With investors still reeling from recent volatility in global stock markets, look at what just hit an all-time record high, plus a bonus interview.
A New Record
December 11 (King World News) – Here is a portion of what Peter Boockvar wrote today as the world awaits the next round of monetary madness: Here is an updated chart of US net worth as a percent of disposable income after the Fed released its Q3 flow of funds statement last week. We are now at 700% (699.9% to be exact). The late 1990’s bubble took it to 615%. It topped at 649% at the peak of the housing bubble. Thus, it emboldens my belief that with the question, “When will the next recession come?,” it will be determined by the direction of asset prices and its impact on confidence and funding because this chart visualizes how dependent we are on them relative to disposable income.
US Net Worth As A Percent Of Disposable Income Just Hit All-Time High Of 700%
There was some softness in the NFIB small business optimism index for November. It fell to 104.8 from 107.4. That matches the lowest since March…
To listen to Doug Casey’s just-released KWN interview discussing his prediction of financial and economic chaos and a panic into gold CLICK HERE OR BELOW:
Here are some key internals: Plans to Hire was unchanged at 22% while Positions Not Able to Fill did fall 4 pts from its record high. Current Compensation was unchanged at just off a record high and future Compensation Plans was higher by 2 pts to 25%, the most since 1989. Capital spending plans fell 1 pt to match the lowest since March.
Those that Plan to Increase Inventory fell 3 pts to the least since April. Earnings Expectations dropped to the weakest since March as maybe higher wages at the same time Higher Selling Prices was unchanged and thus impacted profit margins. Those that Expect a Better Economy dropped by a sharp 11 pts to 22%, the least optimistic since November 2016. Those that Expect Higher Sales fell 4 pts and those that said its a Good Time to Expand was down by 1 pt.
Those That Expect A Better Economy Falls To Lowest Level Since 2016
The NFIB said “The general consensus among forecasters is that the fourth quarter will be solid but slower. Growth appears to have peaked early this year and will slow as we move into 2019.” The NFIB is mostly citing “a lack of qualified workers to fill open positions and a low rate of labor force growth.” There was no talk of tariffs which is an obvious influence on business behavior. There was no commentary on rising interest rates but the component on borrowing rose another 2 pts to a multi year high. The quality of labor remains the number one small business concern.
Bottom line, clearly a tempering of enthusiasm.
Eric King: “Brett, today your company had remarkable news.”
One Of The Fastest Growing Royalty Companies In The World
CEO, Brett Heath: “Metalla is pleased to add another producing royalty on a high-grade deposit with proven operator Pan American Silver. This acquisition consolidates royalties on two separate properties (COSE and previously acquired Joaquin) that represents all of the future growth at Pan American Silver’s Manantial Espejo mine complex. The royalty complements our existing portfolio, will increase our cash flow, and will further enhance our strong growth profile. This is consistent with our long-stated strategy of acquiring existing royalties on quality assets with tier-one operators.” Metalla Royalty is one of the few companies in the world that is in the mining sector and trading near a 52 week high. Metalla Royalty & Streaming, symbol MTA in Canada and MTAFF in the US. For those who would like more information please contact Kristina Pillon in Investor Relations by calling 604-908-1695 or emailing email@example.com
KWN has released the powerful and timely audio interview with Andrew Maguire and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
ALSO RELEASED: Big Surprises In Gold, Silver, Crude Oil And US Treasuries CLICK HERE TO READ.
***KWN has now released the remarkable audio interview with Art Cashin discussing everything from today’s violent trading, to the possibility of a new ice age, what to expect in the gold market and much more and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
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