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 rising oil and fuel prices. (See the Commodities section.)
Precious Metals:
SurvivalBlog’s Editor-At-Large Michael Z. Williamson suggested this article: Platinum Market on track to see record 1-million ounce deficit in 2023.
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Dave Kranzler, over at Gold-Eagle.com: Gold & Silver Are Facing 2008-Like Conditions.
Economy & Finance:
Moody’s cuts China’s 2024 economic growth forecast, lifts US GDP 2023 expectations.
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Over at the CNN perennial cheering section: America is in a factory boom again. Even a recession may not bring it down this time.
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Linked over at the Whatfinger.com news aggregation site: BRICS Giant Begins Dumping U.S. Treasuries. JWR’s Comment: China’s holdings of U.S Treasury paper peaked 10 years ago. Their divestment trend is not a new phenomenon.
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“There Is A Default Coming”: Dave Brat Warns Of Economic Path With McCarthy At Wheel.
Commodities:
Why are oil prices jumping to a 10-month high?
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September 2023: Diesel Fuel Prices Rise for 8th Straight Week. A snuppet:
“The first week of September 2023 shows that national average retail diesel fuel prices continue to rise, hitting $4.49 per gallon as of September 4, 2023, according to the U.S. Energy Information Administration (EIA).”
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Lithium deposit found in US may be among world’s largest, study finds. (Thanks to blog reader C.B. or the link.)
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Study: Tricky balancing act between EV scale-up and mining battery metals.
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Germany Passes Modified Fossil-Fuel Heating Law.
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Another from OilPrice News: The Final Curtain For Incandescent Light Bulbs.
Inflation/Deflation Watch:
Reuter’s: Column: September sees Fed dot plot thicken. Here is a quote:
“After an edgy few weeks of repricing – as the U.S. economy re-accelerated in July and forced a reassessment of the long-term sustainability of the new higher interest rate regime – traders seem to finally agree with what policymakers have been saying since June: there’s one more hike to come.
For the first time since the SVB bust and regional bank crisis in early March, futures markets moved briefly this week to show as much as a 60% chance on another policy rate rise to the 5.50-5.75% range by the November 1 Fed meeting.”
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China’s deflation pressures ease, more steps expected to spur demand.
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Chicago Fed: Past and Future Effects of the Recent Monetary Policy Tightening.
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OECD: Inflation forecast.
Forex & Cryptos:
Euro to Dollar (EUR/USD) Forecast for 2023, 2024-2025 and Beyond.
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At Currency Thoughts: Continuing Worry about China’s Economy and an Equivocal Remark from the President of the N.Y. Federal Reserve.
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First Central Bank Rate Cut in Poland Since 2020.
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Jameson Lopp: Some Users May Want an ‘Everything App’, but What We Need Is Digital Sovereignty.
Equities:
The optimistic Dave Ramsey: Will the Stock Market Crash in 2023?
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A more realistic view: Stock Market Crash Alert: Brace Yourself for the September Effect.
Tangibles Investing:
Palmetto State Armory (one of our affiliate advertisers) has a great very short-term closeout special in their “Daily Deals”: 500 Round “Bricks” of Armscor .22LR HVSP 40gr Ammunition for just $24.90! (Full retail is $89.90 per brick.) $25 was the going price for .22 ammo bricks back in the mid-1990s. You are very unlikely to ever find this price offered again. Stack it deep, folks! Lay in some extra for bartering purposes. As long as you store it in ammo cans, it will last for many decades. To find this deal, paste the SKU “BUN-239” in their search box.
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!