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 looming layoffs. (See the Economy & Finance section.)
Precious Metals:
At Gold-Eagle.com: Gold at $3,000 by 2025? Citi Analysts Don’t Rule it Out.
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Chinese Wholesale Gold Demand Sets January Record.
Economy & Finance:
Layoffs are looming: Former Home Depot CEO sounds alarm on ‘tremendous shift’ in labor market.
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Over at Business Insider: The full list of major US companies slashing staff this year, from Paramount to Google and Microsoft. Here is a quote:
“A slew of companies across the tech, media, finance, and retail industries made significant cuts to staff in 2023. Tech titans like Google and Meta, finance giants like Goldman Sachs, and manufacturers like Dow all announced layoffs.
2024 is already looking grim. And it’s only February.
Thirty-eight percent of business leaders surveyed by ResumeBuilder think layoffs are likely at their companies this year, and around half say their companies will implement a hiring freeze.”
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Video: U.S. Senators arguing the impact of the Basel III capital requirements: “Like Taking Gun Safety Advice from Alec Baldwin!” Senator Kennedy Makes Everyone Laugh!
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Over at American Thinker: Federal Reserve records massive losses, makes up fictitious value called ‘deferred assets’ to compensate.
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Can Fractional Reserve Banking Survive the Twenty-First Century?
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Michael Burry Adds to China Big Tech Wager as Stock Rout Deepens.
Commodities:
From OilPrice News: Warm Winter Drags U.S. Natural Gas Prices to Three-Decade Low.
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Long-term US ban on new LNG export projects would have significant impact, Shell executive says. (A tip of the hat to blog reader A.K. for the link.)
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Video from Fox Business: Rancher sounds the alarm on the ‘war on beef’.
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What’s behind the collapse in the price of nickel and how can the industry survive?
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Three Countries Hold 50% of the World’s Uranium Reserves.
Inflation/Deflation Watch:
Inflation update on everyday expenses: Prescription drugs down, pet care way up.
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Barron’s: If February Inflation Reports Come in Hot, the Fed Will Have a Problem.
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Turkey’s inflation sees biggest monthly jump since August, nears 65% year on year.
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Two videos, to follow up on a post a few weeks ago:
The Worst Examples Of “Shrinkflation” (Part 2)
and,
The Worst Examples Of “Shrinkflation” (Part 3)
Forex & Cryptos:
Bad Month Ahead for South Africa Rand Investors, If History Is a Guide. The article’s opening:
“February, when South Africa releases its annual budget, can be a terrible month for the rand, and this year will be no different, many investors expect.”
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Top 10 Lowest Valued World Currencies in 2024.
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The Turkish Lira is still on the skids, at 30.87 to the Dollar. Back in May of 2023, it was at 20.4 to the Dollar.
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At Currency Thoughts: Chinese 5-Year Loan Prime Rate Reduction.
Tangibles Investing:
Visa, Mastercard, American Express Implementing Code to Track Gun Purchase Information in California.
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Palmetto State Armory (one of our affiliate advertisers) has some great specials in their “Daily Deals” this week. Take a look!
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!