Gold has all the potential to go unprecedentedly high. But silver will be gold on
Site:
Precious metals news
Tom Woods and I discuss how housing regulation and monetary policy have led to inflation, shortages, and a host of economic problems: Ep. 2233, The Fed Is Screwing Up Housing Again.
Nov 11, 2022 - 11:30:27 PST
“A lot of people have compared this to Lehman. I would compare it to Enron,” Summers told Bloomberg Television’s “Wall Street Week” with David Westin. “The smartest guys in the room. Not just financial error but — certainly from the reports — whiffs of fraud. Stadium namings very early in a company’s history. Vast explosion of wealth that nobody quite understands where it comes from.”
Inflation Slowdown? Not in Some Cities, Where Consumer Prices Still Top 12%Nov 11, 2022 - 09:05:53 PST
The spike is even worse in certain cities: Phoenix, for instance, recorded the highest inflation rate among large cities, with prices up a stunning 12.1% last month. While that's down from a peak of 13% recorded earlier this year, that's likely little consolation to residents facing painfully high prices.
The number of people in work seeking crisis support from Citizens Advice has more than doubled since 2020.
A government watchdog found that 179 ineligible nonprofit organizations received a total of $684 million in Paycheck Protection Program loans....
With government meddling, many farmers end up doing less with more, and people end up paying more for less. We need innovation instead.
Nov 11, 2022 - 08:52:36 PST
"In this country, we are not ruled by an all-powerful executive with a pen and a phone," writes federal judge, striking down President Joe Biden's student debt relief plans.
"The neutral real interest rate is thought to be around 0.25 percent, suggesting the Fed may need to raise its nominal interest rate target another 175 to 200 basis points just to get to neutral."
The Fed’s battle with inflation this year has pitched the stock market into one its most bearish cycles in decades. The expectation -- or hope -- is that once the Fed takes its foot off the brake, stocks will cast off their shackles and new a bull market will take flight.
An unexpectedly weak run of Chinese economic data this month has raised the heat on policymakers to deliver more stimulus measures, but it also shows the limited effect more monetary easing and infrastructure spending can have. Signs of weakness are emerging from across the economy: exports fell; inflation slowed; new bank lending tumbled.
Nov 11, 2022 - 08:05:24 PST
It's all over for FTX. It filed for bankruptcy today and Sam Bankman-Fried, widely known as "SBF", stepped down as CEO.
Nov 11, 2022 - 08:03:48 PST
The October Senior Loan Officer Opinion Survey on Bank Lending Practices came out yesterday and its a doozy. The Net Percentage of Domestic Banks Reporting Stronger Demand for Mortgage Loans is sinking faster than Joe Biden’s oratory skills as The Fed tightens their monetary belts.
Powell's Favorite Sentiment Signal Shows Inflation Expectations Rising, Confidence CrashingNov 11, 2022 - 08:01:49 PST
After yesterday's exuberant response to a very slight rollover in core CPI from 40 year highs, all eyes are switched to Jay Powell's latest signal of public willingness to believe The Fed has this 'inflation thing' under control - UMich inflation expectations - which unexpectedly rose in October.
Gold prices were headed for their best week in more than two years after extending gains on Friday as signs of cooling inflation raised hopes that the Federal Reserve might temper its hawkish policy.
The entire $16 billion fortune of FTX co-founder Sam Bankman-Fried has now been wiped out, one of history’s greatest-ever destructions of wealth.
China is expected to take additional steps to boost its economy by making its biggest cash injection via medium-term loans this year or by reducing banks’ reserve requirement ratio as Beijing’s strict Covid curbs continue to weigh.
Commodities from Iron to crude to copper to soybeans soared after China made a significant change to the zero Covid policy that has caused nothing but trouble in the world's second-biggest economy.
63% of Americans Support the Idea of New Stimulus Checks To Combat Hot InflationNov 11, 2022 - 05:43:55 PST
Handing out dollars in an inflationary environment will only make matters worse by driving prices up further,” wrote Beth Akers, a senior fellow at the American Enterprise Institute, in a September blog post.
Bond traders are declaring victory over the Federal Reserve’s war on inflation after it slowed last month to a weaker pace than economist forecasts.
The BOE Just Warned That the UK Faces Its Longest Recession in 100 Years — Is the US Next?Nov 11, 2022 - 05:36:19 PST
You’d think they’d be used to gloomy forecasts by now.