A2A with Steve St. Angelo of SRSrocco Report

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Some brilliant stuff today from our old pal, Steve St. Angelo. If you want to unearth even more evidence that we are near the end of The Great Keynesian Experiment, listen to what Steve has to say about energy and its impact on the collapsing global economy.

To begin the conversation, we discussed two of Steve's recent posts. Please be sure to review both:

From there, the conversation turns to energy, the miners, the ongoing global supply deficit for silver and the historically high gold:silver ratio.

I am 100% confident that you will greatly enjoy this recording and it will be a very valuable use of your time.

Enjoy,

TF


65 Comments

Turd Ferguson's picture

Gold at HOD and back to $1206

MODERATOR

Why?

Thus, this:

I discussed this brewing Trump-Mother conflict here. Recorded about 90 minutes ago: http://www.kereport.com/2017/01/19/battle-trump-yellen-started/

billhilly's picture

you know what's funny...

...I always thought it was the job of the markets, not politicians/bankers, to determine the right value of the dollar ! 

Thanks for the A2A !

Turd Ferguson's picture

All should check this out, too

MODERATOR
LostMind's picture

Silver for me

After listening to Mudda Fellon yesterday and Massa Williams today, one thing keeps sticking out to me...

Both keep talking about how unemployment has to be just right - stable... I'm going to start calling this the Goldilocks method of FED intervention... Not to hot, not to cold, just right...

From the mouth of Williams:

"as a Federal Reserve policy maker, I tend to look at virtually everything through the lens of our dual mandate goals of maximum employment and price stability, and I’ll describe economic developments — past, present, and future —

through that lens. I’ll begin with maximum employment. Of course, this doesn’t require that every man, woman, and child work 24/7, 365 days of the year. Instead, it means we have a number of jobs consistent with a vibrant, healthy economy.

Economists tend to think of this in terms of unemployment, rather than employment. Put in those terms, our goal isn’t to have an unemployment rate of zero. Instead, it’s to be near what economists call the “natural rate” of unemployment, the level where the economy is running neither too hot nor too cold. It’s impossible to know exactly what that magic number is, but it’s generally thought to be between 4.75 and 5 percent today. By the way, that’s about the same number that economists typically thought before the recession, so in this one respect the economy hasn’t changed much over the past decade.

With the national unemployment rate now at 4.7 percent, we’ve reached that goal. It’s worth pausing a moment to reflect on this accomplishment. We are now in the eighth year of the economic expansion. The unemployment rate peaked at 10 percent in the fall of 2009 in the aftermath of the Great Recession. Since then, it’s fallen by more than half, as the economy added over 15½ million jobs.

Uggghhhhh.... Can't wait for tomorrow. Oh, Guess Mudda Fellon speaks again tonight too.

http://www.frbsf.org/our-district/files/Williams-Speech-Looking-Back-Looking-Ahead.pdf

The attached is the speech given by Wiliams. On Page 3 he goes into detail about "Debunking" the unemployment article posted earlier by Turd and others.

Great little tidbit "As a result, the number of new jobs we need has dropped as well. I put it at around 80,000 a month currently. Looking ahead, estimates that take account of likely labor force trends imply a range from 50,000 to little over 100,000. Last year job gains averaged about 180,000 a month. That's more than twice as fast as we need to keep up with the tend in labor force growth and , quite honestly, is unsustainable in the long run..."

ArtL's picture

Nice interview.

Steve has brought to light the fact that unlimited growth is impossible, and society will be limited by the thermodynamic crossover of oil.

I believe there will be inefficiencies in the production and distribution network, and some (few?) players that have oil that is thermodynamically available will be able to sell it for increasing prices (fiat, gold, silver) and at the same time our world society will generally collapse because of not enough (liquid) energy. This economic collapse will cause the human population to drop to a new, much lower and ultimately, sustainable level.  (If we don't first have a human extinction event, like a thermonuclear war while society is collapsing.)

Island Teal's picture

Good guy - Lots of Information

6th - maybe

Good guy - Lots of Information

Now to listen

Marcrward's picture

5

Fif

Silver!

Honor!

Energy!

marchas@sitestar.net's picture

Missed it Tonight But 6th

KEEP STACKING

AlienEyes's picture

To All (friends and enemies alike)

Woke up late Tuesday night with what was probably the worst angina attack I have ever had. Took a nitro (2) and drove myself to the emergency room....and promptly got yelled at for doing so. After twenty years and three months, one of my bypass' is failing. I have to get scheduled for a stint but personally, I doubt they can do it since that was the case twenty years ago. That would leave me looking down the barrel of another bypass. sad At almost 71, the odds are not as good as they were when I was 50 but I certainly can't say I didn't get my money's worth. The first bypass was a miracle and I hardly had to give up anything except snow skiing and class 4 whitewater.....which pissed me off royally but them's the breaks. At least I didn't end up like Sonny Bono. (after a dyke daughter/son/whatever and a ho dog wife, that poor fellow had suffered enough.)

Having said that, I won't be on here as much as I have in the past until I get this resolved. Don't want to get bent out of shape and have a freaking heart attack.

AE

canary's picture

Wishing well

According to Steven Mnuchin (Trump Treasury pick), President Elect wants weaker dollar short term....and stronger dollar long term. http://www.zerohedge.com/news/2017-01-19/what-steve-mnuchin-thinks-about-strong-dollar 

AIJ's picture

AE praying for you...

...for a fast and complete recovery.

MoonShiv's picture

AE

You'd better get well; we still have the TEOTGKE to witness...

canary's picture

AlienEyes...

You will be fine....All you need is to relax and find a woman that knows how to dance. I know of one. Very good dancer....But she is allergic to Texas.

                        Image result for dancing woman funny images

onesong's picture

Sending you loving healing energy AE.

Get well soon!

NW VIEW's picture

AE, you need some cheer!

We could daydream together about the past and be thankful we have outlived many of our friends.  I could pick you up in my 1953 Ford with a flathead V.8 and we could first head out to the county roads and find one of the many quarter mile drag races.  Next, take our girlfriends to the local shake shop for some greasy burgers and fries for about 60 cents.  Next, go to the local, Friday night dances like this:

Yes, it is time to be thankful for the past and even for what is ahead.     Jim

Ned Braden's picture

AE - You've been through a lot this year....

But as a toughened silver stacker; you'll do it ! Praying for you buddie...yes

UulaBear's picture

AE

medicine and heart treatment has come a long way in 20 years. I'm sure they'll have you in and out without much fuss. Best wishes to you. 

marchas@sitestar.net's picture

Bloody Hell AE

Do you mean we are going to get a break from all your wisdom? Remember God only takes the good first but just in case I'll be praying for you my friend. Also be nice to the nurses and they will be nice to you.

Good luck my friend.

dryam's picture

EROI

Gail Tverberg has a good website where she talks about the very exact thing talked about in this podcast regarding EROI, diminishing returns, & the somewhat counterintuitive conclusion of falling energy prices as we pass peak oil.  I highly recommend perusing her website.

Another way of  understanding the lower energy prices is that the majority of people who consume energy are the middle and lower class which make up the huge majority of people in this world.  By & large wages for this group are decreasing, & will continue to do so because of diminishing returns on EROI leading to a shrinking real worldwide economy.  Thus, there's less money to pay for oil/energy so prices will drop.

For the past 40+ years increasing debt has been all about providing extra money to buy oil given diminishing EROI.  Low energy prices are problematic for many countries including the U.S. & its financial system which is highly levered to the energy sector (much more so than the mortgage industry during the financial crisis in 2007).  The one (manipulated) financial variable that can improve this situation is the lowering of the USD as this would proportionally inflate the price of oil.  Thus, this is yet another reason I believe the USD will go down.

Ferd Torgerson's picture

Hey, AE!

Your not getting better is absolutely not acceptable.

We are going to kick ass this year and you have to be here for the ride.  yes

Ferd

dryam's picture

AE

AE,

I'm an MD & cardiac medicine has come a very long way in 20 years.  Outcomes are much, much better & recovery times following bypass (if you need a redo) are much shorter.  

AlienEyes's picture

dryam

First really good news I've had this week !  smiley  yes  Many thanks.

SaratogaPrepper's picture

Alien Eyes

Get well quickly, you'll be missed.

Here's to hoping all your nurses have great cleavage and spanky butts.

goldcom's picture

AE hang in

Wish you didn't have to deal with this my friend. Get done what you need to, and try to drop a line here when you can. Wishing you well.

Danforth Coxwell's picture

Just want to stress the importance...

of proper hand washing for the prevention of hospital acquired infection. Otherwise, best of luck to you!

chocolatechiphorses's picture

AE

Image result for image of get well soon heart

We will miss your posts.    Wishing you a speedy recovery.   smiley

cch

chocolatechiphorses's picture

AE

Sorry double post. 

pbfurn's picture

Hey, AE!

I am so sorry to learn of your travail. Dryam is correct; the cardiac care has come a long way. My very frail brother-in-law was in your position eight years ago and he is now 89! I have every confidence you will do very well.

Behave yourself and then you can have some fun!

All the best to you!

AngryCitizen's picture

I'd Lay Off The Spanky

on the RNs if you don't want any trouble. Dryam's right about cardiology doing so much better than yesteryear, but it's the RNs that pull you thru...& you DON'T wanna piss them off, (not even us guy RNs).

Do EVERYTHING your healthcare team tells you to do, after you've picked your healthcare team. (Shop around for the pros with the best success rate, first.)

We'll be praying for you, and keeping the ringside seat warm for you here.

May God bless you!

rxman's picture

@AE

Guess that means no more

One teaquila

Two teaquila

Three teaquila floor for you lol

You are a tough old codger and will pull through just fine. Will say a prayer for you friend. 

Rxman

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