Every week, analysts and pundits pour over the latest weekly jobs report looking for signs of life. Every month, we dive into the monthly unemployment numbers hoping they signal economic recovery. But these unemployment numbers don’t tell the whole story.
The government economic shutdowns in response to the coronavirus pandemic have deeply wounded the economy in ways that won’t immediately show up in the numbers. In fact, they could leave scars on the economy that don’t fade for years.
In yet another sign that the economy isn’t poised for a quick bounceback even if researchers produce an effective COVID-19 vaccine, many companies are considering permanently laying off furloughed workers and taking other steps to make cost-cutting measures permanent.
Gold is knocking on the door of its all-time record price. At this point, it’s not a matter of if gold will break its record but when. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the dynamics that are driving both gold and silver higher and explains why he thinks gold has a long way to run even after it breaks the record. He also highlights some more economic data that undermines the “quick recovery” narrative.
Despite a resurgence in coronavirus in the US, most people still seem pretty optimistic about economic prospects. Stronger than expected retail sales last month boosted confidence. Most people seem to think if we can just conquer the virus, the economy will be fine. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey takes a deeper look at the underlying economic dynamics and the government response to COVID-19. He argues that we’re still living in a bubble economy and we need the anti-bubble — gold.
Gold surged passed another key level this week, breaking above $1,800 an ounce for the first time since 2011. And the yellow metal is pulling silver up along with it. What’s driving precious metals higher? And can we expect this bull run to continue? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey takes a close look at both the gold and silver markets – what’s driving them and where they might be heading next, and why this is different than 2011. He also touches on the escalating war on cash.
Gold staged a solid rally and finally broke above a key resistance level this week. The yellow metal hit an 8-year high on Wednesday and continues to hold above $1,750 an ounce. Meanwhile, we’re suddenly starting to see some mainstream bullishness for gold. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the economic dynamics in play and highlights some of the mainstream attention suddenly being showered on the yellow metal.
Jerome Powell ventured to Capitol Hill – virtually – to talk to Congress this week. Powell did what he does best – blew a lot of smoke. Meanwhile, the central bank upped its stimulus ante yet again. In this episode of the Friday Gold Wrap podcast, host Mike Maharry talks about the impact the Fed is having on the economy, along with the news of the week in the gold market.
The Federal Reserve met this week and promised to keep pumping out monetary stimulus indefinitely. Meanwhile, the US government added another trillion dollars to the national debt in just 35 days even as the president and congressional leaders talk about more fiscal stimulus. In this week’s Friday Gold Wrap podcast, host Mike Maharrey talks about the ramifications of all this endless stimulus and reminds us that what can’t go on forever, doesn’t. He also covers the week’s ups and downs in the gold market and reveals that the May unemployment report appears to be fake news.
The markets were giddy Friday after a much better than expected jobs report boosted optimism for a quick v-shaped recovery as the economy opens back up. But in his podcast Friday, Peter Schiff poured some cold water on this notion. He said given the amount of stimulus that the Federal Reserve and the US government have pumped into the economy, unwinding it all will be mission impossible.
The economy has gone through the quickest and arguably the deepest collapse in history, but the stock market has been rallying. How can this be? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey says look no further than the Federal Reserve. Despite the economic chaos, it has managed to blow up stock market bubble X.0 He also talks about a move China recently made that ups the ante in the “war on cash.”