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The U.S. Government is facing a massive debt funding crisis... much sooner than the market realizes. While the U.S. Treasury forecasts major problems with the public debt in the following decades, I would be shocked if we make it until 2025 without a massive financial crisis...
A new analysis of rare Roman coins says the man whose likeness appears on one of them was a real historical figure who ruled as a Roman emperor almost 2,000 years ago.
The Silver Institute and Metals Focus published new figures showing supply and demand in the global Silver market a week ago. Accordingly, strategists
Long-term investors and the official sector are gradually building gold allocations. Central banks have been net buyers of gold for more than a decade now, amid a broader trend of diversifying dollar-denominated reserves. This year, the Russia-Ukraine war and corresponding sanctions reinforced this theme. Net official sector buying to 3Q22 is already higher than previous full-year highs.
Nov 28, 2022 - 12:41:28 PST
Now, the world is facing a very different problem. High energy prices are again feeding over to food prices and to inflation in general. But the underlying trend in energy consumption is very different. The growth rate in world energy consumption per capita was 2.3% per year in the 2001 to 2005 period, but energy consumption per capita for the period 2017 to 2021 seems to be slightly shrinking at minus 0.4% per year. The world seems to already be on the edge of recession.
Last Friday the Wall Street gamblers made another run at “bad news is good news”, taking the averages up modestly after a frenetic chase around the barn and back. But at the end of the day, it’s high time to forget about the games played by Wall Street day-traders and…
The federal government seized from the American people almost $5 trillion ($4.896119 trillion) in fiscal year 2022 (Oct. 1, 2021 through Sept. 30, 2022), according to The Monthly Treasury Statement of Receipts and Outlays of the United States Government (MTS), published by the Bureau of the Fiscal Service. But this was still…
High-level European officials are furious with the Biden administration and are now accusing the US of profiting from the war in Ukraine while Europe is facing a potential energy crisis. In comments to POLITICO, a senior EU official said, “The fact is, if you look at it soberly, the country that is most profiting from … Continue reading "Furious With Biden, Europe Says US Is Profiting Off Ukraine War"
With inflation surging and debt approaching record levels, policymakers should avoid worsening the deficit and should at least pledge to add no new debt for the rest of 2022. Yet, policymakers are currently considering an end-of-the-year fiscal package that would make things much worse.
Nov 28, 2022 - 12:26:56 PST
The nation’s fiscal and economic outlook has deteriorated substantially since the last Congressional Budget Office (CBO) baseline in May, when CBO projected debt would reach a record 110 percent of Gross Domestic Product (GDP) by 2032.
"There’s always a trade-off to overspending and unbalanced budgets. The sooner local governments realize that and reel in their spending, which is the ultimate burden of government, the sooner financial crises will be averted."
The Reichsbank: Germany's Central Bank Lays Foundation of Monetary DisasterNov 28, 2022 - 11:49:22 PST
On January 18, 1871, the German Empire was established after a seven-year conflict to unite the German confederacies. Prussia, a northern German state on the Baltic Sea would be the nation to unite Germany under a central ruler, Kaiser Wilhelm I.
Nov 28, 2022 - 11:44:16 PST
On November 17, Sheila Bair, the former Chair of the Federal Deposit Insurance Corporation (FDIC) during the financial crisis of 2008, went on CNBC to lament the lack of controls leading to the collapse of the crypto currency exchange, FTX. During the interview, Bair used the phrase “nobody looking behind the curtain.”
Weak investment, low productivity and inadequate education have doomed Latin America to a period of economic failure worse than the “lost decade” of the 1980s, according to the region’s top UN economic official.
Federal Reserve Bank of St. Louis President James Bullard said financial markets are underestimating the chances that policymakers will need to be more aggressive next year in raising interest rates to curb inflation.
NY Fed President John Williams said Monday the Fed has made some progress on inflation coming down, but said there is still "more work to do" in bringing price pressures under control.
BlockFi Files for Bankruptcy As FTX Fallout Ripples Through Crypto IndustryNov 28, 2022 - 11:28:52 PST
BlockFi filed for bankruptcy Monday, becoming the latest crypto firm to go under following the rapid collapse of FTX.
Euro zone inflation has not peaked and the risk is that it will turn out even higher than currently expected, European Central Bank President Christine Lagarde said on Monday. "We do not see the components or the direction that would lead me to believe that we've reached peak inflation and that it's going to decline in short order," Lagarde told the...
‘I Believe the Economy Is the Biggest Bubble in World History,’ Says Robert Kiyosaki: MWNov 28, 2022 - 10:17:35 PST
'Rich Dad, Poor Dad' Robert Kiyosaki sees more pain ahead for the global economy, even as some investors are wondering if the bottom is in for U.S. stocks.
Companies with deep resources are outsourcing management to apps and algorithms, putting home ownership further out of reach.