POITOU, FRANCE – “How about your man, Trump?” was the conversation starter at last night’s cocktail party.
We heard a version of that question at practically every social event this summer here in France.
It is an invitation to make a comparison: U.S. President Trump, impetuous, moronic, and demagogic, versus French President Macron, the careful, civilized technocrat.
But this time we were ready…
“Ha… What about your man, Macron?” we shot back. “He’s just as big a jackass.”
If there was any doubt, it was erased yesterday.
Both men are relatively new to politics. Both led surprise assaults on establishment candidates. (Macron even started a new party.) Both won.
But they are very different men. Donald Trump is all action and reaction… us versus them. He struts upon the world stage… the cock of the walk… ignorant and spoiling for a fight.
Emmanuel Macron is slicker. Smarter. Younger. Better looking. But probably just as malevolent.
He is a Swamp Creature – a former investment banker and now card-carrying central planner who will make life richer for a few insiders and tougher for everyone else.
Macron’s speech yesterday about his vision for the European Union (EU) at the Sorbonne University in Paris spelled it out. He wants to give more power to super-state apparatchiks and their cronies, creating a bigger, more unified EU government.
Ultimately, Trump and Macron want the same thing: more power and more admiration.
And we know now – because we’ve connected the dots – that the more power politicians and their crony friends get, the less wealth and liberty is left for us.
The Diary credo:
There are only two ways of getting what you want – win-win or win-lose. Win-win deals generate wealth. Win-lose deals redistribute and destroy it. Politics only does win-lose deals. The more politics you have… the worse off you are.
There… now that’s settled… let’s open our eyes to what is going on around us.
The trucks started coming about 7:30 a.m. When there were about 20 of them, we went out to have a look.
“Oh… we’re doing a hunt today,” explained the organizer. “We’re actually hunting on the neighboring farm, but we can’t control where the pigs will go. They may come over here.”
The “pigs” are wild boar.
The hunters parked their cars and trucks along the little road in front of our house. Two of the trucks carried kennels of hunting dogs, already yelping with excitement.
We made our way through the group of 30 or so… all dressed in dark green and rubber boots. We said hello in the French fashion, shaking each hand, one by one. Suddenly, as we bent to take a hand, one of the hunters startled us by giving us a kiss on the cheek.
Dressed like the others and with short, cropped hair, we had barely noticed: She was a woman.
“More and more women are hunting,” the head man explained.
“A few years ago, women weren’t allowed to join a hunt like this. It was just not done. But everything is changing…”
Among the armed men and women was our old friend Alain.
A dignified man of about 75, Alain lost one of his sons over the summer. The young man died in a traffic accident.
“We’re so sorry…” we began. Alain got a tear in his eye. We thought it might be better to continue the conversation later.
“We’ll come over to see you. How about tomorrow?”
“Yes…” he said, still choking slightly.
“Poor Alain,” a neighbor whispered later. “It was not his first child to die. Years ago, a daughter was killed when she was struck by a farm tractor. She was only three years old. Alain was driving the tractor. He never forgave himself. And now this… Poor Alain.”
“Yes… he goes to the cemetery every day,” added another whisperer.
Then the organizer called everyone to attention.
“Look, there aren’t quite enough of us. So, we have to be careful. We’re going to divide into teams. Each team will take one side of the farm, either along the public road or one of the farm roads. Pay close attention to your angle of fire. We don’t want any accidents.”
After a few minutes of organizing, the group of hunters moved out, each to his position around the farm.
Then the dogs would be unleashed and sent into the woods. They would drive the boars out, whereupon the hunters would shoot them as they tried to make their escape.
As we write… we have still heard no shots fired.
Meanwhile, back on the World Wide Web comes news that the economy is not the only thing being undermined by the feds’ win-lose deals. So is the oldest win-win deal on the planet: the family.
“The only really happy folk are married women and single men,” said Baltimore newspaperman H.L. Mencken.
If that is true, happiness among the male part of the population is in a major bull market. The New York Times reports:
Fewer Americans are marrying over all, and whether they do so is more closely tied to socioeconomic status than ever before.
In recent years, marriage has sharply declined among people without college degrees, while staying steady among college graduates with higher incomes. […]
Currently, 26% of poor adults, 39% of working-class adults, and 56% of middle- and upper-class adults ages 18 to 55 are married, according to a research brief published from two think tanks, the American Enterprise Institute and Opportunity America.
In 1990, more than half of adults, regardless of incomes, were married, with much less difference based on class and education: 51% of poor adults, 57% of working-class adults, and 65% of middle- and upper-class adults were married.
Wait…. You’re probably thinking: He’s not really going to blame the collapse of marriage rates on fake money and the feds, is he?
You bet he is…
By Jeff Clark, Editor, Delta Report
I’ve been really nervous over the past two weeks.
You see, I sold out of my gold stock trading positions a couple of weeks ago. Ever since then, I’ve been anxiously looking for a spot at which to get back into the sector.
I like owning gold stocks. I think the sector will be much higher many months from now. And I’m uncomfortable not having any gold positions in my trading portfolio.
Selling out two weeks ago was certainly the right call. The VanEck Vectors Gold Miners ETF (GDX) is down about 8% since then. Now I’m trying to figure out the best spot at which to get back into the sector. Here’s what I’m looking at…
Take a look at this 60-minute chart of GDX…
Over the past two weeks, GDX has been making a series of lower highs and lower lows. During that time, the MACD momentum indicator (a technical indicator that tracks the general momentum of a security) has also been declining.
And, as GDX dropped to lower lows, the MACD indicator hit lower lows as well. This action confirms the downtrend and it usually indicates that any bounce will be temporary.
So, it looks to me like there’s still a bit more room for the gold sector to decline from here. Perhaps GDX will make another lower low and decline to the blue support line on the chart at about $22.70.
But, here’s the good thing…
The MACD has bounced back high enough now that if GDX makes a lower low soon, then the MACD indicator will likely make a higher low. This “positive divergence” often occurs before a meaningful reversal. At the very least, it should lead to a tradable bounce in gold stocks.
Since this is a 60-minute chart – where patterns tend to play out within 3-5 days – there’s a chance traders may get a shot at buying back into the gold sector later this week, or early next week.
– Jeff Clark
P.S. My gold stock analyses are only a small part of how I provide my Delta Report subscribers with huge, overnight gains.
Recently, I unveiled my earnings trading algorithm to my readers. It’s a system that predicts – with 90.2% accuracy – winning trades that emerge from the fast stock action of quarterly earnings reports.
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Most Stocks Aren’t Good Investments
That’s the conclusion from a recent study from a finance professor at the W.P. Carey School of Business. And it gets even stranger. The study found that only 4% of all publicly traded stocks account for all the net wealth earned by investors since 1926.
Buy Low, Then Buy More High
Conventional investing wisdom suggests that when an index hits a new high, it’s time to sell. But according to the numbers, this could actually be the perfect time to buy.
A New Crime Wave Is Here
Violent protests have made headlines in recent weeks. But behind this, there is a new criminal element that is growing and strengthening. And this one can’t be stopped with more locks, guards, or security cameras.
In today’s mailbag, readers try to make sense of the fake-money system…
I just read, with interest, your Diary. Since 2007, I’ve been trying to figure out how this fake-money experiment we are in is going to play out. To tell the truth, I thought that we, especially in Italy, would see the end in autumn 2011. Back then, the forces behind the curtain forced the prime minister out of office to replace him with a non-elected technocrat, followed by another and another. Democracy never existed here.
– Dietmar B.
I agree with your concept of “fake money” but I think you should look at two more ideas to explain the loss of productivity. Financial accounting in monetary terms ignores some important external costs and makes fake money more credible.
An easy example is to look around for discarded fast-food remnants. The corporate giants “download” the cost of remediation to the community with no responsibility for the litter. Other industrial concerns are now implicitly or explicitly being held responsible, and in my jurisdiction, we now have tire recycling fees, paint can environmental fees, electronic disposal fees, a carbon tax, and some I likely haven’t noticed yet. So far they haven’t figured out that I inhale oxygen and exhale CO2, and should be taxed appropriately.
– Robert T.
I agree with your analysis of real vs. fake money. However, I believe you are overstating the amount of fake money. Real money is not only that backed by gold, but also that backed by real collateral, such as real estate, business assets, and inventories, etc. To be sure, gold is still backing the dollar in the form of a Treasury gold certificate, and if this asset is marked to market, represents some $300+ billion.
– Erich K.
I believe you are doing a much-needed service, providing an alternate viewpoint on the fake-money system and the other economic shenanigans going on in the U.S. and the world. Your commentary leads me to believe you think Janet Yellen and the Federal Reserve Board have been able to push down interest rates to near zero.
What if we are instead in a global deflationary cycle, which seems to have bottomed out? This means perhaps interest rates, as well as global economic growth, are about to take a long-term upswing? Could Janet Yellen’s decision to pay back the debt be spurred on by good ole Trumpster? Maybe we can all be Keynesians after all…
– Paul T.
Trump has gotten plenty of flak from the mainstream media and establishment politicians. But according to our friends at Casey Research, he’s quietly been making his critics rich thanks to this one government policy. Get the full story right here.