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Retail sales have gone up to start the year as Americans keep spending. But what are they buying? Inflation. American consumers are spending hand-over-fist in an effort to keep up with surging prices.
In another sign that the inflation train is far from running out of steam, producer prices were up big again in February. The Producer Price Index (PPI) for final demand surged 0.8% month on month. This was close to the expectation. The annual increase in producer prices came in at 10%, tying the all-time record.
If you thought the federal government running a budget surplus in January was a sign that Washington D.C. was getting its fiscal house in order, you’re going to be disappointed. Uncle Sam ran the biggest deficit since last July in February.
Not too long ago, the national debt pushed above $30 trillion. Today, Uncle Sam is $30.26 trillion in the red. And he’s on the fast track toward $31 trillion. Today, most people don’t bat an eye at the national debt. But that wasn’t always the case. As David Stockman pointed out there was a great […]
Gold flowed into gold-backed ETFs for the second straight month in February. Net inflows of gold into ETFs globally totaled 35.3 tons last month. Total ETF gold holdings globally ended February at 3,650.6 tons, according to the latest data from the World Gold Council.
As economic sanctions began to put a stranglehold on the Russian economy, long lines formed at banks and ATMs as everyday people tried to pull cash from their bank accounts. A Russian economy expert from the Foreign Policy Research Institute called it “a full-fledged bank run.”
Inflation continues to chew up your paycheck. While consumer prices rose 0.7% in January, income from all sources, including wages, salaries, interest dividends, rental income, unemployment, Social Security, etc. was essentially flat. And when adjusted for inflation, real personal income fell by 0.5%.
On Tuesday, the Atlanta Fed cut its GDP estimate for the first quarter of 2022 to zero. Just a few days ago, the estimate was for 0.6% growth. That was down from 1.3% just a few days before that. This is not an encouraging trend.
Gold demand in the technology sector rebounded rapidly in 2021 after falling the prior year due to economic lockdowns and the pandemic. In 2021, tech sector gold demand grew by 9% to 330 tons with year-on-year growth in all four quarters, according to data from the World Gold Council. Tech demand in 2021 was about […]
Global silver demand is expected to reach a record high of 1.112 billion ounces in 2022. This is one of several silver-related stories in the latest edition of Silver News published by the Silver Institute.
