Dumbass Biz Wires on Copper and La Escondida

By Otto Rock

It takes a special sort of ignorance to call the effects of a strike at La Escondida (BHP et al, world’s biggest copper mine) wrong all the way down. Then switch and get it wrong all the way back up. But fear not, you too can find that brand of dumbassery any time you open the mining trade papers.

Facts: The 2017 strike didn’t affect copper prices, the 2018 threatened strike did not affect copper prices, the end of the threat is not affecting copper prices. And if you don’t understand why, perhaps you too should stop reading the morons who pretend to be thought leaders in the industry.

Support 100% ad-free Biiwii.com by making a donation of your choice!

Or better yet, subscribe to NFTRH Premium for an in-depth weekly market report, interim updates and NFTRH+ chart and trade ideas to get even more bang for your buck. You can also keep up to date with plenty of actionable public content at NFTRH.com by using the email form on the right sidebar. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.

Welcome to Bad Faith

By James Howard Kunstler

Surely last week this foundering nation finally reached Peak Social Justice Warrior Bullshit with The New York Times hiring of genocide-for-white-people advocate Sarah Leong, 30, as an op-ed writer on tech matters. Apparently, one angle of the tech world Sarah Leong overlooked was the mile-wide Twitter trail of messages she left over the past ten years declaring that white people should be “canceled out,” “made to live underground like groveling goblins,” or this pungent one from the Reinhard Heydrich playbook: “Oh man it’s kind of sick how much joy I get out of being cruel to old white men.”

When this big glob of shit hit the Internet fan, The Times’s HR department cranked out the pathetically lame explanation that Ms. Leong was merely “mirroring” or “counter-trolling” malicious tweets she had received over the years, “imitating the rhetoric of her harassers.” That left the old newspaper and its readers gratified for a day or too… until a whole new bale of Sarah Leong tweets was discovered dissing The New York Times and virtually all of its other op-ed writers in the most opprobrious terms.

Continue reading Welcome to Bad Faith

Summer of Tough Love

By James Howard Kunstler

The golden Colossus of Trump looms over the national scene this summer like one of Jeff Koons’s giant, shiny, balloon-puppy sculptures — a monumental expression of semiotic vacancy. At the apogee of Trumpdom, everything’s coming up covfefe. The stock market is 5000 points ahead since 1/20/17. Little Rocket Man is America’s bitch. We’re showing those gibbering Asian hordes and European café layabouts a thing or two about fair trade. Electric cars are almost here to save the day. And soon, American youth will be time-warping around the solar system in the new US Space Corps!

Enjoy it while you can. Events are converging ominously this summer in the direction of unwinding expectations and serial train wrecks of finance and politics. Mr. Trump has made hubris simple by bragging on the supposed triumphs of “his” economy. When it blows up, he’ll own that, too, and the second half of 2018 liable to be a debris-field of shattered national economies, zombie corporations, and floundering institutions.

Continue reading Summer of Tough Love

One Day to the Next

By Notes From the Rabbit Hole

So yesterday market participants were instigated by the media to get hysterical about interest rates. I saw a prominent headline talking about how a market expert (whose name escapes me) forecast that when 10yr yields go through 3% stocks are going to go down big.

Then today, as risk flies ‘off’ ostensibly due to the Trump/China tariff war, yields tank, Treasury bonds rise and stocks go down anyway. Ha ha ha…

If you click the headline they will tell you all you need to know, and way more than you need to know as a rational and calm market participant.

Meanwhile, the Continuum had indicated that a caution point was at hand long ago.

tyx Continue reading One Day to the Next