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Us Existing Home Sales: Suffer Worse Than the Worst Drop During the Great Financial CrisisJan 20, 2023 - 08:10:08 PST
US existing home sales dropped for the 11th straight month in December (-1.5% MoM - slightly less than expected thanks to downward revisions of previous months), leading to a record 34% drop year-over-year (worse than the worst drop during the Great Financial Crisis)...
The economic law that honest exchange demands only things of real value as currency cannot be repealed. The chaos that one day will ensue from our 35-year experiment with worldwide fiat money will require a return to money of real value. We will know that day is approaching when oil-producing countries demand gold, or its equivalent, for their oil rather than dollars or Euros. The sooner the better.
Gold's estimated market cap is $12.1 trillion -- BRICS are estimated to hold over 80% of this $12.1 trillion in gold. India (the citizens, not the government) are the largest collective owners..
Jan 20, 2023 - 07:24:51 PST
The adoption of a commodity-backed currencies by the Global South could upend the US dollar’s dominance and level the playing field in international trade.
Davos Attendee Says 'Quiet Part Out Loud': Agenda Is To Create A "New World Order"Jan 20, 2023 - 07:23:03 PST
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
Monetary Policy. Is The Fed Trying To Wean Markets Off Of It?: Lance RobertsJan 20, 2023 - 07:14:41 PST
Is the Fed trying to wean the markets off of a decade of continued monetary interventions? If so, what does that mean for future returns?
“The fact that gold has been able to make such large gains, to now be trading close to its highest level since April, even though another rate hike is near certain when the Fed next meets, continues to surprise. Gold really has caught a fair wind and is sailing ever higher on it,” said Rupert Rowling, market analyst at Kinesis Money, in a note.
More Rotting Assets Are Lurking in the Shadows of the Financial System: MWJan 20, 2023 - 05:57:23 PST
A credit boom by nontraditional lenders has left the economy with too much debt, risking financial instability, Here's how policy makers should react.
US Market Watchers Are Fretting Over the Biggest January Options Expiry in a DecadeJan 20, 2023 - 05:56:24 PST
Market watchers on Wall Street attribute this week’s stock selloff to the insidious threat of recession. Yet derivatives traders see a less ominous foe: the mass expiration of options on Friday — the biggest January event in a decade.
Japan's core consumer prices in December rose 4.0% from a year earlier, double the central bank's 2% target, hitting a fresh 41-year high and keeping alive market expectations the central bank could phase out ultra-low interest rates. But analysts are divided on whether the Bank of Japan (BOJ) could raise rates this year, due to uncertainty on whether wages will increase enough...
Forget Inflation, Jefferies Says to Watch Out for a ‘Disinflation Era’ Like the Early 1980sJan 20, 2023 - 05:44:25 PST
When former Fed Chair Paul Volcker hiked interest rates to quash inflation in the early 80s, a recession and disinflation followed. Jefferies sees a similar fate for the economy this year.
Former US Treasury Secretary Larry Summers Warns of 1970S Crisis if Central Banks Relent on RatesJan 20, 2023 - 05:43:00 PST
(Bloomberg) -- Going soft on inflation will plunge economies back into the recessionary depths of the 1970s and have “adverse effect on working people everywhere,” former US Treasury Secretary Larry Summers warned.Most Read from BloombergMore Young Americans Are Dying, But Not From VaccinesGoogle to Cut 12,000 Jobs in 6% Slash to Global WorkforceHolmes Should Be in Prison, Not $13,000-a-Month Estate, US SaysNew Zealand Prime Minister Ardern Announces Shock ResignationTreasury Taps Retirement Fun
The Trillion-Dollar Coin Again! Would It Buy Time to Resolve the Debt Ceiling Debate?Jan 20, 2023 - 05:37:01 PST
It’s not a new idea. It’s been around since the 1990s, and was floated last year when the country was once again facing the prospect of running out of money to pay its bills. But is it a good idea?
The Treasury Department is beginning the use of special measures to avoid a US payments default, after the federal debt limit was reached Thursday.
The US Government Hit Its $31.4 Trillion Debt Ceiling — Triggering Fears of a Nasty FalloutJan 20, 2023 - 05:34:16 PST
The U.S. officially hit its $31.4 trillion debt ceiling on Thursday - launching a ticking time bomb toward a potentially “calamitous” debt default.
Volatility in the euro has calmed down after a tumultuous 2022, sliding at the fastest pace ever. That’s leading some currency players to think it’s worth starting to bet on greater swings.
Bank of Japan Governor Haruhiko Kuroda said on Friday the central bank will continue its current "extremely accommodative" monetary policy to achieve its 2% inflation target in a stable, sustainable manner.
Federal Reserve officials, heartened by an inflation slowdown, are poised to slow the pace of their interest-rate hikes for a second straight meeting and debate how much more they need to tighten to get prices under control.
Crypto lender Genesis filed for bankruptcy protection on Friday as the fallout continues from last year's collapse in crypto prices and resulting failure of several firms in the industry.
Google's parent Alphabet Inc said on Friday it is cutting about 12,000 jobs, or 6% of its workforce, as the technology sector reels from layoffs and companies stake their futures on artificial intelligence (AI). Alphabet's shares rose almost 4% in pre-market trading.