Month: May 2022
Gary Savage
Wed, 05/25/2022 – 04:25
MarketWatch/David Rosenberg/5-23-2022
“The U.S. stock and the bond markets are finally in the process of catching up with our views. We always believed these past two years represented a fake bull market built on sand, not concrete. And frankly, we also remain steadfast of the view that the inflation scare is going to pass very soon — the bull market is in extrapolation and hyperventilation by economists, strategists, pundits, and media types who can’t seem to see past the tips of their noses.”
USAGOLD note: Rosenberg sees the slowdown as already underway, cratering stocks and increased demand for bonds. He does not mention gold in this short article. However, in early 2020 he predicted it would soar to new historic highs – with $3000 “not beyond the realm of possibility.”
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Bloomberg/William Horobin/5-23-2022
“Raising interest rates is not going to solve the problem of inflation. It’s not going to create more food. It’s going to make it more difficult because you aren’t going be able to make the investments.” – Joseph Stiglitz, Columbia University
USAGOLD note: So where does this leave us? We are reminded of Keynes’ realization late in life. “I find myself more and more relying for a solution of our problems on the invisible hand which I tried to eject from economic thinking twenty years ago.”
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- Biden administration announces effort to stop Pebble copper and gold mine from being built Anchorage Daily News
- Biden plan would block Pebble gold mine – MINING.COM MINING.com
- E.P.A. to Block Pebble Mine Project in Alaska The New York Times
- Biden EPA proposes protections for Alaska’s Bristol Bay The Washington Post
- EPA proposes restrictions in fight over Alaska mine ABC News
- View Full Coverage on Google News
- Gold falls as dollar strengthens ahead of Fed minutes CNBC
- Gold Price Forecast: XAU/USD slumps towards $1840s as traders book profits ahead of FOMC minutes FXStreet
- Gold, silver see price declines ahead of FOMC minutes Kitco NEWS
- Gold books worst fall in two weeks, snaps 4-day rally as Fed minutes loom MarketWatch
- PRECIOUS-Gold prices muted as Fed minutes fail to surprise Nasdaq
- View Full Coverage on Google News
Inflation Explained on a Napkin
People come up with all kinds of excuses for inflation. First, they told us there was no inflation. Then they insisted that it was transitory. Then they claimed it was caused by greedy corporations. Later they shifted the blame to Putin. But none of this gets to the root cause of inflation – the expansion […]
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