Oh snap. This Bullard guy is doing the dirty work for Powell... suggesting that they might even go as high as 7%. I think he's exaggerating but he's definitely giving the impression that they aren't cutting any time soon. Needless to say stocks are down.
Plus unemployment numbers were good.
Gold and silver are also monopoly money - they have value for the same reason that fiat currencies have value: people believe they can trade the currency for goods and services. Without that universal belief, gold and silver would be relatively worthless shiny rocks.
And? Again, people only believe it has value because they believe they can trade gold and silver for goods and services. It doesn't have massive value because of some intrinsic property.Those two are the only natural elements from the periodic table that have been acknowledged for thousands of years as viable currency...unlike worthless bitcoin which Buffet correctly characterized as rat poison.
Governments may fall but gold and silver will endure long after we are both dead.
but interestingly enough, gold's worth is universal even in medieval times with cultures that have never met before.Gold and silver are also monopoly money - they have value for the same reason that fiat currencies have value: people believe they can trade the currency for goods and services. Without that universal belief, gold and silver would be relatively worthless shiny rocks.
This is the reason why they want a stable inflation around 2%. People are willing to spend money at a regular rate, but it is not high enough to create instability.Precious metals also need to be mined, and require real work, so it can't just be printed out of thin air. They also have some uses to make things. That's probably why the pricing is more or less stable and it actually goes up in value instead of down. They used to use precious metals to make coins but due to inflation the precious metal is worth more than the coin's face value. Regular money is constantly declining in value. I used to be of the belief that you should save up to buy big ticket items but with inflation you're actually better off using credit because if you wait until you save up that thing you were going to buy will now cost more.
And? Again, people only believe it has value because they believe they can trade gold and silver for goods and services. It doesn't have massive value because of some intrinsic property.
Yes, it has some intrinsic value for select applications. It's total value however is driven by an underlying belief that you could use it as a currency or a wealth storage medium.Gold and silver is a vital metal involved in a lot of modern day technology and also going back a thousand years for it's durability/malleability. This isn't something that was just used for currency but also a key part in the development of technology.
Gold and silver is a vital metal involved in a lot of modern day technology and also going back a thousand years for it's durability/malleability. This isn't something that was just used for currency but also a key part in the development of technology.
Some retail earnings reported after hours. Gap and Ross. Beat estimates. Didn't follow Target's bad results. Could be a good day tomorrow.
I was correct. Nasdaq up 1.10.Yesterday's selloff was more because of Bullard's comments than Target. Today could go either way though because it's Options day.
People have been spending heavily despite inflation. Even putting more of their purchases on credit.
Black Friday online sales top $9 billion in new record
Consumers spent a record $9.12 billion online shopping during Black Friday this year, according to Adobe.www.cnbc.com
People have been spending heavily despite inflation. Even putting more of their purchases on credit.
It's okay if there isn't any interest and people pay on time. Similar to 0% credit card purchases.From what I've been reading the largest growth area has been in "lease/rent to own" companies like Affirm which IMO edge uncomfortably close to "payday-loan" territory.
Not good news if accurate.