NFTRH 319 Out Now

  • It’s a global game of Whack-a-Mole (currency devaluation) and in this game certain countries and economic zones make sense in some ways.  Japan for instance may be viewed as USA circa 2004 [edit] Yen over sold, USD example implies bounce w/ Nikkei correction before any opportunity presents.  Germany is also an exporter of machine tools, autos and equipment.  The US is interesting for a completely different set of dynamics.
  • India lifts its gold restrictions while Switzerland votes down the ‘Save our Swiss gold’ referendum.  Hype up, hype down.  Hype.
  • Macro indicators are in flux, trends are what they are and NFTRH 319 meandered from its usual format a bit and covered what I think needed to be covered considering year end dynamics (Santa seasonals) on the short-term and bigger picture views as well.
  • Inflation is losing out to its evil twin, deflation.  Even though this chart shows the T bond rising long-term (as if inflation has not been a problem) with the CPI rising right along with it.  Bond Vigilantes?  Hello?

usb.cpi

Suffice it to say, there is a lot going on and there are a lot of diverse signals in play.  Keep your heads screwed on straight and tune out the hype that is on 24/7 auto feed.

nftrh319

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