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 Senior Editor, JWR. Today, we look at the rising price of gold. (See the Precious Metals section.)
Precious Metals:
Gold price rallies to six-month high on safe-haven buying.
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Will Gold Return to All-time Highs in 2023?
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Silver Price 2023 Outlook: Will Silver Underperform Gold in 2023?
Economy & Finance:
Forget recession — the U.S. is heading for a ‘slowcession’ that could last all year, Moody’s warns.
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Friday evening’s headline: Dow closes 300 points lower after strong jobs data signals more rate hikes.
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Amazon executives warn of 18,000 layoffs.
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A stock market crash and a Great-Depression-style economy are among the boldest forecasts for 2023.
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The national debt is a “rapidly growing death spiral”. Here is an excerpt:
“Like a consumer grappling with a massive credit card balance, the federal government is paying more just for the interest on the national debt. Government projections show those interest costs tripling from $399 billion this year to $1.19 trillion in 2032. Borrowing most likely will have to increase just to pay for the higher interest expenses.”
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Commodities:
Gas Prices to Remain High in 2023, Projected to Peak at $4.12 per Gallon in June. JWR’s Comments: If you have any bulk fuel storage tanks, then I recommend that you top them off, ASAP. Keep in mind that winter-formulated gasoline stores longer, because butane is added, to provide better cold-weather engine starting.
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Some predictions from Farms.com: A 2023 commodity outlook.
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IRSG: Rubber demand to grow through 2030.
Inflation Watch:
U.S. inflation has not ‘turned the corner yet’, IMF’s Gopinath warns – FT.
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Food Inflation Hits Record 13.3 Per Cent in Britain Indicating ‘Another Difficult Year’ to Come.
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Kiplinger: How Inflation Can Impact Your Taxes.
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Phoenix led the nation in inflation in 2022, but rise may slow in 2023.
Forex & Cryptos:
Over at Wolf Street: Status of US Dollar as Global Reserve Currency: USD Exchange Rates Hit Foreign Exchange Reserves.
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Creating a BRICS Reserve Currency: A Long-term Project Despite Russia’s De-dollarisation Strategy.
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Crypto Crash Makes Blockchain a Dirty Word.
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Experts predict cryptocurrency in 2023 will come with regulation, DeFi, and rebuilding.
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Prosecutors unlikely to offer Sam Bankman-Fried a favorable plea deal, says lawyer.
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Bankruptcy judge rules that Earn account assets belong to Celsius.
Tangibles Investing:
Some basics: How to invest in tangible assets.
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I noticed that Brownells (one of our affiliate advertisers) is running a sale on MagPul AR PMAGs, including the much-sought-after Gen3 windowed PMAGs for as low as $12.49 each. I can foresee that these will be incredibly useful for barter. And with the rapid ongoing currency inflation, magazine price increases are inevitable, regardless of whether or not any restrictive legislation is enacted. So consider them an inflation hedge.
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Farmland Investing During A Recession.
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!