Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. Most of these items are from the “tangibles heavy” contrarian perspective of SurvivalBlog’s Founder and Senior Editor, JWR. Today, we look at rising steel prices. (See the Commodities section and the Equities section.)
Precious Metals:
A video interview: Roubini: There’s tech bubble, crypto bubble, Robinhood bubble, ‘I would be slightly overweight gold’ right now.
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Egon von Greyerz: Gold vs $200 Trillion Counterfeit Money.
Economy & Finance:
‘$17 trillion’: Economist finds Biden plans 3 times costlier than advertised.
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Inflation Nation: Consumer Prices Jump 4.2 Percent
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Brandon Smith: Existential Economic Threats: How U.S. States Can Survive Without Federal Money
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New tax warning: Biden to whack small businesses
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Charles Hugh Smith: Here’s How ‘Everything Bubbles’ Pop.
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Montana Is First State To Cancel Unemployment Benefits In Response To Unprecedented Worker Shortage.
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Reader H.L. sent this: LA’s Homeless Housing Now Costs More Than Some Luxury Condos.
Commodities:
Steel prices have tripled. Now Bank of America is sounding the alarm. Here is a quote:
“The pandemic brought the American steel industry to its knees last spring, forcing manufacturers to shut down production as they struggled to survive the imploding economy. But as the recovery got underway, mills were slow to resume production, and that created a massive steel shortage.
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Are scrap metals becoming precious metals? 11th May, 2021: North American Scrap Metal Prices Soared on Index.
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China’s steel prices spike on record raw material costs, raising inflation fears
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Average US price of gas jumps 6 cents per gallon to $3.02
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Analysts: Copper Prices Could Double To $20,000 Per Ton. JWR’s Comment: My advice is to hang on to your Nickels, and acquire more! (U.S. Post-1945 Nickel 5-cent coins are 25% nickel and 75% copper.)
Equities:
Barron’s: Buy U.S. Steel Stock Because a Supply Shortage Is Colliding With Demand.
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What Happens to Stocks and Cryptocurrencies When the Fed Stops Raining Money?
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Forex & Cryptos:
The future of the Swiss Franc? USD TO CHF Forecast 2021, 2022-2025
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Pound rallies over $1.41 to highest since February; Dow hits new peak – as it happened
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MoneyGram Supporting Retail Bitcoin Buying In US
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Warning: Central Bank Digital Currency Will Be 100% Trackable Currency.
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When all-time high? Bitcoin traders lose confidence as BTC price slumps
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Tesla suspends vehicle purchases using bitcoin
Tangibles Investing:
Real Estate: Zillow Market Pulse: May 7, 2021
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Sales have been brisk in our the Jeff Cooper’s Birthday Sale at Elk Creek Company. We sold more than $10,000 worth of guns in the first two days of the sale. This sale began on May 10th (Cooper’s birthday) and ends on May 21st, so order soon. This is the time to round out your collection of pre-1899 Federally-exempt guns! For this sale, I’ve reduced the prices on more than half of my pre-1899 gun inventory, and all of my replica percussion-fired revolvers.
Provisos:
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos page for our detailed disclaimers.
News Tips:
Please send your economics and investing news tips to JWR. (Either via e-mail or via our Contact form.) These are often especially relevant because they come from folks who closely watch specific markets. If you spot any news that would be of interest to SurvivalBlog readers, then please send it in. News items from local news outlets that are missed by the news wire services are especially appreciated. And it need not be only about commodities and precious metals. Thanks!