I have written on multiple occasions about the US stock market overvaluation. Stock prices are high, too high, according to my analysis. The fact that the US stock market is overvalued is not a thing of the recent past. The US stock market has been overvalued for years. I had some fierce debates with other analysts who tried to prove me wrong. One of their often-repeated claims is that the US stock market is made up of a large share of technology companies, which tend to grow at a faster rate

CapEx is short for capital expenditures: new investment in fixed assets. These investments in fixed assets are largely responsible for economic growth and as such for increases in real wages. But as of lately, economic growth has not been what it used to be. Ever since the 2008 crisis, worldwide economic growth remains far below pre-crisis levels. What is the cause of this appalling economic growth? In short, because of the global CapEx crisis.... »

Now is perhaps the right moment to reflect upon the gold market. The gold price recently dropped below $1,300 per troy ounce and currently stands at a little bit less than $1,280/oz. After a strong beginning of the year, gold prices have suffered from a setback in recent months. To such an extent that the year-to-date return on gold measured in euro´s has turned slightly negative (-1.1%). The euro, after all, strengthened against the dollar. In effect, gold investors have nothing to show for due to the correction in gold prices in the past few months.... »