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Global shares were mostly lower Thursday as investors watched for fresh signs of inflation, including soaring crude oil prices. European shares declined in early trading. France's CAC 40 slipped 0.7% in early trading to 6,404.59, while Germany's DAX dropped 0.9% to 14,309.79.
Top Economist Mohamed El-Erian Says the Market Rally Isn’t a Buy Signal As Stagflation LoomsJun 9, 2022 - 05:26:16 PDT
“Everybody now acknowledges that our baseline is stagflation,” El-Erian said, warning investors to be cautious as a recession is more likely than a return to normal.
Lumber futures slid to the cheapest since September as rising interest rates put a damper on the housing market.
ECB Confirms End Of QE Era, Signals Rate-Hikes, Slashes Growth Outlook, Hikes Inflation ForecastJun 9, 2022 - 05:18:50 PDT
Amid increasingly fragmented European bond markets, The ECB - as expected and well telegraphed for months - officially ended its bond-purchasing scheme and signaled lift-off on its interest rates, after eight years of NIRP (currently at -50bps).
Everybody was thrilled to get stimulus checks in the mail during the COVID-19 pandemic. "It's free money!" many exclaimed. But nothing in life is free. This includes "free" things handed out by the government.So today, you're paying for those stimmy checks and the government pandemic spending spree.
There are a number of signals that the US economy is getting weaker even as inflation gets stronger.In other words, we are hurtling toward stagflation.
Yes... another U.S. Nuclear plant bit the dust last month as the Palisades Nuclear Power Plant in Michigan permanently shut down after more than 50 years of operation. Also, I will be a part of a Palisades Radio Twitter Spaces chat with Doomberg, and The Market Sniper on Friday at 1 pm EST, May 10th...
“Holy Grail” of Shipwrecks off Colombia Discovered With “200 Tons of Gold & Silver, Worth $Billion’sJun 8, 2022 - 13:16:25 PDT
The story behind why San Jose has been considered the "holy grail" of shipwrecks is that it was loaded up with precious metals from South America and headed to Europe when the British Navy sank it in 1708. CBS News said experts estimate the treasure to be "200 tons of gold, silver, and emeralds."
The gold extracted from Saudi mines is refined in Switzerland, which implies a very high cost for the mines, amounting to nearly 35% of their profits, CNBC Arabia TV reported, citing Karim Al Enezi, Head of the Precious Metals & Gemtones National Committee at the Saudi Council of Chambers.
US Inflation Since 1970 to 2022 Is 651%, Gold in US Dollar Up 5,130%, Silver in US Dollar Up 1,068%Jun 8, 2022 - 12:57:17 PDT
Say again gold and silver prices have not outperformed inflation with a straight face (Jun. 3, 2022).
#Gold vs US Money Supply (M1, M2, M3) Percentage Growth Since 1970 (Jun. 3, 2022) - via http://goldchartsrus.com
US Debt vs Debt Limit vs #Gold Since 1971 Collapse of Dollar-Gold Fix (Jun. 7, 2022) - via http://goldchartsrus.com
$30 Million in Missing Gold Bars - The Inside Story of a Precious Metal Ponzi Scheme: MWJun 8, 2022 - 12:49:21 PDT
Ross Hansen and his girlfriend were convicted of stealing millions from thousands of elderly investors in an elaborate gold and silver fraud
The world economy will pay a “hefty price” for the war in Ukraine encompassing weaker growth, stronger inflation and potentially long-lasting damage to supply chains, the OECD said.
...when you're looking at what's happening on the street we're running into, and many businesses, where this whole sugar high of the economy is about to end. So a lot of businesses are seeing months now that aren't as good as what we had a year ago, and that's just the beginning of it.
No, You’re Not Imagining It: It’s Dubbed “Shrinkflation,” and It’s Accelerating WorldwideJun 8, 2022 - 11:47:14 PDT
It’s the inflation you’re not supposed to see. From toilet paper to yogurt and coffee to corn chips, manufacturers are quietly shrinking package sizes without lowering prices. It’s dubbed “shrinkflation,” and it’s accelerating worldwide.
U.S. officials aim to keep Russian oil flowing into the global market to hold down prices and avoid a spike that could cause a worldwide recession, Yellen said. "But absolutely the objective is to limit the revenue going to Russia," she told a Senate committee on June 7.
Oil prices haven’t peaked yet because Chinese demand has yet to return to normal, said the energy minister from key OPEC member the United Arab Emirates.
As I line up my move from Fairfax VA to Columbus OH, I am getting a variety of quotes from moving companies. And wow! The cost of moving using a national moving company for a 4 bedroom house is $15,000 to $20,500. That includes International, North American and Bekins.