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Tag Archives: recession

U.S. Recession Began In February!

A Pfennig For Your Thoughts June 9, 2020 * Currencies and metals rest on Monday…  * The BLS points out a footnote that was a part of their jobs report…  Good Day… And a Tom Terrific Tuesday to you! Another day in paradise, is what it seemed to be yesterday, with Blue umbrella skies, very warm sunshine, and it was the end of our run of warm, dry days, as the remnants of the Tropical Storm Christobal has come our way… But with the sun you have to have a little rain sometime! Rainy days...

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The American Economy Just Before Covid-19

The determination by the National Bureau of Economic Research that the American economy entered into recession in February 2020 was a surprise for many. The recession started before the World Health Organization declared a pandemic and a full month before President Trump declared a state of emergency. But is this early recession really surprising? In a feature article to appear in the forthcoming (Summer) issue of Regulation, which will hit the newsstands before the...

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The BLS Upsets The Applecart!

A Pfennig For Your Thoughts June 4, 2020 * Gold & Silver get whacked on Friday…  * The Recent currency rally gets derailed on Friday…  Good Day… And a Marvelous Monday to you! What a wonderful chamber of commerce weekend for us here in the Midwest!! We had all kinds of different people here to swim this week, but none made my heart open up and sing joyous songs, than my 8 month old granddaughter, Evie May… That child’s smile can make a mean old man wilt… Not that I’m a mean old man,...

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US Stock Market Sets Up Technical Patterns – Pay Attention

The recent “melt-up” in the US stock market after a moderate downside price move in early May 2020 has set up a number of technical patterns that traders need to pay attention to.  This melt-up trend may continue for a bit longer, but price levels and actions are beginning to set up very clear patterns that warn of potential weakness in the future. First, no matter how we attempt to spin the data, the US economy is very likely to fall into a moderate recession after the COVID-19 virus event...

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India’s Bond Rating Gets Cut Just Above Junk!…

A Pfennig For Your Thoughts June 2, 2020 * Currencies again rally VS the dollar on Monday! * Gold & Silver continue to move toward Breakout levels…  Good Day… And a Tom Terrific Tuesday to you… I sure hope you’re safe wherever you may be… I simply can’t stand to watch TV for more than a small amount of time, or peruse through Twitter, or check out the new items on Bloomberg… They all contain somebody’s viewpoint on something that I’ll never understand. And I’ll just leave that there…...

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How Does Thoughts From The Butler Patio, Sound?

A Pfennig For Your Thoughts May 19, 2020 * Currencies and stocks rally on antibody news…  * Gold gets taken down after reaching $1,775….  Good day… And a Tom Terrific Tuesday to you…. Well, I sure did stir up a hornet’s nest with my letter yesterday… If today were April 2nd, I could have said today, April Fool’s! But it’s not April 2nd, and there is no April’s Food prank… I said what I said about the future of currencies as we know them today, and I’m not taking it back! Some of you were...

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When Will Traders Admit We’re In A Recession?

A Pfennig For Your Thoughts April 15, 2020 * the dollar fights back in the overnight markets* The boys in the band come back to work…. UGH! Good day… And a Wonderful Wednesday to you… This’ll be the last Pfennig this week, as I have been summoned by my oncologist to her office tomorrow, bright and early…. I told you Monday that I had scans last week, and in those scans they saw the tumor in mouth had grown (I could have told them that!), but no other signs of cancer in me, which is good…. 7...

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Peter Schiff: What Is the Economy Going to Recover to?

A lot of people still seem to think at some point, Donald Trump will flip a switch and the government will start humming again. As Peter Schiff explained in his podcast Friday that’s not going to happen. The best we can hope for is recovering from a depression to the recession we were going to have anyway.We got the monthly jobs report for March on Friday. It was bad. But not as bad as what we’re going to see in April.The economy lost 701,000 jobs last month. That was the first contraction...

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Trader’s Dilemma: To Sell Dollars Or Not To Sell Dollars!

A Pfennig For Your Thoughts April 2, 2020 * Currencies drift again on Wednesday…. * Tomorrow is a Jobs Jamboree Friday! Good Day… And a Tub Thumpin’ Thursday to you! WOW! This is the first time I’ve written on a Tub Thumpin’ Thursday in a month of Sundays! Well, I guess I didn’t tick too many people off yesterday, as the responses in the Pfennig Replies box were more supportive than anything… Thanks to all who sent along well wishes for getting home safely…. I’ve always been someone that you...

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