In the realm of international relations, the echoes of the Russia gate hoax continue to reverberate, with concerns being raised about the potential dangers of escalating tensions and criminalizing communication with Russians. The situation has been likened to McCarthyism, with a noted decline in trust in mainstream media and perceived manipulation of public opinion leading to limitations on freedom of speech. The importance of diplomatic communication and dialogue in addressing global dangers is being emphasized.
In the housing market, homebuilders are employing various strategies to sell new houses in the current mortgage-rate environment. Tactics include mortgage-rate buydowns, offering smaller houses with reduced amenities, and providing other incentives such as free upgrades. The median price of new single-family houses sold in October decreased by 3.1% from September, reaching its lowest point since August 2021. Despite the competition from sellers of previously owned houses and the rental market, homebuilders have managed to maintain sales levels through these strategies.
Meanwhile, the United Nations Educational, Scientific, and Cultural Organization (UNESCO) has released a plan to regulate social media and online communication. The plan aims to combat “false information” and “conspiracy theories” by implementing global policies through governments, regulatory authorities, civil society, and online platforms. Critics argue that these terms have been used to silence true information and political speech. Concerns about the impact on freedom of speech and expression online are growing, with critics warning that the plan will be used to silence critics.
In the financial world, there are murmurs of a potential financial meltdown and the possible collapse of big banks. While these claims are unverified, they have sparked discussions about the importance of having real money backed by gold or silver and the need to prepare for potential financial turmoil.
In the corporate sector, Amazon’s Jeff Bezos is expected to sell more shares of Amazon, potentially amounting to more than $1 billion worth of stock. Since stepping down as CEO of Amazon in 2021, Bezos has accelerated his charitable giving and has said he plans to give away much of his fortune in his lifetime.
In the commodities market, China’s top gold traders have accumulated nearly 17.5 tonnes of gold in the past week, while signs of buying exhaustion are appearing in the West. This comes as advanced positioning analytics suggest that buying programs will soon end and prices will rise above $2100/oz. The US may soon face a decision regarding the global dominance of the US dollar and its pricing hegemony over commodities.
Finally, in the consumer market, inflation has made an impact on both the psyches and the pocketbooks of American consumers over the past few years. A deteriorating employment environment could do further damage. Major retailers are suggesting that an economic landing is likely to be anything but “soft". The use of Buy Now Pay Later services hit an all-time high on Cyber Monday, contributing $940 million in online spending, up 42.5% from last year, according to Adobe Analytics, indicating that the American consumer may be reaching their limit.
This is a companion discussion topic for the original entry at https://peakprosperity.com/daily-digest/from-russia-gate-to-housing-strategies-freedom-and-financial-meltdown/