Gold has all the potential to go unprecedentedly high. But silver will be gold on
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We should understand, though, that there are a ton of signs pointing to a very specific stage of the broader market cycle. That would be well past the “euphoria” stage, into the “anxiety” stage, headed for the “denial” and “fear” stages which mark the official onset of a bear market.
Economic policymakers have said inflation will prove temporary, but rising rents may challenge that view and pressure Washington to react.
Oct 15, 2021 - 08:02:09 PDT
Dems Want to Soak the Rich by Snooping on the Poor
"The dubious constitutionality of the Federal Reserve System set up in 1912 might have been overlooked if it had provided price stability, lower unemployment, or enhanced economic growth." ~ Robert F. Mulligan
Corelogic takes a look at understated rent and understated Owner's Equivalent Rent.
Oct 15, 2021 - 07:39:31 PDT
From 2020, much higher today! Money Supply Up Over $3 Trillion Since March
Gold prices fell on Friday as a rebound in U.S. bond yields and a surprise increase in September retail sales dented the metal’s appeal as a safe-haven asset.
UMich Sentiment Slumps To Second-Lowest Since 2011, Inflation Expectations SpikeOct 15, 2021 - 07:24:57 PDT
Following September's modest rebound from Q2's plunge, early October data from UMich sentiment survey was expected to show the rebound continued, but it did not. Preliminary October sentiment slipped from 72.8 to 71.4 (well below the 73.1 expected). That is the second-lowest level since 2011, as Americans grew more concerned about both current...
Last week's jobs numbers came in weaker than expected. September's CPI came in hotter than expected. That puts the Federal Reserve between a rock and a hard place. Does it tighten monetary policy to fight inflation? Or does it keep stimulating to boost the economy? In this episode of the Friday Gold Wrap, host Mike Maharrey breaks down the data and says it's about time for the central bank to pick its poison.
Given the flip-flopping nature of the last 5 months, US retail sales are expected to decline modestly in September (and if BofA's excellent predictive track record continues, the drop in retail sales could be a lot worse). However, for once, BofA was way off as Retail Sales surged 0.7% MoM in September (far better than the -0.2% expected) and August's data was revised higher from +0.7% to +0.9% MoM.
I am doing something different this month. In past reviews of the CPI, I typically take the BLS data and recalculate the values to get a more detailed number that is rounded to two decimal points instead of one. This methodology also allows me to show the impact of each component on the top-line number.
Fed’s Bullard Sees Real Risk That Inflation Remains Stubbornly High Next YearOct 15, 2021 - 05:28:47 PDT
St. Louis Fed President James Bullard said Thursday that he sees a real risk that inflation remains stubbornly high next year.
But the people in power won’t even say as much, let alone do something about it.
Grant Thornton’s Diane Swonk said she doesn’t expect inflation in the U.S. to slow down significantly until 2023, showing the risks the Federal Reserve faces if it moves too slowly in removing the pandemic-era stimulus from the economy.
Can Digital Money Replace Cash? Central Banks Are Charging Ahead: Barron'sOct 15, 2021 - 05:05:18 PDT
As governments around the world redesign the financial sector with new infrastructure and digital money, it is time to reconsider what matters. Moves by central banks to issue new digital currencies need to be scrutinized for how they affect people’s rights, such as privacy, choice, and access to the economy.
Japan Central Bank Will Seek Digital Yen With ‘Simple’ Design, Says BOJ OfficialOct 15, 2021 - 05:03:12 PDT
Any digital currency the Bank of Japan issues should have a simple design that private firms can use to develop financial and payment services for customers, a senior central bank official said on Friday.
There was some speculation today that the long-awaited SEC decision on a futures-based bitcoin ETF was imminent, which is what sparked the earlier surge in the crypto sector.
The Bank of England's deputy governor for financial stability, Jon Cunliffe, has warned that cryptocurrencies could spark a global financial crisis unless tough regulations are introduced.
Climate Change Poses Systemic Threat to Entire Economy, Biden Plan WarnsOct 15, 2021 - 04:48:54 PDT
The roadmap is part of the White House’s longer-term agenda to slash domestic greenhouse gas emissions nearly in half by 2030 and transition to a net-zero emissions economy by mid-century while mitigating the impact of climate change on the economy
This is my newest interview with Tom at Palisades Radio on how the world is heading towards the Energy Cliff. Tom does an excellent job of allowing me the opportunity to discuss these important energy issues that most tend to ignore. For example, most investors have no idea how the...