There is a lot going on globally that will, in my view, create some additional headwinds for the US economy moving ahead.
Regardless of what you call it, a recession is here in my view. And the data suggests it will get worse before it gets better.
Real estate is now at the beginning of a decline that will rival the plunge in prices experienced at the time of the Great Financial Crisis.
The evidence suggests the onset of a housing crash that occurred at the time of the Great Financial Crisis may be getting close.
The “Inflation Reduction Act” passed recently will do nothing to reduce inflation. It increases federal spending which can only be financed via additional currency creation by the Federal Reserve.
Only in Washington DC could a group of politicians pass a massive spending bill that will likely require more currency creation and call it an “Inflation Reduction Act”.
Using the longstanding and widely accepted definition of recession, the United States now finds herself smack in the middle of one.
This week in “Portfolio Watch”. I’m going to discuss a topic that I am often asked about; that is the manipulation of the precious metals markets. More specifically, are the prices of precious metals manipulated?
Ironically, the painful deflationary period will probably not be avoided. In fact, we may be witnessing the onset of such a period presently. Stocks are down significantly year to date and I believe real estate will soon follow.
The reality of the current economic situation no matter what the week-to-week market numbers might say is that there is too much debt in both the private sector and on the public balance sheet to ever be paid with ‘honest’ money.