Skulderna i världen har aldrig varit så höga som de är idag samtidigt som man trycker pengar för att hålla systemet igång. Guld och silver har varit en del av det monetära systemet under flera tusen år. De senaste dryga 40 åren har man dock valt att lämna dessa ädelmetaller utanför och det har medfört ökade skulder och ett ohållbart system.

IMF om företagens skulder i USA

Publicerad 2017-04-24 10:10:10 i Ekonomi,


In America alone, bad debt held by companies could reach $4 trillion, “or almost a quarter of corporate assets considered,” according to the IMF. That debt “could undermine financial stability” if mishandled, the IMF says.

The percentage of “weak,” “vulnerable” or “challenged” debt held as assets by US firms has almost arrived at the same level it was right before the 2008 crisis.


Är det någon som tror att det finns en fri marknad och att CB kommer minska sina köp av aktier och obligationer

Publicerad 2017-04-21 15:24:50 i Ekonomi,

A quick, if familiar, observation to start the day courtesy of Bank of America which in the latest overnight note from Michael Hartnett notes that central banks (ECB & BoJ) have bought $1 trillion of financial assets just in the first four months of 2017which amounts to $3.6 trillion annualized, "the largest CB buying on record."

As Hartnett notes, the "Liquidity Supernova is the best explanation why global stocks & bonds both annualizing double-digit gains YTD despite Trump, Le Pen, China, macro..."

Trump hypen fortsätter att avta och det kommer att synas i börskurserna

Publicerad 2017-04-20 14:47:03 i Ekonomi,

The index for current manufacturing activity in the region decreased from a reading of 32.8 in March to 22.0 this month. The index has been positive for nine consecutive months and remains at a relatively high reading but has moved down the past two months. Thirty-seven percent of the firms indicated increases in activity in April, while 15 percent reported decreases.


Publicerad 2017-04-20 12:53:42 i Ekonomi,

Check out this point and figure silver chart. $19, $21, $35, $44, $49 are probably the most important levels, courtesy of CIGA Gijsbert.




Perus silver produktion sjönk i februari med 12%

Publicerad 2017-04-19 11:09:52 i Ekonomi,

Peru is the second largest silver producer in the world, right behind Mexico.  According to the Silver Institute’s 2016 Interim Report, Mexico’s silver production is estimated to decline to 183 Moz in 2016 (189 Moz in 2015), while Peru’s silver production increased to 141 Moz (136 Moz in 2015).


Publicerad 2017-04-19 11:07:48 i Ekonomi,

Below, is long-term chart of silver (chart from, which shows the bullish outlook:

 sillver prices 2018 silver long term fractal

Lyssna på Mike Maloney

Publicerad 2017-04-18 14:54:36 i Ekonomi,

“You can’t control the politics of this planet.” — Mike Maloney

In this video, Mike Maloney sits down with Max Keiser and Stacy Herbert in New York to discuss how the outbreak of war impacts the price of gold and the international monetary system. Mike also reveals insights into his personal holdings including cryptocurrencies.

Guldet över 200 dagars

Publicerad 2017-04-13 10:24:56 i Ekonomi,

The break above the 200-day moving average has cleared the way for a run towards $1,300/oz. It means that gold continues to be one of the best performing assets in 2017 with gains of 10.3% year to date building on the 9% gains in 2016.


Lyssna på Gordon T Long och CHARLES HUGH SMITH

Publicerad 2017-04-13 10:12:48 i Ekonomi,

Where's the growth going to come from as the dominant generation makes less, borrows less, spends less, saves more and turns away from long commutes, malls and suburban living and abandons the worship of private vehicles? Toss in the convergence of technology (i.e. a mobile phone does everything) and the answer is growth is being replaced by DeGrowth.
Gordon Long and I explore these topics in our latest video program, MILLENNIALS: A Menacing Metamorphosis:

Ytterligare soft data som kommer in sämre än väntat

Publicerad 2017-04-05 16:12:53 i Ekonomi,


The "soft", i.e., survey data, rollover accelerated this morning, when Markit reported that in March the Service PMI posted a second consecutive decline, dropping from 53.8 to 52.8, missing expectations of a 53.1 print. This was the lowest reading since September 2016. 

New Business falls to 51.7 vs 53.6 in Feb, and was the lowest reading since March 2016. Additionally, the Outstanding Business index also fell vs last month.  Latest data showed input costs rising at a solid rate, although a desire to strengthen profitability meant higher costs were passed onto clients wherever possible, according to Markit.

Aktier eller bonds

Publicerad 2017-04-03 10:55:33 i Ekonomi,

So what does this simple chart tell us? Over short periods of time, the relative performance of stocks and bonds fluctuates around around a mean of about zero. When stocks outperform bonds by a large amount over a short period, that period of outperformance reverts back towards zero, either through time or performance. While we can’t possibly predict the performance of either stocks or bonds, what we can fairly confidently deduce is that further stock strength relative to bonds is unlikely over the coming months.

Är det dom ökade klyftorna i USA som får systemet att kollapsa

Publicerad 2017-04-03 10:13:51 i Ekonomi,

Correspondent W.S. noted that the inflection point for the top .1% (late 1970s) preceded the inflection point of the bottom 90% (around 1986): both increased their share of household wealth from 1978 to 1986, and then the share of the top .1% took off, essentially tripling from 8% to over 22%, while the share of the bottom fell precipitously from 36% to 23%.



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Roger Lundberg

Har varit verksam inom den finansiella marknaden i över 35 år. Har därmed varit med om både upp och nedgångar inom olika marknader. Min bedömning är att vi närmar oss en ny härdsmälta på de ekonomiska marknaderna och vill därför med denna blogg dela med mig av min erfarenhet.

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