NEWS
Gold and silver market moving news, curated from the best of GoldSilver's team and around the web. Check back often for updates, or subscribe to get the highlights in your inbox.
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60% of Working Americans Say It's Harder to Retire Now Than 5 Years Ago
"Nearly seven in 10 (69%) of the Gen X generation -- those born from 1965 to 1980 -- who, 'arguably, are in their most crucial retirement savings years, say that things today are making it harder for them to be able to retire on time. And 65% of baby boomers feel the same way."
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Gundlach: "Very Bearish on Stocks, Very Bearish on Bonds"
"Jeffrey Gundlach, Wall Street's bond king and a well-respected prognosticator on all financial markets, painted a bearish picture of the stock and corporate bond markets, as well as the U.S. economy, on Tuesday."
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Trump Takes Another Shot at the Fed: December Rate Hike "Would Be Foolish"
"Trump told Reuters he needed the flexibility of lower interest rates to support the broader U.S. economy as he fights a growing trade battle against China, and potentially other countries."
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Both Goldman and Citi Say Hong Kong Banks at Risk After Central Bank Money Printing
"Hong Kong’s monetary base more than doubled since the end of 2009, boosting the Hang Seng Index by roughly the same magnitude from trough to peak and almost tripling property prices."
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Fed Says "It Doesn't Matter" How Much Money It Loses Shrinking Its Balance Sheet
Declaring itself a "unique non-profit entity", the Fed attempts to promote the narrative that it made no difference at what price they bought bloated, worthless assets, and now makes no difference at what price they sell them. Because they can always just print more currency.
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Canadian Citizens Going Bankrupt at Alarming Speed: 16% Increase in 1 Month
"The sequential rate at which these proposals and bankruptcies are rising make it clear that even the smallest uptick in interest rates is having an immediate and dire effect."
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Way Down, Down Under: Sydney Housing Prices Collapse by Most in 30 Years
"Sydney’s property market slump has reached a new milestone, with values falling further than the late 1980s when Australia was on the cusp of entering its last recession."
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Gold Traders' Report - December 11, 2018
The 10-year bond yield rose to 2.886%, while the DX remained stable around 97.40-45. Gold was $1,243 bid at 4PM with a loss of $1.
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Kyle Bass: Without $1T in Infrastructure Stimulus, We're Headed for Recession
"Texan hedge fund manager J. Kyle Bass, the founder of Hayman Capital, sees a recession happening in 2020 unless the U.S. puts together a big infrastructure plan."
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Germany Cuts 2018 GDP Growth Forecast to 1.6%
"The German economy, Europe’s largest, has shifted into a lower gear as Britain’s looming departure from the European Union and trade conflicts sparked by U.S. President Donald Trump’s ‘America First’ policies cause business uncertainty."
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"It Grows as It Goes": New Mexico's State Motto Fitting as Credit Card Debt Leads Nation
"In New Mexico, a household earning the median annual income of $46,744 would take nearly 1.5 years to pay off the state’s average household credit card balance of $8,323."
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WSJ: "Now Loan Investors Are Heading for the Exits"
"Speculative-grade loans, a rare bright spot in the fixed-income world for most of the year, have hit a rough patch, posing challenges for businesses that have relied on the market."
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Northman Trader: "Mario’s Hell"
"Oh dear. I don’t envy Mario Draghi right now. But he’s doubled the ECB balance sheet to over 41% of Eurozone GDP since 2014 and he’s kept interest rates at -0.4% since March 16, 2016 and has been advertising an end to QE by the end of 2018."
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Foreign Investors, More and More, Turning Away From US Treasuries
"A worrying sign of inversion in the U.S. Treasury bond curve is dulling the appeal of the developed world’s highest-yielding bond market for foreign investors."
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Jerome Powell's "Charm Offensive" Designed to Counter Trump's Attacks on the Fed
"The Fed has announced a series of initiatives, including a monetary-policy review roadshow, a semi-annual assessment of financial stability, and its inaugural Supervision and Regulation Report. These follow Powell’s early promise of 'plain-English' explanations and a doubling of his press conferences."
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What They Aren't Telling You About the Yield Curve
Join Mike Maloney as he reveals an important factor of the partial Yield Curve inversion that is being ignored by mainstream news and media. Then stick around to the end of the video to see yet another indicator that is suggesting a huge change in markets could be upon us...
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WSJ: Wall Street 'Fear Gauge' Says "Buy the Dip" Has Become "Sell the Spike"
"Unlike October, investors no longer see the market correction as a temporary dislocation, but rather driven by more persistent macro risks,' wrote Mandy Xu, derivatives strategist at Credit Suisse."
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Japan's Miserable Q3 GDP: -2.5%, Worst in 4 Years
The world's most-central-bank-owned economy is a mess. "The capital expenditure component of GDP fell a sharp 2.8 percent from Q2, worse than the expected 1.6 percent decline and the preliminary reading of a 0.2 percent drop."
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The Swiss Central Bank, Also the World's Largest Hedge Fund, Losing on Tech Stock Bets
"Pretty much everything the financial world is doing these days relies on a false sense of security fostered by 'innovations' (ZIRP, QE, ETFs) that hide the true risks of financial assets. And people are starting to figure this out."
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FY 2019 Federal Budget Deficit Soars, 50% Higher Than Same First 2 Months of FY 2018
"In October and November, the federal government spent $303 billion more than it took in, compared to $202 billion in the same period of fiscal 2018, according to the CBO."
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