The Q2 GDP Farce, The Big Short 2.0 And Gold

The Bureau of Economic Analysis (BEA) released its “advance” estimate of Q2 GDP on Friday. The Government would have us believe that the U.S. economic growth accelerated to a 4.1 annualized growth rate in Q2. Other than the fact that a one-time jump in soybean exports ahead of the trade war contributed to 25% of the alleged 4.1% growth, nothing about the report is credible. (excerpt from the latest issue of the  Short Seller’s Journal)

Total home sales in SoCal were down over 11% year over year in June (as reported by the California Association of Realtors).   With housing, as goes SoCal, so goes the rest of the nation.  The homebuilders are the short seller’s gift that keeps on giving.

Silver Doctors invited me on the Weekly Metals & Markets podcast to discuss the GDP report, the housing market and gold:

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I just released my weekly issue of the Short Seller’s Journal. In this issue I present more stunning housing market collapse data, I discuss AMZN’s latest earnings report and I talk about Steve “The Big Short” Eisman’s latest short position, which has been one of my SSJ recommendations for a several months.  You can learn more about this newsletter service here:  Short Seller’s Journal information.

3 thoughts on “The Q2 GDP Farce, The Big Short 2.0 And Gold

  1. Hey Dave, random question, I’m invested in vanguards precious metals and mining fund VGPMX through my 401k. Last week I received a letter stating they’re restructuring the fund. Today I see it posted on Zerohedge. A sign of the bottom? Now Vanguard Global Capital Cycles Fund as part of a restructuring intended to broaden the fund’s mandate and diversify its portfolio. I’m just concerned as to which level of exposure to the sector they will maintain? I’m looking at Tocqueville Gold Fund now as they have %14 exposure to physical gold and I remember hearing an interview on Turds website with John Hathaway fund manager. At the end of the day it’s all paper and if we have a huge melt-down of the system who knows if I would even be able to access my 401k anyways. Just trying to mitigate risk, patiently waiting in the most hated sector.

    1. Change jobs, transfer your 401k to self-directed IRA, liquidate the IRA and pay the penalty, buy physical gold
      silver bullion coins and keep them locked in your possession. Gold/silver eagles, gold/silver philharmonics, gold pandas

      But if you don’t want to protect your money like that, switch out of Vanguard and move into either Tocqueville or Van Eck

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