I have a new video on solar power at http://www.uncommonwisdomdaily.com/videos/
If you want to read a transcript of this video, here you go:
www.uncommonwisdomdaily.com/wp-content/uploads/2009/07/UWD129.pdf
In Other News …
1) Here’s my latest interview with HoweStreet.com: http://www.howestreet.com/index.php?pl=/goldradio/index.php/mediaplayer/1305
2) Derivatives bill to clamp down on speculation
Congress will consider steps to curb speculation in the $39 trillion credit default swaps market and could prohibit investors from speculating on a borrower’s credit quality, according to a U.S. House of Representatives Committee document obtained by Reuters.
3) In a BusinessWeek story this week called The Leaner Baby Boomer Economy,there are these statistics (from a McKinsey study) …
- $400 Billion: Amount that will come out of annual U.S. consumption as thrifty boomers push savings rate from 1% to nearly 5%.
- 47%: Boomers share of national disposable income in 2005 before the bubble burst. Boomers contributed only 7% to national savings.
- 69%: Portion of boomers aged 54 to 63 who are financially unprepared for retirement.
- 78%: Boomers’ share of GDP growth during the bubble years of 1995 to 2005.
- 2.4%: Forecasted GDP growth over the next three decades as boomers ratchet back. GDP has grown 3.2% a year since 1965.
Hat-tip Mish.
That last statistic — 2.4% GDP growth for three decades is important because in his recent town hall meeting, Fed Chairman Ben Bernanke said it takes GDP growth of 2.5% just to keep the jobless rate constant. Now, I don’t think McKinsey can accurately forecast GDP growth for the next three decades. Heck, I’d be amazed if they’re right for the next five years. But this does point to weakness in the job market for some quite time to come.
Corporate insiders have recently been selling their companies’ shares at a greater pace than at any time since the top of the bull market in the fall of 2007.
5) Dollar in Disarray, but China Buys Anyway
China is flush with cash and 2008’s meltdown has allowed it to purchase assets at bargain-basement prices. As a result, China’s overseas investments grew to $52 billion in 2008, more than double the $26.5 billion the country sent overseas in 2007. China’s looking to diversify away from its massive U.S. Treasury holdings. By purchasing these companies, China is acquiring the expertise needed to move the country up the manufacturing food chain.
Related Posts
- Secret Value in the Energy Sector Transcript (06/02/09)
- A Tale of Two Energy ETFs — Transcript (05/28/09)
- Bearish news on energy (08/28/08)
- 4 Energy Stories for Monday (10/19/09)
- Feel the Energy (12/17/08)
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