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‘This Is Serious’: JPMorgan’s Jamie Dimon Warns U.S. Likely To Tip Into Recession in 6 to 9 MonthsOct 10, 2022 - 11:14:12 PDT
JPMorgan Chase CEO Jamie Dimon warned that a "very, very serious" mix of headwinds was likely to tip both the U.S. and global economy into recession.
It has been a dramatic week for precious metals, particularly silver, which on Monday rose $1.70, 8.9%, followed by a further rise on Tuesday. Gold rose $52 dollars from last Friday’s close to trade at $1712 in Europe this morning, and silver $1.70 to trade at $20.70.
The bond market has had a bad year. And no one holds more bonds than central banks, which over the past decade have built a fixed-income portfolio worth well
In my other role as a secret apologist for Russia and Vladimir Putin, I was contacted yesterday by Sputnik News to comment on the official US debt number surpassing $31 trillion. I’m always grateful for the opportunity to talk about these issues. I am, after all, a fiscal hawk extraordinaire,. At the same time, I’m completely hip to why Sputnik (and RT) wanted to discuss this issue.
Paul Tudor Jones Believes We Are in or Near a Recession and History Shows Stocks Have More To FallOct 10, 2022 - 08:53:27 PDT
Billionaire hedge fund manager Paul Tudor Jones believes the U.S. economy is either near or already in the middle of a recession as the Federal Reserve rushed to tamp down soaring inflation with aggressive rate hikes.
Oct 10, 2022 - 08:51:25 PDT
The share of unemployed Americans who quit or voluntarily left their jobs rose to nearly 16 percent in September, a level not seen since 1990.
US Treasury Secretary Janet Yellen said the decision by Saudi Arabia and its OPEC+ allies to cut oil output was inappropriate and harms the global economy, reinforcing the Biden administration’s strong criticism of the move.
Echoing Sun Tzu ("All warfare is based on deception"), successful central banking is based on deception masked by a torrent of transparency.
Unleaded gasoline futures are the key input into the price of gasoline. Prices started and ended September near $2.37. Don't look for much CPI help from gasoline in September.
THE WOLF STREET REPORT: Something Big Has Already Broken: Price StabilityOct 10, 2022 - 08:30:59 PDT
The Fed will tighten “Until Something Breaks” and then pivot? Wait a minute…
What the Fed did in details and charts. And, well, “Primary Credit” is starting to show up again.
The Federal Reserve, in their war on inflation (partly caused by excessive monetary stimulus since late 2008 under Nobel Laureate Ben “The Mad Money Printer” Bernanke) has led to large losses on their Treasury holdings as rates rise. The bill, of course, goes to Janet Yellen and The US Treasury. Ultimately, that burden is paid-for by US taxpayers.
Oct 10, 2022 - 08:07:05 PDT
Another casualty of The Fed’s tightening and reduction in M2 Money supply are … the mortgage and housing markets. The US mortgage rate has soared to 7.04% (highest since 2000) and mortgage DEMAND has fallen to the lowest level in recorded history.
Oct 10, 2022 - 08:04:08 PDT
To combat Bidenflation, The Fed has signaled that they will continue to raise interest rates. But at what cost?
Under “Nuclear Joe” Biden, the US is truly the land of confusion. As the Biden Administration touts “affordable housing,” we are seeing the 30-year mortgage rate rise above …
The Fed Has "Absolutely Zero Confidence In Their Ability To Forecast Inflation"Oct 10, 2022 - 07:59:03 PDT
A pivot ahead? I've got a bridge to sell you!. “Transitory” proved transitory to those confidently walking off a cliff they couldn’t see ahead of them ‘because we don’t have cliffs anymore’. Then, the key fingernail they dug into the cliff-face was “pivot ahead!” to allow them to clamber back up onto solid ground.
Oct 10, 2022 - 06:05:32 PDT
The U.S. Treasury & the Federal Reserve would have 30 months to publicly disclose all gold holdings and gold transactions, after which time the Federal Reserve note “dollar” would be pegged to a fixed weight of gold at its then-market price.
There’s a global migration underway in the gold market, as western investors dump bullion while Asian buyers take advantage of a tumbling price to snap up cheap jewelry and bars.
The Bank of England is ramping up its temporary bond buying program to prepare banks for liquidity pressures as the scheme reaches its end on Friday (14 October).
Former Treasury Secretary Lawrence Summers said it’s important for the Federal Reserve to deliver on the further monetary tightening it has signaled, even in the face of financial risks stemming from its actions.