Double Eagle Headlines: May 26, 2020

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Class of 2020 entering worst job market since Great Depression
The Class of 2020 started its senior year in a boom time, with the national unemployment rate at a near-record low of 3.7%. But in the bust driven by the coronavirus, 4 million new graduates are now entering the worst jobs market since the Great Depression. National unemployment stands at a jaw-dropping 14.7%, but the rate rises to 25.7% for those aged 20-24, according to the Bureau of Labor Statistics. And that’s before the potential workforce is boosted by those leaving college.. (Continue to full article)

Gold Prices Could Hit a Record High by Year End. Just Don’t Expect an Easy Ride
U.S. gold prices are likely to gradually increase over time, says Darwei Kung, portfolio manager and head of commodities at asset management firm DWS Group.

An increase in individual investor demand has been “offset by reduced demand from central banks,” as many of these bank reserves are being depleted due to the economic downturn… (Continue to full article)

The Worst Unemployment Spike In U.S. History – 1 Out Of Every 4 Workers Has Filed For Unemployment Benefits In 2020
Even though most U.S. states have begun the process of “reopening” their economies, the unprecedented tsunami of job losses that we have been experiencing just continues to roll on. On Thursday, we learned that another 2.4 million Americans filed initial claims for unemployment benefits during the previous week, and that brings the grand total for this pandemic to a whopping 38.6 million. To get an idea of just how badly this swamps what we witnessed during the last recession, but… (Continue to full article)

Self Imposed House Arrest Nets 2 Kilos of Gold!
There is at least one tremendously good story coming from the global self imposed house arrest. Two children have found 2 one kilo gold bars while playing at a family members house. Can you imagine finding two gold bars weighing in at approximately a kilo per bar!! That’d be alright with me… (Continue to full article)

Gold vs Cash in a Financial Crisis: Back to the Future – again, and again and again…
Mattress-stuffers or bullion holders? Who fares better in a crisis? North American investors are divided between those who believe the decade-long stock market bull is going to keep running into the 2020s, and investors who, wary of something terrible happening, are hoarding cash and gold.

Even more interesting than hoarding cash, instead of buying stocks, is what nervous investors are doing with it. As central banks print up to $100 billion per month to smooth volatility and goose economic growth, an equivalent amount in hard currency and precious metals is “disappearing”… (Continue to full article)

Central Banks Are Destroying What Was Left of Free Markets
The Fed and other central banks are entering into a huge money-printing experiment in hopes of keeping the government-spending machine going at full speed forever. The unintended consequences will be highly destructive… (Continue to full article)

Fed & Federal Money Printing OFF THE CHARTS, Buy Gold & Silver Now…BEFORE It’s Too Late!
Money printing by the Fed and Congress is off the charts. This is why money manager Peter Schiff thinks precious metals are a no-brainer investment. Schiff says, “It’s not that gold is gaining in value, it’s that fiat currencies are all losing value. Gold is the one stable factor. It’s the one thing governments can’t create out of thin air. Every currency in the world, except the dollar, are hitting new record lows against gold. You need more Euros, Rands or Aussie dollars to buy an ounce of gold. . . . The U.S. dollar is losing value more slowly, but this is going to change. We are going to win the race to the bottom… (Continue to full article)

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