The Mess That Greenspan Made - Part 20

Renewed Interest in World Population

The story Climate change isn’t the problem. A population bomb is killing us at Marketwatch that was prompted by a new study in the journal Science that is currently making the rounds (also see The New Population Boom Could Easily Be a Dud at the WSJ) prompted a quick look at world population growth as shown below via this item at worldometers.

Recall that a few decades ago, this was the world’s number one problem, however, the recent flattening of the curve has eased those concerns substantially. The Science report argues that expectations of world population stabilizing during this century are likely wrong and that there could be more than 12 million people on the planet by 2100.

A couple of rather remarkable stats from worldometers:

  • During the 20th century, world population has grown from 1.65 billion to 6 billion.
  • In 1970, there were roughly half as many people in the world as there are now.

Tuesday Morning Links

MUST READS
Israel shoots down Syrian jet – Guardian
Why Bombing Syria to destroy ISIS won’t work – Vox
Julian Robertson sees TWO bubbles brewing – CNBC
Could ‘front running’ be the next banking scandal? – BBC
Yahoo emerges as biggest Alibaba loser as investors dump stock – Independent
They Do Ring A Bell At The Top: Alibaba Proves Wall St. Is Off Its Rocker – Contra Corner
Dropping Prices, Supply Glut Sends Oil Into Storage At Sea – Wolf Street
Climate change isn’t the problem. A population bomb is killing us – MarketWatch
Why 80% of Women Take Social Security Too Early for Full Benefits – Main Street
Bread, Circuses, & Bombs – Decline of the American Empire – Burning Platform
Student homelessness hits another record high – CNN/Money
Bees and Ants on How to Make Decisions – WSJ
Why Isn’t Housing A Bubble? – Dollar Collapse

MARKETS/INVESTING
Soft data, Syria strikes knock European markets – AP
Fear factor: Investors are scared again – CNN/Money
The Dollar’s Impact on the S&P 500 – Reformed Broker
Would a Repeat of the 1987 Crash Be That Bad? – Wealth of Common Sense
Everyone is a genius in a Fed-induced stock rally – MarketWatch
Treasuries Gain for Fourth Day on Geopolitical Tension – Bloomberg
Gold rises 1.5 percent on softer dollar, equities – Reuters
Has The Gold Price Drop Run Its Course? – GoldSilverWorlds
Established rivals may keep Shanghai gold exchange in check – SCMP
Gold, Silver Bullion Coin Sales Robust Despite Sell Off – GoldCore
Buying gold has never been this easy – CNN/Money

ECONOMY/WORLD/HOUSING/BANKING
Is the economic recovery real? – CNN/Money
Credit Card Delinquencies at Historic Low – St. Louis Fed
Germany’s Economic Mirage – Project Syndicate
Eurozone business growth slows in September, PMI survey finds – BBC
Manufacturing Rebound Relieves Growth Concerns in China – Bloomberg
Economists React: Surprising Signs of an Uptick in China’s Economy – WSJ
China’s Housing Bubble Puzzle Isn’t So Confusing After All – WSJ
Why First-Time Homebuyers Should Get Their Checkbooks Ready – Fiscal Times
Analyst Predicts Home Price Decline In Report to White House – DSNews
A Few Comments on August Existing Home Sales – Calculated Risk
Plosser, hawkish chief of Philadelphia Fed, to retire in March – Reuters
Dudley: ‘I would love to’ raise rates in 2015 – CNBC

 

Faber: “A Bubble In Everything, Everywhere”

Marc Faber, the purveyor of the Gloom, Boom, and Doom report, talks about the current course of asset prices and how things might end badly someday as the Federal Reserve contemplates raising interest rates and the U.S. dollar continues to strengthen.

As detailed in Dr. Marc Faber’s three bold predictions for 2014, his crystal ball gazing early in the year doesn’t look particularly prescient at the moment:

1. The market will continue to decline from its November high of 1,813
2. Best shorts for 2014: Facebook, Tesla, Twitter, Netflix, and Veeva Systems
3. Best longs for 2014: Gold, gold shares, and Vietnamese stocks

It is, however, worth pointing out that 2014 is a long way from being over.

Monday Morning Links

MUST READS
Alibaba IPO now the world’s biggest IPO – Reuters
The market’s next Fed fear: The exit strategy – CNBC
10 warning signs of global financial meltdown – Telegraph
G-20 Warns of Potential Market Risks Amid Uneven Growth – Bloomberg
Joe Oliver says G20 sees ‘significant economic challenges ahead’ – Financial Post
In Scotland and Beyond, a Crisis of Faith in the Global Elite – NY Times
Head of Germany’s central bank criticises ECB stimulus plan – Reuters
Is the Shale Revolution a ‘Ponzi Scheme’ or the End of Peak Oil? – reason
After Surgery, $117,000 Bill for Doctor He Didn’t Know – CNBC
Tax refunds will be cut for ACA recipients – USA Today
Why Warren Buffett hates gold – USA Today
Only for Wonks – Noland, Prudent Bear
The Ponzi Economy – Hussman Funds

MARKETS/INVESTING
World stock markets slip on China growth jitters – AP
Metals malaise weighs on equity markets – CNBC
Rosenberg: Market volatility is back; here’s how to play it – FP
Insider Buying Dries Up Defying $275 Billion of Buybacks – Bloomberg
U.S. Households Are Most Heavily Invested In Stocks Since 2000 – Yahoo! Finance
Treasuries Hold Two-Day Gain on Inflation Outlook, G-20 Growth – Bloomberg
Gold, silver tumble as Fed outlook fuels selling – Reuters
Silver hits four-year lows, gold open week in the red – MarketWatch
Chinese Gold Demand 41t in week 37, 1331t YTD – BullionStar
Gold could fall to 1180/1184 levels on dollar strength: Barclays – BullionStreet
China Moves To Dominate Gold Market With Physical Exchange – GoldCore

ECONOMY/WORLD/HOUSING/BANKING
Study: Recovery eludes long-term unemployed – USA Today
Poverty data show results of economic policy gone wrong – LA Times
China focuses on comprehensive growth target – xinhuanet
Affluence eludes poor crowding into Asian cities – AP
Four myths about the cost of living crisis – Telegraph
Europe must ‘boost demand’ to revive economy, US warns – BBC
Germany’s Ailing Infrastructure: A Nation Slowly Crumbles – Spiegel
Boom to Bust: Irrational Exuberance Down Under – Bloomberg
Housing market update: rents up, prices up, sales down – OC Housing News
Draghi Effect Subsides as Pressure Builds on ECB Chief – Bloomberg
China’s shadow banking shows signs of stabilizing – China Daily
Stanley Fischer Hubris and the Next Fed-Created Crisis – Forbes

 
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