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Tag Archives: economy

The Crossroads Is Looming! SchiffGold Friday Gold Wrap May 6, 2022

The Fed hiked rates 0.5% this week in an effort to stem the inflation tide. But the economy already looks shaky and the central bank has barely started this inflation fight. Friday Gold Wrap host Mike Maharrey breaks down the messaging that came out of the Fed meeting and concludes the central bank is getting closer and closer to a crossroads. What will the central bank do? And what will it mean for the economy?The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the...

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Michael Every: A Global “Meta-Crisis” Is Unfolding, Expect Seismic Disruptions In…Everything

WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Wealthion’s endorsed financial advisors at https://www.wealthion.com 2022 has already seen more surprises, uncertainty and instability than most thought possible when the year started. But what if the changes underway now are vastly more significant than we realize? Michael Every, Global Strategist at Rabobank, thinks that may indeed be the case. From his perspective, the geopolitical world order is in the process of...

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Buckle Up for a Crashing Economy and More Inflation

Jerome Powell began hinting that inflation might be a problem last August. In November, Powell retired the word “transitory.” But here we are in May and the Federal Reserve still hasn’t done anything substantive to address the inflation problem.And now it may be too late. It’s probably time to buckle up for more inflation – and perhaps a crashing economy.Powell and Company have been talking tough for months, but there hasn’t been a whole lot of action. In March, the central bank raised...

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The Fed Takes a Weak Swing at Inflation

The Federal Reserve came through with the second rate hike of this tightening cycle, bumping up the Fed Funds rate by 0.5%. It was the biggest interest rate boost by the Fed since 2000. But given the extent of the inflation fight, this hardly seems like a bold, aggressive move. In fact, it was a weak swing that looks more like shadow boxing. And one has to wonder just how long the Fed can stay in the ring.The 50 basis point hike was expected and there was some speculation that the Fed...

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Student Loan Forgiveness: Who Pays?

Student loan forgiveness has been in the news lately. There are a number of different plans being floated, from blanket debt repudiation up to various amounts, to more limited income-based schemes. But nobody ever talks about a key question: who is going to pay for it?Well, you will.I think most Americans think Joe Biden or Congress can just wave some kind of magic wand and student loan debt will just disappear. Poof! No harm, no foul. In fact, I think a lot of people believe student loan...

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Has the Fed Already Pricked the Housing Bubble?

The Federal Reserve has raised rates once – a mere 25 basis points (with another hike on the table today). So, it’s just getting started, but has it already popped the housing bubble? It sure looks that way. The question is how long will it take for the air to really start coming out.As mortgage rates push up, mortgage applications continue to fall. As of last week, applications were down 17%, and at the lowest level since May 2020 when the economy was shut down for COVID, according to...

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Peter Schiff: GDP and Stocks Down, Inflation Up; That Equals Recession

GDP contracted in Q1. The stock market has been tanking. The inflationary fire continues to burn. As Peter Schiff explained in his podcast, this all signals a recession. And yet the Federal Reserve is on track to raise interest rates. How is this going to work?Friday was a bad day for stocks, closing out a bad month for stocks, particularly for the NASDAQ. Peter called it the “tech wreck.”Peter was warning about the impact of rising interest rates and inflation on tech stocks before the...

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“The Economy Is Strong!” and Other Myths and Rumors: SchiffGold Friday Gold Wrap April 29

Jerome Powell and other policymakers at the Fed keep telling us they can raise interest rates and slay the inflation dragon because the economy is strong. But these central bankers have a long history of being wrong. And as host Mike Maharrey explains in this episode of the Friday Gold Wrap podcast, the recent GDP numbers undercut this latest Fed narrative. He also talks about a startling confession from the IMF director and Q1 gold demand.The SchiffGold Friday Gold Wrap podcast combines...

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Gold Demand Surges in First Quarter

Gold demand surged to kick off the year, up 34% year-on-year in the first quarter of 2022.Total demand came in at 1,234 tons in Q1. That was the highest quarterly demand since Q4 2018, according to the World Gold Council’s Gold Demand Trends report. Demand in the first quarter of this year was 19% above the 5-year average.According to the WGC, surging inflation and the Russian invasion of Ukraine were key factors driving demand.The price of gold was up 8% in Q1.Gold inflows into ETFs...

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Peter Schiff: The Fed’s Ego Is the Only Thing Bigger Than This Bubble

The Fed insists it can tighten monetary policy and tackle inflation without hurting the economy. Federal Reserve Chairman Jerome Powell and other central bankers claim the economy is strong enough to handle higher interest rates. Peter Schiff said this is just another in a long line of arrogant miscalculations by the Fed. As the central bank begins to raise rates and gets set to shrink its balance sheet, some analysts worry that the Fed will make a mistake and tighten too much. But Peter...

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