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Biden Casually Says Food Shortage "Going To Be Real" As Necessary "Price" Of Anti-Russia SanctionsMar 25, 2022 - 05:33:48 PDT
Nothing to see here... only the President of the United States speaking at an emergency summit of NATO heads making somewhat overly casual sounding references regarding likely massive energy and food shortages... "It’s going to be real," Biden said at a news conference in Brussels. "The price of the sanctions is not just imposed upon Russia. It’s imposed upon an awful lot of countries as well, including European countries and our country as well."
The Fed threw a pretty weak first punch at inflation with a quarter-point interest rate hike last week. But Fed Chair Jerome Powell followed up with some tough talk this week. The question is what will he do when the economy punches him in the face? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about Powell's attempt to bully inflation and if it might backfire.
Gold prices rose to more than a one-week high on Thursday as its safe-haven appeal was lifted by concerns over soaring inflation and uncertainty surrounding the war in Ukraine.
Gold/silver ratio settled below the 77 level and is trying to settle below the next support at 76.50. In case this attempt is successful, gold/silver ratio will move towards the 76 level, which will be bullish for silver.
Last week, the U.S. Mint announced that it would not strike 2022-dated Morgan and Peace silver dollars as it was experiencing difficulty in coming up with an adequate supply of the silver planchets.
A follow-up from yesterday's note with further thoughts around CB Gold and exploring some “what-if” scenarios that are both fun but also informative. It is well known that CB flows are historically very opaque (besides the monthly stats as reported by the IMF/WGC), but there have a been a few questions around how/what can be done by this sector that’s worth considering.
As discussions regarding front-loading interest rate hikes continue to captivate markets, Marketgauge.com Partner and Director of Trading Research & Education Michele Schneider joins Yahoo Finance Live to weigh in on the Fed and the recent decision to raise rates.
Mar 24, 2022 - 12:10:57 PDT
Despite inflation running at a 40-year high, the Biden administration is pushing ahead with plans to hike wages for federal contractors—effectively undoing a Reagan-era policy that was implemented to help curb inflation.
Mar 24, 2022 - 11:54:50 PDT
As someone who has watched trading screens for the past 36 years, it’s pretty easy to spot a fake market. As the charts below indicate, there is an invisible hand (or hands) pushing this stock market up when it should be plunging. The likely suspects are U.S. Treasury Secretary Janet Yellen’s Plunge Protection Team, known as the Exchange Stabilization Fund; foreign central banks...
Few people today ask the most important question about the conflict between Russia and Ukraine. Many people want America to stay out of the fight, but even they don’t ask the vital question. Why does the world face a crisis today? Why has a border dispute between Russia and Ukraine escalated to the point where people fear nuclear war?
There is an active, influential, and well-paid minority of pundits and politicians in America who apparently believe that escalating conflict between nuclear powers—and even nuclear war itself—is not really that big a deal.
The United States will probably enter a recession if oil prices continue to soar and surpass $200 a barrel, Goldman Sachs chief economist Jan Hatzius said on Thursday.
The unprecedented sanctions imposed on Russia have exacerbated global economic uncertainty and potentially derailed the post-pandemic recovery. The world, still grappling with the fallout from the US-China trade war and COVID-19, now faces its third policy-induced economic crisis in quick succession.
Mar 24, 2022 - 11:33:18 PDT
President Biden has attended an emergency NATO meeting in Brussels where the member countries have pledged to get more aggressive toward Russia rather than look for means of de-escalation. More troops, more weapons, more interference. All this for a Non-NATO country.
There’s another reason the bond market doubts that rates can rise too much: $30 trillion. That’s the total U.S. public debt outstanding, which has swelled from around $10 trillion at the time of the financial crisis back in 2008 amid historically low borrowing costs. A surge in rates would make that massive pile of borrowings much more costly for the government to service, potentially causing what is known as a debt spiral.
Mar 24, 2022 - 08:43:48 PDT
Agents of the Internal Revenue Service (IRS) investigated 660 cases of alleged fraud connected to COVID-19 stimulus funds and found more than $1.8 billion over the past two years, according to investigational data made public on Wednesday.
Mar 24, 2022 - 08:17:05 PDT
In 2016, the city of Los Angeles had 28,464 Homeless. It passed HHH authorizing $1.2 billion to tackle the problem. Let's check in on the progress.
Inventory of New Houses Piles Up to Highest since 2008. Sales & Prices DropMar 24, 2022 - 08:16:23 PDT
Buyers hobbled by spike in mortgage rates and sky-high prices. Builders hobbled by shortages and worst spike in costs ever recorded.
Mar 24, 2022 - 08:10:19 PDT
The US Treasury 10Y-5Y curve (aka, the belly of the Treasury beast) has inverted.
Mar 24, 2022 - 08:07:05 PDT
Overnight, the US Treasury yield rose to 2.38% as the number of forecast Fed rate hikes rose to 8.211. So, enjoy “low” rates while you can.