Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

Parliament of Wimps

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I can’t say I’m shocked, but it seems that Congress has (as I predicted) completely pussied out and kicked
0101-euro the can down the road for the 3,892,983th time. There’s not a single spine among them. They were supposed to cut $600 billion (a paltry amount in any case), but they’re going to cut nothing, and they’re only inching up taxes a tiny bit on only the very richest. Naturally the Euro is zooming higher, because it’s becoming evident that the US dollar is going to be toilet paper in short order. Next month, oince the debt limit is going to create another obstacle, they’ll have to find another way to pussy out. I’m sure they’ll be imaginative in doing so.


Gold and Silver Updated

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Yesterday I made a post with the provocative title Silver is in a Bear Flag in response to some bullish headlines and well… silver’s Bear Flag, which remains intact and viable by daily chart.

A favorable bigger picture risk vs. reward situation was also
highlighted for gold and silver in that post.  Among the reasons for

  • Technical upside potential appears greater than downside.
  • The inflation-dampening Operation Twist is now put in the rear view
    mirror in favor of good old fashioned T bond and MBS Monetization.
  • The Commitments of Traders structures are improving.
  • Sentiment – especially among gold newsletter writers tracked by Mark Hulbert – is in the dumps and contrarian bullish.

Importantly, there is also the value proposition
of gold, which has not changed throughout the long and bullish
consolidation these last 1.5 years.  By the graph below, courtesy of the
St. Louis Fed, it has not changed since the beginning of the secular
bull market either.