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Flush with Free Money, Americans Spent Heroic Amounts, but Inflation Ate it UpAug 30, 2021 - 07:21:34 PDT
Pay More, Get Less. Spending on durable goods after inflation down 10% from historic spike. But services surged, pointing to next source of inflation.
Gold prices scaled on Monday to their highest in more than three weeks after U.S. Federal Reserve Chair Jerome Powell stopped short of providing any clear guidance on the timeline for paring economic support at the Jackson Hole economic conference.
From Covid risks to talk of a reduction in U.S. stimulus, there’s been no shortage of bad news for Asian currencies. An upcoming report on China’s manufacturing sector may add to the pressure.Traders are looking to Chinese factory data for clues on the global outlook after the world’s second-largest economy slowed more sharply than expected in July...
Federal Reserve officials are talking more about how to define a fuzzy concept—maximum employment—that will heavily influence their thinking around how much longer to keep interest rates near zero.
So, there're no certainties, but I think the inflation risks are graver than those that the Chairman recognized. I think that the toxic side effects of QE are rather greater than the Chairman recognized.
Federal Reserve Chair Jerome Powell on Friday pushed back against concerns that swiftly rising prices could become an enduring feature of the economy, forcing the U.S. central bank to raise interest rates and cut short the recovery.
Silver News! Silver Could Replace More Expensive Metals in Touchscreens; Tax Relief in OhioAugust 30, 2021
Silver could serve as a replacement for more expensive rare-earth metals in touch screens and other electronic applications according to an article in the latest edition of Silver News by the Silver Institute. Silver News also covers other technological developments and news relating to silver.
The “transitory” inflation swamping the country has stubbornly persisted into July. Producer prices posted a second straight 1% month-over-month increase, which brought the full-year number to a record 7.8%. Twelve-month US export prices rose 17.2%, and nearly 22% if the rate of the first seven months of 2021 were annualized. (I find it telling that those prices – which are subject to no after-the-fact data collection adjustments – are rising at a rate that is nearly triple the CPI).
Delayed Tax Refunds Prevent Closure for Millions Grieving Families During the PandemicAug 30, 2021 - 05:08:55 PDT
Millions of Americans have delayed tax refunds, and the issue may be worse for families with deceased loved ones. Here's how one family tackled the challenge.
Aug 30, 2021 - 05:05:01 PDT
The operator of the wrecked Fukushima nuclear power plant said Wednesday it plans to build an undersea tunnel so that massive amounts of treated but still radioactive water can be released into the ocean less than a mile away from the plant to avoid interference with local fishing.
Ida Now a Tropical Storm As More Than 1 Million Louisiana Utility Customers Are Left Without PowerAug 30, 2021 - 05:03:48 PDT
Hurricane Ida made landfall in Louisiana on Sunday as a Category 4 storm, one of the strongest storms to hit the region since Hurricane Katrina.
Weapons Proliferation Risk in Afghanistan Very Worrying As Terror Threat GrowsAug 30, 2021 - 05:00:29 PDT
DUBAI, United Arab Emirates — Saudi Arabia’s former intelligence chief says he is very worried that American weapons could fall into the hands of militant groups such as Al Qaeda, bolstering a sworn enemy of the United States in the wake of an exit from Afghanistan that he says was mismanaged.
Bonds yields were mixed but little moved on Monday, as investors look ahead to Friday's all-important jobs report.
PRECIOUS METALS UPDATE AUG 28th: Tying It All Together & Why Most Analysts Fail To Understand EnergyAugust 28, 2021
In this Precious Metals Weekly Update, I provide a short-term analysis of gold and silver and why it's important to factor energy into the market equation. Unfortunately, most precious metals analysts tend to ignore energy, which is a complete surprise to me because, without energy, there are no metals, mining industry, or economy...
Gold bounced over 1% on Friday after Fed Chair Jerome Powell stopped short of signaling when the U.S. central bank would start withdrawing its economic support.
Powell’s Benign View on Inflation Is Getting Pushback at the Fed, and ElsewhereAug 27, 2021 - 12:49:52 PDT
Fed Chairman Jerome Powell's conviction that the inflation whipping through the economy this year soon will subside is not universally shared.
Powell Uses 1970s Inflation Spiral to Show How “Temporary” Becomes PersistentAug 27, 2021 - 12:44:38 PDT
His “taper” discussion got all the attention, but his focus was on inflation.
The extra $300 a week in federal unemployment benefits, on top of state UI, were designed to give people enough money to pay rent.
Young investors are taking on personal debt to invest in stocks. I have not personally witnessed such a thing since late 1999. At that time, “day traders” tapped credit cards and home equity loans to leverage their investment portfolios.
The late and great Austrian economist Ludwig von Mises was the individual who logically conquered the impracticability and unworkability of Socialism, Communism & Fascism. But just because an idea can't work, doesn't mean that those with a lust for power won't attempt to pull it off anyway. These bad ideas end in a catastrophe that Mises called a "Crack-up Boom." Are you ready for it?