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1.16.19 - Why Sanders' $15 Minimum Wage Is Irrelevant

Gold last traded at $1,293 an ounce. Silver at $15.63 an ounce.

NEWS SUMMARY: Precious metal prices rose Wednesday on safe-haven buying and a flat dollar. U.S. stocks rose as investors cheered strong quarterly earnings from major banks like Goldman Sachs and Bank of America.

 

 

 

Americans Already Returning Holiday Gifts

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present 1893642 640Americans are already returning holiday purchases -CBS News
"Holiday gifts should still be under the tree, yet returns are already in full swing. The advent of online shopping and hard-selling promotions by retailers had lots of consumers buying gifts for themselves, aided in their efforts by free shipping for deliveries and returns. That's according to UPS, which expects holiday returns will hit their peak on Wednesday, with an estimated 1.5 million packages returned. In years past, returns didn't really pick up steam until January, and UPS said it still expects another wave will have 1.3 million packages returned on the third day of the new year.

Gold Shines Amid Darkening Outlook

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gold 295936 640Gold Is Shining Again -Rush/Investing
"The recovery in gold prices from August lows is gaining momentum. On Wednesday, the precious metal has extended weekly gains to fresh mid-July highs marginally above $1,251 and holds in the positive territory, expecting fresh short-term drivers. It looks like gold is shining again, after a break of the aggressive bearish trend.

Good News About the Coming Crash

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Bull CrashGood News About the Coming Crash -Bonner/Bonner And Partners
"The last leaves are falling from the trees. And the last days of December are counting down, like the quiet moments before an execution....If the stock market keeps sliding, a lot of problems will disappear - the trade war, the search for a chief of staff at the White House, the 'shutdown'… Nancy Pelosi, Trump. Who will care about any of this when the Dow loses 10,000 points?....Worried about inequality? Just let the correction do its work. The rich will be taken down a peg. On Friday, for example, the selloff took stock prices down by more than 2%.

"Prepare for the worst" -Greenspan

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460px Alan Greenspan IMF 116greenspan2lgAlan Greenspan: Investors should prepare for the worst -CNN Money
"Alan Greenspan says the party's over on Wall Street. The former Federal Reserve chairman who famously warned more than two decades ago about 'irrational exuberance' in the stock market doesn't see equity prices going any higher than they are now. 'It would be very surprising to see it sort of stabilize here, and then take off,' Greenspan said in an interview with CNN anchor Julia Chatterley.

The White House Winning Fed Fight

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WhiteHouse SmallWhen the White House Fights The Fed, The White House Wins -- Always -Forbes/Forbes
"The Federal Reserve backed off its plans for aggressive interest rate hikes next year after President Donald Trump relentlessly and personally bashed chairman Jerome Powell - a recent Trump appointee, no less. The Federal Reserve and its defenders stress the importance of its independence from outside interference....