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America’s economy contracted slightly in the first quarter of 2025, with real GDP slipping 0.3%, reversing from a solid 2.4% growth seen in the previous quarter. According to the advance estimate released by the Bureau of Economic Analysis (BEA), the downturn was largely driven by surging imports and reduced government spending. Despite underlying resilience in […]
As warning signs of recession grow, the political class will increasingly point to misleading statistics as proof of their competency. The most popular economic aggregate, Gross Domestic Product (GDP), is worth nuancing.
The Trade Deficit is one of the two components of the twin deficits; the other being the federal budget deficit which was last reviewed in January. The trade deficit used to be a number that received a ton of attention in the 1980s and 1990s because it was determined to be a strong gauge of […]
Gold hit an all-time high of nearly $2,800 this week, closing at $2,735 (down $11 since last week) and silver at $32.44 (down $1.25). JD and Joel discuss gold’s new all-time high, how economic weakness, elections, and central bank moves are impacting demand for gold and silver.
Gold closed the week at $2,387 (down $13) and silver at $27.91 (down 4.7%). This week’s GDP numbers give the illusion of a strong economy. In reality, the economy remains insecure. The Fed must cut rates; the recent dip in precious metals prices is unlikely to last.
Rampant government spending continues to mask fundamental weaknesses in the US economy. Recently, national debt grew much faster than the economy for the third quarter in a row, just one of many warning signs concerning legendary investors. Our guest commentator explains just how much the government is spending to make the economy seem strong, even […]
The US economy is bloated. Years of massive spending and stimulus fed government bureaucracy and elites, but left behind record-high debt and stagnant income for everyone else. It’s no wonder Americans don’t see a healthy economy. Our guest commentator delves into this disconnect.
In this week’s Friday Gold Wrap Podcast, JD and Joel discuss why gold is down this week, soaring tech stocks and plummeting gold stocks, and other market and precious metals news.
The day of reckoning for unproductive credit is in sight. With G7 national finances spiraling out of control, debt traps are being sprung on all of them, with the sole exception of Germany.
When it comes to economic data, context matters. In this episode of the Friday Gold Wrap, host Mike Maharrey explains how the Fed, many mainstream economists, and financial network talking heads get a lot wrong because of bad data, shoddy economic frameworks, and ignorance of history. Along the way, he covers the GDP and the […]
An important error in statistical analysis is that mathematical economists have lost sight of what their beloved statistics represent —none more so than with GDP. In this analysis, I explain why GDP is simply the total of accumulating currency and credit which is wrongly taken to reflect economic progress — there being no such thing […]
