Hope And Reality

Prices Jump, Employment Dumps As US ISM Services Disappoints In March The last six months or so has seen S&P Global's and ISM's Services PMI surveys diverge dramatically (former at three year lows, latter near four year highs). But, following S&P Global's Services PMI plunge into contraction in March, ISM's Services PMI actually 'agreed' and fell also (but only modestly) from 56.1 to 54.0 (still in expansion but worse than the expected 54.9)... Source: Bloomberg Under the hood it was a very mixed bag with a surge in New Orders (highest since Feb...

The Debt Spiral Ends In Dollar Destruction: 6 Hard Truths America Can No Longer Ignore Authored by Nick Giambruno via Doug Casey's International Man, “Whenever governments are granted power to purchase their own debt, they never fail to do so, eventually destroying the value of the currency.” – Ron Paul Let’s take a step back and look at the big picture so we can assess the US government’s financial situation, where it’s likely headed, and what these trends could mean. Observation #1: It’s Politically Impossible To Cut Spending Among the biggest expenditures for the...

Kamikaze Drone Maker Raises $320 Million In U.S. IPO As 'War Unicorns' Rise The rise of "war unicorns" will be an impressive development to watch over the next several years, as we've diligently laid out for readers for months, well before the U.S.-Iran conflict, how a massive government push and in capital markets would begin to prioritize the next generation of defense-tech firms rather than big, bloated legacy defense contractors. Aevex, a military drone maker backed by Madison Dearborn Partners, is the latest example of capital markets getting excited about war...