Gold has all the potential to go unprecedentedly high. But silver will be gold on
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President Biden and Japanese Prime Minister Fumio Kishida will signal a more confrontational approach to China when they meet at the White House on Friday.
How do you trust a government that continuously sidesteps the Constitution and undermines our rights? You can’t.
The proximate cause of the world depression was a structurally flawed and poorly managed international gold standard. . . . For a variety of reasons, including among others a desire of the Federal Reserve to curb the US stock market boom, monetary policy in several major countries turned contractionary in the late 1920’s—a contraction that was transmitted worldwide by the gold standard.
While the average investor continues to BTFD, insiders see few bargains.
Jan 13, 2023 - 07:35:28 PST
State by State Demographics, Populations, Housing Units, Home Prices (Rhode Island through Wyoming)
The Current Surge in Home Prices Makes the Previous Bubble in 2008 Look Quaint by ComparisonJan 13, 2023 - 07:25:39 PST
Home Prices Will Likely Fall Further...
The Consumer Price Index for All Urban Consumers (CPI-U) fell 0.1 percent in December on a seasonally adjusted basis. Almost all of the decline is due to a 9.5 percent decline in the price of gasoline. This post puts a spotlight on food.
Once again, the most crucial aspect of the UMich sentiment survey is respondents' forecasts for inflation. After yesterday's 0.1% MoM decline in CPI, hope remains high that we are past peak inflation and this morning's UMich data seemingly confirms that as 1-year inflation expectations plunged to 4.0% (vs 4.3% exp), even though medium-term expectations rose modestly (to 3.0% from 2.9%). That is the lowest 1-year outlook since April 2021...
Jan 13, 2023 - 07:14:14 PST
Its that time again when Congress does its Kabuki Theater drama about raising the US debt limit. Of course, everyone in Congress and the Biden Administration want to spend trillions of dollars so they will hike the debt limit.
The Fed is making overtures in the direction of easier monetary policy, bringing the central bank more into line with the market.
While optimism toward China has been growing amid the economic reopening, the recent loan restructuring of a local government financing vehicle shined a light on this $7 trillion in “hidden” debt. While this group of borrowers has never defaulted, markets are starting to get worried, shunning some weaker borrowers.
Gold prices touch their highest level in nearly nine months Friday as a weakening U.S. dollar continued to drive a sharp rally in the yellow metal.
Jan 13, 2023 - 05:56:48 PST
The world is at risk of a crisis as governments, households and financial institutions binge on debt, a habit that S&P Global Ratings warns could push overall leverage to 366% of global gross domestic product by 2030.
The U.S. government's December budget deficit quadrupled from a year earlier to $85 billion as receipts shrank slightly and outlays grew to a new December record, the Treasury Department said on Thursday as it neared the $31.4 trillion federal debt limit.
One of the most lucrative money-making machines in the world of finance is all clogged up, threatening a year of pain for Wall Street banks and private-equity barons as a decade-long deal boom goes bust.
The Days of Giant Rate Hikes Are ‘Surely Past’: Fed Official. Won’t Be Cut Anytime Soon: Barron'sJan 13, 2023 - 05:49:48 PST
Remarks from Fed officials Thursday are expected to be the latest element in the central bank's effort to get its message across to the markets: It isn't reversing course on its inflation battle.
Wells Fargo Co. has been setting aside hefty sums lately to deal with legal and regulatory issues. It says that’s also a sign that more of its headaches are on the verge of ending. The perpetually scandal-prone bank [took a $3.3 billion charge in the fourth quarter...
(Reuters) -Wells Fargo & Co on Friday reported a 50% decline in profit for the fourth quarter as the bank racked up more than $3 billion in costs related to a fake accounts scandal and boosted loan loss reserves for a potential economic slowdown. Provision for credit losses was $957 million in the quarter, compared with a $452 million release a year earlier.
Goldman Sachs Group Inc. said a big chunk of its consumer lending business lost slightly more than $3 billion since 2020, revealing for the first time the costly toll of the Wall Street giant’s Main Street push. Ahead of fourth-quarter earnings, scheduled to publish next week, Goldman released financial information that reflects its new reporting structure.
The money-management firm’s assets under management increased to $8.6 trillion after three quarters of declines.