regulation, and zero demand from investors who were badly burned. Barely a decade later, they’re coming back with a new name — nonprime — and, so far, some new standards.

The Deflation/Inflation Debate

0

by Alasdair Macleod, GoldMoney:

“Naïve inflationism demands an increase in the quantity of money without suspecting that this will diminish the purchasing power of the money.” ― Ludwig von mises, The Theory of Money and Credit

It is hardly surprising that with equity indices stalling, the financial community is increasingly worried that the long, steady bull market is coming to an end. Naturally, this makes investors look for reasons to worry, and it turns out that there are indeed many things to worry about.

In fact, there are always things to worry about. Ever since the Lehman crisis, the Four Horsemen of the Apocalypse have been casting long shadows across the financial stage. But as financial assets have continued to rise in value over the last nine years, bearish fund managers, spooked by systemic risks of one sort or another and the perennial threat of a renewed slump, have been forced to discard their ursine views.

More Carmageddon at GM, Cuts Shift in Ohio, 1,500 Layoffs, as Cruze Sales Plunge. Production in Mexico Started in 2015

0

by Wolf Richter, Wolf Street:

Carmageddon but not Truckmageddon

The GM plant in Lordstown, Ohio, which only builds the Chevy Cruze compact car, already went through layoffs in 2017 when it trimmed its three shifts to two shifts and cut 1,200 workers, due to what GM said at the time was change in consumer preference from cars to SUVs, crossovers, and pickups.

These cuts brought the workforce at the Lordstown plant down to about 3,000 employees — 2,700 hourly and 300 salaried. Now the number is going to get cut in half.

In a 3 p.m. meeting on Friday between employees and management, workers learned that production will be further cut to just one shift, according to 21 News WFMJ in Ohio, based on “several sources inside the meeting.” Approximately 1,500 positions will be eliminated.

GOLD RISES BY $6.15 TO $1345.10/SILVER ADVANCES 17 CENTS TO $16.67

by Harvey Organ, Harvey Organ Blog:

YESTERDAY’S RAID FAILS AS EFP TRANSFERS EQUATE TO LOSSES IN COMEX OPEN INTEREST/CHINA AND RUSSIA UP THE ANTE ON TARIFF DISPUTE AND SANCTIONS/HUGE NUMBER OF SWAMP STORIES FOR YOU TONIGHT