A reader diagnoses how she thinks the U.S. went off the rails:
“My work is in the public sector. I have watched entitlement programs (welfare, if you will) take away any and all incentive to work, earn and accomplish.
“There is no pride or sense of fulfillment, no relationship to critical thinking and self-respect; no regard for others. This is toxic for society and it’s something I see mainly in crumbling, democrat-run big cities.”
And another reader believes she has the antidote:
- “Eliminate socialism and put responsibility for charity back where it belongs — in the hands of individuals and civic organizations
- Eliminate cronyism and return the U.S. to a true, free market economy
- Eliminate subsidies that mostly benefit large corporations.”
More food for thought. Keep sharing your opinions.
Your Rundown for Wednesday, Oct. 9, 2019:
Gold Miner’s Hotter
Newmont Mining Corp. finalized its $10 billion buyout of smaller Goldcorp in the second quarter of 2019, making it the largest gold producer in the world.
Thus Newmont Goldcorp was born in April.
And as you can see from the chart, shares cratered…
[You might recall: Canada’s Barrick Gold — once the largest gold producer in the world — was moving towards a hostile takeover of Newmont. It didn’t happen… and the two companies are actually “playing nice,” joining forces in mining operations in northern Nevada.]
But things have been on the upswing for the mining company since.
The Denver Post reports: “Newmont Goldcorp CEO and President Tom Palmer said the company is on track to deliver what it pledged to do when it undertook the merger that made it the world’s largest gold-mining business.”
In fact, NEM is killing it: “It’s going very well in terms of delivering on the value that we committed to deliver from [the Goldcorp] acquisition,” Palmer says.
“We talked about the $365 million per annum run rate by 2021,” he continues. “After 22 weeks we’re tracking at a $200 million run rate, so we’re well ahead of what we committed to.”
Analysts’ consensus? NEM is ranked in the top 3% of mining stocks to own — a strong buy.
Market Rundown for Wed. October 9, 2019
S&P 500 futures are up 21 points to 2,914.23.
Oil is up 63 cents to $53.26 for a barrel of WTI.
Gold is up $9.30 to $1,513.20 per ounce.
Bitcoin’s up $238.58 to $8,430.24.
Have a great day. We’ll talk again tomorrow.