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, a recap of the tumultuous early August stock crash.
Precious Metals:
Spot gold hit another all-time high this morning in Asian trading. When I last checked, it was at $2,511.20 per Troy ounce. (Up $42.80.) The more heavily-manipulated silver market has some catching up to do. The silver shorts may soon be in a panic.
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Gold Is Back Over $2,500 As Money Starts Going Back Into ETFs.
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At Zero Hedge: PBoC’s Gold Conduit Revealed: Chinese Central Bank Did Not Stop Buying Gold In May.
Economy & Finance:
‘Magnificent Seven’ Losses Approach $3 Trillion Amid Weeks-Long Selloff.
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10 Imploding Stocks Cost Investors A Staggering $2.6 Trillion.
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World’s Richest Lose $134 Billion in Stock Slump, Led By Bezos.
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Charles Hugh Smith: The Great Unwinding: Is There Any Way to Come Out Ahead?
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And at Zero Hedge: “Travel Trends Deteriorating” As Consumer Downturn Worsens.
Commodities:
H.L. sent us this: Goldman Says Mid-Atlantic Power Prices “Finally Caught Up To AI Data Center Load Growth Story”.
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Over at the oft-cited OilPrice News: Why Citi Thinks Trump Is Bearish for Oil.
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Copper prices today: Copper is down -3.23% this week.
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Aluminum Prices Plummet Despite Green Energy Hype.
Public and Private Debt:
US Records 2nd Biggest July Deficit In History As 25% Of Tax Revenue Go To Pay Interest.
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Next president will face a $35 trillion national debt impacted by both Trump and Biden.
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Critics: Where’s debt plan as deficit hits $1.5 trillion, debt tops $35 trillion?
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Credit-Card And Auto-Loan Delinquencies Surged In The Second Quarter.
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Study: U.S. consumers continue to rack up credit card debt.
Forex & Cryptos:
Published on Tuesday: Dollar weakens as markets await US consumer price data.
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Over at Larry Greenberg‘s Currency Thoughts: Heavy Diet of Price and GDP Growth Data.
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Bitcoin on exchanges falls to a new low and may signal a major price spike.
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Why the 2024 election may determine bitcoin’s status in the U.S.
Tangibles Investing:
The biggest car auctions of 2024 are almost here. Will recession fears damper buyer excitement?
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Palmetto State Armory (one of our affiliate advertisers) has some great specials in their “Daily Deals” this week, such as: PSA Freedom AR-15 Nitride Bolt Carrier Group with Carpenter 158 Bolt for just $69.99. To find this deal: In their search box, enter: “516446915”
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!