Talking about the downside of bitcoin is like running into a wildfire. Nobody wants to do it when the upside is heading into the stratosphere. Who's talking about a top, much less a bottom? Yet there is a real downside to bitcoin and other cryptocurrencies. It's almost impossible to quantify, but you can look at some red flags and exercise some caution. -- Bitcoin can still be hacked and... read more

Here is an astonishing Christmas prediction from a legend. 3 years ago legendary Richard Russell, the Godfather of newsletter writers, made this astonishing prediction just two days prior to Christmas:  “When I was young, around age 21, I decided to plan out my life. I bought a book of compounding tables and sat down to figure out how to be rich and retired at age 65. Unfortunately, no... read more

Doug Kass' 15 Surprises For 2018: FANG Crackdown, Gold All-Time-Highs, Stocks Slump "The missing step in the standard Keynesian theory [is] the explicit consideration of capitalist finance within a cyclical and speculative context . . . finance sets the pace for the economy. As recovery approaches full employment . . . soothsayers will proclaim that the business cycle has been banished [an... read more

(Bloomberg) -- The Federal Reserve published a fresh set of economic forecasts last week covering the next three years. Economists have been trying to make sense of the 2018 outlook ever since. Here’s the conundrum. Fed officials raised their forecast for growth by four tenths of a percentage point for next year, to 2.5 percent. That’s comfortably above the 1.8 percent rate they estimate t... read more

Paris (AFP) - The global economy is enjoying a Goldilocks moment, with growth and inflation neither too hot nor too cold. But a decade after the collapse of the US subprime mortgage market triggered a global crisis, there are warnings that debt is becoming a big risk, lurking in the next room like the scary bears in the children's tale. The outlook for the global economy appears bright for th... read more

Gold has been battered lower in recent months as gold-futures speculators fled in dread of the Fed-rate-hike boogeyman.  As universally expected, the Fed’s 5th rate hike of this cycle indeed came to pass this week.  When gold didn’t collapse as irrationally feared, the cowering futures traders were quick to start returning.  Past Fed rate hikes have actually proven very bullish for gold,... read more

2018 is likely see the world embroiled in slower economic growth, yet higher inflation and interest rates, aka stagflation. A decade of reckless money printing and loan growth, which fuelled unsustainably high debt in all major economies, will finally meet its antidote: higher inflation. It will add to the burden of debt servicing, begetting more debt, and culminating in devaluations... read more

Gold prices edged higher in Asian trade on Friday, heading for their first weekly gain in four, as the dollar sagged on concerns about the progress of U.S. tax reform. Spot gold was up nearly 0.2 percent at $1,254.74 an ounce as of 0349 GMT, and has gained 0.5 percent so far this week. U.S. gold futures were unchanged at $1,257 an ounce. The dollar was down 0.1 percent at 112.26 yen. "Th... read more

After years of talks, central banks and financial regulators have finally agreed on the Basel III rules for bank capital. That's a good thing, mostly. The deal improves the regulatory framework and will give banks greater clarity about what's required. It's also a timely reminder that international policy cooperation can work. There's a catch, however: The new rules have been watered down... read more

Gold prices have climbed this year despite rising U.S. interest rates, a rally in global stock markets and a jump in cryptocurrency prices — and the yellow metal has lots of reasons to stretch its gains into 2018, according to a report from the World Gold Council released Friday. Gold futures GCG8, +0.66%  have gained more than 9% year to date, garnering support, in part, from haven deman... read more