During the first week of November, the World Gold Council’s (WGC) report that covered last quarter’s global gold demand noted that central banks worldwide purchased close to 400 tons of gold in Q3 202...
Tag: Economics
Amazon Founder Jeff Bezos Advises What Consumers and Businesses Should Do as Recession Looms – Economics Bitcoin News
Amazon founder and former chief executive Jeff Bezos has given some advice to consumers and small businesses about what they should do given that the U.S. economy is either already in a recession or i...
Nigeria’s Rising Inflation and Foreign Exchange Shortages Fueling Devaluation Speculation — IMF Mission – Economics Bitcoin News
According to the International Monetary Fund (IMF)’s mission concluding statement, Nigeria’s rising inflation rate as well as the continuing shortage of foreign currency are fueling the naira devaluat...
13 Ways to Invest in India, the World’s Fastest-Growing Major Economy
India, home to more than 1.4 billion people, has long been a country with great promise and owner-led businesses accustomed to generating large amounts of cash. But India’s rise has been fitful, and o...
Schwab’s Liz Ann Sonders Sees Trouble Still Ahead. Where to Invest Now.
Though the U.S. stock market looks healthier than it did during its rough patch over the summer, Charles Schwab Chief Investment Strategist Liz Ann Sonders sees potential trouble still ahead, especial...
Relaunch of USAN — the Union of South American Nations — in Latam Profiles New Monetary Integration – Economics Bitcoin News
A proposal for relaunching the currently defunct USAN, the Union of South American Nations, profiles a future monetary integration amongst the countries of the organization. The proposal, made by seve...
The Block: Nouriel Roubini outlines the 10 forces that can cripple the economy: Part 1
Episode 113 of Season 4 of The Scoop was recorded live with The Block’s Frank Chaparro and Roubini Macro Associates Chairman and CEO, Nouriel Roubini. Listen below, and subscribe to The Sc...
The Stock Market Is on a Tear. It’s Almost Time to Sell the Rally.
The stock market has seen a major rally recently. Another move lower looks likely. The S&P 500 closed Tuesday about 12% above its lowest close of the year, 3577, hit in early October. The main dr...
Binance CEO Likens FTX Fiasco to 2008 Financial Crisis — Warns of ‘Cascading Effects’ – Economics Bitcoin News
Binance CEO Changpeng Zhao has compared the FTX collapse to the 2008 financial crisis. Warning of “cascading effects,” he stressed: “A lot of consumer confidence is shaken, and I think basically it se...
Ray Dalio, Founder of Hedge Fund Giant Bridgewater, Sees More Pain Ahead
Ray Dalio founded Bridgewater Associates in his Manhattan apartment in 1975 and grew it into a hedge fund colossus—with about $150 billion in assets—through astute analysis of macroeconomic trends. Al...
Ark Invest CEO Warns Fed’s Actions Could Lead to 1929-Like Great Depression — Elon Musk Agrees – Economics Bitcoin News
The CEO of investment management firm Ark Invest has warned that if the Federal Reserve does not pivot, the current economic setup will be similar to 1929 when the Great Depression started. Tesla CEO ...
3Q Earnings Weren’t Bad. But 2023 Estimates Could Be Ugly.
Wall Street expected 2023 earnings forecasts to drop after third-quarter results came in. That time has come. With companies that account for some 90% of the S&P 500’s market capitalization having...
Ray Dalio Sees More Pain Ahead in This Debt Cycle
Ray Dalio founded Bridgewater Associates in his Manhattan apartment in 1975 and grew it into a hedge fund colossus—with about $150 billion in assets—through astute analysis of macroeconomic trends. Al...
Stocks Rallied Dramatically. It’s Still a Bear Market
This commentary was issued recently by money managers, research firms, and market newsletter writers and has been edited by Barron’s. Bear-Market Rallies Technical Strategy BTIGNov. 11: Thursday...
World’s Worst Performing Currency, the Cedi, Reverses Gains — Economist Steve Hanke Says Ghana Inflation Now Over 140% – Economics Bitcoin News
Just days after registering marginal gains against the U.S. dollar, the Ghanaian currency — the cedi — slipped to C14:$1 versus the U.S. dollar on the foreign exchange parallel market on Nov. 7. The c...
Eliminate Tax Evasion by Digitizing the Full Fiat Currency Supply – Economics Bitcoin News
A proposal to eliminate the physical representation of the Argentine Peso, in order to streamline specific state processes and reduce tax evasion, has been presented by former banker Carlos Maria De L...
Lebanese Mint, Keep, Spend Crypto Amid Crisis, Report Unveils – Economics Bitcoin News
Living in the chaos of a deep crisis, people in Lebanon have been turning to cryptocurrency, a new media report has confirmed. From earning much needed income through mining and work, to storing wealt...
While Official Figures Claim Turkey’s Inflation Rate Is 85%, Third-Party Stats Say It’s Closer to 200% – Economics Bitcoin News
Inflation has skyrocketed in Turkey as official figures from the Turkish Statistical Institute (Tüik) show the country’s inflation rate topped 85.5% year-on-year. The inflation rate in Turkey has rise...
Silver Rallies 7% Rising Past $20 per Ounce, US Mint Says Fabricators Are ‘Struggling to Keep up With Demand’ – Economics Bitcoin News
On Friday, as the global cryptocurrency market cap jumped 5.4% higher against the greenback, U.S. stocks rallied toward the end of the day with the top four major stock indexes gathering gains. Precio...
1 USD Before Year End – Economics Bitcoin News
The Nigerian currency appeared to accelerate its decline versus the U.S. dollar after it slipped to a new low of 900 naira for every dollar. The currency has continued to depreciate even after the Eco...
White House Is Not Preparing for Recession — Chief of Staff Says US Economy Is Strong – Economics Bitcoin News
White House Chief of Staff Ron Klain says that the U.S. is not in a recession. “The economy is growing. It is strong,” he stressed. In addition, White House Press Secretary Karine Jean-Pierre said the...
Higher Rates Hammer Home Buyers—and Make Mortgage REITs Lucrative for Investors
It’s instructive and often amusing to see how the popular media cover economic and financial news. You can get a handle on the public’s sentiment from how they treat those topics, which usually varies...
Former Fed Chair Alan Greenspan Says Decreasing Supply of Greenbacks Makes the US Dollar a ‘Better Store of Value’ – Economics Bitcoin News
On Nov. 2, 2022, the American economist and 13th chairman of the U.S. Federal Reserve, Alan Greenspan, published an opinion editorial that says he envisions a monetary “tailwind” for the U.S. dollar n...
Bank of England Hikes Repo Rate by 75bps — UK’s 30-Year Fixed Mortgage Rate Jumps to 7% – Economics Bitcoin News
On Nov. 3, 2022, the Bank of England followed the U.S. Federal Reserve by codifying the eighth consecutive benchmark bank rate hike by 75 basis points (bps). The increase brings the United Kingdom’s m...
Fed Chair Powell Says ‘Very Premature’ to Pause Interest Rate Hikes — Economist Warns It Will Crash Economy – Economics Bitcoin News
Federal Reserve Chairman Jerome Powell says that it is “very premature” to think about pausing rate hikes. “We have a ways to go,” he stressed. However, economist Peter Schiff warned that “Planned rat...
Central Bank Gold Buys This Year Reach an All-Time Quarterly High in Q3, 400 Tons Purchased Is the ‘Most on Record’ – Economics Bitcoin News
According to the World Gold Council’s (WGC) latest quarterly report, worldwide gold demand, excluding over-the-counter (OTC) markets, was 28% higher year-over-year. While demand jumped higher than las...
What’s Stopping Companies from Pulling Supply Chains Out of China
Text size Despite the trade war and Covid-19 lockdowns, China accounts for 35% of total U.S. containerized imports. Mario Tama/Getty Images About the authors: Christopher S. Tang is a University Disti...