Precious metals are apparently waking up. And here is where you can find the best deals.
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The U.S. is recording at least 70,200 new Covid-19 cases and at least 1,900 virus-related deaths each day, based on a seven-day average using JHU data.
Is Jerome Powell the most dovish Fed chair yet?Peter Schiff said he wasn't when he first took the position and was raising interest rates. But he is now. The minutes from the January FOMC meeting released last week bear this out."We're all doves now. That is the problem, the Fed gets progressively more dovish," Peter said in a recent podcast.
This is a Trade Update for Freeport-McMoRan that I believe you will find quite interesting. There's this notion that we are heading towards a new Commodity Bull Market and Inflation. However, some interesting data shows that we are in a "Liquidity Trap," which suggests deflation ahead. So, which is it?
Gold Surges Above $1,800 to Settle at Highest in Over a Week as Rising Rates Rattle Stocks: MWFeb 22, 2021 - 12:28:41 PST
“There is a rising conviction that gold could soon be needed as a hedge against an eventual overshoot in inflation and it is worth paying a higher price to have a solid insurance in hand.”
House Panel Advances $1.9 Trillion COVID Relief Bill as Democrats Move Toward Passage This WeekFeb 22, 2021 - 12:26:47 PST
The chamber’s Budget Committee advanced the bill in a 19-16 vote as Democrats rush to beat a March 14 deadline to extend key unemployment programs. The party is trying to pass the proposal through budget reconciliation, which allows it to get through the evenly split Senate without Republican support.
How Fed Economists See Surging Freight Rates Lifting Inflation: BloombergFeb 22, 2021 - 12:10:38 PST
Federal Reserve Chair Jerome Powell is going to face some big questions from Congress this week about the outlook for inflation, like: Will unprecedented stimulus eventually come back to haunt the U.S. economy in the form of higher costs for American consumers?
Treasury Secretary Janet Yellen signaled the Biden administration supports research into the viability of a digital dollar, a shift from the lack of enthusiasm shown for the concept under her predecessor, Steven Mnuchin.“It makes sense for central banks to be looking at” issuing sovereign digital currencies,...
The International Monetary Fund (IMF) estimates that central bank currencies will confront major obstacles in a rapidly digitizing financial system.
For over a decade, an extraordinary degree of monetary stimulus failed to generate growth in the industrialized economies. Excess capacity has built up in some sectors, creating a growing number of zombie companies. Overall, investment has been insufficient to absorb global savings. This “secular stagnation” did not respond to massive monetary and fiscal stimulus.
The world's debt-to-GDP ratio rose to 356% in 2020, a new report from the Institute of International Finance finds, up 35 percentage points from where it stood in 2019, as countries saw their economies shrink and issued an ocean of debt to stay afloat.
This madness is now global, so next up: global depression. The story of the past year hasn't changed: blowing an even bigger speculative asset bubble is the sure cure; the latest "fix" to the pandemic will make it go away forever and ever, and everything that was broken before the pandemic will magically be restored by the magic of ever larger and more precarious speculative asset bubbles.
Feb 22, 2021 - 11:08:18 PST
Speech by Christine Lagarde, President of the ECB, at the opening plenary session of the European Parliamentary Week 2021 in virtual format
Democrats began the final push for President Joe Biden’s $1.9 trillion economic-relief bill this week, dropping any pretense of bipartisanship to quickly pass the package before an earlier round of benefits runs out.
Treasury Secretary Janet Yellen issued a warning Monday about the dangers that bitcoin poses both to investors and the public.
Market nervousness growing over Powell's testimony to Congress this weekFeb 22, 2021 - 10:51:52 PST
Rising bond yields and accompanying inflation fears are adding a level of drama to Powell's appearance.
Ray Dalio broke out his “bubble indicator” on Monday and found that about 5% of the top 1,000 companies in the U.S. were priced at what he called unsustainable levels.“I’ve seen a lot of bubbles in my time and I have studied even more in history,”...
In 2001, Warren Buffett famously described the stock market capitalization-to-GDP ratio as “the best single measure of where valuations stand at any given moment.”
"It's A National Crisis": Officials Admit Billions Lost In "Veritable Tsunami" Of Pandemic Aid FraudFeb 22, 2021 - 10:15:28 PST
While lawmakers debate President Biden's $1.9 trillion economic rescue package, fraud cases could surge once more - it could take quarters, if not years, to figure out some of these complex fraud cases. Maybe "helicopter dropping" trillions of dollars on the economy is not an effective measure after all.
So babble on, Babble-On 7; it won't change anything. The forces in motion are like tides, and you can't talk the tide into reversing.
A look at the many obstacles that lie in the way of the economy creating 10 million new jobs by the beginning of next year.