Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Silver could hit $30 per ounce highs over the next six months to a year, with imminent support seen from buyers eyeing value in the metal after its sharpest price slide in a month since February, Citigroup says.
Reuters reports No signs of progress from White House, Republicans in 'tough' debt ceiling talks
Democrats say wealthy Americans and businesses should pay more taxes. Republicans want spending cuts. Republicans also want to reverse funding for the IRS, a measure the Congressional Budget Office projects would reduce the deficit.
When the experts who oppose any sort of explicit default insist that default would bring disaster, what they really mean is that it would bring disaster for their friends on Wall Street and in the government. The experts prefer the status quo which is a slow-motion inflationary disaster that's playing out in the household budgets of ordinary Americans.
As the first signs of an economic tempest move through the United States—an alarming increase in bank failures, a surge in unemployment claims, and a troubling decline in retail sales—we find ourselves perched on the edge of a deep recession.
FOMC Minutes Show "Some" Fed Officials Push For More Hikes, Sees "Mild Recession In 2023"May 24, 2023 - 12:04:47 PDT
“The most prominent theme within the minutes of the May FOMC meeting was the collective caution, and uncertainty, around the credit tightening implications from the regional banking crisis,” says BMO’s US rates strategist Ben Jeffrey.
Fed Officials Less Confident on the Need for More Rate Hikes, Minutes ShowMay 24, 2023 - 11:02:32 PDT
Federal Reserve officials were divided at their last meeting over where to go with interest rates, with some members seeing the need for more increases while others expected a slowdown in growth to remove the need to tighten further, minutes released Wednesday showed.
Each year, Gallup conducts a survey of American adults on various economic topics, more specifically, respondents are asked how much confidence they have in the current Fed chairman to do or recommend the right thing for the U.S. economy.
Each year, Gallup conducts a survey of American adults on various economic topics, more specifically, respondents are asked how much confidence they have in the current Fed chairman to do or recommend the right thing for the U.S. economy.
Delinquencies in Subprime Auto-Loan-Backed Securities Have Second-Worst April Ever, Behind only Lockdown April: The Cost of ...May 24, 2023 - 07:51:06 PDT
In the free-money era, subprime auto lenders took huge risks amid seething demand from yield-chasing investors.
May 24, 2023 - 07:47:33 PDT
U.S. stock ownership has reached 61%, a level last seen during the Great Recession.
May 24, 2023 - 07:43:32 PDT
McCarthy says he told Biden that there would be no agreement to a ‘clean’ debt limit deal which wouldn’t include spending cuts, and that he won’t agree to raise taxes … telling Republican lawmakers that ‘we are nowhere near a debt ceiling deal yet.’
May 24, 2023 - 07:37:42 PDT
The Federal Reserve has taken a brief respite from fighting inflation that they helped cause. But with $188 TRILLION in unfunded entitlements promised by politicians, The Fed will undoubtedly start buying assets again (aka, QEInfinity) and the debt ceiling will keep being raised. In essence, the DC merry-go-round is broken and politicians will keep pushing it around until it collapses.
May 24, 2023 - 07:33:43 PDT
Last week it was President Macron who was rowing back on green measures. In a speech he asserted that Europe has, for now, gone far enough – if it introduces any more regulations without the rest of the world following suit then it will put investment at risk and harm the economy. This week, the European People’s Party – a centre right grouping which includes the German Christian Democrats, the party of Commission President Ursula von der Leyen – seems to be joining in.
U.S. money market fund assets hit a new record of $5.8 trillion this week as yield-hungry investors continued to turn to the short-term debt securities - a stark contrast to the 2011 debt- ceiling standoff when there were large outflows from the funds.
Taking a closer look at the digital euro — its promises, pitfalls and why people took to the streets to protest against it earlier this year. people worry that by issuing this digital currency, it’s all part of an attempt to get rid of cash and therefore give the central bank and then and by extension, the government, greater ability to surveil and to scrutinise and control how people spend their money, what people spend their money on.
Clients have a growing “alertness to the new world order”, says Ashok Sewnarain, chief executive of IBV International Vaults, the Mauritian company that owns the vault. “We have mistrust in the banks, huge inflation and a global divide on reserve currencies.” The rush to gold by the global elite is being mirrored by emerging market central banks. Last year central banks bought 1,079 tonnes of bullion — the most since records began in 1950.
Most people think the nation’s money supply is the sole cause of inflation. They fail to realize inflation has two equal dance partners. The money supply and the velocity of the money supply dance hand in hand to determine the rate of inflation.
A team of JPMorgan strategists led by Kolanovic trimmed its allocation to stocks and corporate bonds while boosting its stake in cash by 2%. Within the commodities portfolio, the firm also rotated out of energy and into gold on haven demand and as a debt-ceiling hedge — another move intended to strengthen the JPMorgan’s defensive posture.
Elon Musk Worries About an Advanced AI That ‘Eliminates or Constrains Humanity’s Growth'May 24, 2023 - 06:08:42 PDT
Tesla CEO Elon Musk weighed in on the dangers of artificial intelligence (again) today, with a dire warning. Speaking at the Wall Street Journal’s CEO Summit, Musk said, “There is a risk that advanced AI either eliminates or constrains humanity's growth.”
The US Treasury May Have to Break the Law to Keep the World’s Richest Nation From DefaultMay 24, 2023 - 06:03:58 PDT
Congress is putting US Treasury Secretary Janet Yellen in a tough spot. The next accounting maneuver that Yellen can take, in early June, is one that will have no real long-term impact if the debt ceiling is raised. The Treasury can postpone investment in a pension fund for retired and disabled federal employees; once the debt ceiling crisis has passed, these investments can resume. It’s a way of buying time to buy more time. I