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Mainstream media pundits and government officials continue to talk about a growing US economy, but signs in America’s heartland point in the opposite direction. Peter Schiff has made the case that the stagnating economy is driving this strange election cycle, and helps explain the rise to prominence of Donald Trump and Bernie Sanders. But the […]
My how things change. This time last month, it was a foregone conclusion that the Federal Reserve was going to raise rates in June. Then the government released a shockingly bad jobs report and suddenly that rate hike was taken off the table. Even so, many pundits believed July would finally bring the much anticipated […]
In a report released in the wake of the Brexit vote, the World Gold Council predicted “strong and sustained inflows into the gold market.” In the immediate aftermath of the referendum, gold surged, reaching as high as $1,358.54 per ounce before falling back later in the day Friday. It was the highest level for gold […]
The price of gold soared in the wake of the Brexit vote, going as high as $1,350 on Friday before settling back slightly. As of the Monday morning after the vote, the yellow metal was up more than 5% from its close Thursday before returns started coming in. The spike in gold after the shock […]
It appears some of the Obamacare chickens are starting to come home to roost. Opponents of the massive intervention in the health care and insurance markets warned that it would increase prices and negatively impact employment. Supporters of the government health care program poo-pooed those predictions. But as some of the real-world implications of Obamacare […]
The British vote to leave the EU Thursday sent shockwaves through the financial markets and pushed gold to a 2-year high. In the historic Brexit referendum, the British voted to leave the European Union by a 51.9 to 48.1 margin. Unofficially, 17,410,742 Brits cast exit votes, with 16,141,241 casting ballots to remain in the EU. […]
Last week, Jim Grant argued that the US manufacturing economy is flirting with recession, if it isn’t there already. He said the horse of speculation is ahead of the cart of enterprise. In other words, even though asset prices such as the stock market and real estate are rising, creating the illusion of economic prosperity, […]
The CEO of one of the world’s largest gold mining companies says he expects gold supply to shrink over the next five years. Gary Goldberg heads Newmont Mining. The company operates gold mines on five continents and employees more than 16,000 people. In an interview with Mining.com, Goldberg said he sees gold supply contracting in […]
Wall Street’s “bond king” said investors have lost faith in central banks, and called the Federal Reserve the “Zombie Fed.” Jeffrey Gundlach made the comments in an interview with Reuters after safe-haven German Bund yields fell below zero on for the first time and global equity markets continued a precipitous slide: Central banks are losing […]
Do you know the last time the world’s interest rates were this low? About 5,000 years ago. Let that sink in for a moment. Since the financial crisis in 2008, world governments have printed $12.3 trillion of money. Central banks have cut interest rates 654 times since the Lehman Brother collapse. There are nearly $10 […]
