Gold has all the potential to go unprecedentedly high. But silver will be gold on
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New home sales came in much lower than expected, but prices continued to rise.
COVID-19 has had a disproportionate impact on the poor and vulnerable in 2021. Through this series of charts and graphs, we share select research from the World Bank Group that illustrates the severity of the pandemic as it enters its third year. We also reflect on the Bank’s rapid and innovative response to the crisis.
Debt in low-and middle-income economies has climbed to levels without precedent in modern times, writes the World Bank's Marcello Estevão.
End of Easy Money: Global Tightening Full Swing, While the Fed Promises to Wake Up in Time Next YearDec 23, 2021 - 11:00:52 PST
Central banks jacked up rates to catch up with run-away inflation, but most fell further behind; only Russia caught up. The Fed didn’t even try.
This analysis focuses on gold and silver physical delivery on the Comex. See the article What is the Comex for more detail.Silver is wrapping up December which saw the highest delivery volume since the Reddit Silver Squeeze in March. At 8,847, this month will probably come in slightly below last December, even with 330 contracts outstanding. Regardless, December reversed a downward trend that has been in place since last July except for March (see declining bars below).
The underlying cause is no mystery. Starting in March 2020, the US government created about $3 trillion of new bank reserves (an equivalent to cash) and sent checks to people and businesses. The Treasury then borrowed another $2 trillion or so and sent even more checks. The total stimulus comes to about 25% of GDP, and to around 30% of the original federal debt.
The bottom line is that consumer price inflation has probably been much higher than stated in official statistics over the years. After all, your basket of goods and services is not the same as mine. Not that I buy a basket-full of candy bars every week (I wish). Nevertheless, when, and if, Santa comes down your (environment-friendly) chimney tomorrow night, expect him to glide down gently on account of a deflating sack.
The December Final Report came in at 70.46, up 3.2 (4.7%) from the November Final. Investing.com had forecast 70.4. Since its beginning in 1978, consumer sentiment is 17.9 percent below the average reading (arithmetic mean) and 17.0 percent below the geometric mean.
Dec 23, 2021 - 08:16:20 PST
The survey of 1,000 adults — conducted by OnePoll on Dec. 13 — aimed to get an “end of year reflection” on many subjects and found that 53 percent feel 2021 has been a very unpleasant year for them. However, seven in 10 still have high hopes that 2022 will be an improvement over the previous year.
Dec 23, 2021 - 07:55:15 PST
Inflation keeps clubbing Americans to death. This time in the form of New Home Sales prices.
Despite the Fed’s accelerating tapering plan, inflation is here to stay and will become a key economic indicator next year.
Dec 23, 2021 - 07:45:51 PST
Researchers at Oregon’s Reed College are hoping to learn about the behavioral economics that drive gambling addictions in humans by teaching pigeons how to play slot machines. And federal taxpayers are paying for it.
Few industries have suffered as much as the airline industry in recent years, and now the executives in this industry are pleading with governments to ditch emergency covid testing
U.S. households have struggled in the last year to meet basic needs, such as paying energy bills. This year, costs may be even higher.
Campbell, Kraft Heinz and other food makers are cutting or adjusting school offerings from soup to cereal.
If you think the Fed, Fed Fund futures, or current rates predict anything, you may wish to reconsider.
The Bloomberg Dollar Spot Index steadied on Thursday after its biggest three-day drop since the end of November, boosting bullion’s appeal. Silver held gains after the final U.S. gross domestic product reading was revised higher, bolstering the outlook for metals exposed to industrial production.
With the "transitory" inflation narrative dead and buried, the powers that be have shifted to a new tactic to deflect their responsibility for rising prices - blame somebody else.Elizabeth Warren recently claimed that rising prices were due to "price gouging" by "greedy" corporations. But the evidence says otherwise. In fact, producer prices have risen faster than consumer prices. That means businesses have only passed on some of their higher costs to consumers. If anything these "greedy" corporations have allowed consumers to gouge them.
Are we heading toward a Fed policy that fixes inflation at a permanent rate of five to six percent?We could be.But inflation is a policy that cannot last.
Ray Dalio Says Your Cash Savings Are Not Safe and Will Be ‘Taxed by Inflation’ but Not With GoldDec 23, 2021 - 06:01:29 PST
The billionaire founder of the world's largest hedge fund says "cash is trash."