Gold is on the cusp of its biggest breakout in 50 years, and fear of “another 2008” should not prevent investors from being bullish on gold, says expert trader and analyst Jordan Roy-Byrne. According to Roy-Byrne, gold’s technical setup could not be better: “Gold is in the early stage of a new bull market that will be confirmed when it breaks past resistance at $2,100.” This doesn’t mean a recession isn’t still on the way, as “many of our long-term problems are becoming short-term problems,” according to author Michael Synder. Between a real estate crisis, corporations defaulting on their debts, layoffs, bankruptcies, and global rejection of the U.S. dollar, the consequences of the Fed’s decisions are beginning to play out right in front of us. As surging prices on everyday items continue to squeeze Americans, new data from the TIAA Institute-GFLEC Personal Finance Index found that a quarter of Americans were forced to scale back their retirement savings in 2022, with 12% stopping saving altogether.
The Daily Gold/Jordan Roy-Byrne
Gold Bulls: Stop Fearing 2008 Boogeyman
Gold is on the cusp of its biggest breakout in 50 years.
Sure, the weak dollar has helped, but Gold is incredibly strong in real terms.
Gold against foreign currencies recently hit new all-time highs. Gold against Bonds is at multi-year highs, and Gold against the stock market recently hit a 2-year high.
Meanwhile, the risk of recession is dangerously high, and the Fed cannot tighten that much more. Inevitably, they will have to ease while the inflation rate remains well above 2%. The recent bank bailout was only the start.
Continue reading, here.
The Economic Collapse blog via ZeroHedge/Michael Snyder
5 Economic Disasters We Were Warned About In Advance That Are Happening Right Now
Our leaders were able to successfully kick the can down the road for a long time, but now many of our long-term problems are becoming short-term problems, and the economic outlook for the remainder of 2023 is extremely bleak. But none of the economic hardships that we are experiencing at this moment should shock any of us. The truth is that we were warned about all of these things well ahead of time.
Many independent voices have been warning us that there would be severe consequences for the exceedingly foolish economic decisions that our leaders were making, and now those severe consequences are starting to play out right in front of our eyes.
The following are 5 economic disasters we were warned about in advance that are happening right now…
You can read the full article, here.
Fox Business/Breck Dumas
Inflation battered retirement savings in 2022
According to new data, a year of surging prices for everyday expenses squeezed Americans’ budgets to the point of kneecapping an alarming number of U.S. households’ retirement savings in 2022.
The TIAA Institute and George Washington University’s Global Financial Literacy Excellence Center’s latest Personal Finance Index released last week found historically high inflation forced a quarter of Americans to slash their retirement savings and a full 12% to quit saving entirely over the last year, concerning researchers.
“This steep of a drop – on top of a crisis where 40% of Americans already don’t have enough saved for retirement – means many families will have to work even harder to achieve a secure retirement,” said Surya Kolluri, head of the TIAA Institute.
You can read the full article, here.
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