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China’s central bank cut the amount of cash lenders must hold in reserve for the second time this year, ramping up support for an economy racked by surging Covid cases and a continued property downturn.
A Thanksgiving Story You Probably Didn't Learn in School: SchiffGold Friday Gold Wrap Nov. 25, 2022November 25, 2022
There are a lot of things they didn't teach you in school. In this episode of the Friday Gold Wrap, host Mike Maharrey tells you a Thanksgiving story you've probably never heard before - at least not from your school teacher. He also touches on the Fed minutes that came out this week that seem to confirm a soft pivot on rate hikes.
AMERICANS FACING SKY-HIGH ENERGY PRICES: Electricity Prices Hit Another Record High In Sept 2022November 25, 2022
If things couldn't get any worse for struggling Americans this year, electricity prices reached a new all-time high in September. Residential electricity prices surged 20% since the beginning of the year, and will likely continue to increase significantly in the coming years...
Silver reverses an intraday dip to sub-$21.00 levels and surges to a four-day high during the early European session on Wednesday. The white metal is currently trading around the $21.25-$21.30 region, up over 0.80% for the day, with bulls now awaiting a sustained move beyond the 200-hour SMA before placing fresh bets.
Gold has snapped a four-day losing streak. Economists at Societe Generale recommend holding the yellow metal in order to stabilise portfolio volatility.
Gold prices extended gains on Wednesday as minutes from the U.S. Federal Reserve's November policy meeting showed a "substantial majority" of members opting to slow down rate hikes.
As interest rates rise on everything from mortgages to car loans to Treasurys, that also means interest is rising on credit card debt. That's not exactly great news as so many indicators point to a recession—and the worsening job situation that comes with it—on the horizon.
Wouldn’t it be nice to permanently rid ourselves of economic crises? In a previous article, I showed that the waste of the boom and the cost of the bust are brutal even using the best recovery policies available.
Does America simply lack the political will to face economic reality?
Almost eighty years ago, economist and philosopher Friedrich Hayek published what is now considered to be one of the most important essays in all of economics, “The Use of Knowledge in Society.” In it, he detailed what is known as “the knowledge problem,” which he describes as, “a problem of how to...
To many of us, no matter how well versed in history, in political affairs, or in socioeconomic issues, the present conditions in the West, and especially in Europe, can sometimes seem like the plot of a bad movie.
A fallacy is defined as a mistaken belief or a failure in reasoning. Though most people try to avoid mistakes, no one is infallible, not even those who act like they are. You can download a chart of common fallacies here. The online chart is hyperlinked to each of the fallacies.
As workforces shrink and opting out becomes increasingly attractive, Global Growth implodes on both the production and consumption sides.
"To make up lost revenue, the US industry may become more dependent on government largesse and ultimately less vibrant and dominating. Ultimately, making policy more like China risks turning US industry into something more like China’s." ~ Doug Bandow
Lose $1.7 billion on $519 Million in Revenue? Bitcoin Miner SPAC Core Scientific Shows How. Bankrupt a Year after Going Public?Nov 23, 2022 - 12:06:19 PST
Consensual hallucination was required to pull this off.
The Bank of England needs to raise interest rates further to tackle inflationary pressures that are becoming increasingly domestic, Chief Economist Huw Pill will say in a speech tonight.
FOMC Minutes Split Between Dovish (Slower Hikes) And Hawkish (Higher Terminal Rate) ViewsNov 23, 2022 - 11:50:04 PST
Tl;dr: Perhaps most critically when breaking down the FOMC statement - the focus falls on one word: "various”. Bloomberg concludes that while policymakers stressed their “strong commitment” to reducing inflation, support for a higher rate peak may have been less than universal. Hence the dovish lean to a hawkish message from the Minutes
From Conspiracy Theory to Fact: I’ve been warning about a central bank digital currency (CBDC) for a long time — or as I like to call it, “Biden Bucks.”
Nov 23, 2022 - 08:09:42 PST
The good news today is new home sales surprised to the upside and grew 7.5% MoM in October. The bad news? Some are now realizing that The Fed’s QE program was a colossal policy mistake because there’s no convincing evidence that central banks’ purchases of trillions of dollars of bonds and other financial assets helped any economy.
UMich Sentiment Slides In November, Inflation Expectations Steady Near Multi-Year HighsNov 23, 2022 - 07:16:52 PST
As has been the case in recent months, the headline sentiment signal from UMich pales relative to the survey's measure of Americans' inflation expectations. This is the final print for November was the same as the flash print for the medium-term (3.0%) but the short-term (1Y) expectation dropped modestly from 5.1% to 4.9%...