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GLOBAL OIL PRODUCTION ACCOUNTING HIDING THE BIG PROBLEM: Why Growing Oil Production Isn't What It SeemsJanuary 20, 2023
The Major Energy Agencies are using clever accounting methods to hide the big problems with Global Oil Production. In this update, I share what is happening behind the oil industry curtain of accounting secrecy. When you understand the details, the coming Energy Cliff makes more sense...
Though India is the second largest market for gold in the world, the sector faced regulatory changes and shifting consumer behaviour, WGC said.
On this week's Radio Rothbard, Ryan McMaken and Tho Bishop celebrate World Economic Forum week by discussing the Managerial Revolution.
As Washington gears up for yet another political showdown over raising the federal debt limit, congressional Republicans are clearly hellbent on letting the US government default on its obligations. Unfortunately, allowing the GOP to drive the US economy off a cliff may be President Joe Biden’s best option right now.
The emergence of money is a market phenomenon. By surrendering fewer marketable goods for more marketable goods, individuals move closer to the goods they ultimately wish to consume but cannot acquire through direct exchange. The most marketable goods become common media of exchange (i.e., money).
Johan Smit wrote an opinion piece in which he highlighted the double standards of treatment in situations where the private sector was treated more harshly than the state when both parties committed similar offenses.
Is it possible to buy anything with gold coins these days? Absolutely, positively, YES - with some strings attached - as you will learn from Mike Maloney in today’s gold and silver update
Whether it is Europe's inflation struggle, China's real estate crisis or global protectionism, Gita Gopinath is skeptical about the immediate future. In an interview, though, the deputy head of the IMF also sees small glimmers of hope.
Jamie Dimon Says Congress Shouldn’t Play Games With the Creditworthiness of the U.S. GovernmentJan 19, 2023 - 12:00:43 PST
The JPMorgan CEO said even questioning raising the debt limit "is the wrong thing to do. ... This is not something you should be playing games with at all."
Fed Governor Lael Brainard Sees High Rates Ahead Even With Progress on InflationJan 19, 2023 - 11:59:29 PST
Brainard insisted that the Fed won't waiver in its commitment to taming prices that have come down some, but remain near four-decade highs.
Jan 19, 2023 - 11:32:06 PST
On the dismal retail sales report on Wednesday, the yield curve steepened towards deeper inversions.
Jan 19, 2023 - 11:28:15 PST
The response from The Federal Reserve was a massive printing of money (green line). And after governments stopped their economic shutdowns (coupled with massive money printing), we saw jobless claims and unemployment shrink rapidly BEFORE Biden took office as President.
The US Consumer Has Cracked: Discover Plunges After "Shocking" Charge-Off ForecastJan 19, 2023 - 11:27:16 PST
First, the total amount of credit card debt hit a new all time high, which however was to be expected from one of the most consistently increasing series across all US economic data, and one which predictably is correlated to the US savings rate which is at all time lows.
The world’s central banks bought 673 metric tons in one month, and in the third quarter, the figure reached 400 metric tons. This is interesting because the flow from central banks since 2020 had been eminently net sales.
"The 'chilling effect' of government censorship by corporate proxy has Americans on an icy slope that bottoms out in the sort of political slavery feared by the Founders and Framers." ~ Robert E. Wright
Social Security, Medicare, and Medicaid are still the chief drivers of our future debt. But Republicans aren't touching them.
US Treasury Hits Debt Ceiling, Begins Using "Extraordinary Measures", Yellen Tells CongressJan 19, 2023 - 08:11:22 PST
One week ago we correct predicted that the Treasury would hit its debt ceiling today, and as expected, in a letter to House speaker Kevin McCarthy, Yellen today wrote that "beginning on January 19, the outstanding debt of the United States was projected to reach the statutory limit" and that the "Treasury began using extraordinary measures" today. Some more details from the letter:
Jan 19, 2023 - 07:48:24 PST
The U.S. will hit its debt ceiling this week. What can be done?
The dollar touched a seven-month low on Wednesday, reversing a trend that dominated much of 2022 as lower expectations of sharp Federal Reserve rate rises eased pressure on global markets.
January is time to look ahead for the year. Sadly, way too much depends on the Federal Reserve, and world central banks.