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 California’s $20 minimum wage law. (See the Economy & Finance section.)
Precious Metals:
Despite some profit-taking, the precious metals bull market is looking more solid with every passing week. At last glance, on Thursday evening, 11 April:
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See this April 3rd article, from Bloomberg: Gold Tops $2,300 After Powell Reiterates Rate-Cut Path This Year. JWR’s Comments: In my estimation, the current bull market in metals stems from fears of a Third World War and a weaker Dollar more than from any measly Federal Reserve shifts in interest rates. Take heed: The Fed’s Open Market Committee (FOMC) is now stuck: They cannot substantially raise rates, or they will make it impossible for the US Treasury to service the enormous (and rapidly growing) national debt. And they cannot substantially lower rates, for fear of re-igniting inflation. While they dither, the precious metals bull will begin to pick up speed.
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At Zero Hedge: Gold’s Defiance Of Real Yields Can’t Last Unless Trouble Brewing.
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The Costco Shoppers Putting $2,000 Gold Bars in Their Carts.
And, from CNBC: Costco selling as much as $200 million in gold bars monthly, Wells Fargo estimates.
Economy & Finance:
At the Whatfinger.com news aggregation site: California’s $20 minimum wage law forces small businesses to close and FIRE workers. “Thoughts it was an April fools joke” People with common sense understood this would likely happen…
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A Fox News Interview: Mike Rowe details ‘unintended consequences’ from CA’s $20 minimum wage: ‘Bad look for the governor, Panera’.
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