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 unfolding decline in the residential and commercial real estate markets. (See the Tangibles Investing Section.)
Precious Metals:
Downside risks for gold and silver prices in 2023 – Natixis’ Dahdah.
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Gold, Silver to Shine as Dollar Weakens in 2023 & Beyond.
Economy & Finance:
Both the Bank of England and the Federal Reserve’s FOMC bumped up interest rates by another 1/2 of one percent this week. JWR’s Comment: The key question is: When will they lose their nerve in their quest to stem inflation? If that pivot comes soon, then we will likely see some monumental market shifts.
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Is “buy and hold” investing over? Household wealth is down $13.5 trillion this year.
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What the H*ll Happened to PayPal? JWR’s Comments: This article neglected to mention that PayPal went to war against anyone who deals in firearms or ammunition soon after the eBay acquisition. I’ve heard countless horror stories about how it took many months for folks with frozen accounts to finally get their money back.
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Store Credit Cards Hit 30% Interest Rates As Consumer Balances Rise.
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US states raising minimum wage, with four above $15. (A hat tip to H.L. for the link.)
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From the leftist-statist MSN: The IRS Adjusted Its Tax Income Brackets — Are You Ready? JWR’s Comment: Note the tone of this article, in making the government sound beneficent. No rise in income tax thresholds would be necessary unless the government didn’t first rob us, through inflation.
Commodities:
Oil price forecast: How does the future oil price look?
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Russia Is Shipping More Than 3 Million Bpd Of Crude To Asia.
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Farm commodities: WASDE Recap for December 2022: Looking Outward, Inward, and Backward to Go Forward.
Inflation Watch:
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Inflation eases more than expected in November to 7.1%, but consumer prices remain elevated. (“Inflation still about 3 times higher than pre-pandemic average.”)
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Gasoline Inflation in the United States (1968-2022).
Forex & Cryptos:
We Are About To Witness A Major Move Toward A Cashless Society.
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Another BRIC in the wall: Egypt Joins the BRICS New Development Bank. JWR’s Comment: Egypt wants full membership, so BRICS will presumably become either “BRICES” or “BERICS”.
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Binance sees $1.9 bln withdrawals in 24 hours.
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CNBC: SEC issues new guidance requiring companies to disclose cryptocurrency risks.
Tangibles Investing:
Caleb sent us this: 270,000 homebuyers who bought in 2022 are underwater on their mortgage.
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Record Surge In Rent Delinquency: Up 7% In October, Totaling 37% For U.S. Small Businesses.
Provisos:
SurvivalBlog and its Editors are not paid investing 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!