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Charles Hugh Smith argues that it is delusional to expect to get rich while producing nothing. It is a lesson many Americans may soon learn.
JPMorgan To Pay $15.7 Million To Settle Lawsuit Manipulating Prices of U.S. Treasury Futures, etc.Sep 24, 2021 - 09:03:27 PDT
JPMorgan Chase & Co agreed to pay $15.7 million in cash to settle a class action lawsuit by investors who accused the largest U.S. bank of intentionally manipulating prices of U.S. Treasury futures and options. The settlement disclosed late Wednesday night stemmed from sprawling U.S. government investigations into illegal trading in futures and precious metals...
Losses will be taken and sacrifices enforced on those who don't understand the Chinese state will no longer absorb the losses of speculative excess.
10-Year Yield Jumps to 1.43% as Bond Market Reacts to Tapering, Rate Hikes, and InflationSep 24, 2021 - 09:00:37 PDT
The Fed is getting nervous about inflation. “Temporary” doesn’t cut it anymore. And the bond market is getting a whiff of it.
From stimulus boom to income thud, the coming "reversion to the mean" of economic growth is happening faster than economists expected.
Physical gold demand in top consumer China rose this week as buyers sought cover from the potential fallout of the Evergrande crisis coupled with factors including a seasonal pick-up in activity. In China, premiums rose to $7-$12 per ounce over global benchmark prices, from $5-$9 last week.
Central bank digital currencies are on the way. The German Central Bank just embraced a digital euro. Let's discuss the risks.
Wouldn't it be cool if you could just talk and your words would alter reality?It would elevate you to superhero status — or super-villain depending on your propensity to use your power for good or evil.You know, there's a real-life person who at least appears to have this superpower.
First off– the Fed expanded the money supply last year more than in any other year in US history except for 1943. That’s obviously going to have an impact.
After a disappointing (and surprise) slump in existing home sales, new-home-sales were expected to extend the very modest July rebound (+1.0% MoM) in August (+1.0% MoM exp) and they were right with new home sales rising 1.5% MoM (and July’s 1.0% MoM revised dramatically higher to a 6.4% MoM surge).
China's home prices are at risk of "meaningful downside" regardless of what happens to China Evergrande Group, according to Citigroup analysts, in what would be a further drag on the country's economic growth.
It looks like we are on track for yet another global financial meltdown. This time it is coming out of China in the form of a failed property development company called Evergrande. It’s five times bigger than Lehman Brothers, whose failure cratered the global economy in 2008. Will central banks, including the Fed, just let it all fail or will they print massive amounts of money trying to stop the fall?
The Treasury secretary must wade into a standoff between Democrats and Republicans over raising the debt limit.
The US Treasury defaulted three times on its treasury bills in 1979, but the problem is primarily one of politics, not insolvency. Another default may be enough of a shock to get the parties together to work on real solutions.
The Senate will vote on Monday on whether to take up a House-passed bill to avoid a government shutdown and suspend the nation's borrowing limit.
Sep 24, 2021 - 07:03:40 PDT
Federal Reserve Board chairman Jerome Powell makes opening remarks at the Fed Listen forum to discuss the economic recovery from the COVID-19 pandemic. Representatives from nonprofits, small businesses, unions, the hospitality and entertainment industries, and education participate.
The Federal Reserve wrapped up another FOMC meeting with a whole lot of talk and very little action. Interest rates remain at zero and quantitative easing continues unabated. The mainstream headlines are all focusing on the prospect of QE tapering. In this episode, Friday Gold Wrap host Mike Maharrey explains why he'd write a completely different headline about this Fed meeting.
“Moving forward, investors should understand that, unless anything noteworthy happens to the dollar index, gold prices will likely be influenced more by investors’ risk appetite,” wrote Naeem Aslam, chief market analyst at AvaTrade, in a daily note.
With Democrats in Washington pushing for a $3.5 trillion 'social infrastructure' stimulus package and Speaker Pelosi perhaps hinting at the removal of the debt ceiling altogether for the US, it is perhaps no surprise that some are 'worried' that the idea of consequences is absent from any discussions.
The People’s Bank of China vowed to stop all companies from facilitating cryptocurrency trading. The central bank has vowed to crack down on illegal activities of cryptocurrency trading and banned overseas exchanges from providing services to mainland investors