Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Dallas Fed Survey Unexpectedly Drops: Respondents Warn "Biden Political Mentality" Means "Recession Being Planned For And Ac...Dec 27, 2022 - 11:28:02 PST
Interestingly the outlook for six-months ahead improved (but remains negative), but you wouldn't know it judging by the responses that The Dallas Fed decided to release for publication... notice a pattern?
By ITM TRADING a Sponsor of Wolf Street: The yield curve is a graphical representation of the yields, or interest rates, of bonds with different maturities. Typically, the yield curve slopes upward…
The Crazy Stuff & Asset Prices that arose during Easy Money are coming unglued as Easy Money ended.
My Thoughts on Vehicle Repos, How Far the Fed May Go, our Housing Bust in San Francisco, and Crypto Bust v. Dotcom BustDec 27, 2022 - 09:18:00 PST
Wolf Richter on “This Week in Money.”
Join Mike Maloney for a look at some alarming economic indicators that suggest we are headed for an event of historic proportions.
2008 All Over Again? BOFA Is Offering Zero-Down-Payment, Zero-Closing Cost MortgagesDec 27, 2022 - 07:27:33 PST
Crucially, the program also requires no minimum credit score, with eligibility focused instead on a borrower’s solid track record of rent payments and regular monthly bills like utilities and phone. Before applying, buyers must finish a homebuyer certification course that counsels them on ownership responsibilities and other considerations.
Morgan Stanley Warns Housing Affordability Is Deteriorating Faster Than at Any Point in HistoryDec 27, 2022 - 07:25:21 PST
The problem is that home prices are still rising while interest rates on mortgages are surging higher, which is highly unusual. Higher mortgage rates usually push home prices down by cooling demand. Here’s why the dynamics of the housing market have become so bizarre and what potential homebuyers can do to escape the crisis.
Diop didn’t know it, but he was playing a small role in something almost unfathomably lucrative: The first trillion-dollar decade for the six giants of US banking. That’s not $1 trillion of total revenue, it’s pure profit.
Dec 27, 2022 - 07:02:53 PST
As the global economy slows and global central banks continue to tighten, we are seeing gasoline and diesel prices falling. But bear in mind that US gasoline prices remain 30% higher since Biden wa…
In my example above, the Zillow model would say the market is rising despite the fact that 10 out of 11 homes fell in price. My estimate says the average home price decline in the example was 7.7 percent (10*10-15)/11 * 100.
US Home Prices, based on S&P Global's Case-Shiller data, fell 0.52% MoM in October (the latest data available released this morning), slightly better than the 1.1% drop expected. This slowed the YoY growth 8.64% from 10.4% YoY...
Let it snow! Or is it a blizzard? Redfin released a terrible housing report showing that home sales fell a gut-wrenching 35% in November, the largest on record since Redfin has been collecting data…
David Morgan expects more upside potential for silver in the New Year: $2,200-$2,400 gold and $30-$33 silver. Silver tends to outperform 3:1 in bull markets...
Speculative interest in gold and silver may not catch fire until there is more clarity about when the Fed will pause or perhaps reverse course on rate hikes.
Gold is performing in line with risk assets, and “further signs that king dollar is loosening its grip on the safe-haven throne is also encouraging bullion bulls to restore spot prices back above the psychological $1,800 mark,” said Han Tan, chief market analyst at Exinity.
The Bitcoin network hashrate has dropped by more than 38.8% from its peak on Wednesday, as many U.S.-based miners have been forced to switch down their facilities due to deadly blizzards. See related article: British Columbia suspends new electricity connections for crypto miners...
Those hoping for a Christmastime government shutdown were once again disappointed when Congress passed a 4,000-page, $1.7 trillion omnibus...
There can be only one excuse for such signal failure to serve the prosperity of your citizenry: the chimera of equality. This, in fact, is the clarion call of the Left: that human beings sacrifice well-being and prosperity on behalf of the cult of equal distribution of resources. Klaus Schwab, head of the World Economic Forum, says as much in his book, "The Great Narrative": we should dispense with economic measures like gross domestic product (GDP)...
Fed Fight: Biden's BLS Lashes Out At Philly Fed Over Million-Job RevisionDec 27, 2022 - 05:41:27 PST
Nearly two weeks ago the Philadelphia Federal Reserve wrote that the Biden administration had overstated US job growth by at least 1.1 million - directly implying that the Bureau of Labor Statistics (BLS) had fabricated US payroll data to provide political talking points.
China to Scrap Quarantine for Inbound Travelers in Major Step Toward ReopeningDec 27, 2022 - 05:40:20 PST
China will drop quarantine requirements for international arrivals from January 8, in a major step toward reopening its borders that have shut the country from the rest of the world for nearly three years.