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Portfolio Page Updated 1/7/12

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Portfolio Page has been Updated 1/7/12

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MM Admin — Thu, 14 Jul 2011 11:03:00 -0400

The MurkyMarkets.com portfolio page, which includes a selection of gold, silver, uranium and alternative energy stocks remains active and updated. At this time Mr. Galakoutis will not be publishing any market commentaries.

Minyanville: Why the Argument for Imminent Inflation Is Flawed

Christopher Galakoutis — Thu, 09 Dec 2010 08:41:00 -0500

Deflation is often referred to as falling prices, but that is not the correct definition. Falling prices are the effects of deflation. The opposite holds true when discussing inflation. Deflation results when the overall supply of money and credit contracts, which means that there is a lower supp...

More Gravy, or Liquid Filth?

Christopher Galakoutis — Sun, 12 Sep 2010 14:16:00 -0400

Of late the inflation argument has been anchored around the belief that sovereign credit risks in the western world are such that national currencies can collapse, bringing about overnight inflation as a result of a worthless currency.

Specifically, the spotlight has been on the US dolla...

Of Fed Heads and Rat-Holes

Christopher Galakoutis — Thu, 02 Sep 2010 13:37:00 -0400

The Federal Reserve announced earlier this month that economic conditions were “likely to warrant exceptionally low levels of the federal funds rate for an extended period.” As stated in a prior column the Fed follows the market when setting interest rates, and economic conditions are...

Minyanville: Central Banks: Heads They Win, Tails We Lose

Christopher Galakoutis — Tue, 24 Aug 2010 13:42:00 -0400

Back in mid-April, I warned readers of an imminent resumption of the deflationary wave. With a little luck on my s...

Mid-Summer Stock Rally Sending False Signals

Christopher Galakoutis — Mon, 23 Aug 2010 10:59:00 -0400

Stock markets around the world have rallied strongly since the start of July, snapping losing streaks for the year, and stepping back from the edge of the cliff after marching there to the beat of the Greek debt crisis.

The Chinese stock market for instance, as good an indicator as any gi...

Unemployment: The Elephant in the Room

Christopher Galakoutis — Mon, 16 Aug 2010 12:04:00 -0400

In the lead-up to the vote on the massive $787 Billion stimulus bill of February, 2009, the White House was touting the 8 per cent unemployment level as a number well within reach, given that the intent of the stimulus was to create jobs and promote investment and consumer spending during one of...

Are Central Banks Really in Control?

Christopher Galakoutis — Mon, 02 Aug 2010 21:26:00 -0400

It continues to amaze how market participants wait with bated breath the comments of central bankers, particularly the Federal Reserve and specifically those of current chairman Ben Bernanke.

In addition they clamor about the federal funds rate, and whether it will be increased from its c...

Are Comparisons to Great Depression Unwarranted?

Christopher Galakoutis — Mon, 02 Aug 2010 21:24:00 -0400

Much has been written in the last two years about the gravity of the financial crisis and the consequences for so many people around the world. Economics however is not physics, and finance and the markets even less so, which helps explain the wide-ranging opinion out there on whether the worst o...

The Vise Continues to Tighten

Christopher Galakoutis — Sat, 17 Jul 2010 08:51:00 -0400

We continue to read daily of the budget struggles not only at the US federal government level, but all the way down the line from the state and local governments to the essential service providers.

Tax revenues are the crucial variable in any budget formula, and they have been falling for...

Deflation is now the Primary Trend

Christopher Galakoutis — Sat, 17 Jul 2010 08:49:00 -0400

I find it very interesting to see advertisements all over the radio and on late night television about gold. This has been happening for a few months now.

We have even seen conservative talk show hosts on American prime-time cable television recommending this or that gold dealer, while le...

Standing Clear of Today�s Crowd

Christopher Galakoutis — Fri, 09 Jul 2010 17:30:00 -0400

I was asked the other day what I thought about the Gulf of Mexico oil spill and whether it would impact the markets in a negative fashion.

We see such questions posed every day. Looking for the edge, today’s market participants of every stripe, from the professional to the casual in...

Are Corporate and Muni Bonds a Safe Haven?

Christopher Galakoutis — Wed, 07 Jul 2010 09:17:00 -0400

With the stock markets seesawing their way out of the public’s comfort zone since the dramatic declines of 2008-2009, many investors have turned to the “safety” and “security” of bonds for piece of mind.

Is that piece of mind warranted?

We don’t...

China move on currency largely misinterpreted

Christopher Galakoutis — Thu, 01 Jul 2010 12:26:00 -0400

Both the stock markets and news reports have largely overstated, in my opinion, the Chinese central bank’s announcement on June 19 that it would further reform its exchange rate regime and increase the flexibility of the RMB exchange rate.

The knee-jerk interpretation -- rarely corr...

Gold: Where to from here?

Christopher Galakoutis — Fri, 11 Jun 2010 12:17:00 -0400

The focus of this month’s post will be about gold and the gold shares. Will the price of gold record 10 straight years of gains, or might it be in for a correction? A good starting point might be to understand what happened to gold and the gold stocks in the 1920’s & 1...

Is Gold Going Vertical?

Christopher Galakoutis — Wed, 09 Jun 2010 22:17:00 -0400

An article in the Wall Street Journal on 25 May, titled “Is Gold the Next Bubble” has gold investors frothing at the mouth.

It compared the rise in gold since 2001 to the rise of the NASDAQ in the 1990’s and the Dow Jones index of home-building stocks in the 10 years lea...

Protection of Capital Key in Decade Ahead

Christopher Galakoutis — Sun, 06 Jun 2010 15:22:00 -0400

It is becoming increasingly obvious to us that the stock market bounce from the economic disaster of 2008 has not been fuelled by real economic growth, but rather an inventory restocking cycle gone wild and government reflation efforts.

Like the movie “Weekend at Bernie’s&rdq...

The US Dollar Strikes Back

Christopher Galakoutis — Sat, 22 May 2010 08:11:00 -0400

Since 1913 and the creation of the US Federal Reserve, the US dollar has lost over 90 per cent of its value, in lockstep for the most part with the ballooning of the US money supply the majority of which is comprised of credit.

It hasn’t been much of a reach therefore for inflation...

Minyanville: Is Inflation Really Inevitable?

Christopher Galakoutis — Tue, 20 Apr 2010 14:59:00 -0400

Type the word "inflation" into Google News search and you get over 20,000 hits. Type the word "deflation" and you get barely over 2,000, and many of them in relation to Japan.

Apparently the laws of cause and effect and the repercussions of that effect are confined st...