Those hoping to hear Powell say why the Fed is taking such extreme measures when the economy is estimated to be growing at 2.9% will have to wait. Here’s why… […]
The post Atlanta Fed Lowers Q1 2020 GDP Estimate On March 17th From 3.1% To 2.9% appeared first on Silver Doctors.
Whither from here? by Keith Weiner via Monetary Metals We got hate mail after publishing Silver Backwardation Returns. It seems that someone thought backwardation means silver is a backward idea, or a bad […]
The post Keith Weiner: Is Now A Good Time To Buy Gold? appeared first on Silver Doctors.
Goldman Sachs says the US will conquer the epidemic in 60 days. Here’s more… submitted by Eric Zuesse According to https://www.worldometers.info/coronavirus/country/china/, which obtains its information from only the most reliable sources, here […]
The post China Nearly Conquered Coronavirus Epidemic In 50 Days, US Will Do It In 60? appeared first on Silver Doctors.
CNBC/Al Lewis/3-14-2020
“While new risks could emerge, none of the main sources of recent recessions — oil shocks, inflationary overheating, and financial Imbalances — seem too concerning for now. As a result, the prospects for a soft landing look better than widely thought.” – Jan Hatzius and David Mericle, Goldman Sachs (12-31-2019)
USAGOLD note: As the poet reminds us – “The best laid plans of mice and men often go awry.” That is why the wise mouse stores for the economy’s winter months. The report quoted above was published less than three months ago.
Bloomberg/Danielle Martino Boothe/3-10-2020
“But if yields on benchmark 10-year Treasury notes go to zero – a no longer ludicrous suggestion after Russia walked out of the OPEC+ meeting without a deal — then all of those key roles get upended. Especially hard hit will be banks, insurers and pension systems worldwide.”
USAGOLD note: Martino Booth, who has consistently advocated gold ownership as a disaster hedge, outlines the forces at work in the financial system which could spell disaster for pension funds and create the prospect for federal government bailouts.
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Bridging the ‘Fourth Turning’ with Gold
It began in 2008. It is scheduled to end in 2028.
What happens between now and then?
“The fourth turning, is the final season of history, if you will, the final generation. And that is the period of crisis. That is the period when we tear down institutions that we’ve built, everything that’s dysfunctional. And we sort of rebuild things from scratch again. And it usually follows a period where – it’s bound up in a period – where there’s complete disgust, complete distrust with what we have.” – Neil Howe, co-author The Fourth Turning (from a MacroVoices interview, August 2017)
We first published this article in October 2018. It is as relevant today as it was then though the message has taken on a greater degree of urgency after the events of the past few weeks. A link to the full MacroVoices interview is included with the article.
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MarketWatch/Shawn Langlois
“What we have now is really two epidemics. We have an epidemic of the coronavirus, but we also have an epidemic of fear based around a narrative that is not necessarily keeping up with scientific reality. And, this narrative has been quite striking. It’s a dangerous time for the stock market.” – Robert Shiller
USAGOLD note: Schiller’s assessment appears a statement of the obvious, but to a large extent even the warnings of a Nobel laureate are a cry in the wilderness for the majority of investors. Most, in fact, are staying put while the fund managers scramble for the safety of bonds and gold.
Repost from 3-11-2020
Bloomberg/Stephen Spratt, Ruth Carson, and Dana El Baltaji
“The entire U.S. yield curve fell below 1% for the first time in history as rising expectations that the Federal Reserve will cut policy rates to zero in the coming months drove investors to reach for longer-dated securities.”
USAGOLD note: In nominal terms, it looks pretty bad for savers. In real terms, when the inflation rate is taken into consideration, it looks even worse. This article concludes that we are going below zero on rates.
Chart courtesy of the St. Louis Federal Reserve [FRED]
Source: Board of Governors of the Federal Reserve System (US)
Repost from 3-12-2020
