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 fertilizer prices. (See the Commodities section.)
Precious Metals:
Why Isn’t Gold Going Up With Inflation?
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“$3000 In Months, Not Years” – Gold’s Inflation-Protection Means “Violent” Run-Up Imminent
Economy & Finance:
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Pelosi upbeat on Biden deal but Manchin pans billionaire tax.
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At Zero Hedge: How Long Until Supply Chains Finally Normalize: Three Things To Watch.
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Another Massive Short Squeeze Leads To Spectacular 5Y Auction.
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At Wolf Street: Rents Spiked 10% to 25% in Half the Cities in October: How it’ll Push Up CPI Next Year, Ridiculing Fed’s “Transitory” Inflation.
Commodities:
Reader H.L. suggested this article at The Street: Soaring Fertilizer Prices Could Force Farmers Into Tough Decisions. The article begins:
“The fertilizer market is seeing prices at or near record levels due to a variety of supply and demand factors. Prices are rising so quickly that, by early October fertilizer futures at CME Group were witnessing prices hit and exceed pre-financial crisis 2008 levels.
Several supply issues are contributing to the growth in fertilizer prices. First, short-term capacity or logistical constraints have hampered some plants’ ability to supply the market. Severe weather has also hit some producing regions. Hurricane Ida forced shutdowns in Louisiana near the Gulf, where a significant amount of fertilizer is produced and transported. Labor shortages are being felt by transportation companies, meaning even the fertilizer that is produced is costing more to move.”
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OilPrice News reports: U.S. Residential Natural Gas Bills To Jump 30% This Winter.
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Oil Dips After Buildup in Oil Inventories.
Inflation Watch:
At Wolf Street: Rents Spiked 10% to 25% in Half the Cities in October: How it’ll Push Up CPI Next Year, Ridiculing Fed’s “Transitory” Inflation.
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Real cost of inflation to average American household: An extra $175 a month.
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What are the key drivers of surging inflation in the United States?
Forex & Cryptos:
This was published in late August: 20 Strongest Currencies in The World 2021.
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Dollar Marking Time and Some Profit-Taking in Stocks. Here is an excerpt from the Currency Thoughts article:
“Ten-year sovereign debt yields fell overnight by six basis points in the U.K. (the Autumn budget is being presented later today), four basis points in Germany and two bps in the United States.
The weighted DXY dollar index has dipped 0.1%, led by a 0.4% drop against the yen but mitigated by advances of 0.3% versus sterling and 0.2% relative to the loonie. The dollar has also fallen 0.1% against the euro but is unchanged from Tuesday’s close against the Swissie, Mexican peso, and Australian dollar.
Australian consumer price inflation receded to 3.0% in the third quarter from a twelve-plus-year high of 3.8% in 2Q. Core inflation, however, accelerated to 2.1%”
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Nigeria launches Africa’s first central bank digital currency.
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Why Bitcoin Could Correct Lower Below $60K In Near-Term.
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Bitcoin price dip matches October 2017 with BTC ‘explosion’ still forecast before 2022.
Tangibles Investing:
The Rare Scotch Market Will Hit Record Highs This Year—and So Will Prices.
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Nearly Half Of Car Shoppers Likely To Delay Purchases Until Chip Shortage Is Resolved.
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!