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China stocks’ frenzied week has ended how it began: with jaw-dropping losses.
Hong Kong stocks lead loses as shares in the Asia-Pacific fell following the Bank of Japan's interest rate decision.
European equities retreated as investors digested a flurry of corporate earnings after disappointing results from US tech giants.
Obscene valuations were only made possible by massive money printing which has now been shifted into reverse.
U.S. stock futures lagged Friday morning as a big earnings miss from Amazon kicked already beaten-down technology stocks lower to end a rough week of third-quarter financials.
The third quarter GDP data came out this week and it looks like the recession is over. (If there ever was one.) But in this episode of the Friday Gold Wrap podcast, host Mike Maharrey digs into the data and says, "Not so fast!" He also talks about a mainstream economist who sounds a lot like Peter Schiff and a big problem brewing with diesel fuel.
U.S. ELECTRICITY CRISIS ON ITS WAY SOON: Americans Paid Highest Price Ever For Residential ElectricityOctober 28, 2022
Even though Americans didn't suffer an Energy Crisis like the Europeans did this year... that time is still coming in the years ahead. Why? The U.S. residential electricity price hit a record high this year, and this is just beginning. Furthermore, Green Energy is making electricity prices higher, not lower...
"Gold is (only) a pariah for 23 percent of the world's GDP, which is to say Americans," he said.
In his view, people in the US should be concerned about factors such as the aggregate national debt, negative real interest rates and the amount of government spending compared to government income.
The latest boost to gold came in response to a fresh slump in US bond yields and the dollar after economic data on Tuesday showed US home prices tumbling the most since 2009 while US consumer confidence was down by more than expected.
Oct 27, 2022 - 12:17:50 PDT
A new study from the financial services company Northwestern Mutual found that U.S. adults believe they will need $1.25 million to retire.
CNBC's Diana Olick, joins 'The Exchange' to discuss housing prices rising as new home sales numbers decrease, the tanking demand for refinances and the increase in all-cash buyers as mortgage rates rise.
New GDP number not nearly as positive as Biden White House's spin. Here's whyOct 27, 2022 - 12:03:21 PDT
Although the headline GDP number is positive for the third quarter, it does not reflect an improvement in the life of the common man, contrary to the White House’s rhetoric. The average American’s finances continue to deteriorate under the current administration.
Yellen: GDP Report Is Evidence of ‘Resilient’ Economy, US Has Fiscal Space To Respond to a RecessionOct 27, 2022 - 11:53:33 PDT
Treasury Secretary Janet Yellen said that while slower growth would help tame inflation, data released Thursday showed the US economy was resilient in the face of global challenges.
Global Economy Approaching a Recession, Central Banks Unchained: Reuters PollOct 27, 2022 - 11:42:59 PDT
The global economy is approaching a recession as economists polled by Reuters once again cut growth forecasts for key economies while central banks keep raising interest rates to bring down persistently-high inflation.
Credit Suisse Crashes Most Ever After Admitting It Suffered A Bank Run And Breached Liquidity RequirementsOct 27, 2022 - 11:41:08 PDT
Two weeks ago, the NYT mocked "amateur investors" for piling up in a historic, "meme" short bet against the troubled Swiss bank Credit Suisse, which it argued was nowhere near as distressed as rumors suggested and when discussing the violent plunge in the stock price said that "the timing puzzled the bank’s analysts, major investors and risk managers. Credit Suisse had longstanding problems, but no sudden crisis or looming bankruptcy."
Everywhere I go, people are mystified about President Joe Biden’s economic agenda. So few of the policies comport with basic common sense that I’m asked the same question over and over: Is Biden intentionally trying to take a wrecking ball to the economy? Is this all part of some diabolical plan, the “great reset,” to end our system of free market capitalism and replace it with some form of big government socialism?
Housing Market Activity Is Crashing and Threatens To Push the U.S. Into RecessionOct 27, 2022 - 11:14:00 PDT
Just like it did in 1981 and 2008.
In Stunning Strategy Reversal, Pentagon Will No Longer Rule Out Use Of Nuclear Weapons Against Non-Nuclear ThreatOct 27, 2022 - 11:11:20 PDT
Now thanks to the Biden admin, that "once in a lifetime" event is that much closer to taking place.
How Cold War II Could Turn Into World War III, Niall Ferguson: BloombergOct 27, 2022 - 09:17:02 PDT
History shows that nothing causes fiscal and monetary instability quite like multiple big, long conflicts.
China remains the greatest security challenge for the United States despite Russia's war in Ukraine, and the threat from Beijing will determine how the U.S. military is equipped and shaped for the future, according to a new Pentagon defense strategy.