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 the continuing bull market in precious metals. (See the Precious Metals section.)
Precious Metals:
FoxNews: Value of gold bar hits $1 million for first time ever. (A hat tip to H.L. for the link.)
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Gold Holds Above $2,500 as Powell Signals Rate Cuts Are Coming.
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At Kitco.com: “The time has come for policy to Adjust” – Fed Chairman Jerome Powell signals a new era in monetary policy.
Economy & Finance:
Reader D.S.V. sent this: The Kamala Harris plan to tax ‘unrealized gains’ would crash the American economy.
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Americans Now Need $2.5 Million To Be Considered Wealthy: Charles Schwab Survey.
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At Zero Hedge: US Jobs Revised Down By 818,000 In Election Year Shocker, Second Worst Revision In US Histoy.
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Macy’s Plunges On “Sharp Cut” To Full-Year Forecast; Goldman Expects Consumer Weakness To Persist.
Commodities:
Huge Shakeup For Wyoming Coal: Arch To Merge, Peabody Sells 10% To Hedge Fund.
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China’s rare copper export boom signals more than weak demand.
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From OilPrice News: State Rankings: Electric Vehicles per Capita in the United States.
Inflation/Deflation Watch:
Turkish central bank holds rates at 50% for fifth month.
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The ‘Grumpy Economist’ on inflation’s causes and cures.
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After ditching the dollar, Zimbabwe now rushing for it at a steeper cost.
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Americans increasingly concerned about inflation as U.S. election nears.
Forex & Cryptos:
At Currency Thoughts: Stocks and Commodities Up, Dollar Softer Ahead of Powell’s Speech at Jackson Hole.
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Wyoming is pushing crypto payments and trying to beat the Fed to a digital dollar.
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Kamala Harris set to crackdown on crypto if elected.
Tangibles Investing:
Mortgage Rates Forecast For 2024: Experts Predict How Much Rates Will Drop.
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Brownell’s (one of our affiliate advertisers) has some great specials this week. If you are building a precision rifle, they have everything that you need: scopes, scope mounts, scope rings, aluminum bedding block stocks, glass bedding kits, scope levelers, gunsmithing tools, et cetera. 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!