Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Morgan Stanley’s chief U.S. equity strategist Michael Wilson told CNBC's "Squawk Box" that he's convinced a corporate earnings recession is inevitable—and that it could be worse than a "normal" recession.
As things unravel, the one surefire strategy is to chart a course for greater self-reliance. Improving self-reliance has no downside, only upside, and everyone can increase their self-reliance incrementally in small ways.
Sep 28, 2022 - 12:16:11 PDT
Puerto Rico asked the Biden administration to allow foreign ships to bring fuel to restore power, but this is prevented by the Jones Act.
"While interest rates can sometimes be useful as a policy barometer, the various monetary measures (from the monetary base at narrowest to total nominal expenditures at broadest) matter far more."
Inflation Expectations Silliness: Shelter, food, energy, medical care services, education expenses (think tuition and books), car insurance, medical care commodities, and motor vehicle maintenance are all extremely inelastic items.
US Treasury Secretary Janet Yellen is set to leave the Biden administration after the November midterms depending on the results.
The Federal Reserve has lost most of its credibility, leaving the US at risk of considerable economic pain, according to Mohamed El-Erian. The economist warned on Wednesday that the Fed's failure to tame inflation this year meant that markets were no longer confident that a US recession could be avoided as it tightens monetary policy.
Despite privacy being one of the main concerns citizens have about central bank digital currencies (CBDCs), the heads of the United States (US) Federal Reserve and European Central Bank (ECB) have confirmed that their respective CBDCs will not be anonymous.
rading volumes in nonfungible tokens -- digital art and collectibles recorded on blockchains -- have tumbled 97% from a record high in January this year. They slid to just $466 million in September from $17 billion at the start of 2022, according to data from Dune Analytics. The fading NFT mania is part of a wider, $2 trillion wipeout in the crypto sector as rapidly tightening monetary policy starves speculative assets of investment flows.
Sep 28, 2022 - 08:39:35 PDT
We are truly moving into unprecedented times. For decades, the U.S. has been the leading agricultural power in the world. Most of us have lived our entire lives in an environment of “more than enough”, and that is because food production has never been a major concern in this nation. But now things are changing. Food production is being hit from all sides by a “perfect storm” of problems, and this “perfect storm” is only going to intensify in the months ahead.
Sep 28, 2022 - 08:34:14 PDT
The out-of-control inflation is now forcing a significant proportion of Americans to skip their utility payments, according to Bank of America (BofA).
Sep 28, 2022 - 08:31:18 PDT
With crude inventory in the SPR down to its lowest level since Ronald Reagan's first term, President of the U.S. Oil and Gas Association Tim Stewart said the reserve is being used by Biden to "buy down political risk" ahead of the midterm elections.
Avoiding a supply shock in oil would be difficult in the current circumstances. The OPEC+ shortfall is not all a result of conscious action. In fact, most of it is not, and this means it would be almost impossible to make up for. And the U.S. can’t afford to continue drawing on its SPR for much longer without doing something in the replenishment department. It’s called strategic for a reason, after all.
Corporate profit growth will likely slow significantly as drivers of margin growth are set to reverse to the detriment of investors.
Stanley Druckenmiller Sees ‘Hard Landing’ in 2023 With a Possible Deeper Recession Than Many ExpectSep 28, 2022 - 07:37:08 PDT
"Our central case is a hard landing by the end of '23," Druckenmiller said at CNBC's Delivering Alpha Investor Summit in New York City Wednesday. "I will be stunned if we don't have recession in '23. I don't know the timing but certainly by the end of '23. I will not be surprised if it's not larger than the so called average garden variety."
Billionaire Investor Ray Dalio Says UK’s Economic Plan ‘Suggests Incompetence’Sep 28, 2022 - 07:34:04 PDT
The financial market turmoil resulting from the U.K. government's spending plan "suggests incompetence," according to billionaire investor Ray Dalio.
JPMorgan calculates the metrics by comparing the pre-recession peaks of various classes and their troughs during the economic contraction.
US Pending Home Sales Tumbled To 11 Year Lows (Ahead Of Recent Rate Spike)Sep 28, 2022 - 07:09:45 PDT
With mortgage rates soaring (now shockingly above 7% amid the fastest rise in history), it's no surprise that analysts expected pending home sales to slide further in August (latest data) and they were right. Pending Home Sales fell 2.0% MoM (more than the 1.5% MoM decline expected) pushing the index down 22.5% YoY...
Mohamed El-Erian, chief economic adviser at Allianz and Bloomberg Opinion columnist, talks US dollar strength and the global bond market rout...
The $24 trillion US Treasury market has been hit by its most severe turbulence since the coronavirus crisis, highlighting how wide swings in international bonds and currencies and jitters over US interest rate hikes have deterred investors.