There was a lot of economic data this month that seems to signal a strong economy. Does it though? Is everything really fine? In this episode of the Friday Gold Wrap, host Mike Maharrey digs deeper into the data and reveals a less sanguine reality. He also explains the inner workings of the spot price for gold, how it’s determined, and the factors that influence it.
It’s getting harder and harder for recession deniers to justify their optimism. And some people seem to be waking up to that reality.
Late last week, we got more economic data and corporate earning news that proves the economic optimism that’s been bandied about for months is unfounded.
We’re starting to get data revealing just how bad the coronavirus government shutdowns have impacted the economy. One commentator called it a “house of horrors.” But markets have barely shrugged. There doesn’t seem to be much concern. Peter Schiff said there’s a pass now on economic data.
Here is a summary of some of the significant economic data/news that came out last week.
Third-quarter 2019 new orders for durable goods remain on track for a second annual decline. August 2019 Real New Orders for Durable Goods showed a monthly gain of 0.2% [1.0% ex-Commercial Aircraft], but an annual decline of 4.9% [down by 2.1% (-2.1%) ex-Commercial Aircraft].
