When it gets bad enough for citizens and politicians to complain too loudly, the Fed will give in. Don’t expect any possible rate cuts to have a positive impact, though.
Comments from Fed chairman Jay Powell and a host of other current and former central bank policymakers this week suggest a rate cut could come in September.
The federal government spent $140.2 billion paying interest on the national debt in June. That is just over 30 percent of the month's total tax receipts.
Dent says, "This is...the greatest single and most global bubble burst in history. Everybody is hoping for the last thing that's going to happen, which is a soft landing."
We know change is coming. The question is how it will happen. The debt crisis will bring some very tough choices, but they may be only part of a longer list.
Grandich notes gold's shift to Asia has strengthened its market position, adding that both gold and silver now have equal importance, supported by global and U.S. political factors.
Gold consolidated above the psychologically important $2,400 level, on the back of markets starting to price in a interest rate cut in the US for September.
We can debate whether or not price inflation is really dead, however, this CPI report creates the impression that it's time to start performing last rights.
