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Tech Bust Takes Next Step: Layoffs & Hiring Freezes, Dotcom Bust 2 Has Begun. Only BiggerJun 2, 2022 - 07:58:10 PDT
The plunge in so-called tech and social media stocks, especially of companies that are losing money and burning cash, has been spectacular. It started in February last year, with stock after stock getting taking down by 70%, 80%, and 90%, SPACs and recent IPOs in particular.
Bear in mind this is April data, meaning all of May's maelstrom is yet to hit.
This Comprehensive Research on the Gold/Silver Ratio Gives Us a Big Fat Hint About What’s AheadJun 2, 2022 - 07:30:57 PDT
I know silver investors are discouraged. The price action doesn’t reflect what we think it should, particularly when inflation’s been spiking. There are valid reasons for the lag in price—a soaring US dollar, a perceived drop in industrial demand from recession or stagflation fears, a crashing stock market forcing investors to liquidate other holdings—but those don’t make us feel any better.
Gold is holding on, supported by economic uncertainty triggered by the war in Ukraine and monetary policy tightening
Jun 2, 2022 - 06:07:39 PDT
“I think that we might be reaching a point where people are so unhappy with the way the Fed has evolved into having such control over the economy, that they may be ready, now, to consider something along the lines of what was proposed and passed in the House in 2015, which was to have a monetary commission to really evaluate alternative monetary regimes,” Shelton averred.
Jun 2, 2022 - 06:05:56 PDT
Increased federal spending under President Joe Biden has created a dangerous environment that resulted in growth that can’t support the cost of the national debt, say analysts and lawmakers.
Gov. Gavin Newsom proposed a plan in March that would give a $400 rebate in the form of a debit card per registered vehicle owner, and up to $800 for drivers with more than one vehicle.
President Joe Biden said on Wednesday it was unlikely his administration would be able to bring down the cost of inflation, including gas and food prices, any time soon.
The longer-term structural issue is the fact that we grew the money supply by six and a half trillion dollars.
The global elites left Davos last week after grappling with solutions to the profound crises facing the world. They left as they arrived, unaware that the crises are entirely of their own making.
Higher inflation could force Fed action, leading to a 'deeper recession’...
The new norm for the stock market after a wild May, according to top strategist Liz Ann Sonders at Charles Schwab, may bear market rallies: i.e., large rallies followed by larger drops that keep markets in a broader decline.
Chinese banks are facing growing pressure to support cash-strapped developers after months of pleas by regulators failed to boost lending to the industry.
Russia was judged to have breached the terms on a bond after missing a $1.9 million interest payment and triggering an insurance payout potentially worth billions of dollars.
The European Central Bank must pare back stimulus as inflation is too strong and too broad, Governing Council member Francois Villeroy de Galhau said.
Michael Hartnett's team over at Bank of America Global Research noted their proprietary Bull & Bear indicator swung into contrarian buy mode a few weeks ago. But Hartnett still leans bearish, arguing that U.S. stocks are "vulnerable" to a bear market rally and that traders should “sell any rips."
Jun 2, 2022 - 05:26:10 PDT
Simply unaffordable! President Biden met with Federal Reserve Chairman Powell to discuss how to control the inflation that is crushing the middle class and low-wage workers. Here is a good example …
With various sentiment measures of employment sagging notably, and ISM Manufacturing employment dropping into contraction, it was perhaps surprising that analysts expected ADP to show a 300k job gain May (up from the 247k in April). However, the analysts were wrong, very wrong. May showed an addition aof only 128k jobs and April was revised down to 202k addition.
Average people are worried about the economy. Consumer confidence has been falling. People undoubtedly feel the squeeze of inflation. But despite their general discontent, most people don't seem to think a severe economic downturn is imminent — despite many warning signs.Why not?
Demand for American Gold Eagles exploded in May according to the latest data from the US Mint.