Last quarter, we predicted that excess levels of debt, bloated central bank balance sheets and declining investor confidence in public institutions could support continued strength in precious metals. This quarter, we get to add another factor…
Thought Leadership Archive
As we entered the 3rd quarter, there were three main questions that, in our opinion, could influence whether stocks could continue their climb higher. Would the Federal Reserve cut the Fed Funds rate? Could the elevated…
The third quarter of the 2025 unfolded with an unusual quietness in the markets, especially compared to the turbulence of Q2. Volatility remained muted and stock indexes drifted steadily higher. In contrast to the prior quarter’s…
What is the true state of the U.S. economy? After all, it seems as though the powers that be seasonally adjust, revise and otherwise massage the data to such an extent, it is nearly impossible for…
Listen to the full episode, here. Key Points Sam asserts that corporate earnings reports were the most reliable data source for assessing consumer health, especially during a government shutdown when official economic data was unavailable. [03:33] He…
This past Wednesday, the “spot” price for gold closed above $4,000/troy ounce for the first time ever. By this measure alone, the shiny stuff is as expensive as it has ever been. At the end of…
This morning, the Bureau of Labor Statistics (BLS) did NOT release “The Employment Situation – September 2025” as it was supposed to do. So, the markets will have to wait a little while longer to ascertain…
Listen to the full episode, here: Key Points The immediate impact of the government shutdown was deemed minimal for the general public, though it was acknowledged to be difficult in the short term for furloughed federal…
Perhaps not surprisingly, people frequently ask me about the potential impact artificial intelligence (AI) might have on the labor markets and, therefore, the U.S. economy. After all, consumer spending makes up close to 70% of Gross Domestic…
Listen to the full episode, here. Key Points The Federal Reserve’s rate cut only directly impacted the overnight lending rate between banks, not long-term rates like mortgages, which are influenced by broader economic expectations. Mortgage rates…