Gold has all the potential to go unprecedentedly high. But silver will be gold on
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China and the tax havens rule! The debt of US nonfinancial businesses had already surged in recent years, but when the Pandemic hit, businesses went on a borrowing binge as the Fed has repressed interest rates to record lows even for the riskiest corporate borrowers.
Out of the 150 European pension funds researched – which have combined assets under management worth $213bn (€174.9bn) – 85% expect the price of gold to increase over the next 12 months as jewellery consumption rebounds fully in line with the global economic recovery.
Talk of price inflation is everywhere now. Base effects from a year ago mean that readings of changes in consumer prices have jumped markedly. But some people are pointing to other statistics which might warn of future accelerating price inflation.
Something has got to give… If buyers step to the plate, we could see a tradable bounce/rally in government bonds. However, if this important support line fails to hold at (2), then TLT will continue to sink! Stay tuned!
At least 60 members of Congress from both parties have been unable to access data for weeks in the latest ransomware attack to strike the United States.
Jun 8, 2021 - 08:27:58 PDT
ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing.
Jun 8, 2021 - 08:14:11 PDT
The results of Fed interest rate policy are both clear and damning.
The Fed's track record on inflation predictions, housing predictions, bubbles, dot plots, and literally everything else has either been one big set of lies or one big set of misses. Perhaps it's a combination.
The higher they push phantom "assets" based on exponential increases in leverage, the greater the air gap between essential tangibles and fantasy.
U.S. Trade Deficit Narrows Slightly From Record Levels As COVID-Era Demand for Imports Lets UpJun 8, 2021 - 07:21:52 PDT
The goods and services shortfall declined to $68.9 billion for the month, down from the upwardly revised $75.02 billion in March
However, the Labor Department has struggled with seasonal adjustments compounded by the uniqueness of the virus situation, and the JOLTS numbers indicated that the jobs market is poised for continued strong growth ahead.
Nobody Wants Work: Job Openings Soar To All Time High 9.3 Million As Record Numbers Quit Their JobJun 8, 2021 - 07:17:51 PDT
Finally, confirming the overheating in the labor market sparked by "Biden's trillions" and the tsunami of unemployment benefits which has prompted a wave of revulsion toward work in general, in April the level of quits - or people leaving their job voluntarily due to better prospects elsewhere -
U.S. small-business confidence edged lower last month, the first decline in four months, as a nationwide labor shortage and inflation worries weighed on business owners' economic outlook, according to a survey released on Tuesday.
There are many warning signs a correction is approaching. We discuss the limitations of technical analysis and importance of risk management.
Never mind the return to normal, Wall Street’s private equity shops are staging a return to abnormal. Leveraged buyouts are happening at a speed and extravagance that had been unique to 2006 and 2007, the run-up to the financial crisis.
Growth is surging, the housing market is hot, and inflation is on the rise. It’s time to pull back. The Federal Reserve announced a new policy doctrine almost a year ago. In essence, the Fed said it would no longer consider lags when making monetary policy, forsaking the policy of “pre-emption” that was standard under Fed heads Paul Volcker, Alan Greenspan, Ben Bernanke and Janet Yellen. Jerome Powell’s Fed believes the party is just getting started and won’t remove the punch bowl until the fun is in full swing and the neighbors know it.
Rising costs at its factories could trickle out into the rest of the world economy. Prices are jumping in the United States and around the world, prompting growing warnings that a wave of inflation could threaten the global economy if it persists.
In 2020, gold-backed ETFs recorded record net inflows of gold. Funds added nearly 231 more tons in 2020 than they did during the previous record year (2009/646 tons). But with declines in the price of gold and investors pivoting to riskier investments as economies improve, we've seen net outflows of gold from ETFs over the last three months.That trend reversed in May as gold-backed funds globally added 61.3 tons of gold, according to the latest data from the World Gold Council.
Gold prices hovered near the key level of $1,900 an ounce on Tuesday, supported by a weaker dollar and lower bond yields, while investors awaited U.S. data later this week to gauge inflationary pressure.
U.S. Republicans Vow to Oppose Yellen’s G7 Tax Deal, Casting Doubt on Its FutureJun 8, 2021 - 05:42:57 PDT
Several top U.S. Senate Republicans on Monday rejected Treasury Secretary Janet Yellen's G7 deal to impose a global minimum corporate tax and allow more countries to tax big multinational firms, raising questions about the U.S. ability to implement a broader global agreement.