The BoE has made its pivot much too soon…and now they will make their economy even more dysfunctional than the US. But here, we are grateful to drug addicts, dumbbell central bankers, and bitter ex-spouses. The world needs jackasses…to show it where not to go and what not to do.
No gold investor could’ve wished for better. Lockdowns, epic fiscal and monetary stimulus, outright monetary financing by central banks, inflation, recession, stagflation, central banks so far behind the curve they’re unlikely ever to catch up, extreme negative real interest rates, a crash in other safe-haven assets like bonds, and the prospect of nuclear war. What could possibly be better for the gold price?
The Australian Competition & Consumer Commission wants to canvass further views on the proposed network deal between telco giants Telstra [ASX:TLS] and TPG.
Over the last 12 months, the interest on federal debt rose above US$700 billion per year. As the Fed raises interest rates, the number will soon go over the cost of Social Security and Pentagon spending — combined. Meanwhile, inflation reached 40-year highs.
ASX 200 closed 1.23% down on Friday as Wall Street stocks tumbled overnight. The S&P 500 closed at a new low for the year as bond yields jumped.
As predicted last week, stocks began trading yesterday with the Dow at less than 30,000. Next target: 20,000.
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