How much had diesel gone up since the end of October?
The supply chain is about to take a huge dump again.
And the layoffs are coming still.
This is a short squeeze. I doubt it lasts long.
Gold and Silver are up because the Governments will start talking about “stimulation” once the layoffs come.
The world isn’t ending, but watching and trading “tick by tick” is simply going to give you ulcers.
Multiply the national debt ($33T) by the average of the Treasury rates (approx 4.2%.) Its $1.3T per year in debt service. That’s insane.
Hope for disaster dies hard. I’ve watched people go through this so many times. The recovery from the last big decline (2007 etc.) was really fun. This is just the very beginning, and there will still be ups and downs.
A 7% inflation rate more than offsets the fed rates.
I just payed $6.19 for off road diesel. They haven’t started cutting it yet because of the warm fall and my supplier says they are having trouble getting kerosene. Once they finally start cutting the fuel I expect prices above $7.50 and road fuel $8.00. That should help bring down this “transitory inflation”.
$21.69 per ounce is silver today. I still have some silver (bars) I bought in 1983 at $16 per ounce. Beware of silver in a deflation. What we have today is a combination of some sectors deflating and some inflating.
Gold price is doing very well today. I am kinda shocked. I have not looked for 5 weeks or so. Maybe gold is up due to the current crypto disaster. In my book, the crypto craze has been sucking the life out of the AU price for at least five years