Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Falling dollar and Treasury yields will encourage investors to buy the bullion, says the Wall Street bank.
James Rickards, the Editor of Strategic Intelligence financial newsletter, discusses how Covid, the Ukraine war and other current events could impact future investments.
It may be the most predictable recession in history. Economists expect the US economy to contract since at least April, shortly after the Federal Reserve began raising interest rates. But a bit like Judo, she has yet to appear. Trust the cash cushion to American consumers and businesses built during the pandemic. But that will eventually go away, and then the economy will collapse.
Goldman Sachs predicts deflation is on the horizon for 2023. To gauge whether this prediction will come true, turn to the labor market.
According to inflation statistics, 2022 has been a painful year for financial markets following a worldwide increase in inflation that began in mid-2021, just after the COVID-19 pandemic started fizzling out. Just as captured in our definition of inflation, the increased inflation across the world has resulted in the decline in purchasing power of most currencies including the US dollar.
"Big-government policies must end before they send us further down the road to serfdom. Our newly elected officials have a responsibility to prioritize fighting inflation, and restoring the American Dream." ~ Vance Ginn
While there has been little wider fallout from this week's surge in redemption requests at an unlisted Blackstone real estate income trust (REIT), it is being read by some as a warning sign.
The discrepancy between jobs and employment continues for the eighth month.
Lost in the unemployment and jobs headline noise are huge divergences between jobs and employment dating back to March.
There’s an idea rooted among some libertarians that the Federal Reserve was originally a sound institution but has grown corrupt. As a bankers’ bank, it was fine, they believe, but not as the monster it has grown to be. If we could only go back to the Fed’s founding charter, all would be well.
Fed’s Balance Sheet Drops by $381 Billion from Peak: December Update on QTDec 2, 2022 - 10:18:59 PST
Keeping an eye on stuff, including dollar liquidity swaps and Primary Credit.
Something Is Rigged: Unexplained, Record 2.7 Million Jobs Gap Emerges In Broken Payrolls ReportDec 2, 2022 - 10:17:09 PST
A superficial take of today's jobs report would note that both jobs and earnings "blew past expectations, flying in the face of Fed rate hikes", and while that is accurate at the headline level, it couldn't be further from the truth if one actually digs a little deeper in today's jobs numbers.
As president of the Federal Reserve Bank of New York and vice chair of the policy-setting Federal Open Market Committee, John Williams is perhaps the second-most influential US central banker behind Fed Chair Jerome Powell. There’s no doubt he is well-rooted in economic fundamentals. And yet, he expects the economy to perform nothing short of a miracle.
Wednesday’s ruling by a three-judge panel of the New Orleans-based court is the latest blow to a plan that has been shadowed by legal doubt since Biden announced it in August. The decision left in force a ruling from a federal judge in Texas declaring the program unlawful.
The global money supply, excluding the US, has swung from one of its fastest rates of growth last Spring to its fastest rate of contraction since at least 2004, as the following chart from Bianco Research highlights.
Investors have withdrawn $316 billion from credit funds this year, unwinding all of the previous year's inflows, BofA Global Research said in a note on Friday.
The European Central Bank is all but certain to start offloading some of its 5 trillion euro ($5.3 trillion) bond stash next year as it ramps up efforts to bring down record-high inflation in the euro zone.
Dow Futures Drop 400 Points As Investors Digest Stronger-Than-Expected Jobs DataDec 2, 2022 - 05:45:32 PST
Investors are looking ahead to the November jobs report for insight on how the Federal Reserve may proceed with its interest rate hikes.
November Payrolls Unexpectedly Smash Expectations As Hourly Earnings JumpDec 2, 2022 - 05:44:23 PST
It was supposed to be the lowest payrolls report since December 2020 and... it was, but not how the market expected. With consensus expecting a 200K print (and whisper predicting much lower amid the mass tech layoffs), virtually nobody - not even Goldman - expected a beat. And while we did in fact get the weakest print since Dec 2020...
2022 has been a rough year for the crypto industry. The price of bitcoin has dropped 65% since the start of the year, the cryptocurrency Luna suffered a total collapse in value, and crypto exchange FTX went from buying Super Bowl ads to crash landing into bankruptcy.
World Bank Group President David Malpass said that he’s concerned about the absence of an effective global system to deal with debt defaults in low-income countries and that he is also worried about growing debt in richer ones.