Everybody was thrilled to get stimulus checks in the mail during the COVID-19 pandemic. “It’s free money!” many exclaimed. But nothing in life is free. This includes “free” things handed out by the government. So today, you’re paying for those stimmy checks and the government pandemic spending spree. I’ve written that American consumers are paying more […]
The post Inflation Tax Costing US Households $433 Per Month first appeared on SchiffGold.
There are a number of signals that the US economy is getting weaker even as inflation gets stronger. In other words, we are hurtling toward stagflation. Target announced plans to cancel orders from suppliers and slash prices to clear out amassed inventory. Why? Because consumers aren’t buying their stuff – particularly hardline goods such as […]
The post We Are Hurtling Toward Stagflation first appeared on SchiffGold.
Daily Reckoning/Jeffrey Tucker/6-2-2022
“Have a look at the shock on people’s faces as they leave the grocery stores these days, or the look as they stand filling up their tanks at the gas station. Their jaws drop and they wonder what is happening to the world.”
USAGOLD note: Tucker ends up with the prospect that the Biden administration will end up fighting inflation with inflation. “You end up with a mind-blowing system,” he says, “in which government is forever printing up the currency to compensate people for the consequences of previous money printing.” You will need to go to the link to see how he gets there.
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Financial Times/Martin Arnold/6-5-2022
“The European Central Bank is this week set to strengthen its commitment to prop up vulnerable eurozone countries’ debt markets if they are hit by a sell-off, as policymakers prepare to raise rates for the first time in more than a decade. The bulk of the 25 governing council members are expected to support a proposal to create a new bond-buying programme …”
USAGOLD note: So –– while the Fed drops its bond-buying program, the ECB extends its…… Both scenarios offer an inducement to buy gold for hedging purposes.
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