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 Really Big Helicopter Drop of Money.
Precious Metals:
Gold and silver prices down as risk appetite up late this week
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Physical Gold and Silver to Continue to Soar on Massive Demand and Money Printing Everywhere
The Really Big Helicopter Drop of Money
It was Milton Friedman who famously coined the term “helicopter money” and Ben Bernanke was the first Federal Reserve Chairman to seriously consider using it. Well, figuratively, Uncle Sam has borrowed one of those really big heavy lift helicopters, from Russia. (Pictured.) I found several of the following news items aggregated in the highly-recommended McAlvany Intelligence Advisor Daily G-2 e-letter.
The U.S. has thrown more than $6 trillion at the coronavirus crisis. That number could grow. JWR’s Comment: A trillion here, and a trillion there, and pretty soon you’re talking about real money. (I’m of course amplifying Senator Everett Dirksen’s famous yet supposedly misattributed comment: “A billion here, and a billion there, and pretty soon you’re talking about real money.”)
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Florida woman trying to withdraw stimulus check finds $8.5M in her account
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Gavin Newsom announces coronavirus cash payments to illegal immigrants. JWR’s Comment: Only a life-long Democrat would consider incentivizing illegals aliens to stay, just as unemployment is spiking at the highest level since the Great Depression.
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Zero Hedge: The $349 Billion Small Business Loan Program Is Now Out Of Money.
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Coronavirus Relief: Proposed Bill Would Give Americans $2,000 A Month During Pandemic
Economy & Finance:
JohnnyMac, at American Partisan: Our Economic Future – Q3 & Q4 2020
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At Zero Hedge: Story Time 1929-1936
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At Wolf Street: How Will Covid-19 Lockdowns Hit the Housing Market? It Gets a Little Clearer
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And another from Wolf, with charts: Here’s Where Retail Sales Spiked and Collapsed in 11 Mind-Blowing Charts of Lockdown Land
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Overcapacity / Oversupply Everywhere: Massive Deflation Dead Ahead. JWR’s Comment: Be prepared for deflation followed by mass inflation, as most of the central banks attempt to inflate their way out of this mess.