Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

Santa’s Shiny Ornaments

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I have been enthusiastic about precious metals for years. There are a couple of reasons why I was able to defy my own instincts to just short everything in sight and make a special exception for precious metals:

  1. I wanted to do whatever I could to get away from being labeled nothing but a permabear, so I wanted an entire sector for which I could be a cheerleader;
  2. I perceived the success of precious metals as a hearty poke in the eye to central bankers around the world, so philosophically it was a very agreeable position.

I just randomly jumped back a couple of years to offer up a tidbit of evidence that I loved precious before loving precious was cool, and I found one not very subtly titled Go Go Gold in which I state how bullish GDX and GDXJ look. They’re up about 250% since then. Not bad!

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New Macro; Gold, Stocks & Debt

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The new macro features real assets over paper/digital assets

I have harped upon the symbolic picture of the new macro since 2022. That was the year that the trend in long-term Treasury bond yields was broken in a fierce rebellion by a bond market that had enough of the previous decades of monetary and fiscal chicanery.

It’s over folks. What was – a disinflationary continuum in declining yields permitting the Fed and government alike to print/bailout/inflate at will – no longer is. Period.

Line graph depicting the 30-Year US Treasury Yield Index with annotations highlighting key economic events and figures, including monthly exponential moving averages and a commentary on inflation trends.
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Powerful Precious

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If there’s one asset class I’ve been steadfastly bullish about for over a year, it’s precious metals. I’ve mentioned the Slope theme (bullish precious/bearish equities) ad nauseum, and in spite of my completely ham-handed trading with the beast, my enthusiasm for precious metals has been correct.

That’s all the more reason I’m cheering on the latest breakouts – – and the plural is deliberate. We have precious metals miners:

GDX
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