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Precious metals news
May 16, 2023 - 13:18:46 PDT
De Nederlandsche Bank (DNB) moved a combination of gold and cash worth nearly 15 billion euros to secure facilities in Zeist. The central bank of the Netherlands moved over 200 tons of gold bars and gold coins from a temporary facility in Haarlem to the new DNB Cash Centre over the past four weeks, the DNB said on Monday. A strategic supply of banknotes worth over 4.5 billion euros was also moved from Haarlem to the military location, Camp New Amsterdam.
May 16, 2023 - 13:13:50 PDT
Millions of working-age Americans aged between 56 and 64 are edging closer to retirement without having savings stashed away.
May 16, 2023 - 12:58:57 PDT
Americans' perceptions of the U.S. housing market are the worst Gallup has ever recorded, with 21% saying it is a good time to buy a house.
Raghuram Rajan, Professor of Finance at the University of Chicago and former Governor of the Reserve Bank of India, fears that the crisis in the US banking sector is not over. He explains why he thinks the stress in the financial system is an unintended consequence of easy monetary policy, and why a soft landing seems unlikely.
U.S. Economic Surprise Index From Citi Has Fallen Back Into Negative TerritoryMay 16, 2023 - 12:30:57 PDT
U.S. Economic Surprise Index from Citi has fallen back into negative territory to lowest since beginning of February … quite a swift decline from recent peak (which was just over 60)
US households showed signs of increasing financial stress in the first quarter, with credit card balances not declining in the way they typically do at the start of the year and delinquencies rising for most types of consumer loans.
Rise in Distressed Sales Signals New Chapter for Beleaguered Office Market: WSJMay 16, 2023 - 12:26:12 PDT
In a sign that the office market slump is moving into a new phase, property owners are starting to unload troubled office buildings at fire-sale prices.
In the real-world, the costs are all we know for sure and profits remain elusive and contingent.
Food costs have continued to rise in Britain, with prices for some meat products, yogurt, and vegetables doubling over the past year, according to the latest findings from the ‘Which?’ consumer insight tracker.
In the summer of 2020, the Smithsonian Institution created a chart meant to condemn what it calls “whiteness,” and it listed a number of characteristics it claimed were essential to “white culture.” Among the so-called characteristics it described in pejorative terms was delaying gratification, or s
State projects are funded by your money, either through taxation or by inflation, most times both. Money is either taken directly from you or you lose purchasing power. The result is the same, as you will lose the ability to buy or produce as much as you wanted because of these projects.
Household Debt as % of Disposable Income Fell to Good-Times Lows, on Much Higher Incomes Despite the OMG HeadlinesMay 16, 2023 - 12:08:22 PDT
New delinquencies way below the pre-pandemic lows. Bankruptcies at record lows. The OMG stuff in the media about household debt is funny.
May 16, 2023 - 12:04:52 PDT
Consumers have to spend more money just to buy the same amount of goods and services as last month.
Thanks to rising yields, the US government now has to spend more each year on servicing its immense debt burden than it spent on national defense in 2022.
Well, they might be done “raising” rates, but they shouldn’t be in the rate setting business—up, down or sideways— in the first place. That’s because market capitalism doesn’t work if financial asset prices are being pegged artificially and falsely by a 12-man monetary politburo rather than the vast throng of suppliers and users of funds in the global marketplace.
This year’s Strategic Investment Conference is wrapped up, but it’s not over. We spent five days thinking the unthinkable. I, for one, will continue not just thinking about it but meditating on it. I believe we got some serious insight into this decade’s fin de siècle. I’ve dubbed it The Great Reset. Others have different terms. Regardless, the implications and consequences are beginning to show themselves.
It has been a few years since we took a close look at Modern Monetary Theory (MMT). We first sounded the alarm in 2018 and warned readers again in 2021.
If we ignore the lost-in-theatrics truth that the debt ceiling is only a discussion insofar as Treasury is annually deluged with revenues, we can’t ignore the impact. Rampell and Yellen quite simply believe government spending is economy enhancing, but Lane surely knows better. His column is hopefully a reminder to those willing to look beyond the performing to the unsung truth that too much money in the hands of politicians is dangerous, and that the danger isn’t limited to these fifty states.
McCarthy Says Debt Ceiling Talks 'Not In A Good Place' As Yellen Warns 'Time Is Running Out'May 16, 2023 - 08:03:21 PDT
(Update 1022ET): McCarthy has reportedly stressed the need for unity among House Republicans, while members say they 'feel unified,' according to PBS's Lisa Desjardins, who adds that McCarthy told his party that "talks could get rough now," and that "it is clear there is no end game plan."
Households Far from “Tapped Out”: Credit Card Balances, Burden, Available Credit, Delinquencies & CollectionsMay 16, 2023 - 07:59:12 PDT
Credit cards are a huge payment method but not a big borrowing method.