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On 3/8/2020 at 11:20 PM, IndyPoolPlayer said:

Interesting - I would expect precious metals to take off like a rocket. Au is up about $3.75 (.25%) but Ag, Pd, and Pt are all down.

The big money is taking profits to cover their margin losses in the market. Cash is king. Look at 2008 for an example of metals tanking along with stocks and then rebounding strong much sooner once the bottom formed. 

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https://www.chicagotribune.com/coronavirus/ct-coronavirus-pandemic-chicago-illinois-news-20200315-tn4rchjbazb73h6x2i4vz7v3xq-story.html#nt=oft-Double Chain~Flex Feature~top-news-curated-chain~blog-sun-10a~~1~yes-art~curated~curatedpage

 

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Gov. J.B. Pritzker announced Sunday that all bars and restaurants in Illinois will be closed to the public, beginning at close of business Monday through March 30. They will remain open for delivery, drive-through and curbside pick-up orders, the governor said.

Signs of a big quarter for DoorDash, UberEats, and GrubHub?

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Palladium just getting crushed, along with Platinum, however not really unexpected with the rapidly declining industrial demand.  Both Gold and Silver are trending downward, however all of my dealers are telling me that physical supplies of both metals are rapidly dwindling and the U.S. Mint is now out of Silver Eagles.  The paper markets for both Gold and Silver may soon meet the realities of the supply/demand situation for physical bullion.

https://www.apmex.com/palladium-price

Edited by Rogue
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1 hour ago, Rogue said:

Palladium just getting crushed, along with Platinum, however not really unexpected with the rapidly declining industrial demand.  Both Gold and Silver are trending downward, however all of my dealers are telling me that physical supplies of both metals are rapidly dwindling and the U.S. Mint is now out of Silver Eagles.  The paper markets for both Gold and Silver may soon meet the realities of the supply/demand situation for physical bullion.

https://www.apmex.com/palladium-price

I have about 30 oz of Palladium that I mostly bought back in 2007-2008. I missed the peak :(

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4 hours ago, Rogue said:

Palladium just getting crushed, along with Platinum, however not really unexpected with the rapidly declining industrial demand.  Both Gold and Silver are trending downward, however all of my dealers are telling me that physical supplies of both metals are rapidly dwindling and the U.S. Mint is now out of Silver Eagles.  The paper markets for both Gold and Silver may soon meet the realities of the supply/demand situation for physical bullion.

https://www.apmex.com/palladium-price

Palladium, Platinum, and Silver are all more industrial metals than "precious metals." They are being impacted just like Copper, oil, and such by the global decrease in demand. Gold is a bit different. It's a historical hedge against whatever demons people can think up and is the one metal virtually all central banks maintain large amounts of. Relative to historicals, Gold is richly priced. My personal view is that the ratio of gold to platinum prices reflect a general, widespread, economic instability fear and it's been kicking around near all time highs for quite a while.

 

I think Palladium's run is largely just people buying on uptrends. That happens with anything and Pd's run was triggered by automakers looking for a cheaper alternative to Pt. Silver did that decades ago when the Hunt Bros. cornered enough of the market. Widely used at the time in film, prices went through the roof and people piled on following the trend. There's a lot of that, Tesla being a prime current example. At least until the last few weeks.

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8 hours ago, hegemony said:

I have about 30 oz of Palladium that I mostly bought back in 2007-2008. I missed the peak :(

Hege -

I remember you posting that you were in Palladium, sorry you missed the peak, it almost hit $3K/ounce! Were you at least tempted to liquidate a portion of your investment then?

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5 hours ago, Rogue said:

Hege -

I remember you posting that you were in Palladium, sorry you missed the peak, it almost hit $3K/ounce! Were you at least tempted to liquidate a portion of your investment then?

I was too lazy and didn't want the capital gains in 2019 or 2020.

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6 hours ago, hegemony said:

unemployment may hit 20%?

 

seems like hyperbole and I hope it is just overestimating.

 

Draconian estimate that assumes the government indulges in popcorn while airline and hospitality companies go belly up, fear rules the day, and those consumers who are left with a job seriously rein in spending.

 

I would hope that if a lifeline is tossed out where appropriate, that there's a bit of a rainbow on the horizon.  If most employers continue to pay wages during pandemic related shutdowns, when the air clears consumers will be richer by unspent wages, with a thirst to now spend and travel (at least domestically).  We could see a spending surge that would provide a economic boost that handily compensates for the shutdown induced pain.

 

 

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5 hours ago, hdporter said:

 

Draconian estimate that assumes the government indulges in popcorn while airline and hospitality companies go belly up, fear rules the day, and those consumers who are left with a job seriously rein in spending.

 

I would hope that if a lifeline is tossed out where appropriate, that there's a bit of a rainbow on the horizon.  If most employers continue to pay wages during pandemic related shutdowns, when the air clears consumers will be richer by unspent wages, with a thirst to now spend and travel (at least domestically).  We could see a spending surge that would provide a economic boost that handily compensates for the shutdown induced pain.

 

 

I reined in spending a decade ago.

 

Here in NC there has been some talk at the state level of temporarily tweaking our eviction laws. Instead of getting kicked out in 30 days, it might be 60. Doubtful it will happen though. 

 

My email has been getting slammed from hotels I've stayed at in different vacation hot spots, telling me they are open for business and most restaurants have take out and delivery.

 

 

 

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55 minutes ago, NorCalR1 said:

I would think all in-person or panel interviews would be cancelled, except for essential hires.  

It is disingenuous for a company to claim to the media that they are hiring 100K people and then NOT conduct a scheduled interview.  They didn't try to shift it to telephone or online...they CANCELED the interview.  THAT is stupid.  It says the company has middle management that does not know what in the hell they are doing...which considering it is Amazon, really would not surprise me.

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I don't pay much attention to sponsored ads that turn up in my FB feed, except when they become excessive. 

 

Continental Finance....aka Surge MC seems to be ramping up the social media spending.

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