Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Precious metals news
Sep 29, 2022 - 14:15:56 PDT
A common refrain among the market experts I talk with is that we can't be 'investors' in the current environment -- instead, we're all forced to be speculators, guessing what Fed Chair Jerome Powell and other The Federal Open Market Committee members are going to decide to do next.
Sep 29, 2022 - 12:59:53 PDT
“Gold is no longer a safe haven.” “Gold isn’t an effective hedge against inflation.” “Gold is dead.” You may have heard and read these comments, and others like it, numerous times over the course of the recent “everything selloff.” This is staggeringly shortsighted to me. Gold is down only around 9.5% for the year, despite […]
While commodity prices have taken a dip during the summer rally in equities, they’re back on the move higher again, giving consumers no reprieve from rising prices. A Banks report noted that prices could stay elevated for some time.
Last week we discussed the consequences of continued high inflation. It will bring economic devastation, the dollar would lose its status as the world currency, destruction of the middle class, and likely another Great Depression.
In another crucial sign that today’s inflation will likely be tomorrow’s deflation, the S&P CoreLogic Case-Shiller home price index fell for the first time in 10 years. This national measure of home prices in the 20 largest cities declined 0.44% in July, which resulted in the largest one-month deceleration in the annual growth rate in the history of the index.
"The ease with which the concept is expressed, as if debt were an ice cube left on a driveway on a summer day, betrays the numerous costs associated with such a scheme. And that holds whether the undertaking is intentional or not." ~ Peter C. Earle
Sep 29, 2022 - 11:35:31 PDT
Since the ’70s, millions have moved into what became Hurricane Ian’s path. Why do governments keep encouraging people to move into risky areas?
Possibly the federal government's most efficient pandemic spending effort.
Another U.S. Taxpayer $1.1BN In Arms Ukraine: "We Will Not Be Deterred," White House SaysSep 29, 2022 - 11:07:44 PDT
On Wednesday President Joe Biden approved $1.1 billion more in military aid for Ukraine, marking the 22nd such installment, and as the US is warning Russia against following through with annexation of four territories which wrapped a 5-day referendum on joining the Russian Federation.
Most Americans Support Biden's Student Loan Handout -- Until They Realize It Raises Taxes: PollSep 29, 2022 - 11:04:49 PDT
A majority of Americans would oppose President Joe Biden’s plan to “forgive” billions of dollars of federal student loan debt if it led to higher taxes, according to a recent poll.
ALERT: 8 Reasons Stocks, Real Estate & Bonds Will Crater Like it's 1929 (New Book Preview)Sep 29, 2022 - 10:12:40 PDT
Mike Maloney has a new book coming out very soon. In fact, he is writing the very last chapter as you read this.
Some investors may read this and jump to the conclusion that gold is no longer a valuable asset during times of economic and financial uncertainty, but they would be mistaken. Although gold is down for the year, it’s nevertheless outperforming most major asset classes including Treasury bonds, U.S. corporate bonds, the S&P 500 and tech stocks. The precious metal has therefore helped investors mitigate losses in other areas of their portfolio.
Total dollar credit is now over $90 trillion and the Debt Clock shows US national debt at close to $31 trillion. There are no constraints on debt or government spending anywhere.
Part of the “QE is not MMT” argument also rests on a view QT will soon reverse QE: but can that really happen now? The BOE just cancelled a speech on balance sheet contraction pencilled in for today. But if so then the imperative must surely be NOT to do more of the same old QE, when everyone can see what vast nothingness its trillions of dollars have bought us in our unequal, inflation-struck, and geopolitically-unprepared real economy?
Americans struggling to adjust to inflation want to know when the rising costs of food, appliances and other necessities will come down. Yet prices for some items such as household furnishings and personal care products are “sticky,” economists say, and likely to stay high even when overall inflation levels off.
Sep 29, 2022 - 07:06:53 PDT
When temporary seems permanent? Banks get to park money at The Federal Reserve overnight in the form of repurchase agreements (or repos). But as inflation is raging in the US, banks have parked a record $2.366 TRILLION at The Federal Reserve.
Sep 29, 2022 - 06:54:37 PDT
High inflation, low growth and rising unemployment: the deadly ingredients of stagflation. Are we there yet? Not yet, given that unemployment remains low. But with central banks aggressively hiking rates, the ever-growing signs of recession and job loss while inflation refuses to surrender indicate the 1970s’ stagflation may soon be upon us.
GERMAN inflation reached double digits for the first time since the euro was introduced more than 20 years ago, surging more than anticipated after temporary government-relief measures ended and Europe’s energy crisis worsened. Consumer prices jumped 10.9 per cent from a year ago in September, topping August’s 8.8 per cent advance...
The only other times that recession model was this high has been during severe economic downturns, most recently in 2020 and during the global financial crisis of 2008 and 2009.
Sep 29, 2022 - 06:01:45 PDT
Fed officials continued to hammer home the central bank’s hawkish outlook, with Atlanta President Raphael Bostic saying he backs raising rates by a further 1.25 percentage points by the end of this year. Meanwhile, the People’s Bank of China said it will accelerate usage of targeted loans.