Of the four business cycle phases since 1973, stagflation is the most supportive of gold, and the worst for stocks, whose investors get squeezed by rising costs and falling revenues.
Hemingway on bankruptcy: It happens “gradually, then suddenly.” Dalio’s data confirms the U.S. debt situation is deeply problematic, with several scenarios where it goes critical quickly.
We have fallen off a deficit cliff—one so steep and deep that it makes the massive deficits deployed to escalate the economy back out of the Great Recession look like half-pints.
Data from the People's Bank of China shows it bought gold again in September. Gold reserves rose by 26 tonnes, boosting reported net buying to 181 tonnes so far this year.
One of the ‘supports’ for the gold price was the release of FOMC minutes yesterday, something that once upon a time would have done a bit of a number on the price of gold.
History through a monetary lens is far more accurate than any other lens one can use. The farmers and the industrial workers lost to the Eastern Bankers and “the Flying Monkeys.”
