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[To repeat,] Canada's concentrated bet on real estate and construction, while creating jobs in the short term, is putting Canadian economy at greater risk in the future [and, with it unlikely that] Canadian households will significantly increase disposable income in the near future, any deleveraging could therefore prove to be quite painful.

The Dow is just a "pinch away" from a series of resistance lines, ranging from 13 years to 31 years, that have marked important emotional highs & lows in the past suggesting that once the Dow reaches 16,000 or so it will correct.

The rich are getting richer and that’s good news for everyone. I’ll tell you why in a minute. First, let’s look at where the millionaires are — and where their number are growing the fastest.

Silver is less predictable than gold. Its ups and downs are far more pronounced than gold's and occur with greater regularity and its declines are far more damaging. That unpredictability makes silver no longer worth the risk...

It wasn't so long ago that irrational exuberance over the housing market had seized investors' logic, and the same thing is happening to US stocks right now. Fair-weather investors are abandoning gold equities and jumping into the US market in the hopes of making an easy buck, just as people bought property near the housing peak hoping to flip it before those adjustable-rate mortgages reset... My advice: don't gamble your savings on the hope that there will be a greater fool who will come along and buy your inflated assets at even higher prices.

The GNP numbers came out this week for the first quarter of 2013 and there was 1.8% growth yoy to $16.236 trillion...What does this mean to your equity positioning?

Time for another sentiment update 0n what the various surveys and committment of traders have to say about the future price expectations for the U.S. stock markets, U.S. Treasury bonds, various currencies and a wide range of commodities including gold and silver. "And the surveys say...!"

France continues to pose the biggest near-term risk to the euro area's economic recovery. Why France some may ask? [Here's why.]

Two charts today, both from Goldman Sachs, focus on US equity valuations and suggest that the secular bear market in US stocks is over. Are we really experiencing an historical anomaly that falls into a "this time is different" narrative or is the current secular bear market not over just yet?

The Pebble Mine Project is a world-class copper, molybdenum and gold deposit in Alaska with the potential to employ over 16,000 in high-paying jobs across a wide range of industries for 30+ years boosting the state ecomomy and generating significant tax revenues in the process.