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4.18.19 - Trump Fed Picks Favor Gold Standard

Gold last traded at $1,276 an ounce. Silver at $14.95 an ounce.

NEWS SUMMARY: Precious metal prices traded steady Thursday despite a stronger dollar. U.S. stocks traded mixed as 'Medicare for All' proposals resulted in steep health-care sector losses for a third straight day.

 

 

 

Homes Unaffordable in 70% of Nation

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key 2323278 640Average Americans can't afford a home in 70 percent of the country -CBS News
"Even with rising wages and falling mortgage rates, Americans can't afford a home in more than 70 percent of the country. Out of 473 U.S. counties analyzed in a report, 335 listed median home prices more than what average wage earners could afford, according to a report from ATTOM Data Solutions. Among them are the counties that include Los Angeles and San Diego in California, as well as Miami-Dade County in Florida and Maricopa County in Arizona.

Democrats Love Wealth Tax, EU Shuns

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control 1027103 640Democrats Love a Wealth Tax, But Europeans Are Ditching the Idea -Bloomberg/Yahoo
"Democrats are busy finding new ways to tax the rich. The most straightforward way to do that - an annual tax on household wealth - is an idea with deep roots in Europe that several 2020 hopefuls are hoping to import to the U.S. Yet of the 15 European countries that tried a wealth tax in recent years, only four still employ it. Most of those governments ultimately were underwhelmed by the amount of revenue raised and overwhelmed by the difficulty in collecting an accurate tax. Nevertheless, the idea is gaining steam among Democrats trying to unseat President Donald Trump in 2020.

U.S. GDP Growth Revised Down Q4 2018

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blur 1853262 640U.S. GDP Growth Revised Down to 2.2% Rate in Fourth Quarter -Wall Street Journal
"The U.S. economy grew at a slower rate than initially estimated in the fourth quarter, closing a year of strong economic growth on a softer note as a key measure of U.S. corporate profits weakened. Gross domestic product, a broad measure of goods and services produced across the economy, rose at a 2.2% annual rate in the fourth quarter, adjusted for seasonality and inflation, the Commerce Department said Thursday. The agency had estimated earlier fourth-quarter growth at a 2.6% annual rate.

Retirement: Americans Not Saving Enough

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Retirement crisis: Most Americans aren't saving enough, are you? -Fox Business
"Despite the fact that about half of Americans are participating in a retirement plan at work, most people are falling behind where contributions are concerned. That’s according to a study from researchers at Stanford Center on Longevity, which estimated that the majority of American workers aren’t on a path to be able to sustain a full-time retirement by the age of 65.

Americans Retiring Into Homelessness?

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woman 2924698 640smWhy Americans Are Retiring Into Homelessness -OZY
"Research indicates that a growing number of people are falling into homelessness during the period meant to be their golden years. Researchers from the University of California at San Francisco (UCSF) interviewed 350 homeless adults aged 50 and older through population-based sampling in Oakland, California, over five years.