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POSTED ON January 8, 2020  - POSTED IN Key Gold Headlines

We’re told that this is the greatest economy in history. Stock markets are surging. Unemployment is low. And yet despite the good times, a shocking number of Americans live paycheck to paycheck.

Several surveys cited by MarketWatch reveal the precarious financial situation many Americans find themselves in. This is less than ideal in an economy dependent on consumer spending.

POSTED ON January 2, 2020  - POSTED IN Key Gold Headlines

Reuters has dubbed the 2010s the “decade of debt.”

The Reuters report focused on the ballooning levels of corporate debt, but consumer and government indebtedness has skyrocketed over the last 10 years as well. This massive debt bubble poses a significant systemic risk to the financial system and the economy. Some in the mainstream are starting to hint at this, but they still don’t seem to recognize the magnitude of the problem.

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

We have a trade deal! Maybe. Meanwhile, the Fed wrapped up its last FOMC meeting of the year this week and did nothing. But Powell and Company did give us some indication about what we should expect next year. The week’s news played tug-o-war with gold. In this episode of the Friday Gold Wrap, host Mike Maharrey breaks it all down and says there’s a lot to be skeptical about, both with the trade deal and the rhetoric coming out of the Fed.

POSTED ON November 25, 2019  - POSTED IN Key Gold Headlines

How much more can the auto loan bubble blow up before it pops?

Total auto loans and leases outstanding for new and used vehicles increased by another 4.3% year-on-year in the third quarter, according to the latest data from the Federal Reserve. This was a factor in pushing total American consumer debt to a new record of $4.15 trillion in September.

Meanwhile, auto loan delinquencies are surging.

POSTED ON November 15, 2019  - POSTED IN Friday Gold Wrap

There was more optimism about a trade deal this week. There was also more pessimism about a trade deal this week. Markets reacted accordingly. But there was some other interesting news out there. Jerome Powell lectured Congress about the national debt and last month’s inflation data came in hotter than expected. Host Mike Maharrey covers these stories and more, and basically ignores the trade war gossip, on this episode of the SchiffGold Friday Gold Wrap podcast.

POSTED ON November 13, 2019  - POSTED IN Key Gold Headlines

American consumer debt pushed to a new record of $4.15 trillion in September. Part of that equation – the continued surge in the levels of student loan debt.

Student loan balances jumped by $32.9 billion in the third quarter this year, pushing total outstanding student loan debt to a new record of $1.64 trillion. Student loan balances have grown by 5.1% year-on-year.

Over the last decade, student loan debt has grown by 120%.  Student loan balances now equal to 7.6% of GDP. That’s up from 5.1% in 2009.

POSTED ON October 18, 2019  - POSTED IN Friday Gold Wrap

News of a possible “phase 1 trade deal” and movement toward a resolution of the Brexit fiasco have buoyed stocks and put a lid on silver and gold this week. But positive vibes on these two fronts overshadowed a lot of economic data that came out this week that was less than ideal. It seems the American consumer might be getting close to being maxed out. In this episode of the SchiffGold Friday Gold Wrap podcast, host Mike Maharrey digs into a big pile of debt and more.

POSTED ON September 27, 2019  - POSTED IN Friday Gold Wrap

Gold and silver are down this week. There was some more hopeful trade war news and stronger than expected economic data that drove markets this week. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey covers it, plus some news that’s being mostly ignored. And he ponders a question: should we be looking at the economic glass as half-empty or half-full — and why?

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