The United States Bureau of Economic Analysis issued its third-quarter gross domestic product estimate this morning.Consensus guessing had come in at 2.8% annualized growth. What is the actual figure?It's 2.0% - a "miss" - yet not a cataclysmic miss.It nonetheless represents the poorest quarterly progress since last year's second quarter... when the gross domestic product took a 31% whaling.Mr. Pa...Read More

Spot prices for hot-rolled coil in China fell plunged to their lowest in eight months on Tuesday November 2 amid falling futures.DomesticEastern China (Shanghai): 5,000-5,050 yuan ($782-789) per tonne, down by 230-250 yuan per tonneSharp losses knocked spot HRC prices in eastern China below the trough of 5,170-5,220 yuan per tonne last seen on May 26. Spot prices are now at their lowest since Marc...Read More

The effective federal funds rate - the official federal funds rate - gutters along at a scarcely registering 0.08%.But is the official rate the true rate? A leading question, to be certain. We would not otherwise raise it.What then is the true federal funds rate? Why does it matter?Today we hunt our answers in the "shadows"... drive a penetrating light through the murk... and illuminate our findin...Read More

We know we’re close to the moment when Everything Solid Melts Into Air when extraordinary breakdowns are treated as ordinary and the “news” quickly reverts to gossip.So over 4 million American workers up and quit every month, month after month after month, and the reaction is ho-hum, labor shortage, blah, blah, blah, toy shortage for Christmas, oh, the horror, blah, blah, blah.Th...Read More

Here is reader Jason M., in response to yesterday's Reckoning:Today's article really got my blood boiling. This Micheline Maynard is the epitome of what's wrong with the elites and our federal government today. We are in this mess because the elites shut the economy down for a virus that has a 99.8% survival rate. Shelves are going bare because the government has pursued policies that destroyed ou...Read More

It was a very strange moment when this week the spokesperson for the president defended inflation as a high-class problem. She explained that higher prices are merely a sign that economic activity is picking up. People are buying things and that's good. Of course that pushes up prices, she said. Just deal with it.At this point, the White House will say anything. Truth, facts, morality - these thin...Read More

The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets...Read More

Let them munch cake...The White House chief of staff - a certain Ron Klain - recently blessed a statement by Harvard economics instructor Jason Furman.This statement declared inflation and supply chain delinkings “high class problems”:Incidentally... this is the identical Ronald Klain who objected to Trump tax cuts this way:Will [they] hold up a Campbell Soup can and argue that price i...Read More

The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade,...Read More

"Mundus vult decipi, ergo decipiatur" - the world wants to be deceived, so let it be deceived.This wisdom of the ancient world is the wisdom of the modern world. And we suspect greatly it will be the wisdom of the future world.That is, the world wishes to be eternally and infinitely deceived.Why else - sisters, brothers, countrymen - do people attend magic shows... solicit psychics... read Paul Kr...Read More

Man alone is the thinking animal of Earth, the sky-scraping summit of all its fauna, its high king.This unlikely creature splits the atom in two. He sends disinformation ricocheting around the world in fractions of seconds. He catapults himself into space.Through his astounding astronomical binoculars he lays his eyes on the remotest precincts of this universe, billions of years distant.Of these f...Read More

China's domestic magnesium price dived in the week to Friday October 29, with the market responding to declining upstream coal prices amid the country's attempts to stabilize prices and supply of the energy feedstock.Fastmarkets' weekly price assessment for magnesium, 99.9%, exw China, was 35,000-36,000 yuan ($5,466-5,623) per tonne on Friday October 29, a decrease of 11,000 yuan per tonne (23.7%)...Read More

China produced 23.83 million tonnes of crude stainless steel in the first nine months of 2021, according to data released by the China Stainless Steel Council (CSSC) at the end of last week.This is 1.89 million tonnes - or 8.6% - higher than an adjusted figure of 21.94 million tonnes a year earlier, it said.China's apparent stainless steel consumption...Read More

This week's episode features the Decarbonization Panel from the Canadian Mining Journal's ReImagine Mining Symposium, featuring Emily Thorn Corthay, Founder and CEO, Thorn and Associates; Mark Fellows, Co-founder, Director, Commercial, Skarn Associates; Luke Mahoney, Head of Technology and innovation, Vale; Maarten van Koppen, VP, Product Management, MacLean Engineering; Brian Huff, VP of Product...Read More

Canada's Centerra Gold (TSX: CG; NYSE: CGAU) says the Kumtor mine the Kyrgyz government had expropriated in May has underperformed the 2021 mine plan for June through September by 24%.According to Centerra, Kyrgyz officials and the government-imposed 'external management' continue to claim that Kumtor operates normally, but the numbers tell a very different story."In particular, gold output plunge...Read More

Neal Froneman seems laid-back but he's a man in a hurry. The CEO of Sibanye-Stillwater, the largest primary producer of platinum, second-largest primary producer of palladium and a top-tier gold producer, is driving the precious metals giant into the green energy metal space at a pace that makes your head spin.The South African mechanical engineer has orchestrated four major acquisitions of cobalt...Read More

Agnico Eagle Mines (TSX: AEM; NYSE: AEM) is on track to set a record with its 2021 exploration spending. This year's budget is now US$163 million, compared to US$113 million in 2020. The exploration work is focused on expanding reserves and resources at operating mines and pipeline projects. New target areas at LaRonde, Kittila, East Gouldie, Santa Gertrudis, and Hope Bay will also see exploration...Read More

A rising wave of anti-mining protest in Peru, which has paralyzed several operations in the world's second largest copper producing country in the last few months, is already affecting investors' perceptions, authorities warned Tuesday.Julio Velarde, Peru's central bank president, said the country's image as a safe investment destination is at stake. Swearing-in as the bank's leader for five years...Read More

Well before Wyloo Metals began its fight with BHP (NYSE: BHP; LSE: BHP; ASX: BHP) for Noront Resources (TSXV: NOT), the Australian company signed a definitive agreement with Toronto-based junior Orford Mining (TSXV: ORM) for its West Raglan nickel project in Quebec's Nunavik region.The deal, signed in January, sees Wyloo earning up to 80% of the West Raglan project by spending $25 million on explo...Read More

Sue joins Steve & Jay for some Cryto talk. #BTC #ETH #CryptoRead full newsRead More