Tax revenues have been on the rise for about 18 months. As speculated previously, if this windfall was temporary, it would have shown up with a deficit in April due to a higher than normal tax returns surge. April is historically a positive month for the Treasury, but a surge in tax returns leading to […]
The post Federal Surplus: Did the Treasury Just See Peak Revenue? first appeared on SchiffGold.
Americans are feeling the pinch of inflation. Wages are up but consumers are worse off. Average hourly earnings have risen by 5.5% over the last year. But factoring in rising costs, real earnings are down 2.6%. So, how are Americans making ends meet? They’re charging it. Consumer debt continues to climb at a staggering rate. […]
The post Americans Are Using Plastic to Make Ends Meet as Prices Continue to Rise first appeared on SchiffGold.
The March Consumer Price Index (CPI) was 8.5% annually, the highest since December 1981. But the mainstream narrative was that inflation had probably peaked because core inflation, stripping out more volatile food and energy, “only” rose by 0.3%. Mainstream pundits reasoned that the oil shock in the wake of Russia’s invasion of Ukraine primarily drove […]
The post Peak Inflation? Not So Fast! first appeared on SchiffGold.
South China Morning Post/Cheryl Heng/5-9-2022
‘Investors should buy commodities as a hedge against inflation and geopolitical risks, with a composite basket of raw materials likely to help protect their capital as stocks and bonds failed to offer sufficient diversification benefits, according to JPMorgan Private Bank. An index tracking 23 commodities from gold to crude, copper and soybeans across six different sectors tracked by Bloomberg could jump by 10 to 15 percent over the next 12 months, it predicts.”
USAGOLD note: Looks like JP Morgan has decided to join Goldman Sachs on the commodities bandwagon. It points to a number of concerns pushing the trend (a few of which are mentioned in the headline) saying they will keep the “emotional premium in gold alive.”
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MarketsInsider/Matthew Fox/5-9-2022
“There is seemingly no corner of the market that is providing a safe haven less than halfway into 2022, and stocks, bonds, and the once high-flying cryptocurrency market are all getting crushed. This means that diversification — a key tenet of a healthy portfolio — has failed to protect investments from a trifecta of risks that include rising interest rates, record inflation, and slowing economic growth.”
USAGOLD note: There is one investment up so far this year against that trifecta of risks. Gold. It’s up over 2%. That doesn’t sound like much until you compare it to the DJIA being down 11.6% and the bond market being down almost 20.6%. In relative terms, that’s a fairly significant swing.
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