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    Why Biden’s Socialist State Will Fail
Feb 23, 2023 - 07:23:04 PST
So now it’s out in the open: Joe Biden is creating an out-and-out socialist state.  In his State-of-the-Union speech last week he bragged about interfering in gas prices, election reform, electric vehicles, bridges, computer chips, “20,000 infrastructure projects,” and Medicaid expansion, and vowed that he would go on to put the Federal government into every aspect of Americans’ lives...
    IMF: Gold, Silver, and Monetary Stability
Feb 23, 2023 - 06:07:53 PST
While today’s monetary system operates very differently from that of the 19th century, monetary stability remains a global public good, which requires international cooperation.
    Gold Steady as U.S. Rate Hike Fears Persist
Feb 23, 2023 - 06:03:38 PST
Gold remains in a consolidation phase, but a firm GDP figure today would allow the Fed to keep rates higher for longer, which would be dollar positive and by extension weigh on gold, said independent analyst Ross Norman.
The dollar index rose to its highest in nearly seven weeks on Thursday, a day after minutes from the Federal Reserve's last policy meeting that supported, but did not add to markets' view the central bank will raise rates further.
One month after the first Q4 GDP estimate surprised to the upside, coming in at 2.9% vs expectations of a 2.6% number, moments ago things gradually reverted to normalcy for a Biden admin that has seen its fair share of grossly manipulated economic data, when the BEA reported in its 2nd estimate of Q4 GDP that the economy actually grew almost as expected one month ago, revising the GDP print to a 2.7% (2.68% to be precise) increase from 2.9%.
Initial jobless claims continues to hover 'bullishly' around the 200k mark (last week was 192k), despite the ongoing news of mass layoffs (and severance), dropping to four-week lows...
Brace for a sharp economic slowdown, warns top investor Jeffrey Gundlach...
As American shoppers stomach soaring food prices, they are cutting back on purchases of other goods, such as toys, clothing and housewares, in a challenging trend for retailers.
“If inflation doesn’t start to come down, you risk this replay of the 1970s... Let’s be sharp now, let’s get inflation under control,” St. Louis Fed President James Bullard told CNBC Wednesday.
    Yellen on the Global Economy
Feb 23, 2023 - 05:46:03 PST
After falling the last few days, equities are seeing some lift following positive comments from Treasury Secretary Janet Yellen and better than expected quarterly results and guidance from Nvidia . Speaking at a G20 event, Yellen said the outlook for the global economy has improved since the group last gathered in the fall of 2022. This has us rather interested in the next few...
    Wells Fargo Lays off Hundreds of Mortgage Bankers
Feb 23, 2023 - 05:34:33 PST
The reported job cuts add on to a slew of layoffs seen across most big banks that are trying to streamline operations following a slowdown in dealmaking activity, weakening economic growth and rising interest rates.
    Signs Point To Not-So-Rosy Outlooks From Retailers
Feb 23, 2023 - 05:33:36 PST
This marks the fourth peak week for the Q4 earnings season. If you recall, the fourth quarter reporting season stretches longer than any other, typically with four or five peak weeks vs. the three peak weeks seen for Q1 – Q3. This week we start to get results from the retailers, but there is debate as to whether those reports will be as rosy as the reading we saw on Retail Sales last week.
    Sugar Coating Stagflation: How About No Landing?
Feb 23, 2023 - 05:32:27 PST
This chart is from our product called Big View. Coming into the FOMC, the sentiment for risk is neutral. A week ago sentiment was 100% bullish. A month ago, it was neutral leaning towards bearish. Amazingly, the sentiment and the persistent trading range in the S&P 500 are aligned. The S&P 500 failed the 23-month […]
Federal Reserve policymakers at their most recent gathering discussed concerns about the potential for prolonged partisan wrangling over raising the federal debt limit to disrupt the economy and financial markets.
Is the U.S. going bankrupt? Does China own us? The devil is in the details, write Paul J. Simko and Richard P. Smith.
The number of people who are behind on payments is rising at a rate not seen since the Great Recession.
    ECB Posts Loss as It Pays Price for Its Own Rate Hikes
Feb 23, 2023 - 05:24:34 PST
FRANKFURT (Reuters) -The European Central Bank made a loss last year as its own interest rate increases forced it to write down the value of some bonds and fork out billions of euros on balances created during a decade of money-printing, its annual accounts showed. While the 1.6 billion euro ($1.7 billion) loss was entirely covered by provisions, it raises questions about...
Underlying inflation in the euro area hit a record in January, revised data showed, likely cementing the European Central Bank’s plan to raise interest rates by another half-point next month.
    The Fed Alone Cannot Bring Inflation Down: FT
Feb 23, 2023 - 05:19:35 PST
Management of demand is not efficient in dealing with supply-driven price rises: fiscal policy must play its part.
As tensions with China rise, about 100 and 200 troops will be deployed to bolster a training program for the island’s military.