This week Nasdaq soared to record highs, cracking the 6,000 ceiling for the first time. The Dow Jones surged as well, gaining 1.1% Tuesday. Earlier this year, the Dow shot above the 21,000 mark and hit record highs 12 days in a row in February. Despite these impressive numbers, there are increasing signs that the economy is tanking. In fact, there is a huge reality disconnect between what is going on in the economy and the soaring stock markets.
Marc Faber appeared on CNBC Futures Now recently to talk about the impending pop of the stock market bubble. “Dr. Doom” has predicted a 20% to 40% stock market selloff in the near future.The show’s host, along will Scott Nations, pressed Faber on the surging stock market. “If someone piled into stocks in 2012, 2013, 2014 or 2015 they’ve done pretty well. Why were you so wrong then, and why should we think you’re so right now?” Nations asked.
How much gold is there in the world? Short answer: not much. That’s good news because gold’s value lies in its scarcity. After all, nobody picks up gravel off the ground and stores it in a safe. But if you find a gold nugget, you can take that to the bank – quite literally. Most people are vaguely aware that gold is scarce. But just how little there actually is might surprise you.
Yesterday, the Trump administration rolled out its tax reform plan, or more like an outline for the plan. While it contained a lot of red meat for supporters and plenty of things to like, it lacked some important specifics and faces an uphill battle in Congress.
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 vise: 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.”
