Retirement?
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Retirement?
Just last month, Powell stated, based on the current economic climate, the Fed would wait for specific data before making any forward comments; but Fed members love an open mic, a camera and it´s game on...let´s talk, data, who cares...they simply can´t help it.
While on the subject of data; China reports show a slowing economy.
Perhaps one of the most interesting numbers was related to exports...down 14.5%.
This is not only in China, many countries are facing significant slowdowns. Pay close attention, as they say, the only constant is change.
Lately, the soft landing tagline is everywhere; how about this little detail for all of you...for the first time ever...personal credit card debt surpassed $1 TRILLION DOLLARS in the U.S.
Why, you might ask? Inflation is drowning the average person.
People need to float funds to make it to the next month, but Powell and Company are sticking to their story, inflation is 3%. No problem, 3% it is.
More food for thought? The stock market has outperformed by far most estimates this year. You would most likely think investors are enjoying the price appreciation, but that's not the case...emergency withdrawals for hardship from 401k retirement accounts are sending SOS signals like a ship lost at sea.
The figures are shocking, the volume of withdraws are at unprecedented levels.
In closing, it appears that Moody's Credit Rating is evaluating the 6 largest banks in the U.S. for a possible credit rating downgrade.
What about the small banks, how are they doing?
Make it happen, don´t wait to see it happen.
Short-term: Headlines are your buying opportunities.
Long-term: Fundamentals are your guide.
Much success to all. |
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