Precious metals are apparently waking up. And here is where you can find the best deals.
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Call it luck or stellar crisis management. China, one of the world’s most indebted nations, has not experienced a full-blown financial crisis, yet. There were a few close calls. In 2019, the government had to seize a regional bank, for the first time in decades, to prevent a run on deposits. Last year, a wave of real estate developer defaults ended up with homebuyers...
“It’s not just from within. There is a run on the United States from certain nations and business interests around the world. Just like there was a run on banks after the collapse of Silicon Valley Bank, many nations are either thinking about — or actually proceeding with — transferring at least a portion of their allegiance, assets and commitments from the ‘Bank of the U.S.’ to the ‘Bank of China’ or elsewhere.”
Spotting trend changes is the key to economic forecasting. They don’t happen often. Most of the time, this year will be similar to last year. The pace varies but the overall trend continues… until it doesn’t.
Heritage Foundation economist Peter St Onge says China’s efforts to remove the U.S. dollar in trade would lead to ‘erosion in our national power and influence.’ He also discusses the strengthening ties between Brazil and China.
We have gone from just in time manufacturing to just in case hoarding. Or have we? If so, at what cost? And what about China?
Apr 17, 2023 - 08:25:13 PDT
Under a new utility proposal, monthly bills in California will include a fixed charge based on household income. The proposal is Marxist agenda.
What Would Happen if the Fed Caves to 4%-5% Core PCE Inflation, Gives up on 2%, as some Folks are Clamoring For?Apr 17, 2023 - 08:23:18 PDT
The economy would muddle through, but in the markets, all heck would break loose. Here’s why.
Apr 17, 2023 - 08:18:45 PDT
Note the rapid decline in office vacancies just prior to the financial crisis (often mislabeled as the subprime mortgage crisis). Then look at office vacancies after The Fed’s massive monetary experiment of setting rates to near zero and buying a ton of Treasuries, Agency MBS. etc. While San Francisco returned to pre-financial crisis levels of office vacancy, in general the office market never fully recovered.
I wish The Federal Reserve had created only tiny bubbles. But after Bernanke/Yellen’s zero interest rate policies (ZIRP) and Quantitative Sleazing (QE) for too long, we have a monstrous asset bubble in commercial real estate … that is starting to unravel as The Fed raises rates and shrinks their balance sheet.
Apr 17, 2023 - 08:15:31 PDT
Hand to mouth should be Biden’s Presidential re-election theme song. 70% Of Americans Are Financially Stressed, 58% Live Paycheck-To-Paycheck because America is living off their credit cards …
US yields have ongoing upside pressure from the debt-ceiling debate. Even if a one-year extension is achieved this year, as House Speaker Kevin McCarthy is reported to be proposing, that just creates a far greater problem in a presidential-election year.
They pile up in drawers. They’re taken or left on a whim at store counters. Vending machines and parking meters won’t accept them. And last year, they cost the US Treasury $100mn more to produce than they’re worth. Despite all this, the penny — America’s copper-plated one-cent coin — persists.
Economic sanctions imposed on Russia and other countries by the United States put the dollar's dominance at risk as targeted nations seek an alternative, Treasury Secretary Janet Yellen said today. "There is a risk when we use financial sanctions that are linked to the role of the dollar that over time it could undermine the hegemony of the dollar," Yellen said on CNN.
Some tune out bank and credit-card balances, lose track of their spending and rack up debt. Average credit-card debt rose 29% to $5,800 in March from a year earlier for millennials and increased 40% to $2,800 for Gen Z, Credit Karma said. Younger people were also more likely to have paid late fees or taken advances from their credit cards, a survey from NerdWallet found.
Could the US Face Same Retirement Riots That Are Plaguing France? Social Security’s Trust Funds?Apr 17, 2023 - 08:00:04 PDT
The US could face retirement riots like those plaguing France as Social Security's trust funds could be depleted as soon as 2033, some experts predict.
The question of when the US could default will come into sharp relief this week when the Treasury reveals how big its tax take is likely to be.
To sum it up for No. 700, our precious metals have had a significant run of late. From Gold’s year-to-date low of 1811 on 28 February, today at 2018 ’tis +11%. Similarly, for Silver, her year-to-date low was just back on 10 March at 19.95 and today at 25.47 she’s +28% higher: that’s in just 25 trading days! Brava Sister Silver! To be sure some lower prices may ensue, but hardly do we believe these rallies are through.
Gold rose but prices were off one-year highs hit last week, as mixed economic data prompted investors to reassess the Fed's interest rate hike trajectory.
Recession Risk Grows After Money Supply Shrinks At Fastest Pace Since Great DepressionApr 17, 2023 - 06:07:39 PDT
The U.S. money supply contracted for the third consecutive month, and is declining at the fastest pace since the Great Depression, new Federal Reserve data show.
The Bank of England is considering an overhaul of its deposit guarantee scheme, including boosting the amount covered for businesses and forcing banks to pre-fund the system to a greater extent to ensure faster access to cash when a lender collapses.