We are a ways away from substantial further progress. But we are still making progress. That’a according to Fed Chair Jerome Powell. Soon after the Fed issued its statement, U.S. stocks fell further from their record highs, and bond yields rose. As a result, Powell changed his tone and emphasized that inflation is temporary. It’s been temporary for 40 years.
Asian billionaires are investing in renewable energy and you know what that means? Increase in silver demand.
With savings in equipment manufacturing hitting a plateau, and more recently pressured by rising prices of raw materials, producers are stepping up work on advances in technology — building better components and employing increasingly sophisticated designs to generate more electricity from the same-sized solar farms.
The Congressional Budget Office or CBO said that The U.S. will see a $3 trillion budget deficit this year, close to the 2020 record. This is the adjusted computation of the CBO after it incorporated the impact of President Joe Biden’s Covid-19 relief program.
2020 was one of the worst years by far. I don’t even need to present statistics or numbers to prove that. It’s just common knowledge. What’s surprising is this. As reported by Acorns, 1.7 million Americans became millionaires in 2020. Millionaires now make up 8.8% of the U.S. population.That means almost 1 in 10, 8.8%, of U.S. adults are now millionaires, up from 7% in 2015.
$89 Trillion. That’s how much our debt will be by 2029 according to Forbes. Real inflation rate is estimated to be upwards of 10%. We have never seen this pace before. Not even at our worst times.
The Fed continues to hold interest rates near zero and signaled it would probably keep them there through next year to help the U.S. economy recover from Covid-19. So, we have a year with almost zero interest rate.
The man, the legend, the prohibition era gangster, Dutch Schultz. It is said that he has hidden treasure made of thousand-dollar bills, diamonds, and uncashed World War I Liberty Bonds. But the majority of it is gold bars and coins. How did he amass all that wealth?