Blow Off Top…Could It Happen?

By David Chapman – Re-Blogged From http://www.Gold-Eagle.com

Every time we pick up some article on the stock market of late, all we read is the stock market is on the verge of a devastating wipeout, or that the next collapse is just around the corner. One of the best headlines we saw recently was from a famed market guru with a headline of “2017 Is Going to Be Worse than the Great Depression!” It is enough to make you run home, pour a long hot bath, slit your wrists, and climb in to the tub.

Okay, maybe that is extreme. Naturally, there are many reasons writers give to back up their case. Those range from the election of Donald Trump, Brexit, rising interest rates in the US, and of course the best one—that the bull market is now into its ninth year from the major low of March 2009 without a correction exceeding 20% and is in the mother of all bubbles. All of that is true. But none of that makes for a final top just because the stock market has been rising for eight years plus.

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“The Answer to What’s Actually Killing Coal” Is “Not Even Wrong”

By David Middleton – Re-Blogged From http://www.WattsUpWithThat.com

From Inverse via Real Clear Energy:

The Answer to What’s Actually Killing Coal is Hopeful and Depressing

The real cause of the decline of coal is the free market.

By Dyani Sabin on June 20, 2017
Filed Under Answers, Donald Trump, Jobs, R&B & Solar Energy

As has been reported a lot recently, the coal industry is dying: jobs are in decline as alternative energy sources are more easily available to the masses, and everything from windows to roofs has become more energy efficient. So while technology is killing the coal industry, so are competitors of coal, which still accounts for an astounding 40 percent of electricity worldwide.

Enter a study paid for by two environmental groups — the American Wind Energy Association and Advanced Energy Economy — and conducted by Analysis Group, a consulting firm, timed to come out ahead of a competing Department of Energy study, and the stage is set to answer the question: What is killing coal? The answers will either be depressing (business-killing policies!) or hopeful (better tech and market competition), or perhaps both.

First up, the private study results released Tuesday found that the decline of coal and nuclear plants in the United States has two main causes: the relatively low cost for natural gas, and the fact that electricity demands have not increased.

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Gold Summer Doldrums

By Adam Hamilton – Re-Blogged From http://www.Gold-Eagle.com

Gold has spent most of June grinding lower on balance, damaging sentiment and vexing traders.  Usual selling leading into the Fed’s latest rate hike contributed, but the summer doldrums are also in play.  Gold has typically suffered a seasonal lull this time of year, on waning investment demand as vacations divert attention from markets.  But these summer doldrums offer the best seasonal buying opportunities of the year.

This doldrums term is very apt for gold’s summer predicament.  It describes a zone in the world’s oceans surrounding the equator.  There hot air is constantly rising, creating long-lived low-pressure areas.  They are often calm, with little or no prevailing winds.  History is full of accounts of sailing ships getting trapped in this zone for days or even weeks, unable to make any headway.  The doldrums were murder on ships’ morale.

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Renewable Energy Cost and Reliability Claims Exposed and Debunked

By Larry Hamlin – Re-Blogged From http://www.WattsUpWithThat.com

A new paper  published in the Proceedings of the National Academy of Sciences (PNAS) from NOAA’s Earth System Laboratory, Boulder Colorado exposes and debunks the contrived claims of a recent renewable energy study which falsely alleged that low cost and reliable 100% renewable energy electric grids are possible.

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Saudi Arabia’s ‘Mr. Everything’ Is Now Crown Prince, Too

Re-Blogged From worldview.stratfor.com

After months of speculation and palace intrigue, Saudi King Salman shook up the kingdom’s line of succession on June 21 by naming his powerful son, Mohammed bin Salman, crown prince and removing all titles from Mohammed bin Nayef, the former crown prince. This is the second time Salman has overhauled the line of succession and the Saudi government since taking the throne in January 2015. The move is a controversial one, considering it cuts large and powerful segments of the royal family out of the succession plan. And should the young bin Salman ascend the throne, it could mean Saudi Arabia will be ruled for six decades by father and son.

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EPA’s Suspect Science

By John Rafuse – Re-Blogged From http://www.WattsUpWithThat.com

Its practices have defiled scientific integrity, but proposed corrections bring shock and defiance.

President Trump’s budget guidance sought to cut $1.6 billion from the Environmental Protection Agency’s $8.1 billion expectation. Shrieks of looming Armageddon prompted Congress to fund EPA in full until September 2017, when the battle will be joined again.

Then EPA Administrator Scott Pruitt said he would prioritize Superfund cleanups based on toxicity, health-impact and other factors. The ensuing caterwauling suggested that EPA had no priorities since Bill Ruckelshaus (EPA’s first administrator, 1970-1975). But consider some standard EPA practices:

1. EPA advocates claim the US is unhealthy and dirty. They won’t admit that US water quality has improved dramatically since 1970. They deny that factories, cars and power plants are far more efficient and clean. They ignore that, while most nations continue to cut down forest habitats for fuel, the Lower 48 states have more forest coverage than when the Pilgrims landed in 1620.

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Harvard Study Shows Minimum Wage Increases Kill Businesses

By Keely Sharp – Re-Blogged From Eagle Rising

While there are McDonald fry cooks out protesting for $15 an hour to flip burgers and almost always get our orders wrong, some of us can actually see the harm in minimum wage hikes.

When wages are increased, then a business must then charge more for their product in order to cover the costs, due to inflation. For example, you may go from $7.25 an hour to $15 an hour, but now a gallon of milk jumps from $4 to $8. So you aren’t really able to afford anything more than you were in the first place, and it hurts the businesses.

A new Harvard Business School study found that minimum wage hikes lead to closures of small businesses. “We find suggestive evidence that an increase in the minimum wage leads to an overall increase in the rate of exit,” the researchers conclude.

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