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Worker burnout-- are you burned out? Well, levels have reached a new high according to one recent survey. The Future Forum polling more than 10,000 workers around the world, and 42% of them say they're feeling mentally and physically exhausted due to stress at work.
Oil fell almost 3% on Friday and was on course for a weekly decline, pressured by concerns of more U.S. Federal Reserve interest rate hikes that could weigh on demand, and signs of ample supply. Brent crude futures were down $2.37, or 2.8%, to $82.77 a barrel by 1145 GMT, while West Texas Intermediate (WTI) U.S. crude fell $2.07, or 2.6%, to $76.42. Various signs of ample supply also weighed on the market.
Stock markets dropped across the globe on Friday and the dollar leapt to six-week highs as jobs data revived expectations the U.S. central bank would stick to its monetary tightening path.
Garbage in, garbage out. The phrase is usually associated with computers, but it also applies to the formulas used to generate government economic data. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey goes over the January CPI and retail sales data with that phrase in mind.
BARRICK HIGHEST COST EVER AS PRODUCTION HITS 22 YEAR LOW: Gold Miners Suffering From Falling EROI Even Though Energy Cliff ...February 17, 2023
Barrick gold is now mining some of the most expensive gold ever, and they aren't the only ones. More gold miners are reporting even higher costs. The cost at the world's second-largest gold mining company hit a new all-time high this year while its production hit a 22-year low...
Hoard of 600 Medieval Gold and Silver Coins Found by Detectorists Is Declared TreasureFeb 16, 2023 - 12:50:02 PST
Seven men found the coins on the Culden Faw Estate, Buckinghamshire in April 2019 including 12 rare gold nobles from the reign of Edward III.
Gordon stated that the US Federal Reserve is going to pause after its next interest rate increase. Then the U.S. central bank will stop and have a look at the impact of the hikes on U.S. consumers. nflation numbers for the U.S. came broadly in-line with expectations, and will continue to come off through this year, he added.
"I'm Afraid For The Worst" - Charles Nenner Warns "The War Is Going To Pick Up... And Gold's Going To $30k"Feb 16, 2023 - 12:40:24 PST
Renowned geopolitical and financial cycle expert Charles Nenner said back in late November, interest rates were on the way down but “for the very short term.” Nenner also predicted that inflation might come down to around 6.5%. The latest CPI number clocked in this week at 6.4%. Nenner was right on both counts.
Bullion proved to be one of the most resilient assets to own last year: it exited 2022 virtually unchanged even as the Fed raised rates by a phenomenal 425 basis points, sending real yields soaring as a consequence.
"The media’s incentive is to tell us the portion of the truth that is entertaining. And what we have demonstrated by our behavior is that bad news entertains us." ~ Antony Davies
New Gallup Poll Shows Half of Americans Believe News Organizations Deceive the PublicFeb 16, 2023 - 12:05:15 PST
According to the poll, half of Americans believe the mass media intends to misinform with its reporting. The Gallup/Knight survey found that only 26% of Americans hold a favorable view of the news media, the lowest figure recorded in the survey's five-year history. 53% have an expressly unfavorable view.
Consumer Debt Soars By $394BN, Most In 20 Years, To Record $16.9 Trillion As Young Borrowers Struggle To RepayFeb 16, 2023 - 12:00:39 PST
While it won't tell us anything we don't know - since it is two months delayed and we already get monthly updates from the Fed via the G.19 statement - this morning the NY Fed published its quarterly Household Debt and Credit report, which showed that total household debt in the fourth quarter of 2022 rose by 2.4% or $394 billion, the largest nominal quarterly increase in twenty years, to a record $16.90 trillion. Balances now stand $2.75 trillion higher than at the end of 2019, before the pandemic recession.
In a speech distributed ahead of the Munich Security Conference, Soros backed the idea of using experimental geosolar technologies to shield the Arctic from melting, as well as an overhaul of international finance to address the challenge ahead.
Debt is vital to the functioning of the world economy. But, after soaring in the aftermath of the 2008 global financial crisis and the COVID-19 pandemic of recent years, it has reached unprecedented levels: as of last June, total debt amounted to $300 trillion, or 349% of world GDP. With negative supply shocks persisting, and the world’s major central banks scrambling to rein in inflation, debt risks are becoming increasingly alarming.
The world's two largest foreign holders of US treasuries, Japan and China, continued to pare down their holdings of US debt in December, data from the US Treasury Department showed on Wednesday.
Feb 16, 2023 - 08:29:35 PST
Here is the sickening forecast of Federal budget deficits. Budget deficits are forecast to keep rising and are project to hit -$20 TRILLION over the next 10 years.
DHS Warns Millions Of iPhone Users To Change Settings Over "Zero-Day Spyware"Feb 16, 2023 - 08:27:05 PST
An agency within the Department of Homeland Security has warned owners of Apple products of a security vulnerability which affects iPhones, iPads and MacOS devices.
The Kremlin’s top diplomat has warned that Western involvement in Ukraine is nearing "the point of no return," accusing the United States and the NATO bloc of attempting to transform the country into a "Russophobic military stronghold." Meanwhile, Moscow’s UN envoy declared that all of Russia’s "red lines" have already been crossed.
Consider all of this, then, a signature of America in our time. Under the guise of turning the century around, we underwrite violence in faraway lands and thereby dodge the actual challenges of changing our own culture. Unfortunately, when it comes to rehabilitating our own democracy, all the Abrams tanks in the world won’t save us.
Elon Musk Insists He’s Restricting Ukraine’s Access to Starlink Because Zelensky Could Start WWI IIIFeb 16, 2023 - 07:31:39 PST
The billionaire says he won’t allow Ukraine to launch long-range drones using SpaceX to hit targets in Russia.