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The House and Senate both passed the GOP tax bill yesterday. As of Wednesday morning, it needed just one more vote in the House on some technical changes made in the Senate before it heads to Pres. Trump’s desk. The media keeps calling the Republican bill “tax reform.” Peter Schiff called that, “fake news.”
Have you heard of the depression of 1920-21? Unless you’re a pretty hard-core economics geek, you probably haven’t. The most striking aspect of this depression was its duration. It lasted just 18 months. And how did the US get itself out of this sharp economic downturn? By essentially doing nothing.
We’ve done extensive reporting on the GOP tax reform bill as it’s moved through Congress. We’ve highlighted a number of concerns about the plan, specifically the significant expansion of the national debt it will cause. Yesterday, we explained how the impact on the deficit will likely be even bigger than expected because of the incentives […]
China wants to dethrone the dollar and it could take a step in that direction before the end of the year. According to numerous reports, China is prepared to launch a yuan-denominated oil futures contract before Christmas. Last week, the Shanghai International Energy Exchange successfully completed a fifth round of yuan-backed oil futures testing. According to […]
It appears increasingly likely the Republican Congress will pass tax reform this week. As we analyze the plan, it’s important to remember – incentives matter. Details of the House/Senate compromise bill came out Friday. It features a top rate of 37% and a bottom rate of 10%. The corporate rate would drop to 21%. The […]
Janet Yellen and company pretty much followed the script during last week’s Federal Open Market Committee meeting, raising interest rates another .25 percent and signaling three rate hikes in 2018. We tend to focus primarily on Federal Reserve actions, but it’s important to remember the Fed isn’t the only central bank game in town. While it […]
The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.
The University of Kentucky plans to blow up part of my youth. Earlier this week, the UK Board of Trustees approved a plan to demolish the Kirwan Blanding dorm complex, including two 23-story residential towers. Apparently, kids aren’t willing to live two to a cell and share communal showers anymore. According to a story in […]
Indians are buying silver. India ranks as the second largest gold consumer in the world, behind only China, but Indians also have an appetite for the white metal. After a drop in silver demand last year, Indians are once again buying.
The last few weeks have been tough on gold. If you have a short-term mentality, you might even think the gold market has gone bearish. But as World Gold Council chief market strategist John Reade pointed out in a piece he wrote for the December issue of WGC Gold Investor, 2017 has been good for […]
