Gold and Silver Industry & Investing News
Today’s gold and silver market news, curated from the best of GoldSilver's team and around the web. Everything precious metals investors need to know including updates on big price swings, macro analysis, and breaking stories. Check back often or subscribe to get the highlights in your inbox. Monitor live spot prices on our charts page.
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US Budget Feels Sting of Higher Rates, and It’s Just the Start
Like a supertanker, US debt-service costs only change course very slowly. But it’s happening now -- and from Washington’s point of view, the new direction is the wrong one: they’re heading up.
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Chicken Wings for $34? Pent-Up Inflation Will Drive US Food Costs Even Higher
With a gallon of milk up about 25% since before the pandemic, and retail bacon 35% higher, it’s hard to imagine how US food inflation could get any worse.
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The Bezos-Biden Inflation Debate, Explained
The Biden tweet that Bezos slammed isn’t as much of an incoherent word salad as it might seem. But it does represent a wrong-headed policy.
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Credit Market Complacency Gives the Fed Room to Crush the Stock Market
As long as the credit markets remain complacent the Fed has ample room to hike. And the Fed will continue to hike until there is a recession, a credit event, or inflation comes down.
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Mortgage Purchase Applications Plunge 12% WoW As Mortgage Rates Skyrocket
The Refinance Index decreased 10 percent from the previous week and was 76 percent lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 12 percent from one week earlier. The unadjusted Purchase Index decreased 12 percent compared with the previous week and was 15 percent lower than the same week one year ago.
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Let's Make A Deal' - Turkey Sets Demands For Finland/Sweden NATO Membership
And the winner of "never let a crisis go to waste" is Turkey's Erdogan, who vows to block NATO membership for Finland and Sweden unless his shopping list of concessions is fulfilled by the US, EU, and NATO. Who will blink? Also today: Greece gets in on the "give us something" game.
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Dow Tumbles Over 1,000 Points on Wednesday, Heads for the Biggest Loss Since 2020
Major retailer Target warned of rising cost pressures in its business right after Walmart.
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Gold Could Spike By $500 When This One Event Happens
...the Fed’s ridiculous track record of easy money over the last 15 years, but also due to the new burgeoning bifurcation of the global economy that looks to be taking place with Russia – and potentially China - looking to back their respective currencies with gold.
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"Most People Have No Idea What's Coming..”: Jeremy Grantham's Last WARNING
Jeremy Grantham warns about the biggest stock market bubble and its future burst. The billionaire investor elaborates on the similarities between today’s market and the environment of 1929 and 2000. Mr. Grantham also shares his thoughts on the best investment strategies during this period.
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Inflation Will Cause Recession, Food Prices To Spiral ‘Much Further’: Kyle Bass
[The Fed] clearly, they printed too much money during their COVID response… we're seeing about a 40% move in the price level of just about everything in our lives.
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Single-Family Housing Starts to Shows Serious Cracks On Top of Negative Revisions
Let's dive into the New Residential Construction report for April for a look at the US housing market.
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Elon Musk: Biden Admin Must Do Something on Inflation or Risk Turning Into 'Venezuela'
“I mean, the obvious reason for inflation is that the government printed a zillion amount of more money than it had, obviously,” Musk said
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Wells Fargo CEO Warns 'No Question' Worst Is yet to Come for Americans
The CEO of Wells Fargo warned Tuesday that there is “no question” that the U.S. economy is going to get worse before it gets better.
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Majority of US CEOs See 'Bleak' Outlook, Expect a Recession Ahead: Survey
“Expectations for future conditions were also bleak,” added Peterson, “with 60 percent of executives anticipating the economy will worsen over the next six months—a marked rise from the 23 percent who held that view last quarter.”
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The US Can’t Avoid Stagflation Even as Fed Tightens, El-Erian Says
The US economy won’t be able to avoid a bout of stagflation and markets have yet to tune into the risk of a significant slowdown in growth, said Mohamed El-Erian, the chair of Gramercy Fund Management and former chief executive officer of Pimco.
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Americans Are More Stressed About Money Than Ever, and It’s Hurting Our Mental Health
“Eighty-seven percent of Americans said that inflation and the rising costs of everyday goods is what’s driving their stress,” said Vaile Wright, senior director of health care innovation at the American Psychological Association.
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Social Security Payments Need to Be $540 More Today To Equal Value in 2000
This year's Social Security cost of living adjustment (COLA) isn't nearly enough to help boost seniors' purchasing power. In fact, according to data from The Senior Citizens League (TSCL), high...
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Democrats’ Plan to Fight Inflation with Price Controls Is Misguided
Late last week Senate Democrats, led by Senator Elizabeth Warren, introduced a new piece of legislation that aims to limit the ability of companies to increase prices on consumer goods and services during crises.
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This Could Be a Lost Decade for Stocks, Could Get It Over With and Crash: WSJ
U.S. shares could go nowhere for a while based on long-term valuations, or they could get it over with and crash
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US Housing Starts, Permits Plunge In April As Mortgage Rates Soar
Following March's modest rise in Housing Starts and Permits, analysts expected reality to catch up with the homebuilder market in April (just as we saw in the NAHB sentiment survey slumping to 2 year lows). Housing Starts and Building Permits both dropped in April but the picture was mixed...
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