Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. Most of these items are from the “tangibles heavy” contrarian perspective of SurvivalBlog’s Founder and Senior Editor, JWR. Today, we look at the growing scarcity of some firearms magazines. (See the Tangibles Investing section.)
Precious Metals:
PRECIOUS-Gold firms near 7-week high on weaker dollar, lower yields
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Gold prices can push higher as bond yields have peaked – Metals Focus
Economy & Finance:
Travel on U.S. Roads Fell 12.1% in February Over 2020 Levels
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Hedge Fund Assets Hit Record $3.8 Trillion in First Quarter
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At Wolf Street: Freight Expenses Spike the Most on Record
Commodities:
Surging lumber costs have increased the average cost of a new house by $24,000.
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$95 per sheet? Yes, the price of plywood is up in the range of 252%, with market factors to blame.
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Copper falls on virus surge, weak dollar limits losses
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Oil Drops From One-Month Highs on Demand Fears as Virus Surges in India
Federal Spending, National Debt, & Deficit:
We are now in the Federal monetary-fiscal twilight zone. Note that this chart shows only 2020, not the additional trillions in over-spending in 2021. When Germany was forced to hyperinflate their currency in the early 1920s in order to pay off its war reparations, it was somewhat understandable. But for our Federal government to massively balloon our spending (and in effect hyperinflate our currency) for no good reason other than to “stimulate” the economy was reprehensible. We are saddling future generations with mountains of debt. I can recall the congressional hand-wringing over the huge 2008 bailout. But by comparison to 2020-2021, that was just a blip in the Federal spending chart.
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Report: True National Debt Exceeds $123 Trillion, or Nearly $800,000 per Taxpayer
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Back in February, the Federal deficit for 2021 was estimated at 2.3 trillion. But since then, the congresscritters passed another “infrastructure” bill. And even more bailouts, stimulus, and infrastructure spending is planned before the end of fiscal 2021. So the deficit may end up somewhere north of $6 trillion. Yikes! And they tell us that “inflation is low”. Yeah, right. Try using that worn-out phrase in your local gun shop or lumber store.
Forex & Cryptos:
Dollar’s Purchasing Power Drops Sharply to Record Low, But It’s a Lot Worse than CPI Shows
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Turkish Lira Under Renewed Pressure
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TA: Here’s Why Bitcoin Price Is Primed To Revisit $52K Support
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Ethereum breaks out vs. Bitcoin: Why one trader says ETH/BTC looks ‘absolutely insane’
Tangibles Investing:
I’ve noticed that magazine shortages are starting to become apparent. Just try to find Glock Model 20 (10mm) magazines, Magpul PMAG D-60 Drums, or original factory-made SIG P226 magazines. With the Biden-Harris regime threatening executive orders — most likely including an import ban on 11+ round magazines — we can only expect magazines to get more scarce and expensive. So, stock up! If you own any guns that have foreign-made magazines, then those should be your top priority. It is better to be a month too early than a day too late…
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Magazine Capacity Laws by State 2021. JWR’s Comment: Beware that any new nationwide Federal ban (such as the one recently introduced by Senator Menendez) would likely have a full grandfather clause, but not a sunset clause. The law of supply and demand is invoked whenever a ban is enacted, and prices jump. Buy low and sell high…
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. And it need not be only about commodities and precious metals. Thanks!