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Car Debt Is Piling Up as More Americans Owe Thousands More Than Vehicles Are WorthMar 1, 2023 - 05:21:55 PST
The build-up in negative equity — or the amount that debt exceeds a vehicle’s value — is rattling consumers and raising alarms within the industry. Though it’s not unusual for drivers to carry negative equity, some dealers say more people are arriving at their lots up to $10,000 underwater, or “upside down,” on their trade-ins.
Oil dipped after hot inflation data led traders to anticipate that central bankers are likely to stay hawkish for the coming months, offsetting hopes for higher demand from Asia.
U.S. companies with the highest credit ratings sold a record $144 billion of debt securities so far in February to get ahead of further potential interest rate hikes, meeting strong demand from investors looking to capitalize on a spike in yields.
US equity rebounded from Tuesday's month-end pension and CTA selling boosted by overnight news that China’s economy was roaring back sparked growth optimism and outweighed concerns about sticky inflation that could keep the Fed on its hawkish path. S&P 500 futures rose 0.3% at 7:40 a.m. ET
While price inflation has eased modestly from its peak, Americans are still dealing with rapidly increasing prices, and that is squeezing their pocketbooks. And of course, the pain falls disproportionately on the working poor and people living on fixed incomes.As Ron Paul explains, rising prices and a more aggressive IRS mean servers in the restaurant industry are getting hit with a double whammy.
The Federal Reserve is bleeding money and losses are mounting.So, what does this mean? Is the central bank in danger of going under?Hardly.In fact, losing money isn't a problem for the Fed at all. But it is a big problem for the US government.
The seasonally adjusted money supply in January increased by $31 billion. This was the first increase in the money supply in five months.
This month, the conclusion is going at the top because it can be hard to read through and interpret all the data.In a nutshell, the data is sending mixed signals. Delivery volume is slowly drifting lower, but some of the underlying data is starting to show large deviations from the mean. In particular, silver saw a lot of contracts wait until the last minute to roll, similar to what we saw with gold last month.Why?
Silver demand in India is expected to increase with the introduction of new investment products. India already ranks as one of the world's biggest silver consumers.This is one of several silver-related stories in the latest edition of Silver News published by the Silver Institute.
Joe Biden might be confident in the US economy. Federal Reserve Chairman Jerome Powell might be confident about the US economy. But the average American? Not so much.The Conference Board Consumer Confidence Index fell for the second straight month in February, dropping from a downwardly revised 106.0 in January to 102.9.
What's happening at the world's largest shale oil field... the Texas Permian? Even though the top companies in the Texas Permian are continuing to drill and complete a large number of new wells, oil production has seemingly peaked and is now declining. Has the Boom and now Bust, begun...
Feb 28, 2023 - 13:09:35 PST
The trend line growth is not surprising, but the growth projected by the study’s authors is dramatic. The Silver Institute’s World Silver Survey 2022 reported that silver offtake for photovoltaics reached a record 113.7 million ounces in 2021, compared to only 50.5 million ounces in 2013, with 2022 estimates of 127 million ounces.
2022 was a milestone year for the gold market, in that we witnessed the largest volume of central bank gold buying ever recorded. As inflation grew and international sanctions were applied, central banks began building larger gold reserves. Of the 1136MT purchased by central banks last year, 800Mt were bought in the second half alone*. To put this into perspective, when central banks previously purchased gold, the average would normally be between 400-600MT
Gold buying has increased since the holiday, as in-store sales picked up after China relaxed its Covid-19 controls late last year. The wave of Covid-19 cases in the fourth quarter of 2022 led to a drop in footfall -- people prefer to buy gold in physical stores -- and a subsequent decline in sales.
Gold futures on the COMEX division of the New York Mercantile Exchange rose on Tuesday on high inflation in major European countries.
President Biden is preparing to run for re-election with a relentless, aggressive focus on the economy — convinced the data cuts in his favor, even as vast swathes of the public remain skeptical that conditions have improved.
Speaking at the Kempsville Recreation Center, Biden will point to GOP proposals to repeal the Affordable Care Act and cut funding to Medicaid.
U.S. Treasury yields rose Tuesday, adding to their sharp February gains, as traders weigh the prospects of higher tighter monetary policy for longer.
Apart from the dangerous and bullying nature of such tactics, and its negative effects on US-China relations and American soft power, such apparent power to redistribute and rearrange reality at will by government fiat produces less than impressive results in reality.
"The problem is not so much our reliance on economics as our reliance on politics. Politics insists that we must pretend to believe in the fiction of central direction of markets as effective policy." ~ Michael C. Munger