Gold has all the potential to go unprecedentedly high. But silver will be gold on
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A cube made from 186 kilograms of pure 24-karat gold was constructed and dropped in the middle of the park. German artist Niclas Castello designed the cube, and although the artwork is not for sale, it’s valued at about $11.7 million.
Just as the Fed is between a rock and a hard place, regarding raising interest rates to deal with inflation, the US consumer is also in an unenviable position.
U.S. Corporate-Credit Risk at Highest Since November 2020 as Stocks PlungeFeb 3, 2022 - 12:19:57 PST
They’re far from panicking, but it appears credit investors are getting more cautious.
U.S. natural gas future prices skyrocketed 72% on Thursday on forecasts of colder weather. It was the sharpest one-day climb for the commodity since the contract launched in 1990, CME Group data confirmed.
U.S. oil crossed above $90 on Thursday for the first time since 2014 as demand for petroleum products surges while supply remains constrained.
Asset prices soaring to ridiculous levels, well beyond anything regarding true, intrinsic values creates a bubble. Eventually things come crashing down. Those holding overpriced assets lose a lot of money and the ripple effect can cause economic hardship to many others.
"The Fed already lost credibility by missing its stated inflation target, and the nomination of partisan actors such as Cook would further throttle its credibility." ~
All this new money sloshing around the economy makes money we have less valuable. You notice the price increases, but you may not notice the damage inflation does to your savings.
U.S. President Joe Biden's nominees to the Federal Reserve Board came out swinging against high inflation on Wednesday, saying rising prices pose a threat to economic growth and stopping that trend is a paramount task for the central bank.
Turkey’s annual inflation came in at nearly 49% on Thursday, hitting a nearly 20-year high and further eroding people’s ability to buy even basic things like food .
The head of the European Central Bank said record inflation could linger for “longer than expected” and appeared to open the door at least a crack for an interest rate increase this year.
Economic data had their own drama for once yesterday. Eurozone inflation was far too high at 5.1% y/y vs. 4.4% expected, while the US ADP employment number was far too low at -301K vs. 180K expected. **S-T-A-G-F-L-A-T-I-O-N**. The only argument is how much stag and how much flation.
Moreover, there are still 60 stocks in the S&P 500 Index that trade at more than 10-times sales. During the depths of the Dotcom bust (almost exactly twenty years ago) after witnessing his own stock price plunge by more than 90%...
Since the global financial crisis, and particularly during the COVID-19 pandemic, fiscal and monetary policymakers have operated as if there are no tradeoffs to their expansionary policy programs. Now that economic conditions have changed, they may soon have to relearn old lessons the hard way.
In other words, a self-reinforcing inflation cycle is building. We now face the greatest potential for a sustained rise in inflation over decades.
Nicolai Tangen, the former hedge fund owner who now runs the world’s biggest sovereign wealth fund for Norway, told Bloomberg Television last week that inflation “will remain high for a long time.” Given that backdrop, he said the $1.3 trillion fund will struggle to match its historical gains.
But the low-rate era is unlikely to come to a permanent end.
U.S. lenders issued more credit cards than ever last year, with a growing share of them going to consumers with lower credit scores.
After surging 1.6% MoM in November, analysts expected US Factory Orders to drop 0.4% MoM in January (and the weakness in ISM/PMI data seemed to support that), and they were spot on.
Nearly 9 million people said they did not work in the first few weeks of January because they were sick with coronavirus or caring for someone who was, according to a Census bureau survey. Economists are dimming their outlooks for job growth in January, with more forecasting that the U.S. economy lost jobs as...