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News — debt

Leading Market Strategist Warns: Central Banks are Insane, an Impediment to Progress

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By John McDonald As more and more players on the S&P 500 and the Dow Jones Industrial Average up the ante on their year-end-returns predictions, analysts like Sven Henrich, founder and lead market strategist of NorthmanTrader.com, are getting nervous. In a recent op-ed posted on MarketWatch, Henrich asked: “Why does the global economy need rescuing after 10 years of non-stop monetary stimulus?” The answer, he warned, is unsettling. According to Henrich, investors are becoming so afraid of any market “pain” that central banks now feel too much pressure from politicians and their associated governing bodies. The banks, which were created...

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The U.S. Treasury Could Run Out of Cash in September

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By John McDonald The U.S. Treasury could run short on cash before Congress reconvenes in September if the legislature fails to raise the debt ceiling before Congress leaves for the end-of-summer recess.  Treasury Secretary Steven Mnuchin wrote a letter to House Speaker Nancy Pelosi mid-July, warning, “Based on updated projections, there is a scenario in which we run out of cash in early September, before Congress reconvenes.” Mnuchin is hoping his letter will spark a spirit of cooperation between the left and right sides of the aisle so that the White House does not have to offer a one-year continuing...

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Buried Under A Lifetime of Debt

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By John McDonald Excessive debt is among the biggest entrapments in which to be caught. Day after day and sleepless night after a sleepless night, Americans facing a disproportionately – and dangerously – high debt burden live in a financial cage of their own making, sometimes motivated by the highest of ideals (like starting a new business or getting an education) and sometimes motivated by the high-consumption lifestyle that has become the norm in the land of the free and the home of the brave. Consider the pervasive issue of student debt, for example. The case for pursuing higher education...

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Negative-Yield Debts Hit Record Volume in June

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By John McDonald Government bonds are supposed to be among the safest, most secure investment vehicles around. However, an increasing volume of these bonds the world over are now yielding below zero, with that number hitting a record-setting $13 trillion worth of bonds at the end of June of this year.  At that time, both Austrian and French 10-year bonds entered negative territory. Bonds with negative yields are investments guaranteed to be worth less than the bond’s principal amount if they are held until maturity. With more and more sources of potential income vanishing, foreign investors may be more likely...

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Will The Next Market Correction Be Cataclysmic?

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  By John McDonald With some amusement, I read a recent article on MarketWatch by Mark Hulbert. The core concept behind the article was to use available data to make a relevant prediction about the severity of the downturn whenever the U.S. stock market next tumbles into a bear market phase. Such prediction is, as Hulbert begins by admitting, something of a fool’s game. To spoil the surprise for you, I’ll go ahead and tell you that Hulbert concludes that the next bear market will sink the Dow Jones Industrial Average by a whopping 35.3%. However, I strongly question the basis...

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