There is a problem that Illinois faces. There is no actual right for a state to go bankrupt. That does not mean that no state has simply defaulted and never paid. A state hasn’t defaulted since Arkansas in 1933 during the Great Depression. However, that was also not the first state to simply not pay. […]

We did not elect the Weekly Bearish last Friday. This has level the week of August 29th as the low, which was the target turning point on the array at that time. Socrates Wrote: AS OF THE CLOSE OF Tue. Sep. 6, 2016: We should see a trend change come September in NY Gold Nearest […]

The Nikkei and Hang Seng closed virtually unchanged in anticipation of the US lunchtime numbers. The Hang Seng was the best performing Asian index closing up 0.45%. It was always going to be about the US Payrolls even as Europe opened marginally better bid. Overnight we had seen the USD take a bit of a […]

Asian equity trading was purely a follow-on from the US session retracing much the same issues and momentum. The Nikkei closed positive whilst attempting the stronger trend while the Shanghai trod water for most of the day, despite stronger than expected PMI data but then eventually lost all that in the final hour to close the day […]

We only elected the 1330 Daily Bearish. We did have another I did not mention at 1320. The next one we will see today. They are basis bearish futures not  the spot month of September.

QUESTION: Mr. Armstrong, What comes first? The banking Crisis or the Sovereign Debt Crisis? Thank you for bringing our attention to these events OD ANSWER: The central banks are trapped. They can no longer even hope to sell the bonds they have bought in a vain attempt to stimulate the economy. So government can, in theory, keep their rates […]

The Nikkei was not the main topic of conversation today in Asia as the Shanghai and Hang Seng both outperformed the Tokyo exchange. The HSI closing up 0.85% and was the best performer, until after Asian cash markets closed. Throughout the European and US time zone the JPY has weakened through the 103 handle and […]

We knew what to expect from the Nikkei cash this morning after we heard remarks late Friday and Saturday from all at Jackson Hole. On Saturday it was BOJ Governor Haruhiko Kuroda who said he would approve further monetary stimulus without hesitation! Having seen the Nikkei futures up 1% and the JPY weaken by 1% this […]

Ahead of Jackson Hole a mixed response in Asia with a choppy day for the Nikkei. Initially, the Nikkei saw a sell-off then an attempted rally just after lunch but that was to fizzle-out eventually closing down 1.1%. The JPY remained in a tight range and continues to play with the par level. There remains a […]

It’s official. Canadians now spend more on taxes than they do on food, housing, and clothing. Well, politicians have to eat first. Their kids have to be educated to rule their generation. The Fraser Institute has calculated that the average Canadian family now pays $34,154 in taxes in total, which includes all the “hidden” business taxes […]