Food Bank Strains Emerge As Economy Falls Off Fiscal Cliff

Food Bank Strains Emerge As Economy Falls Off Fiscal Cliff

August 12, 2020 Jordan 0

The latest economic data suggest the US recovery stalled. One look at the Citi US econ surprise index, as of this week, shows the recovery ran out of steam last month. A fiscal cliff is already underway, set to enter the second week on Friday (Aug. 14) as tens of millions of Americans are unemployed and have yet to receive their stimulus checks. 

Precious Metal Pummeling Continues In Early Asia Trading

Precious Metal Pummeling Continues In Early Asia Trading

August 12, 2020 Jordan 0

As Bloomberg’s Mark Cranfield noted this evening, small reversals are just not gold’s style after a major advance (typically somewhere between a 15% and 20% drop is more common), and the selling pressure on precious metals has continued as Japan and then China opens this evening with Silver futures back at a $23 handle and Gold futures back below $1900.

Krugman Says Gold's Rise Has Nothing To Do With Investors Expecting Inflation

Krugman Says Gold’s Rise Has Nothing To Do With Investors Expecting Inflation

August 11, 2020 Jordan 0

Even in the most obvious of circumstances – the Fed printing trillions of dollars within the span of one fiscal quarter – Paul Krugman seems unable to make the basic link between purchasing power, the money supply and the price of gold, and refuses to even consider the recent worldview reversals in such prominent former deflationistas as Russell Napier, Albert Edwards and Russell Clark (all discussed previously).

Tens Of Millions Of Americans Can’t Pay Their Bills

Tens Of Millions Of Americans Can’t Pay Their Bills

August 11, 2020 Jordan 0

Most of us have never experienced anything like this in our entire lifetimes. Fear of COVID-19, endless civil unrest in major U.S. cities and a whole host of other factors have combined to plunge us into the worst economic downturn since the Great Depression of the 1930s. On Friday, the Labor Department announced that the unemployment rate in the U.S. fell to just 10.2 percent last month, and if that number was actually accurate that would be pretty good news.

Exuberance Abounds

Exuberance Abounds

August 10, 2020 Jordan 0

As discussed previously in “Insanely Stupid,” we noted the market remained confined to its consolidation channel, but the bullish bias was to the upside.As discussed previously in “Insanely Stupid,” we noted the market remained confined to its consolidation channel, but the bullish bias was to the upside.

Goldman: An Economic Boom Once At Least One Vaccine Is Approved By End Of 2020

Goldman: An Economic Boom Once At Least One Vaccine Is Approved By End Of 2020

August 10, 2020 Jordan 0

As Deutsche Bank Marion Laboure and Jim Reid wrote last week, whereas vaccines normally require years of testing and additional time to produce at scale, amidst the modern era pandemic scientists are hoping to develop a coronavirus vaccine within 12 to 18 months. The reason for that while normally a vaccine takes years to develop using a traditional process, with covid things are far more accelerated…