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Mortgage Demand Plunges 13.2% To End 2022, as Interest Rates Head Higher AgainJan 4, 2023 - 05:34:48 PST
US mortgage rates climbed to a six-week high as 2022 drew to a close, resulting in a sharp decline in home-purchase applications.
Full-year U.S. auto sales are forecast to be about 13.9 million units, down 8% from 2021 and 20% from the peak in 2016, according to industry consultant Cox Automotive. Tight supplies kept car and truck prices elevated, even as auto inventory improved in the second half of the year.
Longer-dated U.S. Treasury yields fell on Tuesday, with the 10-year yield retreating after two straight weeks of gains to close out 2022 with its biggest annual gain in decades over concerns about the path of the Federal Reserve's tightening policy. The 10-year yield rose about 238 basis points in 2022, its biggest yearly climb since at least 1953, according to Refinitiv data...
European bonds led a global debt rally, extending a strong start to 2023 amid signs that inflation is starting to slow.
A bill introduced in the Missouri Senate for the 2023 legislative session would take important steps toward treating gold and silver as money instead of as commodities and would set the stage for currency competition in the Show-Me State.
Jerome Powell still insists the Federal Reserve can beat inflation while bringing the economy to a "soft landing." But there are underlying issues in the economy that make it extraordinarily doubtful that the economy can avoid a major downturn - despite Powell's claims to the contrary.One of the biggest problems facing the Fed is the amount of debt in the global economy.
Silver & Gold in 2022: Amidst the Tumult, Silver Ends Higher & Gold Remains BuoyantJan 3, 2023 - 13:38:16 PST
War! Inflation! Rate hikes! Crashing cryptos! Sinking stock markets! A soaring U.S. dollar and hints of recession all highlighted a tumultuous 2022.
Jan 3, 2023 - 12:51:10 PST
Silver yesterday settled up by 0.23% at 69571 supported by increased demand for precious metals amid recession concerns and looming supply shortages.
According to the report, “more than two-thirds” of the 23 financial institutions surveyed “expect the U.S. economy to contract in 2023.”
Could we see the prices of real estate, travel and automobiles plunge by 90% or more? The answer is a resounding YES - when priced in silver.
The United States and most of the rest of the world are, once again, in the midst of an inflationary crisis. Prices in general are rising at annualized rates not experienced by, especially, the industrialized countries of North America and Europe for well over 40 years. More than 50 percent…
"FOMC member projections suggest that inflation will come down only gradually over the next two to three years and that the price level will remain permanently elevated." ~ William J. Luther
Status of US Dollar as Global Reserve Currency: USD Exchange Rates Hit Foreign Exchange ReservesJan 3, 2023 - 11:48:29 PST
Complicated times for the dollar. The Chinese Renminbi, a distant also-ran, loses ground.
Jan 3, 2023 - 11:44:58 PST
The J.P.Morgan Global Manufacturing PMI™ – a composite index produced by J.P.Morgan and S&P Global in association with ISM and IFPSM – fell to a 30-month low of 48.6 in December and remained below the neutral mark of 50.0 for the fourth straight month. Excluding the lows registered during the early months of the global pandemic, the current PMI reading is the lowest since the first half of 2009.
Gotta love this stat: 106 million people age 16 and over are not employed but only 6 million of them are unemployed.
A Prudential Pulse survey finds large percentages of millennials, gen Z and women struggle with finances. The result is more gig work.
The willingness to do what it takes to get ahead has plunged, especially in generation Z, the zoomers.
Central Bankers Are Poor Archers: The Problems & Failures of Inflation Targeting & Price StabilityJan 3, 2023 - 11:15:12 PST
The famous quote, “Insanity is doing the same thing over and over again and expecting different results,” is usually attributed to Albert Einstein. While intended as a parable for quantum insanity, such a quote could equally be a parable for inflation policy.
Money supply growth fell again in November, and this time it turned negative for the first time in 28 years. November's drop continues a steep downward trend from the unprecedented highs experienced during much of the past two years.