Good morning. There are many economic indicators out there – most of which aren’t too valuable once the data is collected and reported on. However, some data is fairly timely. That includes data from credit card providers on items such as outstanding debts and loan delinquencies.
Right now, we’re seeing a move over $1 trillion in total credit card debt for the first time ever. And interest rates on that debt are rising to their highest levels. Plus, over the past two years, the percentage of cardholders carrying a balance has increased from 39 percent to 47 percent.
Those trends point to a strained consumer. If the trend on balances and delinquent payments worsens, it’s possible that could eventually show up in declining consumer demand – which would likely move markets lower. Traders and investors alike should remain cautious in the coming few weeks, and look to credit trends for a sign of improvement.
Now here’s the rest of the news:
Bidenomics Has Failed In The Worst Way Possible
Recent headlines trumpet the success of “Bidenomics” at salvaging “the economy” from the chaos of the pandemic panic. Today we focus on the plight of American households – are YOU better off today? Let’s run the numbers… [Read Here]
Now BRICS Are an Even Bigger Economic Threat to the United States
BRICS failed to announce a gold-backed currency at Durban earlier this year. In a way, the Durban Accords resulted in an even more serious threat to dollar dominance. Here’s why it matters… [Read Here]
September 05, 2022
Friday’s payroll data showed that the US economy grew by 315,000 jobs last month. That’s just over expectations for a rise of 300,000. Overall, that’s good news. And most of the time, the market would cheer that on, as more jobs means more people being paid, and more spending in the economy as a result.
This time, however, is a bit different. That’s because the Fed is working to fight inflation. And in order to fight inflation, people need to spend less. For that to happen in aggregate, there need to be fewer jobs. This latest data likely sealed the deal for a 0.75 percent interest rate hike later this month, and raised the chances of rates continuing to rise into the end of the year.
That’s bad news for assets like stocks and bonds. Traders should lighten up long-side trades, and investors should continue to look for trades that can benefit from a further decline in stocks.
Now here’s the rest of the news:
World’s Biggest Hedge Fund Makes the Ultimate Case for Gold
Rebecca Patterson, chief investment strategist at Bridgewater Associates (the world’s largest and most successful hedge fund), explained how they are awaiting… [Read Here]
Ron Paul: Here’s Why Trusting the Government Leads to Poverty
I was talking to my friends at Birch Gold a couple of weeks back, and I mentioned the debasement of Roman currency. We sometimes say “debasement” when… [Read Here]
September 05, 2021
Here’s to a better YOU … and now … Today’s DarrenDaily Recap Sunday. A collection of the weeks videos from Darren Hardy. Enjoy!
Sunning sunrise at Penarth Pier at Cardiff on the south coast of Wales, United Kingdom.
September 05, 2020
Today, is the day, we learn “more about Newfoundland and Labrador.”
“So, how big is Newfoundland anyway?”
Here’s a better answer. This clever map shows you the size of one, right next to the other: What if Newfoundland was an island in the North Sea? An interesting statistic to keep in mind when looking at the side map is that the island of Nfld. is home to less than 500.000 people, while the much smaller Netherlands has a population of more than 17 million… U.K about 67 million…
Also worthy of note, is the location of Saint-Pierre and Miquelon. France. Just minutes from Newfoundland’s southern coast!
September 05, 2019
Many small and independent energy firms have struggled in recent year as oil prices have struggled to break over $60 per barrel. For the more indebted companies, bankruptcy looks likely, particularly for investments in the shale space.
But for every seller, there’s a buyer. ExxonMobil’s CEO stated that industry consolidation is a matter of time, and that the company will look for potential acquisitions in the resource-rich Permian Basin. It’s another case of the rich getting richer by taking advantage of the miscalculations of smaller players… and an important investment lesson.
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Kicking the Worry Habit
I came to the awareness that worry is like prayer in reverse. When we worry and fret over things, we make them bigger than they really are, as well as attract what we’re fussing over. It’s positive proof of the principle of visualization — only in a negative way.
Somehow, I had it wired up that worry was actually virtuous. I guess I figured I wasn’t being a good parent unless I worried about my kids. I thought I was being irresponsible if I wasn’t worrying about my business and my ﬁnances. Not so.
How’s that for a vivid picture? Most of the things we worry about are things over which we have little or no control. If we think about it, it’s stupid. Agonizing about what might occur and about things we can’t control gives away our power.
The biggest lever for change is to be aware of what you’re doing and realize how detrimental it is to your life. If you find yourself upset or anxious, check to see if you’re worrying. If so, focus on what you want rather than what you don’t want.
Wayne Dyer was quoted once of saying, “If you believe that feeling bad or worrying long enough will change a fact, then you are residing on another planet with a different reality system.” 🙂
September 05, 2018
“A market is never saturated with a good product, but it is very quickly saturated with a bad one.”
September 05, 2017
I may get a bit of flak for saying this, but the best part of the vacation is coming up. We woke for a complimentary hot breakfast at the Liverpool Best Western, packed our bags, and loaded them into the Sedona. Today is a sunny day … a great day to explore around town.
With one instructor leading the charge, and another bringing up the rear, we toured around the boardwalk, then headed-out to explore uptown Halifax. We turned an lot of heads and created a bunch of curiosity as we sped up the sidewalk, zipped across crosswalks, and maneuvered around the streets.