In the first seven months of this fiscal year, the federal budget deficit grew 38% over the same period last year. The Treasury ran a $541 billion deficit from October through April, compared with $385 billion during the same period a year earlier. Part of the increase was attributable to a shift in the timing
The World Gold Council likes to emphasize central bank gold buying. However, central banks are not the main drivers of gold demand. Individuals are.
The business channels were all aglow last week when the Bureau of Economic Analysis (BEA) reported that the Gross Domestic Product grew by 3.2% in the 1st quarter. Trump supporters were ecstatic. However, yesterday GDPNow, an analysis based a methodology similar to the one used by the BEA, posted a projected increase of only 1.2%
Sometimes it is just as important to know what NOT TO BUY as it is to know what to buy. High premium coins promoted by telemarketers fall into the category of what not to buy.
Opposition to publicly-traded corporations buying back their stock is developing into a hot political issue that may sink the stock market. The amount of money used in buybacks is astounding.
Supposedly, the White House is about to promise a balanced budget by 2034. I’ve been down that road many times in my 45 years of monitoring federal budgets, and it never happens. Making this promise even more ridiculous is that it is based on a projected GDP growth of 3% for the next 15 years.
Want a reliable indicator of where the economy is headed? Look no further than the chart below.
Congress needed to raise the debt ceiling by March 2 but failed to do so. Now, the Treasury cannot sell bonds to pay government bills, such as payments to bond holders and federal benefit recipients.
Currently there is much speculation about whether the Fed will continue quantitative tightening or return to quantitative easing. In 2018, newly appointed Fed Chair Jay Powell indicated that 2019 would see four rate hikes. However, he has since backed off on that forecast.
Longest bull market in stocks set to end as malinvestments surface because of massive money creation by world’s central banks.