The Fed Can No Longer Hide The Truth About The Economy
Added 2024-08-26 19:19:05 +0000 UTC
Comments
Great show, Mav! Thank you!
Michelle
2024-08-27 21:42:39 +0000 UTCGreat content and context Mav. Learning lots.
Luke K
2024-08-27 09:47:38 +0000 UTCPreparing for the worst? Polish central bank becomes biggest buyer of gold The president of the National Bank of Poland, Adam Glapinski, recently revealed that the central bank would continue to buy gold, and is aiming for the precious metal to make up 20% of the bank’s reserves. The National Bank of Poland (NBP), also known as the Narodowy Bank Polski, became the joint biggest gold buyer amongst central banks in the second quarter of 2024, tying with India, according to the World Gold Council. This was after the NBP bought approximately 19 tonnes of the precious metal. The president of the National Bank of Poland, Adam Glapinski, also said earlier this year that the central bank was planning to ensure that gold made up 20% of its reserves. At present, gold accounts for about 14.7% of the NBP’s reserves. Investment strategy of central banks: Buy gold Bank of America investment strategist last week recommended investors look to precious metals in search of safety as global tensions rise. Michael Hartnett gave a to-the-point analysis in a note Thursday. “Do what central banks are doing … buy gold,” he said. Harnett cited the Federal Reserve’s posturing to lower interest rates, which will likely contribute to the ongoing inflationary climate and, naturally, give precious metals more upward momentum. ‘Do what central banks are doing... buy gold’ - Bank of America In a report published last week, market analysts at Bank of America (BoA) noted that gold is the best-performing asset so far this year. With gold’s push to record highs above $2,500 an ounce, the precious metal is up roughly 20% in 2024. In comparison, Bank of America noted that cryptocurrencies have risen 17.7%, stocks have rallied 15.4%, the overall commodity sector is up only 1.9%, government bonds have increased by 0.6%, and the U.S. dollar has gained 0.2% year-to-date. Gold prices are even outperforming the tech sector, with the Nasdaq Composite Index up 17%.
Pete
2024-08-27 04:13:33 +0000 UTCNice video, lots of good learnings from this. You are the best. Upgraded to mid tier, ignore the negative comments. I am here to listen to the vantage points of market, it helps after brutal days at work. Love you, Mav. Thanks for all you do. 🙏👍
Muthu Raja
2024-08-27 02:32:17 +0000 UTCBig mistake for Trump, he should have picked Tulsi Gabbard as his running mate
Richard
2024-08-27 00:39:04 +0000 UTCCorrection, Maverick: A recession is when the government orders the media to admit that there were two consecutive quarters where the GDP declines.
J.D.
2024-08-26 23:56:41 +0000 UTCHello Maverick, I hope you had a great weekend and this message finds you happy and healthy. I love the comment video. I actually I love all your videos very educational entertaining and they make us money. I'm not sure why anybody would complain. No complaints here, my friend. Keep up the great work. You're absolutely awesome my friend. Happy and profitable trading y'all
Ryan Botiller
2024-08-26 23:13:12 +0000 UTCI love it
Liam
2024-08-26 22:57:34 +0000 UTCDallas FED Texas Economic Indicators Texas payrolls decline in July Texas employment contracted an annualized 1.2 percent in July (-14,000 jobs) after decreasing a downwardly revised 0.6 percent in June. Significant job gains were seen in financial activities, other services, and oil and gas, while employment in manufacturing, education and health, and professional services declined strongly (Chart 1). Over the same period, U.S. payrolls rose 0.9 percent, with payrolls in education and health and construction rising more than 2 percent each. The Dallas Fed’s Texas Employment Forecast in August was revised down to 1.6 percent job growth this year (December/December). The Texas Leading Index, a composite of eight leading indicators that sheds light on the future of the state’s economy, was little changed in July (Chart 6). The three-month change was negative, with several components contributing negatively to the index, particularly a strong decline in average hours worked. Morningstar ***Unemployment is the Fed's biggest enemy now, Powell says - not inflation. The unemployment rate has experienced a surprising surge, rising to a nearly three-year high of 4.3% as of July from an ultra-low 3.4% just a year and a half ago. Already the jobless rate has exceeded the Fed's year-end forecasts for 2024, 2025 and 2026. "We are not just fighting inflation now," Chicago Fed President Austan Goolsbee said in an interview with CNBC. "There are concerned warning lights from parts of the jobs market." Last week, the government said the U.S. economy had created 818,000 fewer jobs than previously reported from the spring of 2023 to the spring of 2024.
Pete
2024-08-26 22:13:19 +0000 UTCThank you sir I still love you show
Rico a
2024-08-26 21:58:58 +0000 UTC
