And Why the Media Is Desperately Hiding the Truth About the Economy? The idea that the bad news has ended is a dangerous illusion to support with your savings (“The Fed will pivot, rates will drop, stocks will surge and inflation will go away – better buy now!”).
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Americans have been relying on credit for some time to do their spending. And based on data recently compiled by the Federal Reserve Bank of New York, they seem to be relying on it more than ever.
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Stagflation is coming – and it could make the 1970s look like a walk in the park. As you’ve probably noticed, I expect a recession next year, and I’m not alone, as this has become the baseline scenario for many financial institutions and analysts
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We’ve been reporting on the likelihood that Social Security will suffer from a series of setbacks in the 2030s for quite some time. Now, the Social Security Trustees are beginning to confirm the fears we’ve expressed since 2019. In this year’s report, they summarized the main problem…
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Numerous analysts have said that commodities crashing is a kind of necessary ingredient in the current market fiasco – but just as gold was seemingly left out of massive gains that other commodities experienced, it’s likely to be one of the very few commodities not falling in the kind of recessionary environment we’re anticipating.
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Prices could remain elevated well after acutely high inflation subsides. One report says that inflation above the Federal Reserve’s 2% target could be with us for another decade
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Bitcoin has potential, but not as a substitute for gold. And not as a government-regulated get-rich-quick asset for people to gamble on in Wall Street’s rigged casinos…
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This disaster is sad because it taints an entire industry that was at first, built upon the premise of providing an alternative to centrally planned money and credit. That would be the one thing cryptobugs have in common with goldbugs – they both agree there needs to be a monetary alternative to fiat currencies.
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Inflation is still orders of magnitude too high, and not declining appreciably. (Should CPI continue to come in 0.2% lower every month, we’re still looking at over two and a half years of prices rising faster than the Fed’s targeted rate.)
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Gold’s $100+ rise to $1,760 from $1,650 last week wasn’t an intraday price move, but it feels so abrupt and rapid. And every time gold’s price surges like this, we expect there to be some crisis or calamity. After all, it was gold’s biggest weekly gain in 30 months. Remember what happened 30 months ago?
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While investors continue to await a possible Federal Reserve pivot toward monetary easing, the pivot has already occurred in major asset markets, including precious metals. Last week was indeed pivotal for multiple asset classes.
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We are living through an economic crisis that will earn an entire chapter in introductory economics textbooks in the future… As of September, 63% of Americans were living paycheck to paycheck, according to a recent LendingClub report — near the 64% historic high hit in March.
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Central banks bought a record amount of gold last quarter as they diversified foreign-currency reserves, with a large chunk of the purchases coming from as-yet unknown buyers. The official sector has consistently been one of the main pillars of support for gold prices for more than a decade.
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Currency traders may be looking ahead – specifically to the likelihood of a U.S. economic downturn in 2023. The potential of another housing-led Great Financial Crisis also looms. The full effects of the Fed’s latest rate hike won’t be known for months, but higher borrowing costs will hit struggling consumers
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Midterm elections are upon us, and Biden’s party seems poised for big losses. Inflation remains the #1 concern among American families. You can tell the President is a politician rather than an economist, because of his new idea for lowering fuel prices…
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Inflation has been significantly elevated for a year and a half. And since the end of 2021, it’s been stuck at or near four-decade highs. Many of the consequences you’d assume would result from high levels of persistent inflation have indeed come to pass.
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Our present moment is precarious. Like it or not—we don’t—we live in the age of Central Banks. And as we witness, and alas participate in, the global drama to create or destroy wealth, there is a great and tragic irony at work.
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The Fed delivered another 75-basis points hike. Gold didn’t like the FOMC meeting and declined further. Bullion.Directory precious metals analysis 03 November, 2022 By Arkadiusz Sieroń, PhD Lead Economist and […]
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As long as silver continues to trade above its low from late August, it will continue to show a positive divergence versus gold. When silver leads, that generally a bullish a sign for the precious metals space. A strong close above $21 would point to a new uptrend.
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All that gold needs is a cowardly Fed, current monetary supply levels suggest gold is undervalued, and what a gold standard would require in modern times. The consensus is in: gold can’t shatter its former all-time highs until the Federal Reserve does.
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I know that people can get fed up with recession warnings at some point, as they did with the boy who was constantly crying wolf. But there are more and more disturbing signals about black clouds gathering over the economy, despite the fact that the American GDP rose 2.6%,
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Our interest rate system is like a wrecking ball. It swings to one side of the street and destroys one side of town. Then when it swings to the other side of the street, it destroys the other side of town), without repairing any of the infrastructure it previously destroyed.
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Veteran Analyst Makes A Dire Prediction (Only Gold Investors Will Like This) – Nouriel Roubini’s recent feature in Time magazine tells us what we already know: inflation has become a trend word. It is no longer a term for resigned to economists, analysts, traders and speculators. These days…
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The Federal Reserve finally stopped referring to inflation as “transitory” earlier this year and got serious about trying to control the painful rise in prices it has caused. Officials have jacked the Fed funds rate up by 3 percent since March.
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The recent CPI report shows that inflation remains high. It implies a hawkish Fed and bearish gold. To paraphrase a famous Pink Floyd song, I wish you weren’t here, inflation! The CPI increased 0.4% in September, after rising 0.1% in August, according to the Bureau of Labor Statistics.
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Inflation is still running very close to its 40-year highs. And even though the Fed has raised interest rates 75 basis points a pop at each of its last three Open Market Committee meetings, those moves have had little – if any – beneficial impact on inflation.
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Banks operating outside the United States are presently most vulnerable. A spike in interest rates concomitant with a spike in the exchange rate of the Federal Reserve note “dollar” is wreaking havoc in global debt markets and driving capital flight
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For all those looking forward to the Fed’s pivot, I have bad news. The recently published FOMC minutes from the September meeting reveal strong concerns about “unacceptably high” inflation. The central bankers admitted that inflation is not falling as quickly as expected (is this surprising?).
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