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You can ignore the markets if you want to. But, in time, the markets will not ignore you – Nigel Farage, MEP

Dangerous stuff being kicked around at a dangerous time. Our sense is both leaders were relieved by the success of ECB intervention to bring down Spanish and Italian bond spreads and they will continue to rely on Trichet’s monetary bazooka…

We’re watching an interesting development in Brazilian equities. Over the past five trading sessions the BOVESPA has doubled the performance of the S&P500, up 12 percent vs 6 percent

This is a stunning stat and shows how out of touch Washington and Wall Street are with Main Street. Imagine if gas prices spike $2.00 per gallon.

The front page of Germany’s top selling newspaper, Bild, “has forsaken its usual topless model in favor of gold bars… which the paper is giving away all day."

We’re not taking a victory lap here but think gold is now in the midst of a massive repricing as a legit global currency/store of value. Central banks are buying even at prices north of $1,500 per ounce. These are strong hands and not the…

Below is a pie chart representing the percentage of marketable U.S. treasury securities held by various investor classes as delineated in the latest Federal Reserve flow of funds report.

Editor’s note: The US government reported that the unemployment rate fell to 9.1%, with non-farm payrolls at +117,000. That exceeds forecasts. However, the labor participation rate was down to 63.9, the lowest since 1983. People are still…

The Dow Transportation Index was down almost 4 percent today and if there is any silver lining in the current market turmoil is that Trannies usually lead crude down, which will drop gas prices. The chart below shows the 12.2 percent swan…

Almost everything that happened last week is irrelevant given what looks like a U.S. debt deal. What we’re watching is how the relief rally holds and whether the Friday’s poor GDP data was a game changer. Looking under the surface of the…