Gold has all the potential to go unprecedentedly high. But silver will be gold on
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The US dollar hit a 24-year high of 139.69 after gaining about 0.5% against the yen on Thursday, as investors brace for more US rates hikes.
China kept up its resistance against yuan weakness by setting a stronger-than-expected currency fixing for a seventh straight day, prompting speculation of a possible adjustment to the mechanism to prevent the yuan from further depreciation.
China's factory activity contracted for the first time in three months in August amid weakening demand, while power shortages and fresh COVID-19 flare-ups disrupted production, a private sector survey showed on Thursday.
Think tank: millions more face absolute poverty amid terrifying fall in income - More than three million are expected to fall into absolute poverty in ‘worst two-year change on record’.
Britons are set for the biggest squeeze on living standards in a century unless the next prime minister delivers tens of billions pounds of additional support, according to new analysis.
Oil fell for a third day as demand concerns continue to escalate and the dollar rose, joining a selloff of assets from equities to metals.
Global equity markets started September on a gloomy note and extended their declines to a fifth day as weak Chinese data and new Covid-19 lockdowns in the world’s second largest economy weighed on sentiment.
The photography industry was once one of the biggest consumers of silver. With the advent of digital photography and cell phone cameras, the use of film gradually declined. But there has been a revival in film and the use of silver in photography increased last year.This is one of several silver-related stories in the latest edition of Silver News published by the Silver Institute.
On the surface, some of the economic data that came out this week seemed to indicate that the economy is in better shape than the bears believe. In his podcast, Peter Schiff dug into consumer confidence and labor market data. He concluded that the strong economy narrative is greatly exaggerated. In fact, the data reveals a dysfunctional economy.
GMO's co-founder says overvalued equities, bonds and housing will collide with high rates and inflation to cause more pain. Grantham predicted around the start of the year that benchmark stocks would plunge almost 50% in a historic collapse. The S&P 500 at one point in June dropped almost 25% from its January peak, before roaring back in the following two months. Yet US equities are tumbling yet again...
Fed Rate Hikes Won’t Bring Down Inflation As Long as Government Spending Stays HighAug 31, 2022 - 12:40:15 PDT
A paper released at the same Jackson Hole, Wyoming, summit where Fed Chair Powell spoke suggests that the central bank can't do the job itself.
Some of Wall Street’s biggest banks boosted their forecasts for European Central Bank interest rates, saying faster-than-expected inflation will convince officials to react with even more aggression.
The powerful and prestigious Federal Reserve is having a tough year in 2022 in at least three ways:..
The Politically Incorrect Guide to Economicsby Thomas J. DiLorenzoRegnery Publishing, 2022; xx + 242 pp. Like Ludwig von Mises and Murray Rothbard, Tom DiLorenzo is an economist with an extraordinary knowledge of history, and this shows to great advantage in his brilliant new book.
I fail to see how this can possibly be legal but few governments give a damn about legalities these days.
Aug 31, 2022 - 11:59:10 PDT
When inflation is so bad that REAL wage growth is negative (-3.31% YoY), I would hardly call that a strong economy for the middle class and low-wage workers. We also see that REAL home price growth (existing home sales median price YoY – CPI YoY) has slowed to only 2.23% YoY in July.
The Most Splendid Housing Bubbles in America, August Update: First Price Drops Appear, All in the WestAug 31, 2022 - 11:52:56 PDT
The Case-Shiller index, which lags 4-6 months, is starting to pick up the price drops in Seattle, San Francisco, San Diego, Los Angeles, Denver, and Portland.
Home prices have peaked this cycle but one would not know that by looking at the raw numbers or the chart.
"The skyrocketing electricity prices are now exposing, for different reasons, the limitations of our current electricity market design," the European Commission president said on Monday while addressing the Bled Strategic Forum in Slovenia. "[The market] was developed under completely different circumstances and for completely different purposes. It is no longer fit for purpose.