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 credit card balances and default rates. (See the Economy & Finance section.)
Precious Metals:
At Gold-Eagle.com: Gold: The Chickens Come Home to Roost.
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Mike Gleason, at Gold-Eagle.com: Fed Continues Tough Talk; Silver & Platinum Look Most Undervalued.
Economy & Finance:
Linked over at the Whatfinger.com news aggregation site: Commentator Game Of Trades notes: Credit card defaults are rising FASTER than the 2008 Financial Crisis.
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Credit card debt has reached a record high. Here’s what it means for the economy.
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Why some US bank deposits are held up days after ‘processing error’ delayed 850,000 payments.
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Flom the leftist NBC News: 36-hour shifts, 80-hour weeks: Workers are being burned out by overtime.
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And Wall St. Silver posted this, at X-Twitter: Just the interest on the national debt consumed 40% of all individual income tax revenue in October! US Treasury is spending almost twice as much on interest as it did a year ago. It’s unsustainable but Washington won’t stop spending – do you think it ends with default or inflation?
