The World Bank is downgrading its 2016 global growth forecast to 2.4% from the already sluggish 2.9% pace projected in January.According to the latest update by the institution, exporting emerging market and developing economies have struggled to adapt to lower prices for oil and other key commodities, and this accounts for half of the downward revision.Growth in these economies is projected to ad...Read More
Central Africa Republic will be allowed to resume diamond exports after a three-year ban that tried preventing armed groups from financing one of the bloodiest conflicts the region has seen in recent years by illegally selling local gems.The partial lifting of the export ban follows a deal between CAR's government and producers brokered by the United Arab Emirates last March. It will initially ap...Read More
Some of China's resource companies feel they have been misled by investment-seeking Canadian governments about just how difficult it is to establish successful mines in Canada, Ottawa's ambassador to Beijing has warned.That sour note may help to explain declines in Chinese investment in Canada in favour of the United States, and serves as a backdrop to recent diplomatic jousting between the two c...Read More
John Williams explains why he believes the dramatic decline of the U.S. Dollar will be the primary cause for hyperinflation and gives he view on owing gold.Walter J. "John" Williams has been a private consulting economist and a specialist in government economic reporting for more than 30 years. His economic consultancy is called Shadow Government Statistics (shadowstats.com). His early work in eco...Read More
We have Hillary all wrong: Americans hate a politician of the press' imagination. To her detractors, she’s either a bloodless automaton or the devil incarnate. Is it any wonder that she’s guarded? -SalonThis article posted at Salon suggests that much of the criticism aimed at Hillary occurs because she is not a man.As best we can tell, if we are properly following the article, Hillary'...Read More
‘Take that order and throw it the hell out’: Trump reportedly rails against campaign staff for telling surrogates to stop attacking judge ... Donald Trump advised prominent campaign surrogates to go after journalists who ask questions about a Trump University lawsuit and encouraged them to defend him against criticism of his comments about the US district judge presiding over the case....Read More
‘Irritation and anger’ may lead to Brexit, says influential psychologist ... British voters are succumbing to impulsive gut feelings and irrational reflexes in the Brexit campaign with little regard for the enormous consequences down the road, the world’s most influential psychologist has warned. Daniel Kahneman, the Israeli Nobel laureate and father of behavioural economics,...Read More
3 Signs of a Recession Janet Yellen Is Ignoring ... The Fed Chair's upbeat speech glossed over key warning signs. Federal Reserve Chair Janet Yellen was upbeat on Monday in a speech at The World Affairs Council, where she largely dismissed the negative implications of Friday's jobs report, which showed that the U.S. economy added just 38,000 new jobs, the worst monthly reading in nearly six years....Read More
We have Hillary all wrong: Americans hate a politician of the press' imagination. To her detractors, she’s either a bloodless automaton or the devil incarnate. Is it any wonder that she’s guarded? -SalonThis article posted at Salon suggests that much of the criticism aimed at Hillary occurs because she is not a man.As best we can tell, if we are properly following the article, Hillary'...Read More
‘Take that order and throw it the hell out’: Trump reportedly rails against campaign staff for telling surrogates to stop attacking judge ... Donald Trump advised prominent campaign surrogates to go after journalists who ask questions about a Trump University lawsuit and encouraged them to defend him against criticism of his comments about the US district judge presiding over the case....Read More
‘Irritation and anger’ may lead to Brexit, says influential psychologist ... British voters are succumbing to impulsive gut feelings and irrational reflexes in the Brexit campaign with little regard for the enormous consequences down the road, the world’s most influential psychologist has warned. Daniel Kahneman, the Israeli Nobel laureate and father of behavioural economics,...Read More
3 Signs of a Recession Janet Yellen Is Ignoring ... The Fed Chair's upbeat speech glossed over key warning signs. Federal Reserve Chair Janet Yellen was upbeat on Monday in a speech at The World Affairs Council, where she largely dismissed the negative implications of Friday's jobs report, which showed that the U.S. economy added just 38,000 new jobs, the worst monthly reading in nearly six years....Read More
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Mining stocks can be good investments, but you introduce risks that don't exist if you invest in physical gold and silver.I personally did quite well with miners in the early 2000's, but in hindsight a lot of it was simply due to luck.Stay away from the pump & dumpers, and any businesses that associate with them. Watch this week's video to get my current take on gold & silver stocks and the overal...Read More
Canadian miners Goldcorp (TSX:G), (NYSE:GG) and Teck Resources (TSX:TCK.A & TCK.B) (NYSE:TCK) are moving ahead with their new $3.5 billion mine in Chile's Atacama region, with a pre-feasibility study expected to be ready by the second half of 2017.The $3.5 billion mine will mean lower costs and improved capital efficiency - before joining El Morro and Relincho, the estimated costs for each proj...Read More
After four years of depressed prices for most commodities, especially gold, iron ore, coal, copper and oil, the end of the bear market seems closer than ever as raw materials continue to outperform bonds, currencies and equities.Based on the Bloomberg Commodity Index, which tracks returns from 22 raw materials, everything from soybeans to diamonds have experienced an important recovery this year.O...Read More
Former chief executive officer of the London Metal Exchange Martin Abbott is trying to set up an alternative metals-trading platform to existing venues.Brokers are said to be unhappy with the exchange's new fees as well as the sense that the LME is moving away from its traditional metals trading roots.The move, reports Bloomberg, follows months of talks with brokers and other concerned parties a...Read More
Los Pelambres mine.At Los Pelambres, a copper mine located in Salamanca, Chile and owned in part by Antofagasta Minerals 55 Komatsu mining trucks transport more than 365,000 tons of copper through 50 square kilometers of uneven terrain. In an effort to maximize asset utilization, the mine adopted a fast refueling system to reduce refueling time from 25 to about 5 minutes. Unfortunately, the ruptur...Read More
Financial analyst Andy Hoffman contends debt is the main problem with the economy. Hoffman says, "There is so much debt in it that even a tiny bit of interest rate increase is killing it further. Yes, they have had the stock market go up, but what have they created? They have created Dotcom valuations in an increasingly Great Depression era, which, by the way, are only being enjoyed by 1% of the p...Read More
Trump ... said he thinks the jobless rate is close to 20 percent and not the roughly 5 percent reported by the Labor Department. And, of course, Crudele reported, anyone who buys the 5 percent figure is a "dummy," according to Trump. This, in a nutshell, is typical of the usual economic conspiracy theories we have discussed in the past. -BloombergGood for Trump.The jobless numbers are actually par...Read More