Economist’s “ News and Views” Friday 8-30-2024
BRICS 2024: 126 Nations Eyeing US Dollar Exit
Arcadia Economics: 8-30-2024
The October BRICS meeting is suddenly not that far away.
And now as Vince Lanci reports in today's show, we're up to 126 nations that are set to attend the BRICS Municipal Conference. Showing increasing interest in joining the bloc and moving away from reliance on the US dollar.
Vince also talks JP Morgan's gold comments, Nvidia's earnings, and the rest of the precious metals news this morning. To find out more, click to watch the video now!
Debt Crisis Spiraling Out Of Control | Alasdair Macleod
Liberty and Finance: 8-29-2024
Alasdair Macleod discusses the imminent financial crisis stemming from the Western world's escalating government debt, which now exceeds levels seen during World War II.
He highlights the dangerous debt trap where debt growth outpaces income growth, exacerbated by a lack of foreign investment and rising inflation.
Macleod warns that the U.S. dollar is in a precarious position, with rising interest rates and a potential recession contributing to economic instability.
He critiques the government's policies, particularly the approach to unrealized capital gains taxes, as a manifestation of the broader problem of currency devaluation.
Macleod underscores that gold is maintaining its value amidst this turmoil, driven by global shifts away from fiat currencies and central banks' increasing gold reserves.
INTERVIEW TIMELINE:
0:00 Intro
1:35 Topic outline
3:08 Debt trap
22:53 Stocks vs gold
33:15 Russia/Ukraine conflict
42:02 Macleod Finance
‘Middle-Class Squeeze’: U.S. Government Spending and Real Wages Are Under Pressure - E.J. Antoni
Kitco News: 8-29-2024
Jeremy Szafron, Anchor at Kitco News, interviews E.J. Antoni, a public finance economist from the Heritage Foundation and senior fellow at Unleash Prosperity.
In this discussion, Antoni dives into the U.S. economy’s current state, exploring whether recent GDP growth is sustainable or merely borrowing from the future.
Antoni provides his analysis on the real impact of inflation, the federal debt crisis, and the accuracy of government-reported job data.
The conversation covers the underlying vulnerabilities in the economy, from consumer debt at record levels to the challenges facing the labor market.
00:00 – Introduction
01:16 - Is GDP Growth Sustainable or Borrowing from the Future?
03:41 - Consumer Spending: Resilience or Credit Dependency?
06:32 - Inflation Driven by Government Spending
09:54 - The Growing Threat of National Debt
12:47 - Can We Trust Government Job Data?
15:33 - Small Businesses and Regulatory Burdens
18:23 - Middle-Class Erosion and Real Wages
21:48 - Recession Indicators: Are We Already There?
24:35 - Long-Term Stagnation: Lessons from Japan