Gold has all the potential to go unprecedentedly high. But silver will be gold on
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The surge in early retirements spurred by the pandemic is increasing inequality among Baby Boomers in the U.S., with older Black workers without a college degree more likely to be forced to exit the labor market prematurely, a study showed.At least 1.7 million older workers retired early because of the pandemic crisis, according to a report by the New...
Jun 4, 2021 - 10:02:31 PDT
Florida and Idaho are the nation’s most-recent winners of migration from other states. On the other end are perennial losers like California, New York, Illinois and New Jersey. Once again, those states experienced some of the nation’s biggest losses of both residents and their money.
The economy may stagnate, but inflation will remain high and as a result job markets will come under pressure. Supposedly governments will impose infrastructure projects to fight it, but they only will reallocate resources and hinder labor and capital to be used in parts of the economy where they would be more in need. High demand and falling supply is the perfect recipe for stagflation...
Jun 4, 2021 - 08:38:02 PDT
Jeremy Grantham said on Wednesday that real-estate bubbles were popping up in almost every market around the world and that eventually there'd be a "day of reckoning."
Hurricane season started this week. That means those of us who live in Florida are in preparedness mode - or at least we should be.For you landlocked readers, the notion of a hurricane kit is probably foreign to you. But for those of us who live in hurricane-prone coastal areas, updating the hurricane kit is a right of passage from spring into summer.
Gold rebounded from an over two-week low hit on Friday after a rise in U.S. non-farm payrolls fell short of expectations, although bullion was still on course to register its biggest weekly decline since March.
This is most definitely a signal from the financial system that the Fed’s money printing has reached its limit. It’s a crazy situation whereby the Fed is purchasing bonds every month, with the counterfeited cash going to the market, but then having to sell the bonds in reverse repos because the cash has nowhere to go.
The savings of the rich are recycled into household and government debt. We know three things about the U.S. economy: The rich are getting richer, everyone else is in debt, and interest rates have fallen. Is there a connection? Yes, and the link has implications for fiscal and monetary policy.
Stagflation anyone? What are you going to do Mr.Powell?
Watch Live: President Biden Explain Why A Second Disappointing Jobs Month Means His Policies Are WorkingJun 4, 2021 - 07:19:34 PDT
We are just guessing here but does anyone else think the president will use this opportunity to push for an even bigger "infrastructure" bill because [enters 'whisper-mode'] "it's the fair thing to do America."
Janet Yellen's latest commitment to support the Biden progressive agenda from higher taxes to unionization will lead to outsourcing of U.S. Labor.
With some positive economic data coming out this week, investors suddenly went bullish on the economy again and decided that the Fed is surely going to deal with inflation now. Will it though? In this Friday Gold Wrap Podcast episode, host Mike Maharrey speculates about the Fed's next move. He also looks ahead and talks about the long-term future of the dollar. Can we assume it will always be the reserve currency?
Every G-7 or G-20 meeting homage is paid to the idea of free markets via the market driven value of each nation’s currency. This is hogwash of the highest order in the world of central bank asset purchase programs. The clarion call is that QE is a domestic-based program meant to meet the inflation target set by the nation’s policy makers and any impact on a nation’s currency is just unintended consequences of keeping a country out of a potential disinflationary cycle.
Big-spending politicians will have to go where the money is—in citizens’ purses and wallets. To hear some politicians and commentators tell it, this will be a banner weekend for global tax policy. And you know what that means, dear reader: Hang onto your purses and wallets.
Britain said the world was relying on a gathering of some of the richest nations to agree reforms to outdated global tax rules, as finance ministers from the Group of Seven started a two-day meeting in London on Friday.
Biden'S G-7 Tax Offer Will Win Crucial Political Points in Europe With Tougher Battles AheadJun 4, 2021 - 06:27:21 PDT
Many European officials have for a long time called for joint approach to taxation.
Gold trades marginally higher leading into the European open. Gold fell 1.95% on Thursday's session but overnight the yellow metal traded as low as $1856.15/oz and is now holding at $1873/oz 0.11% higher. Silver is down -0.39% trading at $27.31/oz. Looking at the rest of the commodities complex, copper is trading half a percent lower...
May Payrolls Miss: 559K Jobs Added, Below Expectations; Unemployment Rate DropsJun 4, 2021 - 05:35:35 PDT
With so much of the recent labor market discourse focusing on widespread shortages resulting from Uncle Sam’s generous unemployment benefits (15 million people still collecting some form of weekly unemployment benefit), today’s jobs report which is expected to show a substantial rebound from April’s big miss, was set to be defining:...
The dollar index held near a three-week high on Friday and currency markets were subdued as traders waited for U.S. non-farm payrolls data later in the session.
In other words, the Fed — according to its own policies — is likely to act too late to prevent the economy from overheating. So no matter what prices do this year, the risk of higher inflation down the road remains elevated.