There is healing power in gold and silver. Both precious metals serve as an investment as well as money. Gold and silver also have technological applications. We recently reported that gold is the new green with a growing number of environmental applications. Today, we focus on some of the amazing developments using gold and silver in healthcare applications.
An important Hindu holiday will take place on Friday, and Indians are expected to celebrate by rushing to buy gold. Akshay Tritiya ranks as one of the four most important days for Hindus. The word Akshay roughly translates to “the never diminishing”. The day is believed to bring good luck and success. It is also considered one of the most auspicious occasions to buy precious metals including gold.
Today the American middle class is caught in a vice: squeezed by debt and facing a devalued currency. Add to that an increasing cost of living, stagnant wages, taxes, and government over-regulation and it’s easy to see why the “bedrock” of the US economy is struggling to keep up. A Pew Research report published in December 2015 declared, “the middle class is losing ground.”
When we talk about the student loan crisis, we tend to focus on millennials. After all, they are the ones impacted most directly by the ever-increasing burden of student loan payments. Student loan debt is one of the biggest factors driving a growing trend of millennials struggling to transition into adulthood. But increasingly, student loan debt is also impacting baby boomers and threatening their retirement.
Hedge funds are betting on gold, boosting gold futures and options to the highest level since last November, as investors scramble for golden life rafts.
Gold has advanced by 11% this year, and investors seem to think the gold bulls will continue to run, according to a Bloomberg report. In addition to betting up futures, investors are also loading up on the yellow metal through exchange-traded funds (ETFs). They poured $487 million into SPIDR Gold Shares last Wednesday. That represented the largest daily inflow into the top gold bullion ETF in seven months. According to Bloomberg, a weakening dollar and rampant uncertainty are driving investors into the safe haven of gold.
Are you worried about money? A lot of Americans are. According to a widely reported survey by CreditCards.com, 65% of Americans say they lose sleep over financial concerns. That comes in at just 4 points lower than in 2009, when, as CBS News put it, “the economy was a hot mess.”
Healthcare costs rank as the top concern, but having enough money to retire also keeps people up at night.
“For 37% of consumers, thinking about saving for retirement prepares you for sleep about as well as an espresso shot and a bucket of cold water in your face.”
“Be afraid!” That’s the message billionaire investor Paul Tudor Jones wants to give to Janet Yellen and investors.
According to a Bloomberg report, Tudor is saying publicly what many money and hedge fund managers are privately telling investors: Stocks have risen to unsustainable levels and a crash may well be imminent.
As Trump’s 100-day mark quickly approaches, the president aims his scorn at Canada’s trade policies while House Republicans got to work trying to amend and pass another health care bill.
Republicans Carefully Add Amendment to Trumpcare
- The health care bill that failed a few weeks ago is being hastily amended, including compromises by House Republicans.
- Changes include adding a waiver system for states that wished to do health care differently.
- Many see this as an attempt to get a victory on the books before Trump passes the hundred-day mark, according to ABC News.
One official at the White House said that the goal was to get a vote on the bill next week; however, there were some doubts that would happen. Dave Brat is one Freedom Caucus member who was vehemently opposed to the first iteration of Trumpcare, but stating the current version of the amendment looks “very promising.”
The bill’s changes seem to be designed to appeal to Freedom Caucus conservatives like Brat, but chances are the next attempt will still remain Obamacare 2.0.
Trump Talks Tough on Canada; Vows to Negotiate Better Deals
- At a meeting Thursday, Trump called Canada’s treatment of US a “disgrace,” according to CNBC.
- Canada is one more nation in a long line of allies that Trump is trying to hold accountable for taking unfair advantage of the US.
“We’re not going to let Canada take advantage,” Trump stated following a meeting with some steel industry execs, adding that Canada was also damaging US timber industry job.
The tough talk comes as the president attempts to revive his tough stance on NAFTA. In Wisconsin, he spoke out against what he sees as the Canadian advantage, claiming NAFTA provided our neighbors to the north with “another typical one-sided deal against the US.” He then promised such a deal would not “be happening for long.”
When No One is Shopping, “Buy American” Becomes a Hard Sell
- This week, the president was in Wisconsin, pushing his agenda to “Buy American.”
- Unfortunately, retail sales have dropped in the past few months, according to CNN Money.
- The first three months of 2017 are on track for an incredibly low 0.5% growth overall.
Trump continues to take credit for the short-lived rise in economic confidence following his election. While surveys tend to agree that market confidence and optimism are on the rise, it’s yet to convert to dollars spent by consumers.
Americans seem to be in a conservative stance with their money, voting with their wallets to wait and see what happens with the Trump economy before they make any major decisions. However, a tipping point may not come until Trump passes key fiscal reforms (i.e. tax and foreign trade) he promised during the campaign.