John Rubino – Comments On Gold, House Market Issues and A Possible Major Driver For Nuclear Energy
John Rubino, Founder of the Dollar Collapse website joins us to share his thoughts on the 4th quarter run higher in gold, issues in the US housing market and a possible shift in the energy sector toward nuclear.
Starting with gold, John points to central bank buying, physical shortages and currency devaluation as key drivers for the metal. On the housing front we discuss the recent weak data and how higher interest rates will continue to pressure the market. Finally on the energy front John thinks that uranium is critical with the shift to more nuclear power and smaller reactors.
2022 Marked The End Of Cheap Mortgages And Now The Housing Market Has Turned Icy Cold
Arezou Rezvani – NPR News – December 27, 2022
?The sharp increase in mortgage rates has cast a chill on the housing market. Many buyers have paused their search; they can longer afford home prices they were considering a year ago. Sellers are also wary of listing their homes because of the high mortgage rates that would loomover their next purchase.”
“People are stuck,” says Lawrence Yun, chief economist with the National Association of Realtors.
Yun and others describe the market as “frozen,” one in which home sales activity has declined for 10 months straight, according to NAR. It’s the longest streak of declines since the group started tracking sales in the late 1990s.
The 2022 Housing Market: A Tale Of Two Halves
By Connie Kim – HousingWire – December 27, 2022
“Marty Green thinks of the housing market in 2022 as two very different movies. The first half of the year, with mortgage rates in the 3s and 4s, was like ‘Fast and Furious.’ Houses were selling at a fever pitch in a matter of days, with multiple offers, waived contingencies and buyers paying $100,000(!) over asking price. High octane stuff.”
But the housing market in the second half of 2022? “The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. The number of home listings dried up, contracts were canceled, the few buyers still out there demanded concessions, mortgage rates spiked to 7% and homebuilder sentiment hit rock bottom.
By September, a full-fledged housing market recession had set in.
“The 2002 housing market has been a tale of two halves,” said Green.
“And, the market looks likely to remain frozen well into 2023,” experts told HousingWire.
Rolling Recession To Lead To ‘A Couple Of Rough Months’ In Early 2023
Tue, December 27, 2022 – Yahoo Finance
“Defiance ETFs CEO and CIO Sylvia Jablonski joins Yahoo Finance Live to discuss inflation, Fed rate hikes, recession fears, consumer sentiment, energy, and the outlook for markets going into 2023.”
“I think that, you know, where we’re at today is probably where we’re going to be in a couple of months, right? We have a Fed that remains hawkish. He wants to get to that 5% plus terminal rate. We’ll see if he actually gets there because a lot of the work that the Fed has done, you know, hasn’t really impacted the economy just yet. There’s a little bit of a lag to that, as there is to job numbers and some of the data that they look at. So who knows?”
“But let’s take them for their word and assume that it’s going to be a couple of– a couple of rough months to start the year. But the good news is that inflation has fallen from a peak of 9.1% to 7.1%. It’s trending lower. You know, you’re starting to see some softness in the housing market.”
“So you do see this rolling recession that’s actually happening out there. Consumer sentiment is terrible. Retail spending, although the consumer is resilient, it’s starting to give a little bit. So a lot of this tells us that the Fed might not have to do as much as– as, you know, he says.”
Rick Rule’s Advice for 2023: ‘If You’re Dumb and Trusting, You Will Be Separated From Your Money’
Stansberry Research – 12/21/2022 #VIDEO
“Increasing interest rates are very bad for the long bond market, and I remain very cautious in the face of higher interest rates,” he warns Daniela Cambone in this edition of Powershift: Outlook 2023. “My fear is that the structure of the U.S. economy is too dependent on artificially low interest rates and liquidity,” Rule continues. “The U.S. dollar is the most liquid and transparent market in the world, and I think the U.S. government is doing it’s very best to blindly wreck and weaponize it,” he asserts. “There’s a political conundrum we have to face five years from now, with the chronic underfunding of pension funds almost guaranteeing poverty,” says Rule . He believes that, “the very volatility in bitcoin that attracted speculators and promoters, reduced its utility as a medium of exchange and as a store of value.” Rule concludes, “You need to be your own regulator. When you believe the big regulators have your backs, that’s the beginning of the end of your fortunes.”
Is Tether Next To Fail and When Does Bitcoin Price Blast Off? – Simon Dixon Gets Candid
Stansberry Research – Dec 23, 2022
“We’ve had our fair share of crypto drama and villains [in 2022], and we now have five companies in chapter 11,” exclaims Simon Dixon, CEO & Co-Founder BnkToTheFuture.com. “This is really the year of blame-shifting from narcissistic characters that seem to be protecting their backs [like Alex Mashinsky and SBF],” he tells Daniela Cambone in this edition of Powershift: Outlook 2023.
“FTX essentially recreated many of the issues that we’ve experienced with political control in order to manipulate regulations,” Dixon continues. “There’s a danger of people thinking that the blockchain can’t be manipulated, but there’s always humans and greed,” he illustrates. “You’ve got to be really careful about slapping the word decentralization in order to create a full sense of security,” Dixon says. “The companies growing too fast, those are the red flags… slow and steady wins the race, the faster they grow the faster they fall,” he warns.
GOTS………………. ricky should have been saying that decades ago…………. lol…….
Haha! I think R.R. was saying that same thing decades ago. He cracks me up with his simple but penetrating one liners.
History Lesson: Trust Gold Rather than Sovereigns
By Matthew Piepenburg – December 21, 2022
“The Fed’s 2022 war (and singular focus) against inflation has equally ignored the subtleties of budget deficits, currency expansion and the panache of natural market forces, resulting in the destruction of the all-mighty USD’s purchasing power as graphically seen in almost identical fashion here:”
Recession Risk, Stagflation Set Stage For Positive Gold Performance In 2023
December 26, 2022 – Mining.com
“Going forward, the interplay between inflation and central bank intervention will be key in determining the outlook for gold’s performance in 2023, according to the World Gold Council (WGC).”
“Economic consensus calls for weaker global growth akin to a short, possibly localized recession, falling – yet elevated – inflation, and the end of rate hikes in most developed markets.”
Gold Price Rises To Six-Month High On China Reopening Optimism
December 27, 2022 – Mining.com
“Meanwhile, the US dollar index edged lower, and benchmark 10-year yields held close to their highest in over a month.”
“Bullion has gained nearly $200 after falling to a more than two-year low in late September, as expectations about slower interest rate hikes from the Fed dimmed the dollar’s allure and reduced the opportunity cost of holding gold.”
“The gold futures bulls have the overall near-term technical advantage. Prices are in a seven-week-old uptrend on the daily bar chart,” with the first resistance at $1,825 an ounce, said Jim Wyckoff, senior analyst at Kitco Metals, in a Reuters note.
Luke Gromen – Pricing Oil In Gold Is “Inevitable”
Wealthion w/ Adam Taggart – Dec 16, 2022
Uranium Market Minute – Episode 199: The Last Necessary Pound Sets the Price
Justin Huhn – Uranium Insider
Let’s have another Uranium One……………. Hilly and Billy need another new estate…. lol
Good one OOTB! 🙂
Many don’t realize that UEC now holds all those old US-based Uranium One assets when they purchased them this last summer, along with acquiring Anfield Energy’s other old Uranium One assets. Now Uranium Energy Corp has all those projects that were so controversial to give away to Rosatom a decade ago, and hardly anyone in the main stream media even noticed or covered it.
Uranium Energy Corp (UEC) Receives $18 Million and 25 Wyoming ISR Projects Related to the Uranium One Acquisition
June 8, 2022
The only time you should go into debt is when you want to buy a home, but you should never purchase a home when it is in an obvious bubble like now. Easy to say hard to do! DT