Anyone who understands how the numbers are calculated for inflation and unemployment versus how they should be calculated - understands that the situation is far far far worse than “the numbers” show.
Where in New England could you recommend a good resource to exchange dollars for Gold? Boston Gold.com? Want to start accumulating 1oz gold coins. Have a money market account doing nothing.
Lena I guess I'm old at 65 but the GDP is growing but the country is broke, yields on are treasury bonds are too high, China, Japan and others are dumping our bonds. A lot of countries are de-dollarisating so the dollar will no longer be the reserve currency The people are putting themselves in the hole on credit and emptying their savings just to keep going. The banking service is going to be in big trouble. I just don't understand how long this can last for me the party is over and it's going to be possibly a total financial collapse for the United States.
Not sure about the rest, just wanted to help with some understanding, China is selling to stabilize the Yuan and paper over a significant real estate collapse.
The US system, like all economic systems, are based on the trust of the people participating. It is a weird and confusing time, mostly because a few rich jerks want it to be.
Lena, this economy is crazy. None of the usual rules seem to apply to it. How does the hundreds of billions of dollars of defense/military spending for Ukraine and Israel figure into the economic stats? How should we understand the fact that China is selling off almost all of their U.S. Treasuries?
China is trying to paper over a real estate bubble burst and stabilize the Yuan. We are still only getting whiffs of this in US media. It has leaked a little and it is important for the CCP to keep faith in their system for their people. While the Yuan is officially pegged to the dollar, the unofficial valuation has been declining.
The article was behind a paywall, but thanks for the additional information on their real estate issues. Wasn't aware of that and the need to stabilize their currency.
Anyone who understands how the numbers are calculated for inflation and unemployment versus how they should be calculated - understands that the situation is far far far worse than “the numbers” show.
Great post and writing!
Agreed! Thank you for reading! Enjoy your weekend!
Lena,
Where in New England could you recommend a good resource to exchange dollars for Gold? Boston Gold.com? Want to start accumulating 1oz gold coins. Have a money market account doing nothing.
Thanks
SeaBird1
Lena I guess I'm old at 65 but the GDP is growing but the country is broke, yields on are treasury bonds are too high, China, Japan and others are dumping our bonds. A lot of countries are de-dollarisating so the dollar will no longer be the reserve currency The people are putting themselves in the hole on credit and emptying their savings just to keep going. The banking service is going to be in big trouble. I just don't understand how long this can last for me the party is over and it's going to be possibly a total financial collapse for the United States.
Not sure about the rest, just wanted to help with some understanding, China is selling to stabilize the Yuan and paper over a significant real estate collapse.
The US system, like all economic systems, are based on the trust of the people participating. It is a weird and confusing time, mostly because a few rich jerks want it to be.
Lena, this economy is crazy. None of the usual rules seem to apply to it. How does the hundreds of billions of dollars of defense/military spending for Ukraine and Israel figure into the economic stats? How should we understand the fact that China is selling off almost all of their U.S. Treasuries?
China is trying to paper over a real estate bubble burst and stabilize the Yuan. We are still only getting whiffs of this in US media. It has leaked a little and it is important for the CCP to keep faith in their system for their people. While the Yuan is officially pegged to the dollar, the unofficial valuation has been declining.
https://www.bloomberg.com/news/articles/2023-10-19/china-sells-most-us-securities-in-four-years-amid-yuan-weakness
The article was behind a paywall, but thanks for the additional information on their real estate issues. Wasn't aware of that and the need to stabilize their currency.
This is the kind of result one can expect from diversity hiring rather than merit hiring.
Poor quality data and poor quality analysis by the Fed.