Diamond News Archives
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American consumers are starting to cut costs on mainstays from toothpaste to baby formula as inflation hits a swath of the economy that had thus far proven resistant to substantial price increases.
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The recent sharp rally in stocks was one for the record books. But until the technical data proves otherwise, financial advisor Lance Roberts regards this as a bear market rally, more likely to reverse soon given current overbought levels. Which is why he's now taking profits and lightening up on stocks. And adding to his US Treasury bond position.
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Commentators are trying to make sense of Russian moves. However, there is a back story which differs from much of the speculation, which this article addresses.
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Which is a long way of saying that it’s not just that rates will go up, it’s that some trade routes won’t get funding at all. At least not in dollars. Full PDF Here: https://plus2.credit-suisse.com/shorturlpdf.html?v=51io-WTBd-V
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In 1919, the U.S. was forced to abandon much of the global decision-making consensus it sought as other powers balked. In 1945, the catastrophe partly caused by 1919’s reparations against Germany led the Allies, then including the Soviet Union, to craft a consensus-based, global financial order resting on a neutral reserve asset — gold — that all believed would ensure the balance of power stayed balanced. After 1971, the U.S. abandoned the gold standard and gained increasing clout as the dollar replaced gold as the world’s go-to reserve currency. The result was a long-lasting, if often uneasy, financial order empowering the increasingly globalized, financialized system that has come to advantage the U.S. at the growing cost of wealth inequality.
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