Gold has all the potential to go unprecedentedly high. But silver will be gold on
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If you were planning to do a “Roth IRA” conversion to keep your retirement savings permanently out of the hands of the IRS, you might want to get on it. The new tax bill on Capitol Hill is going to scrap these conversions for everybody after the end of the year — and, no, not just for those earning more than $400,000 a year.
Faster inflation is a given. Now economic growth faces greater challenges.
That bet, which is lower than the 2.5% the Fed itself projects, reflects the belief that policy tightening may end before interest rates hit the Fed's 2% inflation target. It implies "real" U.S. interest rates will remain negative.
The International Monetary Fund warned of “economic collapse” in some low-income countries unless creditors in the world’s richest nations suspend debt-service obligations and help renegotiate new terms.
Four Fed officials on Thursday again signaled that they would likely move to more quickly draw down the central bank’s pandemic-era policy of aggressively buying bonds and other securities.
Oil prices are primed for gains as Thursday’s decision by OPEC+ to proceed with planned production increases won’t derail an ongoing structural bull market, according to analysts at Goldman Sachs Group Inc.
Yesterday may only be the beginning of the every day investor realizing not just that there’s an inflation problem, but more importantly that we may not have the solution for it.
The study found that 45% of American families said they experienced either severe or moderate hardship due to inflation. Lower-income households were more likely to say that rising prices are causing financial pain, with 7 in 10 families with annual income of less than $40,000 saying they are experiencing hardship. By comparison, roughly a third of families earning more than $100,000 said the same.
The lingering pandemic has made many people too nervous about potential worst-case scenarios to dip into their savings.
When a state creates a currency without real reserve backing or demand, it destroys money.
That’s the big question. Looking for signs of widespread push-back but not finding much. Consumers pay whatever.
Success in the market depends on how well producers are able to satisfy the demands of consumers. For this reason, the free market is far more under popular control than is government policy in a democracy. People have different preferences, and there is no way for a political system to establish a consensus that everybody will accept.
Dec 2, 2021 - 07:47:11 PST
President Joe Biden's Build Back Better Act is likely to end up costing taxpayers about double what the official price tag suggests, and much of that hidden cost will end up being added to the national debt.
EU Fines HSBC, Credit Suisse, Barclays 344 Million Euros ($390 Million) for Rigging FX MarketDec 2, 2021 - 07:42:54 PST
EU antitrust regulators on Thursday fined Barclays , Credit Suisse, HSBC and NatWest 344 million euros ($390 million) for foreign exchange market rigging, closing a key chapter in a high-profile investigation. UBS avoided a 94 million euro fine by alerting the European Commission to the cartel, which was set up via a chatroom known as "Sterling Lads". HSBC received the largest...
Advisers to China's government will recommend authorities set a 2022 economic growth target below the one set for 2021, giving policymakers more room to push structural reforms amid growing challenges to the outlook.
With time, we’ll know the solutions. However the central bankers who meet this month don’t have the luxurious of time. The US Federal Reserve meets on December 14-15, the Financial institution of England and the European Central Financial institution on December 16. Will Omicron be a drag on demand that requires stimulus? Or an additional increase to inflation that requires tighter financial coverage?
House Strikes Deal to Avoid a Government Shutdown One Day Before DeadlineDec 2, 2021 - 07:30:10 PST
The House struck a deal to prevent a government shutdown, but the funding bill could face opposition in the Senate.
Investors are waiting for weekly jobless claims data, which come a day ahead of key November nonfarm payrolls. Friday’s jobs data will be closely watched after Fed Chairman Jerome Powell on Tuesday told a Senate Banking hearing that a speeding up of tapering of monthly asset purchases could be warranted amid higher inflation and stronger growth.
Both the stock market and bond market had huge intraday swings. Let's investigate the likely cause as well as excuses.
Hedge Funds Are Liquidating At A Furious Pace.... And Retail Investors Are Buying It AllDec 2, 2021 - 05:42:14 PST
While it doesn't take a rocket surgeon to figure out why hedge funds were rapidly derisking, among the reasons for the mass exodus were both tax-loss harvesting ahead of the end of the year, as well as locking in profits that despite the recent turmoil remain more than 20% for 2021.