The 1929 Crash Is Happening Again — And No One Sees It
Democrats Have Already Won the Shutdown, but It Won’t Be Cheap
Two big data points in the headlines this week: 1) The average cost of a family health insurance plan will be $27,000 for coverage next year and 2) The federal debt grew faster than any time other than the pandemic and surpassed $38 trillion Wednesday.
Both of these are objectively bad and both carry substantial political danger, but only one of them is likely to get much attention as the government shutdown sinks into its fourth week.
There are a lot of ways the current shutdown is different from its predecessors since the tactic came into common use 35 years ago.
We’ve never seen a president use a shutdown as a pretext for eliminating entire federal bureaus, nor a president so nakedly target the spending priorities of his congressional adversaries… (Continue to full article)
Lombard Odier Expects Gold Prices to Reach $4,600 by 2026
Lombard Odier EMEA’s chief investment officer expects that gold prices could reach $4,600 by 2026.
The firm says gold is becoming more important for portfolio diversification as global financial markets change.
They note that government bonds are less popular for diversification, which has led investors and central banks to buy more gold.
The outlook is based on continued gold buying by central banks and ongoing geopolitical changes…. (Continue to full article)
Up to $3,300 in Savings Accounts to Be Wiped Out Without Grace Period Unless Action Taken
AMERICANS may lose up to $3,300 in hard-earned cash from their savings accounts, potentially without a grace period, if they fail to take action before the year’s end.
While savings plans such as health savings accounts and flexible spending accounts come with tax advantages, they also come with certain risks
The high cost of health care is a major burden on American families.
Just under 50% of adults find it difficult to afford health care costs, while 25% admitted that they or a family member had trouble paying for health care in the last year, per a recent KFF poll.
Although health care can burn a hole in your wallet, tax-free savings plans like flexible spending accounts and health savings accounts exist to help lower health care costs for Americans … (Continue to full article)
68 Percent Of Americans Consider The Condition Of The Economy To Be “Poor” As Millions Of U.S. Consumers Reach Their Breaking Points
Millions of Americans are discovering that at some point the money runs out and the party is over. Vehicles are being repossessed at the fastest pace since the global financial crisis, foreclosure filings are up 18 percent compared to last year, and student loan delinquencies have soared into unprecedented territory.
Nobody can deny that economic conditions are deteriorating rapidly, and this has pushed vast numbers of U.S. consumers past their breaking points. So what is going to happen if economic conditions continue to deteriorate rapidly in the months ahead?
The American people are not stupid.
They clearly understand what is taking place, and they are not happy about it.
According to a brand new AP-NORC survey that was just released, a staggering 68 percent of U.S. adults consider the condition of the economy to be “poor”…… (Continue to full article)
Why Precious Metals Are So Volatile Right Now
Despite their well-earned reputations as stable assets and safe havens, gold and silver have become highly volatile in recent weeks, with sharp moves in both directions.
This marks a significant change in behavior and has sparked widespread discussion across the financial world, particularly after last week’s steep declines. Gold dropped from $4,400 to $4,000, a loss of about 9%, while silver fell from $54 to $48, or roughly 11%, all within just a couple of days.
This volatility was entirely foreseeable, however. I explicitly called for it back in August, at a time when the precious metals space was eerily calm and before gold’s $1,000-per-ounce surge in the fall. Today’s piece follows up on that earlier analysis, contextualizes the recent swings in precious metals, and explains why the current wave of volatility should settle down soon…… (Continue to full article)
