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 [1]. Today, we look at rapidly rising car prices — both new and used. (See the Tangibles Investing section.)
Precious Metals:
Reuters: Gold pops over 1% as U.S. jobs data miss cools Fed taper bets [2].
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Capital Economics looks for silver prices to drop 5% to $21.50 before year-end [3].
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Raeder Mark in Montana wrote: “Silver is looking cheap…it may drop more initially as interest rates go up but this is a good time to be accumulating…”
Economy & Finance:
Another sign of default angst: Fed Reverse Repo Use Hits $1.6 Trillion on Last Day of Quarter [4].
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At Zero Hedge: The Big Trade Hidden Under The Surface [5].
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Workers Who Maintain Supply Chains Issue Bone-Chilling Warning Every American Needs to Hear [6].
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Reader Ryan C. spotted this headline: Coca-Cola is so desperate for freight space it’s importing ingredients on coal ships [7]. JWR’s Comment: Most folks don’t realize that many bulk freighter holds are routinely alternated between carrying cargoes including various ores, grain, coal, legumes, salts, and concrete.
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How South Dakota became a haven for both billionaires and full-time RV-ers [8]. (Thanks to H.L. for the link.)
Commodities:
Ken E. sent us this: Aramco: Gas Crunch Boosts Oil Demand By 500,000 Bpd [9].
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Bank Of America: Energy Crunch Could Lead To $100 Oil And Economic Crisis [10].
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Commodities Index Hits Record as World Rebound Meets Shortages [11]. JWR’s Comment: With inflation galloping, we can expect to see price records for land, precious metals, and most commodities to be broken again and again, throughout the 2020s.
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Factbox-Digital metal platforms gain traction [12].
Inflation Watch:
Fraxious Markets, Real Inflation Fears, and Opportunity! [13]
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Pat Cascio sent me this link: Biden increases food stamp benefits by 27% due to inflation, increasing burden on taxpayers [14].
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Texas Company Offers Truckers $14K A Week Amid Historic Driver Shortage [15].
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The Inflation Tide Is Turning [16].
Forex & Cryptos:
A million bolivars become one as Venezuela recalibrates battered currency [17].
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Fitch expects dollar to reach Rs180 in 2022 [18].
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The SEC could approve as many as four bitcoin futures ETFs in October [20].
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The Sand Dollar: Digital Currency Of The Bahamas [21].
Tangibles Investing:
Used car prices to stay high until automakers can fix production issues: Carvana CEO [22]. A pericope:
“The average transaction price for a used car was $25,410 in the second quarter of 2021, up 21% year-over-year, the highest average price for a pre-owned vehicle that Edmunds has ever tracked.”
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Twenty Cars Selling for Above Sticker Prices [23].
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Owning a Car in 2021 Costs a Lot More Than You Would Think [24].
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Palmetto State Armory [25] (one of our affiliate advertisers) has extended their “Free Shipping on All Firearms” special until Sunday, October 17th, 2021. They are also continuing to offer AR-15 and AR-10 complete uppers and lowers at bargain prices. At their web site, click on “Daily Deals.” I suggest that you stock up, before the next buying surge, and before Dollar inflation takes its toll!
Provisos:
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos [26] page for our detailed disclaimers.
News Tips:
Please send your economics and investing news tips to JWR [1]. (Either via e-mail or via our Contact form [27].) 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!