Gold has all the potential to go unprecedentedly high. But silver will be gold on
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After unexpectedly jumping to five-week highs last week, analysts expected initial jobless claims to return to a decline once again this week. They were wrong as the number of Americans applying for unemployment benefits for the first time jumped to 362k (from 351k), significantly worse than the 330k expected.
Supply Chain Issues and Energy May Spark ’70s-Style Inflation, Economist Stephen Roach WarnsSep 30, 2021 - 05:30:21 PDT
Morgan Stanley Asia's former chairman is worried the energy price spike's impact on China's struggling supply chain will be the tipping point.
Powell: “Tension” Between Jobs, Inflation Is the Chief Challenge Facing FedSep 30, 2021 - 05:27:43 PDT
Resolving "tension" between high inflation and still-elevated unemployment is the most urgent issue facing the Federal Reserve right now, Fed Chair Jerome Powell said Wednesday, acknowledging the central bank's two goals are in potential conflict.
Sep 30, 2021 - 05:23:58 PDT
I call this “lending into the storm.” A national mortgage lender has just introduced a 105 Loan-to-value (LTV) ratio loan and a lowering of FICO scores from 660 to 620. Now, the loan still requires 97% LTV with downpayment assistance and gift funds permitted to boost CLTV to 105%.
With The Fed helping to raise home prices at a whopping 20% YoY, …
A deep dive into changes in the Fed's balance sheet show it is purposely goosing housing.
Sep 30, 2021 - 05:19:24 PDT
Even if you grant Biden allowances that he really meant "My package will be fully paid for by tax hikes," it's still a lie.
Supply constraints thwarting global economic growth could still get worse, keeping inflation elevated longer, even if the current spike in prices is still likely to remain temporary, the world's top central bankers warned on Wednesday.
Treasury Yields Take a Breather As 10-Year & 30-Year Debt Head for Sharpest Monthly Rise Since MarchSep 30, 2021 - 05:09:27 PDT
A selloff in U.S. government bonds on Thursday was taking a breather, nudging yields slightly lower, but the advance for the benchmark 10-year and 30-year debt is set to mark the biggest gain since March, Dow Jones Market Data show.
A reputational crisis at the Fed has led to the resignation of two senior officials within the central bank, raising questions about the strength of the Fed’s guardrails around personal financial interests.
U.S. Fed Navigates Policy Minefield With Impending Digital Dollar ReportSep 30, 2021 - 05:05:28 PDT
The U.S. Federal Reserve board will soon issue a hotly-awaited report exploring the potential adoption of a digital dollar, but with its governors and other policymakers divided on the issue - and with so much at stake for the financial industry - the central bank will likely tread carefully. Worried that an explosion in cryptocurrencies could weaken their grasp...
Ballooning energy prices are giving fresh support to a view that has been all too rare in Europe’s bond markets for more than a decade -- that inflation is back and it’s not going away any time soon.
Minchin Slams Dems Spending Plan As “Definition Of Fiscal Insanity” and on Vengeful' TaxationSep 30, 2021 - 05:00:35 PDT
Moderate Democrat Sen. Joe Manchin of West Virginia has issued a statement over his refusal to back his party's $3.5 trillion spending plan, calling "trillions more on new and expanded government programs" the "definition of fiscal insanity" when we "can't even pay for the essential social programs, like Social Security."
Senate Strikes Deal To Avert Shutdown, But Remains Deadlocked On Debt-Ceiling, Domestic AgendaSep 30, 2021 - 04:57:04 PDT
Now that Sen. Joe Minchin has denounced his own party’s multi-trillion plan to expand the social safety net as “the definition of fiscal insanity," we can be virtually assured that the entire Democratic domestic agenda has essentially been left dead in the water, since the progressive Left won't agree to back the Dems' "bipartisan" infrastructure plan via...
(October 1, 2021) - Beginning today, you will no longer have to pay sales tax when you buy gold and silver in the state of Ohio.Last summer, Ohio Gov. Mike DeWine signed a bill into law that exempts gold and silver bullion and coins from sales tax. This will not only relieve some of the tax burdens on investors in the state; it will also take a step toward treating gold and silver as money instead of as commodities.
They say there's no bad situation that the government can't make even worse.And that certainly seems to be the case right now. The government's extreme intervention has resulted in an economic & financial system now dependent upon ever more stimulus. But suddenly, there are a number of government-created curveballs...
Americans need to be prepared for possible high propane price spikes ahead, especially if we have a frigid winter. With current U.S. propane inventory stocks at the lowest levels in more than five years, the wholesale propane price has jumped to the highest level since 2014. However, this shouldn't be happening. Why?
Renewable power systems are at least five times more copper-intensive than conventional power. More and more silver is being demanded for use in PV cells, as countries move towards adopting renewable energy sources.
The dollar, an alternate “safe haven”, traded near a 11-month high against rival currencies, even though a deadlock in Washington over the U.S. debt ceiling threatened to plunge the government into a shutdown.
The ideal setup for a crash is a consensus that a crash is impossible--in other words, just like the present: sure, there are carefully measured murmurings about a "correction" but nobody with anything to lose in the way of public credibility is calling for an honest-to-goodness crash, a real crash, not a wimpy, limp-wristed dip that will immediately be bought.
How is Washington responding? Democratic progressives and moderates are sniping at each other over how big to go with a sprawling, multi-trillion-dollar economic plan. President Joe Biden and his public health advisers can’t agree on who should get booster shots. And Uncle Sam is threatening to default on his debts.