Greg Guenthner, the chief strategist at Forge Research Group, believes that precious metals will experience a bull run not seen in two decades this year. “Market conditions are aligning for a potential extended, multi-year move that could thrust gold and silver to new highs and beyond,” he said. “The similarities between the market now and the mid-2000s are striking.” In other news, E.J. Antoni, a research fellow at the Heritage Foundation’s Center for Data Analysis, said the latest GDP report shows that disposable income has fallen to levels not seen since the Great Depression. “The most troubling information in the GDP report is the precipitous drop in real disposable income, which fell over $1 trillion in 2022. For context, this is the second-largest percentage drop in real disposable income ever, behind only 1932, the worst year of the Great Depression.”
Daily Reckoning/Greg Guenthner
2023: Year of the New Gold Bull
Last week, we discussed the market forces behind the 2022 growth meltdown.
Now that we’ve shaken off the cobwebs, it’s time to look ahead and focus on the stocks and sectors with the best potential to take the lead in 2023’s first quarter – and beyond.
Unfortunately, many investors are going to miss these opportunities.
An unhealthy fixation on the tech space is part of the problem. Yes, the market has slaughtered most tech growth stocks. Many of these once astronomically overvalued names are a little less expensive as a result. But it’s a stretch to claim any are legitimately cheap.
Continue reading, here.
Fox Business/E.J. Antoni
GDP report reveals ominous Great Depression warning sign not seen since 1932
The latest numbers from the Bureau of Economic Analysis show that the U.S. economy grew by 2.9 percent in the fourth quarter of last year, and 2.1 percent for 2022. While the White House was quick to take credit for the state of the nation’s economy, they might want to think twice. This latest report should have alarm bells ringing, not trumpets sounding.
That’s because economic growth is slowing down. Even the areas which contributed positively to gross domestic product (GDP) are not necessarily signs of prosperity. For example, business investment grew at only 1.4 percent in the fourth quarter, but that was almost entirely inventory growth. Nonresidential investment, a key driver of future economic growth, was up just 0.7 percent.
You can read the full article here, here.
TheStreet/Tony Owusu
Billionaire Barry Sternlicht Thinks He Knows When Recession Will Hit
The U.S. is on the verge of a recession that could possibly cost millions of Americans their jobs.
But at least market bears get to say ‘I told you so.’
Barry Sternlicht, chairman of investment fund Starwood Capital Group, went on CNBC to give a timeline of when he thinks the full recession will hit.
“You’re going to have a recession in the third or fourth quarter. The consumer is sort of out of dough. His savings rates are at all time lows…He’s on credit cards,” Sternlicht, who is reportedly worth $4 billion, said on CNBC Thursday.
You can read the full article here, here.
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