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POSTED ON November 14, 2019  - POSTED IN Key Gold Headlines, Original Analysis

Fiscal 2020 started just like fiscal 2019 ended – with a massive federal budget deficit. And that has Federal Reserve Chairman Jerome Powell worried. In an ironic bit of political theater, Powell lectured Congress about the spending he helps facilitate.

The budget shortfall last month was 34% higher than the October 2018 deficit, coming in at $134.5 billion, according to the latest Treasury Department report. That starts fiscal 2020 off on track to eclipse a $1 trillion deficit.

POSTED ON November 7, 2019  - POSTED IN Key Gold Headlines

Uncle Sam is spending money far faster than he’s taking in. The US federal government ran the biggest budget deficit in seven years in fiscal 2019, according to the Treasury Department. And the spending is even worse than advertised.

The $984 billion deficit amounts to 4.7 percent of GDP. That’s the highest percentage since 2012. It was the fourth consecutive year in which the deficit increased as a percentage of GDP. The debt-to-GDP ratio is estimated to have increased a hefty 26 percent over last year.

POSTED ON October 28, 2019  - POSTED IN Key Gold Headlines

When is a $984 billion budget deficit good news?

When you thought you might get a $1 trillion budget deficit.

The Treasury Department released the fiscal year 2019 budget numbers on Friday. The budget shortfall came in at $984 billion right on the CBO estimate. A CNBC report said this would likely, “come as a relief to the Trump administration, which had previously forecast that the deficit would hit $1 trillion during the 2019 fiscal year.”

POSTED ON October 14, 2019  - POSTED IN Key Gold Headlines

The budget deficit for fiscal year 2019 came in just a hair under $1 trillion according to the Congressional Budget Office estimate.

Even if it does come in under the trillion-dollar mark, it would still rank as biggest deficit since 2012. The budget shortfall has only eclipsed $1 trillion four times, all during the aftermath of the 2008 financial crisis.

POSTED ON October 11, 2019  - POSTED IN Friday Gold Wrap

Everybody is talking about the possibility of a trade deal.

Well, maybe not everybody. In this episode of the Friday Gold Wrap, host Mike Maharrey rehashes his standard trade war observations and then moves on to bigger news – Jerome Powell’s announcement that the Fed is resuming QE. Of course, Powell didn’t exactly say that. In fact, he tried to say the opposite in a statement that Mike describes as “word salad.” In this episode, Mike breaks down what’s going on with the Fed and why it matters a lot more than the possibility of a trade deal. He also covers some important gold-specific news that came out this week.

POSTED ON September 26, 2019  - POSTED IN Key Gold Headlines

The fiscal year budget deficit surged passed $1 trillion last month. Spending deficits necessarily mean more government borrowing and we’re seeing that in the numbers as well. Uncle Sam’s outstanding public debt grew by $450 billion in August alone.

The national debt stood at $22.02 trillion on Aug. 1 and surged to $22.47 trillion as of Aug. 27.

POSTED ON September 13, 2019  - POSTED IN Friday Gold Wrap

The price of gold whipsawed this week, driven up and down by various headlines. In this episode of the Friday Gold Wrap, host Mike Maharrey covers some of the big news that moved the markets. But he said that we need to keep our eyes on the big picture. All of this is happening in front of a backdrop of surging debt driven by central bank policy. How much do we owe and what does it mean for the future? Mike talks about it.

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