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 the Red Friday stock market crash on Friday, November 26th. (See the Economy & Finance section.)
Precious Metals:
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Big flotilla of illegal gold miners splits up in Brazil.
Economy & Finance:
At Zero Hedge: ‘Red Friday’ – Stocks Suffer Worst ‘Black Friday’ Selloff In 70 Years.
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Dow tumbles 900 points for worst day of year on fears of new Covid variant, S&P 500 drops 2%. JWR’s Comment: Something tells me that they’re cranking up the Plunge Protection Team machine. (And the mainstream media propagandists will be developing a new narrative, to match.
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Morgan Stanley: Here’s Why We See No Rate Hikes In 2022 And What That Means For Markets.
Commodities:
Reader A.K. sent us this news from Indianapolis: Breaking: Fuel Haulers told stay home today due to Fuel price crash on Black Friday Stocks sell off. JWR’s Comment: This coming week will be a great time to top off our gas, diesel. heating oil, and propane storage tanks.
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Inflation is coming for your cup of coffee next. An excerpt:
“Not even coffee is immune to the powerful forces of extreme weather and inflation. Coffee futures climbed on Thursday to the highest level since January 2012. It’s just the latest spike for a commodity that has seen its value surge more than 80% so far this year. Unfortunately, this means coffee drinkers will be paying higher prices at grocery stores and coffee shops in the coming months. And that will only add to the inflationary pressures currently causing anxiety for millions of Americans. The blame for the coffee spike falls in large part on severe drought and unusual frost conditions in Brazil, the world’s largest supplier of coffee beans. This extreme weather has threatened coffee supply and set off alarm bells in financial markets.”
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Copper prices fall as Powell’s nomination boosts dollar.
Inflation Watch:
NPR: Passing the buck: Dollar Tree raises prices to $1.25.
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Majority of Voters Blame Biden for Surging Inflation.
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Inflation Drives Mortgage Rates Over 3%.
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Larry Summers says inflation will get worse before it gets better.
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Updated St. Louis FRED chart: Consumer Price Index for All Urban Consumers: All Items in U.S. City Average.
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Paul Bedard: Democrats and media cool with inflation, urge Americans to have ‘perspective’. JWR’s Comment: Can you imagine how merciless the Mass Media Propagandists would have been if the wave of inflation had started during Donald Trump’s term in office?
Forex & Cryptos:
Alasdair Macleod: The Euro’s Death Wish. Here is a quote:
“The ECB in Frankfurt has also ignored the economic consequences of its actions and has just two priorities intact from its inception: to finance member governments by inflationary means and to suppress or ignore all evidence of the consequences.”
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Turkish lira in historic 15% crash after Erdogan stokes fire sale.
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One in four hedge fund managers to increase crypto exposure, says EY survey.
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This Bitcoin Metric Suggest More Blood As BTC Drops 6%.
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Crypto.com Exchange Introduces Monthly Futures.
Tangibles Investing:
Video: Top 5 Websites For Buying Ammo online. Ammo Shortage Update.
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Palmetto State Armory (one of our affiliate advertisers) is continuing some of their Black Friday specials through Cyber Monday. For example, they have PSA 16″ Mid-Length 5.56 NATO 1:7 twist Nitride Coated Barrels with 13.5″ Lightweight M-LOK Uppers (Without Bolt Carrier Group or Charging Handle) on sale for $249. These normally sell for $599 each. Search on SKU 5165448513. If want want one of these for your next AR build, then order soon!
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!