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POSTED ON August 5, 2022  - POSTED IN Friday Gold Wrap

Jobs are on everybody’s mind as the July employment report comes out. Will the labor market show more cracks? Or will it give the pundits more room to spin the idea that we’re not really in a recession? In this episode of the Friday Gold Wrap, host Mike Maharrey talks about the labor market and breaks the July jobs data news as it comes out. He also talks about the “health” of the American consumer and gold’s flirtation with $1,800 an ounce.

POSTED ON January 10, 2022  - POSTED IN Original Analysis

The Federal Reserve is talking about raising interest rates. Well, that’s going to be a big problem for American consumers who are running up debt at a torrid pace. This is yet another reason why the Fed can’t do what it’s claiming it will do.

Consumer debt jumped 11% year-on-year in November, according to the latest data released by the Federal Reserve. It was the biggest single-month jump in consumer debt in 20 years.

POSTED ON December 10, 2021  - POSTED IN Friday Gold Wrap

Pretty much everybody now expects the Federal Reserve to go to war against inflation, but the central bank has a problem not many people seem to be talking about – an economy buried under debt. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about consumer debt levels and their ramifications. He also discusses central bank gold-buying and breaks the November CPI data live.

POSTED ON October 12, 2021  - POSTED IN Key Gold Headlines

Consumer borrowing has slowed somewhat from the record level we saw in June, but Americans continue to pile on the debt.

Consumer debt grew by $14.4 billion in August to $4.35 trillion, according to the latest data from the Federal Reserve. That represents a 4% increase.

This follows on the heels of a 4.8% increase in July after a record 10.6% increase in June.

POSTED ON August 4, 2021  - POSTED IN Key Gold Headlines

With the stimulus checks long ago spent, Americans have gone back to buying things the old-fashioned way – on credit.

Household debt surged by $313 billion in the second quarter to nearly $15 trillion, according to the Federal Reserve Bank of New York Household Debt and Credit Report. It was the biggest quarterly dollar increase in household debt since 2007. In percentage terms, household debt grew by 2.1%, the biggest surge since Q4 2013.

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