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Mortgage Rates Drop Below 3% for the First Time: Economists Say Rates Could Stay Low Through 2021Jul 16, 2020 - 10:41:34 PDT
At the beginning of the coronavirus pandemic, mortgage industry experts forecast that benchmark interest rates might fall, but wouldn’t drop below 3%. But...
Florida Unemployment Office, the ‘Poster Child’ of Delayed Benefits, Cuts 1,000 WorkersJul 16, 2020 - 10:13:55 PDT
Florida cut about a quarter of the customer service workers in its unemployment department, leading to fears of further delays in paying benefits even as the state's jobless figures increase.
Unemployed Americans Spent More With $600 Weekly Boost Than Before Pandemic; That's About To Go AwayJul 16, 2020 - 10:11:19 PDT
"Without the weekly bonus, he said his rent payments and wife’s medical bills will become impossible..."
Action In Markets Suggest Gold & Silver Don't Want To Move Higher Without First DecliningJuly 16, 2020
The outlook for the precious metals market is bearish, and the decline is likely to be major...
The Bank of England charted historical inflation data from the U.K. and seven other countries, including the U.S., to estimate the response of inflation to...
Fed’s Williams: Economy Is Facing More Disinflationary Pressure Than Inflationary PressureJul 16, 2020 - 09:12:32 PDT
"Now is not the time for the Fed to focus on exit strategies because we are in the middle of a difficult situation," NY Fed President John Williams said on Thursday.
In this interview I speak with Jeff Clark, Senior Precious Metals Analyst for Goldsilver.com
How he came to focus on precious metals may surprise you. We discuss the ramifications of the fiat monetary system. How long the FED can keep kicking the can down the road...
‘It’s going to collapse under its own weight’: The Fed's far-reaching rescue triggers waves of worry.
Bankers Make Billions From Fed Money Printing As Double Dip Recession Fears SurgeJul 16, 2020 - 08:10:22 PDT
"Goldman's earnings this quarter were too good..."
The Bank of Thailand plans to permit gold traders to apply for foreign currency deposits (FCDs) in preparation for gold trading in US dollars, an attempt at managing foreign exchange volatility.
The clouds are spreading and thickening, and the dawn sky is tinted an ominous red. This is a financial extinction event, and the Fed's pathetic shamans can't reverse history.
"Very strong gain on our two exchanges of 16,985 contracts despite gold's tiny loss in price."
The canary in the coal mine is the continued rise in the price of gold, nagging strength in the bond markets, the weakness of oil and the stubborn strength of the US dollar
“ETFs are telling a story about the longer term belief in gold,” said Ole Hansen, head of commodity strategy at Saxo Bank A/S. He predicts gold could test its record high of $1,920 in the coming months.
Global debt surged to a record $258 trillion in the first quarter of 2020 as economies around the world shut down to contain the coronavirus pandemic, and debt levels are continuing to rise, the Institute for International Finance said on Thursday in a report.
The Fed has bought trillions of dollars in Treasuries just to fix the bond market. It may need to buy a lot more to help repair the economy. A surge of new coronavirus cases is clouding the economic outlook in the U.S., and that’s likely to translate into pressure for more action...
Homebuilder Optimism Explodes Higher As Mortgage Rates Plunge To Record LowsJul 16, 2020 - 07:15:54 PDT
There's just one thing, while homebuilders are almost at euphoric levels, homebuyers aren't so convinced...
On a YoY basis, both the headline and GDP-driver Control Group are back into positive territory...
The economic consequences of the coronavirus-induced government economic shutdowns continue to pile up.According to one expert on eviction, between 20 million and 28 million Americans could face eviction between now and September. That compares to about 10 million evictions over a much longer period of time following the foreclosure crisis in 2008.
August Is Shaping Up to Be ‘Ugly’ if Stimulus, Extra Unemployment Runs Dry for MillionsJul 16, 2020 - 06:56:45 PDT
The Senate will start debating the contours of more coronavirus relief measures next week. That package is shaping up to be less generous than the CARES Act, and aid could take weeks to arrive.