US May Raise Retirement Age, CBDC In 12-24 Months, Top US CEOs Join Xi Jinping in Beijing, Powell Says Inflation Looks Good

Weekly Recap - March 30, 2024

During an interview at the San Francisco Fed’s Macroeconomics and Monetary Policy Conference on March 29th Fed Chair Powell commented on inflation, “February was pretty much in line with our expectations.. it's good to see something coming in line with expectations”.

Core PCE index increased 0.3% in February vs. 0.5% in January and in line with the +0.3% consensus.

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Chief U.S. economist at UBS, Jonathan F. Pingle, says there are multiple signs of a looming economic slowdown:

• Credit card delinquency rates are higher than in the pandemic era, and they are substantially higher among ages 20-39. The revolving credit outstanding is also historically high;

• When it comes to the labor market, layoff announcements have risen to pre-Covid levels.

• Spending is still elevated, relative to income. GDI fell, GDP rose, and the fiscal deficit ballooned.

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Larry Fink, the CEO of Blackrock, says U.S debt at “very dangerous” levels and warns of ‘snowballing’ US debt:

“The situation is more urgent than I can ever remember”

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U.S. national debt rises to $34.6 trillion.

Its growth accelerated in recent months, with increases totaling approximately $1 trillion every 100 days.

Fitch warns “U.S. Office Commercial Real Estate Values Yet to Trough”. The plunge in US office building values may exceed 2008's real estate crises.

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Gold hit a new record high of $2,214/ oz.

I recently discussed the top reasons why we see safe haven assets, specifically gold, continue its trend upward: watch the video on Rumble.

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New home prices fall to lowest level in 3 years. The median sales price of a newly constructed home dropped 7.6% year over year. Additionally, bulders are switching up the product they deliver. More builders bring smaller, less expensive homes to the market as mortgage rates remain elevated.

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SWIFT, the biggest global financial messaging platform, announced it is ready to launch a CBDC platform within the next 12-24 months. SWIFT said they completed a successful pilot program that included multiple central banks, large private banks (BoA, JPMorgan, Citi) as well as other financial services firms.

I discussed more details in a recent video on Rumble.

Food security is at risk. Farmers’ protests in Europe have spread, with the biggest protests this week taking place in the UK and Poland.

Farmers in the US are starting to panic as new government regulations threaten them. Watch my recent video with the details on Rumble.

This video recorded by an American farmer shocked me: