Tuesday , November 12 2019
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Tag Archives: Key Gold Headlines

Pending Home Sales Tank in November

Pending home sales hit the lowest level in nearly five years in November, a sign that the US housing market will continue to get uglier in the near future.Not too long ago, we reported that the air was starting to come out of housing bubble 2.0. As just one example, home sales in California hit the lowest level in a decade. And it’s not just California.Now we’re seeing more signs of trouble. Pending home sales tanked in November, according to data released by the National Association of...

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What Did European Central Bank Quantitative Easing Accomplish? Not Much

We often criticize the Federal Reserve for its three rounds of quantitative easing. Coupled with artificially low interest rates, Fed QE stimulus — essentially money creation –pumped up all kinds of asset bubbles. Now that the US central bank is trying to tighten, we’re beginning to see the air seep out of those bubbles.But when it comes to QE, the Federal Reserve has nothing on the European Central Bank. The ECB just announced the end of its QE program this month. The ECB’s QE purchases...

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Student Debt Bubble: 43% of Loans “In Distress”

Student loan debt has grown to over $1.5 trillion. And that just accounts for loans held by Federal Student Aid. It doesn’t include private loans. Meanwhile, the Department of Education says 43% of those government-backed loans are considered “in distress.”In a speech last month, Education Secretary Betsy DeVos put the current level of student debt in perspective.One-point-five trillion dollars is almost impossible to fathom. So, let me put it this way: $1.5 trillion is more than $10,000...

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Merry Christmas from Uncle Sam — You Got More Debt!

Between Christmas 2017 and Christmas 2018, the US government added a staggering $1,370,760,684,441.54 to the national debt, according to Treasury Department figures.If you split that up between all American, your share of Uncle Sam’s 2018 spending spree comes to about $4,178.10.Merry Christmas!You’re welcome.CNSNews.com came up with that figure by dividing the Christmas-to-Christmas debt increase by the latest population estimate from the US Census Bureau (328,082,386). In order to pay off...

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Peter Schiff: It’s Not Just the Stock Market; It’s the Economy

There was no Santa Clause rally on Christmas Eve. Instead, US stock markets continued to tank. The Dow Jones dropped 653 points. The S&P 500 fell another 2.7% and officially entered into bear territory. It was the worst Christmas Eve’s on Wall Street in history. The put it in stark terms.By the end of Monday’s shortened holiday trading session, the great bull market that began in the lows of March 2009 lay lifeless, capping a three-week, 16 percent sell-off of the S&P 500.”As...

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Leveraged Loan Market Comes Unglued

As put it, the $1.3 billion leveraged loan market has come unglued.“Leveraged loans” are made to firms already deeply in debt. Think subprime loans for corporations. As with any risky loan, they could be difficult to either collect or resell in a downturn, putting both the borrower and lender at risk.According to the S&P/LSTA Leveraged Loan Index, the total leveraged loan market has doubled since 2008 and has grown by about 17% this year alone. A record 59% of these loan rate B+ or...

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Peter Schiff: NASDAQ in Bear Market

What the Federal Reserve doesn’t understand about the market is that the market is going to continue to keep falling until they cut rates again and do another round of quantitative easing. The market is acting like a drug addict in withdrawal thanks to the drugs (easy, cheap money) the Fed gave everyone during the Obama presidency, but have had it taken away during the Trump presidency (Fed rate hikes – quantitative tightening). Now the drug addict (stock market) wants its drugs...

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Nasdaq Officially Dips Into Bear Territory

The Nasdaq officially dipped into bear territory on Thursday.The tech-heavy index rallied off its interday lows to close just a rounding error away from official bear status — for now. The Nasdaq has lost nearly 20% of its value in just four months. called it “the latest sign that the bull market that began in the depths of the financial crisis a decade ago could be coming to an end.”The Nasdaq is the first of the three major US indexes to fall into bear territory. The Dow Jones and the...

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The Federal Reserve Just Stuck a Fork in the Stock Market

As expected, the Federal Reserve nudged interest rates up another 25 basis points to 2.5% during its December meeting this week. It also scaled back its projected hikes in 2019 from three to two.Peter Schiff said Jerome Powell and company just stuck a fork in the stock market.Even though the central bank appears to be slowing its tightening pace, most analysts thought Powell came off more hawkish than expected. Many analysts thought the Fed would signal a pause in 2019 or...

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China and Japan Dump More US Debt

China and Japan dumped more US Treasuries in October, even as the federal government continued to run up its debt.Chinese holdings of US Treasuries dropped for the fifth straight month, sinking to the lowest level since May 2017, according to data recently released by the Treasury Department. The total amount of US debt held by China fell from $1.15 trillion to 1.14 trillion. Over the past year, the Chinese have shed $50 billion in US debt.Japan has also been selling US Treasuries. That...

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