Gold has all the potential to go unprecedentedly high. But silver will be gold on
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The longer inflation stays high, the more people will expect it to continue in the future. That creates more problems.
"It is rarely prudent to assume that a central bank’s central planners can predict the future better than you can, or that they really know what they are doing and why." ~ Alan Reynolds
"As Omicron looms, and as surely as Pi, Rho, and Sigma will follow, voters should meet their fears with reason, view the media with a skeptical eye, and demand that politicians discuss tradeoffs openly and honestly." ~ Antony Davies
President Biden’s approval rating has plummeted, and Democrats wonder why. The United States is facing hardships, but hardships alone don’t make a president unpopular. Leaders who are honest about the problems we face and forthright about the solutions they offer tend to do well (think, say, of Franklin Roosevelt and Ronald Reagan). Unfortunately, that is not the leadership Americans are getting from this president.
Dec 29, 2021 - 09:03:12 PST
When Congress passed welfare reform in 1996, states were given more autonomy over how they could use federal funding for aid to the poor. They could demand welfare recipients find work before receiving cash assistance. They could also use their federal “block grants” to fund employment and parenting courses or to subsidize childcare. Twenty-five years later, however, states are using this freedom to do nothing at all with large sums of the money.
After a selloff in high-growth stocks during the waning days of the year, two-thirds of the companies that went public in the U.S. this year are now trading below their IPO prices.
We should wonder how productivity can soar when so many items are out of stock and companies don't have "that." This is a problem caused by supply chain disruptions. The ramifications loom large as shortages continue adding to the cost of doing business.
M2 increased by $249.2B in November. This represents a 1.16% MoM increase which annualizes to 15.1%. Although only a single month, 15.1% annualized growth exceeds the 6-month, 1-year, and 3-year averages. At this rate, it’s hard to believe inflation will subside on its own. The Fed can taper their asset purchases, but shrinking the Money Supply is the only way to rein in inflation.
Dec 29, 2021 - 08:12:02 PST
Well, at least construction materials are growing more slowly than energy prices! The Producer Price Index for Construction Materials rose at a 34.7% YoY pace in November.
The raging mania slows. But it’s still a raging mania.
The Fed is out of control. Here are a few charts that show by how much.
The value of imports rose 4.7% to $252.4 billion, led by industrial supplies. Imports of consumer goods climbed to a record $67 billion. Exports decreased to $154.7 billion.
More Americans Took On Holiday Debt This Season, Owing an Average $1,249Dec 29, 2021 - 07:28:25 PST
Most holiday borrowers with debt put it on their credit cards, although for the first time, nearly 40% of Americans used so-called buy now, pay later financing to spread out their expenses, the report found, which polled more than 2,000 adults from Dec. 14 to Dec. 20.
UK inflation has already breached 5 per cent and may hit 6 per cent early next year.
President Joe Biden's "build back better" spending bill seems to be dead — at least for the time being. But there is still plenty of spending coming down the pike. This raises an important question: how is the Federal Reserve going to simultaneously taper its bond-buying program and monetize all of this debt?On Monday, President Joe Biden signed a massive military spending bill into law.
Gold edged lower on Wednesday in slim trading as dollar strengthened and U.S. Treasury yields steadied after falling earlier in the session, though prices remained above the key level of $1,800 per ounce.
Turkish Central Bank Says To Support Conversion of Gold Deposits to LiraDec 29, 2021 - 05:52:15 PST
The Turkish Central Bank said on Wednesday it had decided to provide an incentive to those who convert their gold deposits and participation funds into Turkish lira time deposit accounts.
The volatile token was trading 1.3% lower at $46,965 as of 7:48 a.m. Wednesday in New York, following a near 7% drop the prior session. It has retreated some 18% this month, while the wider crypto universe has shed about $420 billion of market value over the period, according to tracker CoinGecko.
“The main driver for the dollar will be higher interest rates, but the issue is that a lot of it is already baked into markets,” said John Vail, the firm’s chief global strategist in Tokyo. “There’s dollar strength ahead, but don’t expect it to be spectacular.”
The number of Americans living without homes, in shelters, or on the streets continues to rise at an alarming rate. Judy Woodruff reports on why that is, and what more can be done to prevent it.