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.

 

 

 

Now It's a Climate 'Emergency' -WSJ

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hand 792920 640Now It's a Climate 'Emergency' -Editors/Wall Street Journal
"When President Trump declared a national 'emergency' in February to take money from the Pentagon to build his border wall, these columns warned he was setting a precedent that Democrats would exploit. Well, that day has arrived, as Democrats last week introduced a resolution in Congress declaring a national emergency due to climate change. Senator Bernie Sanders and Representative Alexandria Ocasio-Cortez introduced a joint resolution declaring that the climate Apocalypse is nigh, and demanding 'a national, social, industrial, and economic mobilization of the resources and labor of the United States at a massive-scale.'

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U.S. Middle-Class Fears a Recession

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money case 163495 640Recession fears rise for middle-class families -CNBC
"Middle-class Americans are less optimistic about their economic prospects than they were just six months ago, according to a new report from CUNA Mutual Group...They graded their chances of achieving the American dream as a 'C,' down from a 'B-minus' in the fall, the insurance provider found. Close to half were increasingly concerned about an upcoming recession. A separate report by Allianz Life found that 48% said they fear a major recession, up from 46% in the first quarter of 2019 and 44% one year ago. 'Americans keep hearing that this is the longest economic expansion in history,' said Steven Rick, CUNA Mutual's chief economist. 'People's expectations are that we are due' for a recession....'This should be a wake-up call to families to start shoring up their finances now, whether that takes the form of cutting spending, reassessing their savings to avoid having to cut into their retirement to stay afloat or even refinancing a mortgage if that'll put them in a better position,' Rick said."

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1-Ton Gold Coin Lands on Wall Street

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WallStreetA Gigantic Gold Coin Makes Its Way to Wall Street -Wall Street Journal
"Richard Hayes plans to leave a $45 million coin on the streets of Manhattan all day Tuesday, but he isn't particularly worried about a thief carting it off. The coin - with Queen Elizabeth's profile pressed onto one side and a mid-hop kangaroo on the other - is beyond the wiles of the average pickpocket. It measures nearly 32 inches in diameter and is almost 5 inches thick. Oh, and it weighs about 2,200 pounds...

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Citizens Agree on Trump Re-election

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Trump Nashville 01Democrats and Republicans agree - Donald Trump will be re-elected -New York Post
"It's a mixed marriage of a certain kind. He was a Trump supporter all along and she ­detested the man. But these days, they agree on one big thing: The president will be ­re-elected. Easily. 'Easily?' I asked, making sure I heard them correctly. Yes, they insisted, with her nodding as he said Democrats had gone bonkers and voters would respond by giving Trump four more years.

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