1. US Oil Imports Drop Off a Cliff

   by Michael Campbell

This Weeks Shocking Stat - US Oil imports have collapsed from 60% to a just reported 22%. Tough on Canada, that relies so heavily on US Oil Exports! 

...read more HERE

2. The Coming Run on Banks and Pensions

 by Dave Kranzler

“There are folks that are saying you know what, I don’t care, I’m going to lock in my retirement now and get out while I can and fight it as a retiree if they go and change the retiree benefits,” he said.  – Executive Director for the Kentucky Association of State Employees,  Proposed Pension Changes Bring Fears Of State Worker Exodus

....continue HERE

3. Gold: Book Profits Now

 by Stewart Thomson

Gold has staged a fabulous rally from about $1220 to $1245.  Using the December futures price chart, I’ve defined the $1300 - $1350 area as a spectacular profit booking opportunity for investors.

....read it all HERE

Sometimes I like to trot these lumbering monthlies out so we can quiet everything down and see where various markets are slowly heading.

First of all, as I go down with my ‘strengthening US dollar’ ship*, I also mal-projected copper’s upside. I’d felt that $3/lb. would cap Doctor Copper because it is very clear lateral resistance at a handy 38% Fib retrace.**

....continue reading HERE

Mass Sentiment is still Negative so Stock Market likely to Correct only

Hurricane Harvey hit Texas hard. Much of Houston, our largest city, will be uninhabitable for months, maybe years.

We had no damage where I live near Austin, but like most Texans, I have friends and relatives in the affected areas. We’re all doing what we can to help them—thanks to everyone pitching in from other states too.

Watching the news coverage, I’ve noticed a common scene.

Many flood victims bring dogs and cats with them on the Cajun Navy’s small boats. I haven’t seen any rescuers object. They seem to think nothing of it and even welcome the animals aboard.

Leave them behind? Inconceivable. Pets are part of the family.

This is another example of an economic trend I wrote about last year. It’s not reversing, and I doubt it ever will.

Photo: AP

True Priorities

As I said, Harvey didn’t hit Austin, but I know what it’s like having to evacuate in a rush.

Our area experienced several huge wildfires back in 2011. One got close enough that we could see the flames. As the wind picked up, firefighters told us to “Get out of there right now!”

Given only minutes to grab what possessions you can—and thinking you will probably lose everything else—you learn your true priorities.

1. Martin Armstrong: Is the Stock Market Really Overvalued?

   by Martin Armstrong

All we have been hearing since 2011 is how the stock market is going to crash and then there will be hyperinflation and all sorts of strange relationships that never materialize. They simply focus on the level of the stock market in nominal terms without adjusting it for inflation or showing how it has performed relative to the rest of the economy.

...read more HERE

2. Dollar Update as Loss of Reserve Currency Status Looms

 by Clive Maund

The dollar is on course to lose its reserve currency status. This is not something that will happen overnight, it will be a process, but at some point there is likely to be a “sea change” in perception, as the world grasps that this is what is happening, which will trigger a cascade of selling leading to its collapse, whereupon gold and silver will rocket higher. 

....continue HERE

3. Hot Properties: Michael's Real Estate Warning

 by Michael Campbell & Ozzie Jurock

Michael shares a costly mistake he himself made in real estate and gets Ozzie's advice on how everyone can avoid stumbling into the same costly scenario.

....read it all HERE