Gold has all the potential to go unprecedentedly high. But silver will be gold on
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It is important to remember the CPI inflation number is a lie. This means even if the CPI falls dramatically in 2023, we may, or most likely will still have inflation.
Railroad engineers accepted their deal with the railroads that will deliver 24% raises but conductors rejected theirs, threatening the health of the economy just before the holidays and casting more doubt on whether the industry will be able to resolve the labor dispute before next month's deadline without the help of Congress.
The outlook for credit conditions next year for non-financial companies in Europe, Middle East and Africa is negative, credit rating agency Moody's said on Monday, as financing conditions degrade and energy and wage costs loom.
(Bloomberg) -- US consumers continued to seek out more credit cards this year even as the Federal Reserve aggressively lifted borrowing costs, a shift that cooled demand for mortgages, auto loans and other types of credit, according to research from the New York Fed.
The Biden Administration is setting all sorts of records. One is the worst inflation rate in 40 years. Another is highest gasoline prices in history (until the latest global slowdown). The list goes on, but here is another one: the US Treasury 10Y-2Y yield curve is now at -72.5 basis points, the more inverted curve since 1981.
Nov 21, 2022 - 09:06:06 PST
As Americans prepare to hit the road for Thanksgiving, average gas prices will be at their highest seasonal level ever, according to GasBuddy.
Joe Biden Leads ‘Critical’ Call For Game-Changing, Global Bitcoin And Crypto Rules After Shock FTX Collapse. After Sam Bankman-Fried helped Democrats avoid a red wave. NOW a warning??
Jim Grant is writing about Gold again in his erudite historian way. In a brief but tightly-worded comment in this week’s Interest Rate Observer he touches on: The press infatuation with pronouncing Gold dead, Central Bank purchases and history, Gold’s performance in 2022 as inflation hedge (not so good), the potential for European Central Bank revaluations and more. Here is an attempt to summarize and decode some of it.
My previous article demonstrated how the free market solves a boom-bust crisis and is the only solution, its effectiveness depending upon the magnitude of the crisis and, more importantly, how much the government intervenes in response.
"You Can't Put It Back Together" - Rickards Warns Of 'Unstoppable Crisis Worse Than 2008’Nov 21, 2022 - 07:43:52 PST
Six-time, best-selling financial author James Rickards says the upcoming book “Sold Out” lays out the case why a huge crash is already a certainty sometime in 2023.
Valuations are the “weighing machine” and provide information about likely long-term investment returns and the potential extent of market losses over the completion of any market cycle. Market internals are the “voting machine” and provide information about speculative versus risk-averse investor psychology. Presently, both the weighing machine and the voting machine point in the same direction. That will change. Until it does, ignoring them is a mistake.
Investors anxious to determine when the dollar should hit its peak may have to wait a few more quarters, Goldman Sachs said in a research note on Friday.
Financial crises are really about trust. They tend to occur when people lose trust in assets, institutions, or people they had thought trustworthy. Whether the lost trust was a consequence of the crisis, or its cause is a different question.
While many market participants are concerned about rate increases, they appear to be ignoring the largest risk: the potential for a massive liquidity drain in 2023.
On 20 March 2020, when the Fed reduced its fund rate to zero, the 30-year US Treasury bond yielded 1.18%. Earlier this week the yield stood at 4.06%. That’s a fall in price of over 50%. And time preference suggests that short-term rates, for example over one year, should currently discount a loss of currency’s purchasing power at double current rates, or even more.
Gold prices fell for a fourth straight session on Monday due to a stronger dollar, with the U.S. Federal Reserve's monetary policy stance clouding the outlook for non-yielding bullion.
Nov 21, 2022 - 05:55:14 PST
US retailers are going through their first real-terms fall in revenues because the international monetary disaster this vacation season, at the same time
Stressed-Out Americans Plan to Buy Fewer Christmas Gifts, Donate Less to CharityNov 21, 2022 - 05:54:21 PST
Inflation is souring the holiday season, a crucial time when companies, charities and nonprofits typically collect their biggest haul of the year. “I can’t give the way I want to this year.”
The Most Splendid Housing Bubbles in Canada, November Update: Fastest 5-Month Plunge on RecordNov 21, 2022 - 05:53:30 PST
Down faster during the bust than up during the bubble: a special feature in some cities. Vague humor wafts around the charts.
Sweden’s home-price decline accelerated in October, as the Nordic country gripped by the most severe housing slump in three decades shows what may lie ahead for many other developed economies.