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 higher mortgage interest rates. (See the Economy & Finance section.)
Precious Metals:
JPMorgan: Gold Getting a Boost from the “Debasement Trade”.
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Frank Holmes: Gold SWOT: Hungary has raised its gold reserves, citing the precious metal’s role as a haven. JWR’s Comment: Part of the recent slip in the U.S. gold price is attributable to the U.S. Dollar hitting a 7-week high on the Forex. The more important metric: As priced in Chinese Yuan, gold recently hit another all-time high. When gauging precious metals markets, I suggest looking at long-term global trends and ignoring short-term currency fluctuations.
Economy & Finance:
Rates increase – Today’s mortgage rates for October 8, 2024. A 30-year fixed-rate mortgage now average 6.40%,
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Reported on Monday: Dow closes lower by nearly 400 points as surging oil prices and rising Treasury yields weigh on stocks: Live updates
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The Unstoppable Path to Ever-Increasing Currency Debasement.
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Pew Research: Economic ratings across 34 countries are more negative than positive.
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At Gold-Eagle.com: Fake News on the Economy Is Driven by Fake Money.
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At Zero Hedge: Biggest Hong Kong Crash Since 2008 On Record Volumes: What You Need To Know.
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Consumers Crack: Credit Card Debt Suddenly Plunges Most Since Covid As APRs Hit Record High.
Commodities:
Bloomberg reported on Tuesday: Oil Plunges After Torrid Rally as China Holds Back New Stimulus.
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Olive Oil Supply Crunch Eases As World’s Top Producer Sees Harvest Jump.
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Gold and Coffee Boost September Hedge Fund Returns, Says Societe Generale.
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Exuberant iron ore, subdued copper show different sides of China stimulus: Russell.
Taxes and Tariffs:
Analysis of Harris’s Billionaire Minimum Tax on Unrealized Capital Gains.
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A Look at Kamala Harris’s Tax Plans Ahead of the Election.
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State and Local Tax Revenue – 2024 Second Quarter Analysis.
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Trump’s Tariff Proposals Would Raise Tariff Rates to Great Depression-Era Levels.
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Baker Tilly: October 2024 Policy Pulse.
Forex & Cryptos:
Daniel Kowalski at the Mises site: Can America Survive Global De-Dollarization?
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Yuan Slips As US Dollar Hits Seven-Week High.
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Crypto.com Sues SEC After Receiving Wells Notice, Seeks to Block Jurisdiction Over Token Sales.
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Crypto advocates challenge Elizabeth Warren’s stance on digital currency.
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Who’s Nick Szabo, the man believed to be Bitcoin inventor Satoshi Nakamoto?
Tangibles Investing:
From sealed iPhones to Jordan Star cards, supply surges after record sales.
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Reported in July: 2024 Surge in Demand for Trending Collectibles: Collectibles Industry Valued at $601.2 Billion in 2024 with 9.2% Annual Growth: Report by Market Decipher.
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!