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In October, the US government will be unable to pay it bills if Congress does not raise the debt ceiling. The debt ceiling is the legal cap that Congress sets on the amount that the Treasury can borrow. Since 1960, the debt ceiling has been raised 78 times. During Donald Trump’s presidency, the ceiling was
David Stockman, who served as Ronald Reagan’s Budget Director 1980-1984, in this 23- minute video points out why the economy and stocks are headed for major downturns. Other nuggets gleaned from this video: ** Joy Rides never end well; ** World equities markets have topped $100 trillion; ** Earnings collapsed 30% in 2020, yet stocks
. . . not in stocks but in gold and silver. Actually, it’s been the right move to buy dips in the metals since 2016. But now the reasons for buying are evident.
Our Founding Fathers knew of the evils paper money and warned against its issuance.
House Speaker Nancy Pelosi unveiled a more than $3 trillion coronavirus aid package Tuesday, which would be the fifth this year. The House is expected to vote on it Friday, but Senate Majority Leader Mitch McConnell says there is no “urgency.” The package is an 1,800-page document, which offers something for everyone.
Investors who had never thought of buying precious metals are pouring into the metals, depleting inventories. Compounding the problem, the US Mint and the Royal Canadian Mint are closed, and they have not indicated when they will reopen.
1) Covid-19 is a severe supply side shock, but main street will bounce back once the public health separation orders are relaxed in the months ahead. The idea of a Depression is nonsense because main street capitalism does not have a death wish. Households and businesses will creatively find ways to cope, repair, replenish and
To “save the world’s economy” in the 2008 World Financial Crisis (WFC), the Federal Reserve led the world’s central banks in printing money, hiking its holdings of T-bills and other bonds – some quite specious – from $900 billion to $4.5 trillion, a five-fold increase.
I read many articles and newsletters about topics that may affect the gold/silver markets. The one I never miss is David Stockman’s Contra Corner. Stockman was Budget Director during Ronald Reagan’s first term. Below is the start of his blog post for Thursday, December 19, 2019. “The Turbulent Twenties begin 13 days from now. It
Although the Fed denies that it has begun QE4, it continues to inject freshly printed money into the markets, supposedly to keep the fed funds rate in the FOMC desired range of 1.5% to 1.75%. The Fed used three QE programs to avoid an economic crash in 2008. Still, the 2008 crisis is commonly referred
