8.14.19 - 311 Days: Recession Countdown Begins

Gold last traded at $1,527 an ounce. Silver at $17.28 an ounce.

NEWS SUMMARY: Precious metal prices shot up Wednesday on safe-haven buying and recession fears. U.S stocks fell sharply after the U.S. bond market flashed a troubling signal about the U.S. economy.

 

 

 

Every Country a 'Currency Manipulator'?

Written by Staff Writer

piggy 4341875 640If China Is A 'Currency Manipulator', Then Every Country Is -Tamny/Forbes
"President Trump, Democrats like Sen. Chuck Schumer, along with countless other politicians, economists and pundits, believe that Chinese producers have gained a trade advantage by keeping the value of their currency (the yuan) artificially low. Supposedly this makes them more competitive.

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Investors Rushing Out of Stocks Into Gold

Written by Staff Writer

640px NASDAQ stock market displayInvestors Rushing to Gold And Bonds As Stock Market Continue Tumbling -Newsweek
"Investors are turning to gold and bonds as stock markets continue tumbling amid increased trade tension between the United States and China. Trump's threat last week to impose tariffs on $300 billion more Chinese imports sparked investor fears. Beijing's decision to let its currency fall below the symbolic ratio of seven yuan to one dollar, which the U.S. responded to by labeling China a currency manipulator, has further sparked fears about the escalating trade war.

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Loose Money, Big Deficits, Iceberg Ahead

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Stocks TitanicLoose Money, Big Deficits, and the Iceberg Ahead -Spectator
"Donald Trump accuses China of currency manipulation as he pressures the Federal Reserve to do the same thing. If you can't beat 'em, join 'em. 'Our problem is not China,' the president tweeted on Wednesday. 'We are stronger than ever, money is pouring into the U.S. while China is losing companies by the thousands to other countries, and their currency is under siege - Our problem is a Federal Reserve that is too proud to admit their mistake of acting too fast and tightening too much (and that I was right!). They must Cut Rates bigger and faster, and stop their ridiculous quantitative tightening NOW.'....

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Economic Growth Cut, Recession Odds Up

Written by Staff Writer

graph 3078546 640Recession odds rise as economists cut growth estimatesMSN/Bloomberg
"The likelihood of a U.S. recession in the next 12 months rose to 35% in an August survey of economists, from 31% forecast previously, as global trade tensions fuel economic uncertainty. Growth in the world's biggest economy will average 2.3% this year, down from 2.5% seen in a July survey.

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