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Death-spiral — The downward, corkscrew-motion of a disabled aircraft which is unrecoverably headed for a crash. The US federal government may well be in a death spiral – or perhaps we should call it a debt-spiral.
Interest rates are climbing quickly. The yield on the 10-year US Treasury hit the highest level since 2011 in the midst of a massive bond sell-off Wednesday. The selloff spread across the globe on Thursday morning. ZeroHedge called the spike in yields a “monster move.”
The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.
As expected, the Federal Reserve nudged interest rates up another 25 basis points Wednesday. The federal funds rate now stands at 2.25%. The Fed offered up a rosy outlook for the US economy, projecting growth will continue for the next three years. The central bank also dropped the phrase, “the stance of monetary policy remains accommodative” […]
A recent Paul Krugman New York Times column praised the success of the Keynesian macro model in the wake of the 2008 financial crisis. In his view, the Federal Reserve did exactly what was necessary – pushed interest rates to zero and launched rounds of quantitative easing to jumpstart demand. As Tom Woods and Bob […]
The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.
If you look at past financial and economic crises, what is the common denominator? Debt. That’s why we talk so much about debt on these pages.
Yields have been on the rise this week in the midst of a bond market sell-off. Two-year borrowing costs hit their highest level in a decade Wednesday. The yield on the 2-year Treasury climbed to 2.816%. Meanwhile, the 10-year Treasury yield hit a four-month high of 3.07%. What’s going on here?
The trade war between the US and China escalated again this week. The US slapped an additional $200 billion in tariffs on Chinese goods. The tax starts at 10% and will increase to 25% by the end of the year. China retaliated by announcing another $60 billion in tariffs on US goods. As Peter Schiff noted […]
The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.
