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Feb 6, 2023 - 12:44:19 PST
A large bipartisan contingent of Wisconsin legislators seek to end Wisconsin’s controversial practice of levying sales tax on purchases of gold and silver.
Feb 6, 2023 - 12:43:34 PST
Turkey was the biggest buyer of gold among central banks last year, with households also rushing to buy the commodity to shield from geopolitical uncertainty and rampant inflation.
The Fed’s Portfolio Is Nonexistent: The Fed Does Not Invest. It Destroys InvestmentsFeb 6, 2023 - 12:13:29 PST
When I first took academic courses in macroeconomics and money and banking, we covered the actions of the Federal Reserve System. One of the things we constantly were told about the government’s “monetary policy” was that when the Fed wanted to increase or decrease the monetary base, it would involve its “portfolio.”
It's Never Too Late to Begin Protesting against the Proposed Central Bank Digital CurrencyFeb 6, 2023 - 12:12:36 PST
Whether you like it or not, central bank digital currencies (CBDCs) are coming. That’s the message in a recent tech column in the Wall Street Journal. A similar tone can be found coming from organizations like the World Economic Forum, the International Monetary Fund, and the Atlantic Council.
"Given uncertainties surrounding the unusual stimulus and the lagged effects of monetary policy, it would be prudent to hold the Federal Funds rate constant for a few months and see how the economy responds to recent policy." ~ Gerald P. Dwyer
"We enter the Age of Decline and find ourselves victims of our own success. History tells us that impoverished societies die by war and famine. Now we are learning that prosperous societies die by attrition." ~ Antony Davies
Janet Yellen: ‘You Don’t Have a Recession’ With Unemployment at 50-Year LowFeb 6, 2023 - 11:56:54 PST
Treasury Secretary Janet Yellen on Monday said she sees a path in which the U.S. economy avoids a recession, citing a slow-but-steady decline in inflation, strong job growth and a historically low unemployment rate.
Economist Who Called 2008 Housing Crash Predicts Another 15% Drop in Home PricesFeb 6, 2023 - 11:55:20 PST
Home prices have a way to go before they hit bottom, economist argues...
Feb 6, 2023 - 11:47:10 PST
Note that interest on the national debt either stabilizes or drops during recession. This happens because the Fed slashes interest rates and holds them too low, too long, creating the next bubble that it eventually must react to.
As predicted, the EU strikes back against Biden's illegal under WTO rules Inflation Reduction Act.
Feb 6, 2023 - 11:44:28 PST
Since the pre-Covid pandemic New York State has lost 267,000 jobs. Illinois, Pennsylvania, Michigan, and Ohio are also job losers. Big gainers, in order, include Texas, Florida, North Carolina, and Georgia.
There are many excuses often used to explain inflation. However, the fact is that there is no such thing as “cost push inflation” or “commodity inflation.” Inflation is not an increase in prices, it is the destruction of the purchasing power of the currency.
2022 was a rough year for investors: Between inflation, falling stock prices, and the crypto crash, it was hard to find a safe haven. All of that economic turmoil had a lot of investors looking at one of the most ancient places to store wealth: gold.
And Now Food Deflation? US Food Giant Tyson Tumbles On Falling Beef, Chicken Prices, Sliding Pork DemandFeb 6, 2023 - 08:52:50 PST
The largest US meat company, Tyson Foods, badly missed Wall Street estimates for quarterly profit on Monday and cut its expectations for operating margins this year in the face of falling - yes falling - beef prices, easing demand for pork, and an ongoing crash in chicken prices as a result of overproduction.
Feb 6, 2023 - 08:10:40 PST
The war in Ukraine is not just about Ukraine and Russia with the U.S. and NATO acting as seemingly benevolent supporters of Ukraine, as the Western media portray.
Feb 6, 2023 - 07:51:53 PST
The U.S. dollar has been the predominant global reserve currency since the design of the Bretton Woods system after the second world war. Even the move from fixed exchange rates in the early 1970s did not challenge the greenback's "exorbitant privilege."
The price of gold stopped just short of hitting $1,960 an ounce on Thursday, its highest level since April 2022, before plunging below $1,900 on Friday following a stronger-than-expected U.S. jobs report, indicating that the current rate hike cycle may be far from over.
Cut the Price by 20% and They Will Come: Homebuilder Meritage Explains New Era after Sales Orders Collapse by 46%Feb 6, 2023 - 07:42:06 PST
Cutting construction costs by “aggressively rebidding” projects, and “walking away” from land deals: executives in their own words.
If you have been net long for this rally, congrats! But think about where things are headed as the Fed Commits to More Rate Hikes.
Feb 6, 2023 - 07:37:06 PST
Last week’s strange jobs report (massive discrepancy between the Establishment and Household data) did push expectations of further Fed rate hikes up. In fact, the US Treasury 10-year yield is up 10 basis points this morning.c