The recent oil glut. Stamp prices are going up again this July.
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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 the recent oil glut. (See the Commodities section.)
Precious Metals:
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The latest from Hub Moolman: The US Dollar or Silver: Make Your Choice.
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Why It’s Time to Stop Taxing Gold & Silver. (Full disclosure: Bullionstar is a SurvivalBlog affiliate advertiser.)
Economy & Finance:
New report: California ranks ‘dead last’ in ‘opportunity’.
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H.L. sent this one: Traitor Joe’s Economy Is Destroying Retirement Accounts in a Way Most People Are Overlooking.
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It is starting to smell like an election year! Biden administration cancels another $7.7 Billion in student loans.
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At Zero Hedge: Software Update “Glitch” Blamed For NYSE Market Break That Sparked Berkshire Wipe Out, Trading Halt Cascade.
Commodities:
Reported by Bloomberg on Tuesday: Oil Slides to Four-Month Lows as OPEC+ Deepens Bearish Sentiment.
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According to Coinflation.com, the melt value of a U.S. nickel 5-cent piece has risen substantially. Now at $.0607 — just over 6 cents!
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OPEC’s Oil Production Rises as Iraq Continues to Overproduce.
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Another from OilPrice News: What’s Behind the Recent Rally in Copper Prices?
“The price of copper has reached an all-time high, breaking the $11,000-per-ton mark.”
Inflation/Deflation Watch:
Stamp prices are going up again this July with one of USPS’ biggest hikes.
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David Stockman on the Continual Rise in the Cost of Living… And Why the Fed has No Shame.
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Linked over at the Whatfinger.com news aggregation site: Auto prices are falling, but owning a car is more expensive than ever.
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Reader H.L. spotted this item: Here’s why no one escapes NYC’s controversial congestion toll — not even locals without cars. JWR’s Comment: All taxes are eventually paid, whether directly or indirectly.
Forex & Cryptos:
The Fed is already insolvent. Here’s how we think this plays out.
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The SEC Just Changed Crypto Forever: First Ethereum ETF Approved!
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Coinbase: SEC is pursuing ‘scorched-earth litigation’ against crypto firms.
Tangibles Investing:
Pending home sales in April slump to lowest level since the start of the pandemic.
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Used Car Price Trends for June 2024.
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!
