Is This a 2007 Redux? SchiffGold Friday Gold Wrap Aug. 18, 2023
There is a growing consensus that the Federal Reserve can successfully slay price inflation and bring the economy to a soft landing. After all, the economy appears to be chugging along. But as Friday Gold Wrap host Mike Maharrey explains, there are a lot of things bubbling under the surface that should temper that optimism. In fact, what we’re seeing today looks a lot like 2007.
- A tough few weeks for gold
- This looks eerily similar to 2007
- Banks still borrowing billions from Fed bailout program
- The US government spent more on interest payments than national defense in July
- Another gut punch for the US dollar
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