Gold has all the potential to go unprecedentedly high. But silver will be gold on
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It should be obvious that billionaires don’t accumulate wealth by accident. Their success is predicated on observation and savvy investment, and a privileged background helps. Billionaires like Microsoft Corp. co-founder Bill Gates likely saw an opportunity for land investment to return tenfold, by way of food shortages, well ahead of time.
Bank of America Corp. is still a believer in the Fed pivot, even as monetary officials signal their resolve to keep policy tight next year to crush still-elevated inflation.
Bank of America analysts said this week the S&P 500 could plunge as much as 24% next year as a result of the Federal Reserve's quantitative tightening.
Credit Suisse shares and bonds took another hit on Wednesday in a sign the embattled Swiss bank is struggling to regain investor confidence ahead of a planned $2.4 billion fundraising to help pay for a major overhaul. Credit Suisse rights for its 2.24 billion Swiss francs ($2.4 billion) share issue were down 3%, having reversed initial gains.
Banks Are Short More Than $1 Trillion in Capital: Fears the Shortfall Will Only Get WorseNov 30, 2022 - 05:26:49 PST
If bank assets are marked to market, the U.S. sector is insolvent, according to an independent analyst.
Reelin’ In the Year: Powell’s Pivot, Fed Unity, and the War on InflationNov 30, 2022 - 05:23:51 PST
The Federal Reserve started 2022 expecting a surge in inflation to subside as the pandemic-scarred economy got back to normal, and divided over how much the U.S. central bank might need to help the process with higher interest rates. By March, a European land war had upended the inflation and economic forecasts; by the summer...
U.S. stock futures looked Wednesday to rebound from a sluggish start to the week as investors await comments from Federal Reserve Chair Jerome Powell’s scheduled speech.
For 15 years, policymakers have tried to stimulate the global economy through money creation, zero-interest-rate policies, and more recently, aggressive post-COVID spending.
Federal Reserve Chairman Jerome Powell all but confirmed a soft pivot by the central bank in its inflation fight on Wednesday, while trying to maintain a hawkish demeanor.The markets appear to be buying the pivot, but they are ignoring Powell's "tough guy" spin.
While the data this month looks weak, I think there is more to the story. My hypothesis is speculative in nature, so I will save it for the end after going through the data.
In another bad sign for a housing bubble that is quickly deflating, investor purchases of single-family homes tanked in the third quarter.Meanwhile, overall home sales continue to tumble and prices are falling.
The powers that be keep telling you that the economy is fine and inflation has likely peaked. But you're not buying the story.Consumer confidence fell for the second straight month in November as worries about inflation and the trajectory of the economy persist.
Demand for gold has risen by 28% this year, primarily driven by a flight towards safer assets amid soaring inflation, according to the World Gold Council.
Nov 29, 2022 - 12:40:59 PST
Of course the BIS is the central bank of the central banks and the broker that long has provided camouflage for central bank interventions in the gold market.
I would like to attempt to describe our economic model since we abandoned sound money and any constraints upon our ability to print IOUs (or what most refer to as dollars without any understanding of what that really means). Before, there was mandated fungibility between dollars and gold and at a…
Nov 29, 2022 - 12:03:36 PST
I use monthly averages because the Fed now targets a range. Also the Fed Funds Target Rate is discontinued and only dates to 1982. This is the steepest, most aggressive hiking cycle ever.
In recent decades, proposals for a universal basic income (UBI) have aroused a good deal of attention, but supporters of the free market have for the most part been averse to the idea.
Money-Supply Growth in October Fell to a 39-Month Low. A Recession Is Now Almost GuaranteedNov 29, 2022 - 11:56:13 PST
Money supply growth fell again in October, dropping to a 39-month low. October's drop continues a steep downward trend from the unprecedented highs experienced during the thirteen months between April 2020 and April 2021.
Nov 29, 2022 - 10:08:43 PST
The yield on 2-year Treasury debt was 0.76 percentage point higher than on 10-year debt, the biggest gap since the Fed's battle against inflation in the early 1980s.
As tech companies deal with lower stock prices, inflation, rising interest rates and a possible recession, they've announced tens of thousands of job cuts.