Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. In this column, JWR also covers hedges, derivatives, and various obscura. This column emphasizes JWR’s “tangibles heavy” investing strategy and contrarian perspective. Today, we look at base metals prices signaling a recession. (See the Commodities section.)
Precious Metals:
First up, from Matthew Piepenburg: Solid Gold In a Broken World.
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Linked over at the Whatfinger.com news aggregation site: The apocalyptic 8000-tonne gold miscalculation.
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Something for the chartists out there, at Gold-Eagle.com: Gold Forecast – Bullish Price Chart Supports $3000 Target in 2024.
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Moscow Exchange to launch perpetual gold futures in July.
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I heard that Gainesville Coins is now running a sale on silver rounds. They have them for as little as $1.79 over spot, if you pay by check or bank wire.
Economy & Finance:
Federal debt to soar, CBO predicts, despite GOP-led spending standoff.
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Federal Reserve focuses monetary policy on fighting inflation.
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From Zero Hedge: Largest Discrepancy Between GDP And GDI In 20 Years.
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But of course the Perpetual Cheering Section at CNN says: The case for a 2023 US recession is crumbling.
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Apple stock closes above $3 trillion valuation for the first time ever.
Commodities:
Just as I warned you, folks: Base metal prices plummet amid growing recession, demand fears.
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DW: Falling commodity prices stoke fear of global recession.
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I found this at OilPrice News: The Freight Industry Dilemma: Legacy Leases And Saturated Market.
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Nebraska solar farm crippled by hail, underscoring power source’s fragility.
Inflation/Deflation Watch:
From the leftist CNN: Economists are torn on whether the Fed’s pause will backfire.
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Forbes: The Recession Will Bring Deflation.
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McKinsey: The future of wealth and growth hangs in the balance.
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Inflation to remain high for 2023, 2024: NABE survey.
Forex & Cryptos:
Long-Term Institutional Currency Forecasts 2024-2028: HSBC.
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Analysis from Larry Greenberg, over at his Currency Thoughts blog: Sweden’s Third Central Bank Rate Hike of 2023 Lifts Such to a 15-Year High of 3.75%.
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Bitcoin Price Takes A Hit As SEC Deems Spot ETF Filings ‘Inadequate’.
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Here’s What Caused Bitcoin’s Flash Crash To $29,000.
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From the globalist/statist IMF: Interest in Central Bank Digital Currencies Picks Up in Latin America and the Caribbean While Crypto Use Varies.
Tangibles Investing:
The new universal background check (private party sales ban) went into effect in Illinois on July 1st, 2023. So now there are effectively now 27 sales-restricted states, and 23 “private party sales” states. As the Red States get darker red and the Blue States get darker blue, there will be some sharp contrasts for gun owners. The blue states will make it much more difficult to transact private sales, and will continue to restrict concealed carry. Meanwhile, in the Red States, private party sales will remain unregulated, and permitless concealed carry will become the norm. So, naturally, in response, as people vote with their feet, not only will populations and politics shift, but so too will gun collections. This Great Sort will make for “interesting times.” With the Bruen decision’s excellent “history, text, and tradition” test, most Federal gun laws will be rolled back. But at least in the short term, state laws will still vary widely. Trips that involve crossing state lines will start to seem more like “Iron Curtain” travel propositions.
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Most of the Independence Day sales run by our advertisers will be ending on July 4th or 5th. Follow the ad links, and check them out! With the affiliate ads, we get a little piece of the action.
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. Thanks!