UPS Workers Could Stage Biggest Strike In The U.S. Since The 1950s.
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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, we look at a possible UPS workers’ strike. (See the Economy & Finance section.)
Precious Metals:
The price of gold was flat on Friday (June 16, 2023), but spot silver saw a nice 1.33% bounce to close at $24.46 USD per Troy ounce. So I adjusted my silver divisor accordingly: I now accept pre-1965 US 90% silver coins at 26 times face value, for any of my merchandise at Elk Creek Company. – JWR
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Silver outshines gold with better short-term performance.
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China’s Persistent Gold Accumulation: A Seven-Month Surge In Holdings.
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The Shanghai International Gold Exchange And Its Role In De-Dollarization.
Economy & Finance:
UPS Workers Could Stage Biggest Strike In The U.S. Since The 1950s. Here is an excerpt:
“Some 97% of voting members approved a strike, although the voting turnout was not immediately known.
The union is seeking higher pay; the elimination of so-called two-tier wages, where newer workers are paid less than older employees for the same job; the removal of surveillance cameras from delivery trucks; and more full-time jobs.
Earlier this week, the Teamsters secured a major win when UPS committed to install air conditioning and two driver-facing fans in most trucks. Heat safety has been a significant concern for UPS workers, with many incidents of drivers falling sick from heatstroke.
The current contract was unpopular, with a majority of UPS workforce rejecting it, but the union’s former leadership pushed it through on a technicality. The backlash led to the ouster of the union’s leadership in favor of O’Brien, who has been vocal about his willingness to strike, including going on a national tour of union locals this year to prepare members for a walkout.”
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Amazon Delivery Drivers Walk Out in First-Ever Strike.
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Your tax dollars at work: Planned Parenthood CEOs among the highest-paid in nonprofit sector while abortion giant collected $1.9 billion in government grants, reimbursements: Report.
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Linked over at the Whatfinger.com news aggregation site: S&P 500 breaks six-day win streak on Friday, but still notches best week since March: Live updates.
Commodities:
W.K. in Cornwall sent us this: The 10 Commodities With Great Potential to Trade in 2023.
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Transcript: Counterfeiting Scandals Keep Slamming the Commodities Market.
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Setup in Uranium Market Among the Best Commodity Cases.
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A Deep Dive Into The World’s Leading Lithium Producers.
Inflation/Deflation Watch:
UK predicted to have the highest inflation rate out of all advanced economies this year.
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At Zero Hedge: CPI Tumbles To 2-Year Lows, But Goods Prices Reaccelerate; Inflation Outpaces Wages For 26th Straight Month.
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Another piece from the CBNC cheering section: Inflation rose at a 4% annual rate in May, the lowest in 2 years.
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Charles Hugh Smith: Everything Is Being Repriced, Starting with Risk.
Forex & Cryptos:
US Treasury Secretary Announces Dollar Will Decline as Global Reserve Currency.
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At Currency Thoughts: Bank of Japan Unanimously Holds its Ground.
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XRP Allegedly Attacked By SEC’s Hinman For Ethereum’s Benefit.
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‘We had to change strategies,’ says SEC enforcement director on recent actions: Report.
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CoinDesk: Inverse Correlations, FOMC Action, and a Possible Spot Bitcoin Trust.
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Under court deal, Binance can continue U.S. operations as it battles SEC fraud charges.
Tangibles Investing:
Value of Nostalgia: Pros & Cons of Collectibles as an Alt Investment.
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Collectible Investing: Is the Collectibles Market a Smart Place To Put Your Money?
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Faxon Firearms (one of our affiliate advertisers) is briefly running a 25% off sale on most of their gun parts, and a 15% off sale on complete guns. Here are their Summer Savings Event coupon codes:
- 25% off Faxon Parts & Accessories: FXSUMMERSAVE25
- 15% Off Complete Firearms: FXSUMMERSAVE15
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!
