Higher Beef Prices. Platinum deficit forecast for 2023.
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Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. In this column, JWR also covers hedges, derivatives, and various obscura. This column emphasizes JWR’s “tangibles heavy” investing strategy and contrarian perspective. Today, a look at higher beef prices. (See the Commodities section.)
Precious Metals:
Coin News reported this: 2023 U.S. Mint Gold Sales Outpace 2022 by October; Silver Sales Leap.
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Platinum deficit forecast for 2023 now over 1 million ounces on strong automotive and industrial demand growth and flat supply. JWR’s Comment: As I’ve mentioned before: Platinum is dramatically undervalued, as of late 2023. Anyone who is planning to buy gold should actually be buying platinum instead, in today’s market!
Economy & Finance:
UBS CEO Reveals Preference for Private Buyer in Rescue Scenarios. JWR’s Comment: If UBS goes under, beware of a possible Credit Default Swap (CDS) contagion, globally.
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At Reason: Americans Are Still Fleeing High-Tax States.
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Linked over at the Whatfinger.com news aggregation site: Commercial real estate accounts for 30% of regional bank loans — roughly $300 billion. It’s already fallen by half…
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Federal Regulators Warn Wells Fargo to Stop Customers’ Financial Crimes.
Commodities:
Ranchers Warn the Worst Collapse in Cattle Production Will Make Meat Prices Double This Winter. Here is a quote:
“The nation’s shrinking cattle herd combined with surging input costs at U.S. farms and ranches have pushed wholesale meat costs to over $8 per pound, official data shows. Analysts predict that the figure could jump above the $ 10 mark in December due to the seasonal spike in demand. As a comparison, beef costs in 2022 were hoovering around the ten-year average of $5 per pound. The rapid price appreciation means that you will have to pay double what you paid a year ago to bring your favorite cut home this winter.”
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At Zero Hedge: What’s Behind The Sudden Plunge In Oil Prices? Goldman’s Trading Desk Explains. (A hat tip to H.L. for the link.)
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Heating Homes With Natural Gas Is More Than 40% Cheaper Than Electricity: US EIA.
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What are Lumber Futures Telling Us About the Economy?
Inflation/Deflation Watch:
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Inflation in the US is improving, the public mood is still sour.
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Kelley: When Will New Car Prices Drop? A quote:
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Inflation rate in Argentina from January 2018 to August 2023.
Forex & Cryptos:
President-elect Milei vows ‘end to decline of Argentina’.
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At Currency Thoughts: Dollar Opens Week of Thanksgiving with a Dip.
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Blockchain Firms ‘Chomping At the Bit’ To Develop Wyoming’s Stable Token.
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Argentina Welcomes First Pro-Bitcoin President, BTC Price Surges Above $37,000.
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Crypto community begins Bitcoin halving countdown as milestone date nears.
Tangibles Investing:
Another item from H.L.: New York Commercial Real Estate Nightmare Deepens: Deutsche Bank Faces $350M Loss on Manhattan Office Building.
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Several of our paid advertisers and affiliate advertisers are running Black Friday and Cyber Week specials. Take a look at their discounted products, and stock up!
Provisos:
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos page for our detailed disclaimers.
News Tips:
Please send your economics and investing news tips to JWR. (Either via e-mail or via our Contact form.) These are often especially relevant because they come from folks who closely watch specific markets. If you spot any news that would be of interest to SurvivalBlog readers, then please send it in. News items from local news outlets that are missed by the news wire services are especially appreciated. Thanks!
