The post-COVID inflation surge that was supposed to be “transitory” is looking a lot more permanent. On Friday, the Bureau of Economic Analysis Friday released data on Personal Consumption Expenditures (PCE), the Federal Reserve’s preferred inflation gauge.
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A prominent U.S. Senator just called the head of the nation’s central bank “dangerous.” Unfortunately, the true dangers of U.S. monetary and fiscal policy were lost on everyone involved. On Tuesday, Federal Reserve Chairman Jerome Powell testified before the Senate banking committee…
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It’s easy to forget that a crisis is brewing when it’s overseas. Yet to anyone familiar with the situation, the Evergrande housing crisis in China has all the makings of a repeat of the 2008 financial crisis.
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Washington DC politicians are busy cobbling together yet another bi-partisan bill to raise the federal borrowing limit. Congress imposed the debt ceiling on itself in 1917 – Democrats and Republicans have worked together to circumvent it ever since.
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A leader of the crypto revolution is borrowing dollars. Without any awareness of the irony, crypto promoters say that this validates crypto. That a crypto company borrowed dollars supposedly validates crypto. Think about it, take as long as you need.
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Evergrande, a real-estate colossus in China, is collapsing. Don’t expect the collapse to be contained to China. The global macro implications are huge. At some point in the near future, constant interventions by the Federal Reserve and Treasury won’t be able to stave off a major crisis.
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Credit risk out of China and debt ceiling drama in Washington are driving precious metals markets this week. Gold and silver attracted some significant safe-haven buying as equity markets succumbed to selling.
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America’s central bankers are tasked with impartial oversight over aspects of the American economy. But could these individuals be making decisions on interest rates and bailout operations based on what is best for their own personal investment portfolios?
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The gold and silver futures markets were designed to increase volatility and discourage physical ownership of precious metals, as revealed in 1970s-era disclosures. The futures markets have also created opportunities for manipulation.
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Time is running out on any possibility that the Social Security Trust will be able to provide the expected benefits to beneficiaries after 2033. That is a bitter pill that Americans will have to swallow in 12 years. But there are at least three spoonfuls of sugar that might help it go down (if you don’t choke).
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There is a pattern we see often in both metals. Price weakness tends to be driven by futures speculators liquidating positions. This means that the metal becomes scarcer. It stops going into the warehouse. Instead, it can begin coming out if it gets scarce enough.
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In a recent analysis, the World Gold Council commented that we are entering a commodities supercycle. Between higher inflation and shortages of basic materials expected for the foreseeable future, it’s not a difficult notion to entertain. And out of the various commodities, gold is once again emerging as a shoo-in for the top spot.
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In addition to the white metal’s growing uses in high-tech and alternative energy industries, some silver bulls are banking on rising bullion demand by retail investors and a possible reinvigoration of its use as currency…
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“Bond King” Bill Gross warns that stocks and bonds could become tantamount to garbage. Gross sees inflation, coupled with waning demand for Treasuries by foreign central banks, forcing bond yields to rise.
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How can you tell when a big economic bubble is forming? When Wall Street tells Main Street, ‘It’s not a bubble.’ The old joke goes: “How can you tell when a lawyer is lying? Their lips are moving.” Now there is a new joke, according to Charles Hugh Smith…
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The days of pensions, however, are pretty much over. Nearly every corporation rebelled against the uncertain, long-term costs associated with securing their former employees’ retirements. Instead, they argued for (and got) a different kind of employee retirement benefit…
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Wall Street stock brokers coined the phrase “Put 10% of your portfolio in gold and hope it doesn’t go up.” There’s a very good reason for this. When gold’s price is steady, or posting mild gains, that means there’s no market mayhem going on. Gold’s two previous all-time highs, in 2020 and 2011, both came during times of enormous global distress.
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A few recent articles bring to the public’s awareness that wealthy investors are preferring not to sell their assets, and thereby pay capital gains taxes. Instead, they borrow against them, on margin…
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Humans are emotional creatures and studies show most of us make poor choices when it comes to timing. If you are making a snap decision to sell (or buy) based upon a surge of either fear or greed, odds are you will regret it.
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One way to look at the price of gold, is that it dropped from its high around $1,900 in early June… Another way is to zoom out, and look at the big picture…
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Fed watchers found some hints about interest-rate tightening in the just-released FOMC’s July meeting minutes. That was all it took to rattle Wall Street. Stocks have since recovered some of the initial losses, but it looks like history is about to repeat.
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The markets are severely overvalued, according to both the Buffett Indicator and the Schiller P/E ratio. Taken together, these are a reliable indicator that Wall Street isn’t thinking clearly…
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I don’t believe that the inflation we’re seeing – especially in the U.S. – is in FedSpeak, “transitory.” The indications and real-world price-increase in so many things I want to buy, if they’re in stock, are growing, and unlikely to go back down anytime soon.
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The U.S. government’s nearly two-decade-long, multi-trillion-dollar “nation building” effort in Afghanistan may now have nothing to show for itself. Unsurprisingly, they didn’t see it coming. Central planners almost never do.
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Sometimes, bad luck can strike. But other times, a catastrophe comes from a series of bad decisions, each the reaction to the consequences of the previous one. On August 15, 1971, President Nixon decreed that the US dollar would no longer be redeemable for the gold owed, even to foreign governments
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The Federal Reserve has targeted a 2% inflation rate for years, as though it’s a holy grail. As though 2% inflation was an economic panacea that would perfectly balance employment, business investment and bank lending. Recently, the Fed has loosened the reins on inflation and let it charge ahead. Quite a bit…
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Most gyms have a punching bag in the corner. When someone feels frustrated or wants to show off, he can hit it. The gold standard is the punching bag in the economists’ gym. In an InsideSources op-ed, David Beckworth and Patrick Horan argue, “A new gold standard would do much more harm than good.”
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A mysterious $4 billion sell order – suspiciously placed during the most illiquid time of the day – caused a waterfall $100 decline in gold prices while silver dropped in tandem by over $1.30 per ounce. Among the major issues investors are eyeing this month is the debate over the federal debt…
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