24 June 2016
Posted by Jesse at 4:35 PM
Posted by Jesse at 4:32 PM
23 June 2016
The most repeated phrase of the evening from the professional class has been 'this is a wake up call' for Westminster.
Wake up calls may be the order of the day for the status quo.
The politicians are shocked, shocked that the people have rejected the advice, arguments, and warnings of 'the experts.'
Some 'very serious people' are wondering what this means for the future of the EU.
And as always, they never saw this coming.
Gold is trading at 1334, silver at 18, the SP stock futures are down 90 points, and the FTSE futures are down 8%.
The map below shows the support for 'Remain' was centered primarily in the southeast which is London and in the north in Scotland. The huge majority for 'Remain' in Scotland raises the prospect of another referendum there for independence in order to remain in the EU.
I wonder if the professional establishments of the West will continue to misjudge the depth of the dissatisfaction of the public, counting on their complacency to maintain the status quo.
The November elections in the US may be another interesting situation to watch closely. The smug sense of complacent entitlement of the Democratic National Committee and their anointed one is striking.
Posted by Jesse at 11:48 PM
And we've often rewound the clock
Since the Puritans got a shock
When they landed on Plymouth Rock.
If today any shock they should try to stem
Instead of landing on Plymouth Rock,
Plymouth Rock would land on them.
Cole Porter, Anything Goes
Gold and silver were lackluster today as the markets are holding their collective breaths, waiting for the Brexit results.
Interestingly enough the Dollar DX index was down as well.
Tomorrow may be a wild ride. The charts are clearly coiled for a move, one way or another.
Have a pleasant evening.
Posted by Jesse at 4:12 PM
Posted by Jesse at 4:05 PM
22 June 2016
Markets were edgy ahead of the Brexit vote tomorrow.
As our friends at Wall Street on Parade point out, the Fed's latest 'stress test results' will be partially announced tomorrow as well.
The results of the vote are not likely to be known until early Friday morning, as the ballots will be hand counted. So we will be subject to rumours and speculation tomorrow perhaps.
And in the exceptional column, the IMF has warned the US about its unusually high poverty levels.
Have a pleasant evening.
Posted by Jesse at 4:28 PM