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Tag Archives: recession

Uncle Sam Is Spending Like We’re In Recession; What Happens When We Really Are?

Last week we got the updated federal budget deficit numbers. At $867 billion, the 2019 fiscal year budget shortfall has already eclipsed last year’s deficit of $779 billion.The out of control spending and spiraling deficits are concerning enough on their own terms, but they become absolutely horrifying when you consider that these budget shortfalls are happening during an economic expansion. You would normally expect numbers like this during a major recession.That raises an important...

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Gold Gets Whacked, So What Are You Waiting For?

A Pfennig For Your Thoughts August 19, 2019 * The Fed’s Jackson Hole Boondoggle is next week…* U.S. Retail Sales are strong, and that has the dollar bugs dancing! Good Day… And a Marvelous Monday to you! Brother! I guess I need to go back to school to learn how to read a calendar, eh? Last Thursday, I erroneously said, that next week (this week now) would lead us to the Labor Day weekend.. Nothing like skipping a week, eh, Chuck? What a dolt I am at times, eh? My wife hosted a baby sprinkle...

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Peter Schiff: There’s No Way Out and It’s Political Disaster for Trump

Peter Schiff appeared on Fox Business last week after the yield curve inverted and the Dow dove 800 points. Peter said the looming economic disaster for the US will turn into a political disaster for Pres. Trump.Peter started out the interview asserting that everything the Federal Reserve has done since the 2008 financial crisis was a mistake.All they did was succeed in making all the problems that caused that crisis worse. Now, they covered it up by inflating an even...

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Recession Warning! SchiffGold Friday Gold Wrap Aug. 16, 2019

The bond market flashed a major recession warning sign as the yield curve inverted this week. Meanwhile, Trump whipsawed markets when he appeared to blink in the never-ending trade war with China. That made for an interesting week for gold. In this week’s Friday Gold Wrap podcast, host Mike Maharrey breaks down the events of the last few days and their impact on precious metals. He also remembers an important day in history that went mostly unnoticed in the mainstream.The SchiffGold Friday...

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Yield Curve Inversion: Are Investors Really “Fleeing to Safety” from a Looming Recession?

The media and economics talking heads are worrying about the current inversion of the yield curve, the graph of market-set rates of return on U.S. government securities of increasing lengths. Inversion is often interpreted as a sign that the stock market is expecting a recession—though, as Paul Samuelson quipped, the stock market has accurately predicted nine of the last five recessions. Usually, the yield curve slopes upward, reflecting investors’ demand for better...

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Yield Curve Inverts Flashing Recession Warning; Stocks Plunge

The yield on the 10-year Treasury fell below the yield on the 2-year for the first time in 12 years, stoking recession fears and tanking stock markets.Yield curve inversions have preceded all nine recessions since 1955.  This was the first time the 10-year Treasury yield has dropped below the 2-year yield since June 2007 – the cusp of the Great Recession.We saw other yield curves invert earlier in the year. In March, the yield on 10-year Treasurys fell below the yield on 3-year bonds for...

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Peter Schiff: The World Will Drown in an Ocean of Inflation; Gold Is Going Ballistic

The gold market took a one-two punch on Tuesday as Trump made some concessions in the trade war and inflation numbers came in a bit higher than expected. Peter Schiff talked about it in his latest podcast, saying gold traders still don’t understand the gold rally.Stock markets surged as gold and silver dropped after US trade representatives said they would delay some of the additional tariffs recently announced by President Trump. The Dow closed 372 points higher....

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Gold Rebounds After Some Profit Taking!

A Pfennig For Your Thoughts August 12, 2019 * The dollar remains in control, and It just doesn’t seem right! * The U.S. Data Cupboard is chock-full-o-data this week! Good Day… And a Marvelous Monday to you! What a good weekend for me, weather-wise, and so on… The Cardinals found some home cooking to their liking at the hands of the Pirates, we celebrated Delaney Grace’s 12-th birthday, and I tried a new, to me, BBQ restaurant last night that was pretty good… (I judge all BBQ Against my own,...

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Peter Schiff: The Trade Is Get Out of the Dollar and Look at Gold (Video)

Right before the Federal Reserve raised interest rates for the last time in December 2018, Peter Schiff predicted the next move would be a rate cut. At the time, Fox Business anchor Liz Claman promised she would bring Peter back on if he was right.He was. And she did.The Fed cut rates for the first time in over a decade last week. Peter appeared on to talk about the cut, reiterating that it will not stop the coming recession. He also offered some advice to investors.Of...

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It’s Been a Great Recession for a Few; Let’s Do it All Again!

This month the economic expansion brought to you by your Federal Reserve and by US government largess becomes the longest expansion in the history of the United States! That’s something, right? Something? Let’s take an honest look at what we now call great. By “the longest expansion” we mean the longest period in which US GDP has been growing without a recession. Now, that’s something to crow about, right? Not so fast for many reasons. It’s also been the most anemic expansion on the books,...

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