Gold has all the potential to go unprecedentedly high. But silver will be gold on
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China’s housing market slump has intensified in recent weeks as sales plunge and more developers default on their debt. Now the downturn has reached another milestone: home prices have begun falling for the first time in six years.
Fed To Wait Until 2023 To Raise Rates, but There Is Risk of Earlier Hike: Reuters PollOct 20, 2021 - 05:08:44 PDT
The Federal Reserve will wait until 2023 before raising interest rates, according to a majority of economists in a Reuters poll who nonetheless said the greater risk for the U.S. economy was persistently higher inflation over the coming year. While half the members of the U.S. central bank’s policy-setting committee projected last month that the Fed would raise its...
Democrats Raise Proposed IRS Bank Reporting Threshold to $10,000 From $600Oct 20, 2021 - 05:06:32 PDT
Senior Democrats in Congress have agreed to raise their proposed tax reporting threshold for bank account inflows and outflows to $10,000 a year, with exemptions for wage income, from an earlier proposal of $600 that drew criticism for being too intrusive. U.S. Senate Finance Committee Chairman Ron Wyden on Tuesday said the new $10,000 Internal...
The departure means the European Central Bank will lose one of its most hawkish policy makers just as it ponders whether and how to shift away from its ultra-easy-money policies amid a surge in eurozone inflation.
Bundesbank Chief And ECB Uber-Hawk Weidmann Quits 5 Year Early With One Final Inflation WarningOct 20, 2021 - 05:01:23 PDT
Weidmann said he is quitting for "personal reasons" on Dec. 31, just days after the ECB is scheduled makes a crucial decision on winding down the pandemic-era stimulus that has pushed inflation to its highest rate in over a decade.
Guggenheim CIO Scott Minerd: Jerome Powell No Longer Favorite for Fed Chair JobOct 20, 2021 - 04:58:43 PDT
Guggenheim CIO Scott Minerd says the Biden administration may not reappoint Fed Chairman Jerome Powell due to rising political uproar on the institution's ethical standards.
Oct 19, 2021 - 15:32:25 PDT
The disruption the pandemic has inflicted on global supply chains is really starting to harm consumers. Prices for most items are up double digits in the past year. And product shortages are rampant these days.
Gold futures ended higher on Tuesday, bucking headwinds from a rise in global stocks, as a weaker U.S. dollar helped prices for the precious metal score their first gain in three sessions.
Meanwhile investor worries about U.S. debt are on the rise. Although President Joe Biden has signed a bill that provides a short-term increase in the U.S. debt limit, it only allows the Treasury Department to meet its financial obligations until roughly Dec. 3 -- meaning another bitter partisan confrontation will likely unfold in a matter of weeks.
Oct 19, 2021 - 12:59:55 PDT
China trimmed more than $21 billion of its holdings of US Treasury bonds in August to the lowest level since 2010, in what experts call a move to avoid financial risks amid concerns for a potential debt crisis in the US.
The entire Federal Reserve just got caught insider trading, and nobody seems to care. Join Mike Maloney as he shows evidence that we are moving faster and faster towards the ‘Endgame’.
In its latest GDPNow forecast published moments ago, the Atlanta Fed slashed its estimate for real GDP growth in the third quarter of 2021 to just 0.5%, down from 1.2% on October 15, from 6% about two months ago, and down from 14% back in May.
Oct 19, 2021 - 11:36:29 PDT
On October 13, Wall Street On Parade broke the story that the Federal Reserve had quietly released the names of the mega banks that had grabbed tens of billions of dollars of repo loans under the Fed’s emergency repo loan operations that began on September 17, 2019 – months before there was a COVID-19 case in the U.S. or anywhere else in the world.
The most important decision that authorities could make is to acknowledge the damage that the printing presses have caused and remove themselves from managing the so-called economy.
To explain the current purchasing power of money (PPM), the economist relies on the current anticipations of the future PPM. That is, people right now give up other goods for units of money, because these people expect that these units of money will be exchangeable for other goods in the near future.
No government looking to massively expand its size in the economy and monetize a soaring deficit is going to act against rising prices, despite claiming the opposite.
Oct 19, 2021 - 08:57:46 PDT
The yield curve has been flattening. What are the implications?
Sen. Bill Cassidy (R-La.), a physician, told me during an "Axios on HBO" interview that he favors cognition tests for aging leaders of all three branches of government.
Yellen Says Treasury Will Extend ‘Extraordinary Measures’ Until Dec. 3 Debt-Ceiling DeadlineOct 19, 2021 - 08:40:03 PDT
Treasury Secretary Janet Yellen told congressional leaders Monday she will extend extraordinary cash management measures to temporarily finance the U.S. government until Dec. 3, the new deadline for lawmakers to raise or suspend the debt ceiling or risk a first-ever default.
Sen. Joe Manchin’s (D-W.Va.) refusal to support the centerpiece of President Biden’s climate agenda puts the Democrats’ entire infrastructure and social spending agenda at risk.