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Number of Americans Planning to Buy a New Car Collapses to Five-Year LowJul 27, 2018 - 08:14:06 PDT
Because when wages your are stagnant, you're tapped out on credit cards, you're staring at tens of thousands in student loans, all your interest payments are rising with rates...not to mention the 95M of the 120M able-bodied, working-age unemployed who aren't even counted in unemployment statistics because they've been unemployed so long...just how strong is the economy again?
Presto Chango: BEA Magicians Revise Past US GDP Up by $1T by Issuing Press ReleaseJul 27, 2018 - 07:28:37 PDT
Well, that's one way to do it. By going back and revising past GDP numbers (which puts a glaring spotlight on just how meaningless these 'official government' numbers are to begin with) to the tune of a nice, round, $1T, the US's official debt-to-GDP number suddenly looks better the moment that almighty official press release hits the wire.
Jul 27, 2018 - 06:27:12 PDT
It is the rough equivalent of picking up a discarded lottery ticket off the ground and finding you've just won $65,000. Optimism is running high as amateur gold panners race to Scotland to see if they can sift through tons of river rock to duplicate a recent enthusiast's golden windfall.
Here's a report on the GDP release for the second quarter, and the reaction in gold, silver, and the US dollar, all still in the pre-market...
Jul 27, 2018 - 06:07:26 PDT
Because 4.1% GDP driven by short-term soybean stockpiles are the opposite of sustainable business growth. University of Michigan Sentiment, Philly Fed, and Empire expected capital expenditures all tell the same tale: business leaders say the economy is weak and expectations are grim.
If I told you there would be an indefinite 50% tariff placed on groceries next month, would you buy all the non-perishables you could right now in order to avoid unnecessarily paying 50% more for them over coming months? Ladies and gentlemen, in a Chinese-soybean-stockpile nutshell, there's your 4.1% Q2 2018 GDP.
Jul 27, 2018 - 05:34:55 PDT
Far from the all-losers, no-winners fray that is the trade-war-becoming-currency-war, nations around the world that are not the United States move forward with ventures to enhance and streamline free trade. That one of these initiatives does so regarding gold, with an allied Xi and Putin at center stage, is no coincidence.
Golden Mystery: China Hasn't Updated Gold Reserve Holdings Number Since 2016Jul 27, 2018 - 05:23:06 PDT
As Russia relentlessly and voraciously adds to its official gold reserves and the Chinese have launched the petro-yuan, a third obvious and major piece of the puzzle remains a question mark. US-dollar trade dominance is clearly at risk, and given the aforementioned aggressive measures these countries have made on that front, it's likely China has been making significant additions to its own gold hoard.
Last month, we reported that the global yield curve inverted, signaling the possibility of a looming recession. While narrowing to levels not seen since right before the 2008 financial crisis, the yield curve has not inverted in the US. In his most recent podcast, Peter Schiff said he doesn't think it's going to happen. He said we may even see a steepening yield curve in the coming months. But this is not because there's not going to be a recession.
Analysts expect demand for gold in India to surge in the second half of the year thanks to a good outlook for farmers.A good start to the rainy season along with higher minimum support (MSP) for summer crops should boost the gold trade, according to a report in the Economic Times of India. Analysts expect a 25% increase in gold demand compared to the second half of last year.
Over 40% of S&P 500 Companies Reporting Earnings Say Tariffs Are Hurting BusinessJul 26, 2018 - 12:03:14 PDT
Harley Davidson, Coca-Cola, Union Pacific, Honeywell, Whirlpool, 3M, General Electric, Nucor, Hasbro, CSX, Comerica, Prologis, W.W. Grainger, Kinder Morgan, Danaher, the Travelers Company, Dover, Genuine Parts, PPG Industries, Intuitive Surgical, Cintas, Stanley Black & Decker, Illinois Tool Works, UTX, TE Connectivity...
Chris Powell: Using Gold The US Can Take Away China's Yuan Devaluation And Trade AdvantageJuly 26, 2018
President Trump could use gold as a weapon against both the Fed and China. Here's how...
Have Snorkel, Sort Gravel: UK's Largest-Ever Gold Nugget Found by Amateur ProspectorJul 26, 2018 - 11:36:35 PDT
And the lucky guy still might not even get to keep it: "Found gold and silver is usually classed as belonging to the crown, and it is not clear whether the finder has received permission to remove it."
You want to talk "rigged"? This is what enormous short-term debt spending *can* do. Rig short-term numbers. GDP doesn't care how much debt it took to buy higher GDP growth (and it now takes an appalling $3.71 in new debt to create $1 in new economic growth), it just reflects 3 months of growth, regardless of where it came from.
Facebook Crushed: Largest Single-Day Market Cap Loss in Stock Market HistoryJul 26, 2018 - 09:51:54 PDT
And it's not even close, as the stock sheds ~$120B in total value. No word on if the SEC is going to look into Zuckerberg and other insiders dumping stock at a ridiculously frenetic pace — to the tune of $4.1B in sales — just prior to these horrific earnings forecasts.
"In this world of bat-shit-crazy central bank policies, a smidgen of the asset that has maintained its status as a store of value for..."
Jeff Clark Interview: "Will Your Nest Egg Suffer Collateral Damage In A Trade War?"Jul 26, 2018 - 07:33:00 PDT
GoldSilver's Jeff Clark joins Dennis Miller for a discussion on Trade War 101 and how this most recent governmental interference in free markets might yield a variety of unintended consequences.
Right Instinct, Wrong Refuge: Stock Bubble Outflows Swapping Into Bond BubbleJul 26, 2018 - 06:28:24 PDT
With tariffs the catalyst, long-term mutual fund and ETF equity outflows were to the tune of $20B+ in June alone, and many sought haven in misperception, moving to an equally overvalued bond market. Until true crisis, "safety" and "risk" are relative concepts. Gold and silver, undervalued and the ultimate safe havens, patiently wait.
Hussman: Current S&P 500 Price-to-Revenue of 2.4 Above "Offensively Extreme" 2.2 in 2000Jul 26, 2018 - 06:19:54 PDT
"As I did in 2000 and 2007, I mean these figures seriously – not as hyperbole, but based on outcomes that would be historically standard, normal, and commonplace given current valuation extremes. At present, we project market losses over the completion of this cycle on the order of -64% for the S&P 500, -57% for the Nasdaq 100, -68% for the Russell 2000, and nearly -69% for the DJIA."
Corporate Tax Receipts as Percent of GDP Near 75-Year Low, Budget Deficit Over $1TJul 26, 2018 - 06:08:48 PDT
The quintessential "Something's gotta give" scenario. All the hot air and empty promises in the world amount to nothing in the face of wildly accelerating federal spending and drastically reduced federal income. You can get away with it until you can't, and then it's too late.