Gold has all the potential to go unprecedentedly high. But silver will be gold on
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From the very start, the idea of getting rid of fossil fuels is an absurdity. But politicians are hardly ever deterred by truth and reality. The policies to "transition" to "green energy" are already producing economic pain and suffering. The further the "transition" proceeds, the higher the pain will become. Central planning never works.
Sep 1, 2022 - 08:47:15 PDT
The option will first become available in certain neighborhoods in Charlotte, Dallas, Detroit, Los Angeles and Miami. The new mortgage, called the Community Affordable Loan Solution, aims to help eligible individuals and families obtain an affordable loan to purchase a home, the bank said.
Rent isn't the only cost most people are dealing with. Inflation is taking a toll as the cost of necessitates such as food continues to rise.
Sep 1, 2022 - 08:39:22 PDT
CBS pointed out that 53 million Americans relied on food banks in 2021, compared to 40 million in 2019, which means a whopping 13 million new Americans can’t afford essential items at supermarkets.
Sep 1, 2022 - 08:38:11 PDT
What we are beginning to see in the States is the sort of thing that normally happens in third-world countries.
Cannibalize is an interesting word. It is a remarkably graphic way to describe the self-inflicted destruction of a system by stripping previously functional subsystems to sustain the illusion of system functionality.
Capital Economics sees pound falling as low as $1.05 Higher prices for imports will mean more pain for economy
"In the new situation, accumulating liquid foreign exchange reserves for future crises is extremely difficult and not expedient," said the text of a proposal prepared for a meeting of Russian government and central bank officials, Bloomberg reported, citing people familiar with the deliberations.
Treasury Secretary Janet Yellen on Wednesday warned that a failure to place a price cap on Russian oil would hurt the global economy. “Without a price cap, we face the threat of a global energy price spike if the majority of Russian energy production gets shut in," Yellen said at the start of a meeting with her British counterpart, Nadhim Zahawi.
US Manufacturing Surveys Signal Weakest Growth In Over 2 Years, Prices Paid PlungesSep 1, 2022 - 07:07:47 PDT
S&P Global's Manufacturing surveys for August have not been pretty. Turkey, Italy, Germany, UK, the Eurozone aggregate, and Canada all printed below 50 this morning (in contraction) but US Manufacturing was expected to hold just above the Maginot Line at 51.3 and it did. However, the final August print of 51.5 (small improvement over the flash print) is the weakest since July 2020. The ISM Manufacturing survey was flat at 52.8 from July (better than the 51.9 expected)...
Gold prices hit a six-week trough on Thursday, as sentiment was weighed down by a firmer U.S. dollar and prospects of aggressive interest rate hikes by major central banks to tame inflation.
The Fed Must Do $3.9 Trillion In QT To Control Inflation... Which It Can't Possibly DoSep 1, 2022 - 06:02:21 PDT
Starting with first principles, there is one thing that almost all traders can agree on and it is that, sooner or later, the Fed tightening cycle will spark another financial crisis and market crash, something which we reminded readers in early 2022:..
The number of Americans filing for jobless benefits for the first time fell from a revised lower 237k to 232k last week (the lowest since June) which suggests the pain the labor market is improving at the margin. However, continuing claims rose to their highest level since April at 1.438mm...
The two-year Treasury yield touched 3.50% for the first time since 2007 after comments from Fed officials this week signaled further aggressive rate hikes. Federal Reserve Chair Jerome Powell has seemingly concluded that it will something more painful than a soft economic landing to tackle a pernicious inflation rate running at more than triple the 2% target.
Runaway Inflation in the Eurozone, which Kicked Off in mid-2021, Sets New RecordSep 1, 2022 - 05:51:49 PDT
“Temporary” inflation is suddenly runaway inflation. But the negative-interest rate idiocy and QE are finally over.
Australian home prices recorded their largest monthly decline in almost four decades in August, with rapidly rising interest rates expected to drive further falls in the period ahead.
It is an excellent time for US travelers to visit Europe as the euro is trading at a twenty-year low against the US dollar. At below parity, the bonus for European vacationers is a penalty for US multinational companies.
The dollar gained ground against the euro and sterling on Thursday after earlier hitting a 24-year peak against the Japanese yen, as investors positioned for higher U.S. interest rates and remained concerned about the health of European economies.
The Indian rupee was trading higher to the U.S. currency on Thursday, as falling oil prices and lack of interest to build long dollar positions helped the local unit recover early losses.