Gold’s Line in the Sand: Next Downside Target Is Around $700, Even if It Breaks Up First

Many analysts have been so excited that gold broke to new highs, above $ 1,262, in late February. I was excited as well, but for a different reason. I’d forecast that gold could bounce back just above the July 2016 highs of $ 1,373, to around $ 1,400 or $ 1,450. And ANY bounce, no matter how high it went, would be a good place to get rid of any gold you’re still holding. Get rid of it, you should because the precious metal is going down. All the way to $ 700 an ounce within a year or so, […]

Read More

Current Target: Populism & Europe’s False Trend

One of my favorite sci-fi series is The Foundation Trilogy by Isaac Asimov. The book was first published in 1951 and is a grand “space opera” that takes place in the distant future. At the heart of the series (and what makes it so interesting) is the fictional philosophy of “psychohistory”. Psychohistory is a blend between mass-crowd psychology and probability theory. It’s founded on the principle that while it’s impossible to predict actions at the singular individual level, you can still successfully apply statistical probability theory at the group level to predict the general flow of future events. Asimov discusses […]

Read More

Credit Card Companies Specifically Target Less Educated And Less Sophisticated Americans

The big credit card companies don’t make much money off of those that pay their bills on time, and so they often specifically target less educated and less sophisticated consumers that don’t really understand the dangers of credit card debt.  The goal is to find people that will carry credit card balances from month to month, because that is where the real money can be made.  The average U.S. household that carries balances from month to month has approximately $ 15,310 in credit card debt right now.  At an average interest rate of about 15 percent, the profits pile up […]

Read More