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 declining purchasing power of the U.S. Dollar. (See the Inflation Watch section.)
Precious Metals:
Gold Breaking Out Amid Loss of Investor Confidence in the Fed.
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Arkadiusz Sieroń: Will Evergrande Make Gold Grand?
Economy & Finance:
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At Zero Hedge: IRS Says Tax Brackets Will Be Higher In 2022 Thanks To Faster Inflation.
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Is the Biden-Harris Regime Purposely Destroying the American Economy?
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More Bad News For Biden As Real Wages Plunge.
Commodities:
Bill V. sent us this: Coffee prices surge to 7-year high as inflation hits Americans’ pocketbooks.
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OilPrice News reports: Biden Administration Still Debating Moves To Lower Gasoline Prices. JWR’s Comment: This may be sort of obvious, but what about calling a halt to creating Trillions of Dollars out of thin air? Whaddaya think, Sniffy Joe?
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Fertilizer prices continue record climb. JWR’s Comment: It seems that the only place where steer manure is cheap and applied heavily these days is Kenosha, Wisconsin.
Inflation Watch:
At Currency Thoughts: Extraordinary Acceleration of U.S. CPI Inflation.
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Food Inflation Weighs on US Households as Prices Soar in October.
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Forbes had this: ‘Meatflation’ Worsens As Prices Rise At Fastest Rate In 30 Years In October.
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American consumers are paying a steep price for Biden’s policies. Here is a pericope:
“The government just reported that yearly producer prices are up more than 8 percent from just a year ago. When producer prices rise, those costs are soon and inevitably passed on to shoppers in higher consumer prices. Gas prices nationally are up $1.31 a gallon from last November, and don’t be surprised if $5 a gallon isn’t around the corner.
For tens of millions of Americans who aren’t rich, ‘transitory’ inflation is feeling more like runaway inflation. Worker pay is rising at about 4 percent — that’s the good news. The bad news is consumer prices are rising closer to 6 percent, which means in purchasing-power terms, paychecks are shrinking.”
Forex & Cryptos:
Attempting to Stabilise the Free-falling Zimbabwe Dollar.
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Chinese provincial official expelled for violating crypto mining ban.
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Off to see a movie? Confirmed: AMC Now Accepts Bitcoin, Ethereum, Two Other Cryptos, Dogecoin To Follow.
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Jameson Lopp: Lopp’s Links For Learning Bitcoin.
Tangibles Investing:
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Wild Bidding Wars Erupt at Used-Tractor Auctions Across the U.S.
Some related news: Used Tractor Prices Skyrocket Amid Deere Strike.
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!