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, another look at the Swiss Watch market. (See the Tangibles Investing section.)
Precious Metals:
Radomski: The Most Important Analogy for the Markets, Including Gold.
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Neils Christensen: The gold market has a big hill to climb as prices lose 3% after hitting all-time highs.
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The world’s largest silver producers in Q3 2023 – report.
Economy & Finance:
At Zero Hedge: US Bank Deposit Outflows Continue To Surge As Regional ‘Stress’ Accelerates.
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Broadcom cuts at least 2,800 VMware jobs following $69 billion acquisition. JWR’s Comments: Broadcom is reportedly demoting lots of VMWare vice presidents to “Manager” level (with corresponding 20% or more pay cuts), and seems intent on laying off everyone but the company’s Brain Trust. Morale is in the dumpster. I’ve read that 60% of VMWare’s Austin, Texas office employees were laid off. According to a VMWare employee forum, their headcount is expected to shrink from 35,000 to around 16,000 by 2025. More analysis of the acquisition has been published here: VMware layoffs (and other cuts) start as Broadcom takes over. Also, see the interesting comments at TheLayoff.com.
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Linked over at the Whatfinger.com news aggregation site: Jobs numbers “implode” as job openings plunge 800,000 on the month. Wall Street Journal thinks it’s bad.
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Mortgage Rates Forecast For 2024: When Will Rates Finally Come Down?
Commodities:
Readers D.S.V. sent us this: EV plugin costs about to be supercharged.
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IMF Chief Calls for Public to Be Punished for Using Energy.
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France, US to propose ban on private finance to coal-fired plants at COP28.
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From OilPrice News:
Inflation/Deflation Watch:
Turkish Inflation Quickens to Highest Level in 2023.
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What does the future hold for Argentina’s economy under Milei? A quote:
“President-elect Milei seems intent on moving forward with sizable, front-loaded fiscal consolidation, the removal of capital and exchange rate controls, and privatizations once he assumes office on 10 December. These measures will lead to a surge in Argentina’s inflation rate and a deepening economic contraction in the coming quarters, with social opposition to the government’s measures further disrupting economic activity. Our Consensus is for inflation to peak at 260% in Q2 2024, and for the economy to shrink year on year until Q4.“
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Chile Inflation Rate Exceeds All Forecasts Ahead of Rate Meeting.
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IMF Staff Concludes Staff Visit to Zimbabwe.
Forex & Cryptos:
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Record Bitcoin Call Volumes Target $50,000 By January.
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Grumpy Bankers: JPMorgan Chase CEO Jamie Dimon Wants the Feds to Shut Down Bitcoin.
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Bitcoin (BTC) Surpasses $43,000; InQubeta (QUBE) Mainstream Buzz Intensifies.
Tangibles Investing:
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Global Swiss Watch Market Outlook [2023-2030] — Market Cap Marked at USD 3384.97 Million Recently.
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Palmetto State Armory (one of our affiliate advertisers) is in the middle of their “AR-15 Days of Christmas” Take a look at their great bargains on guns, AR uppers, parts, ammo, magazines, and optics. There are some awesome deals.
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As part of their Christmas sale, GunMag Warehouse is running a special on ETS Sig Sauer P320/P250 9mm 40-Round Extended Magazines, for just $11.99 each.
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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!