Originally published at: https://peakprosperity.com/daily-digest/sec-sets-climate-disclosure-rules-gold-surging-to-new-highs/
Politics
Former President Trump’s warnings about the Biden-Harris administration’s policies potentially leading to the “abolishment of the suburbs” have resurfaced amid reports of increased crime and housing crises in suburban and rural areas. Over ten million unvetted illegal immigrants have reportedly been relocated to these areas, leading to incidents involving armed gang members and overwhelmed local resources. Trump continues to criticize these policies, promising to protect single-family zoning and prevent the construction of low-income housing in suburban areas. He also plans to shut down sanctuary cities and initiate a large-scale deportation operation if re-elected.
In Aurora, Colorado, the police have identified ten members of the Venezuelan prison gang Tren de Aragua (TdA) linked to violent crimes and apartment takeovers. Despite initial denials from political figures, the police have confirmed the gang’s presence and activities. The city of Aurora has clarified that while TdA’s activities are concerning, they are limited to specific properties and do not represent a city-wide takeover.
Economy
In Europe, the economic landscape remains challenging as the European Central Bank (ECB) cuts rates again, reflecting ongoing economic distress. Despite rising nominal prices, real wages in the US and Europe remain below pre-2020 levels. Volkswagen and other automakers illustrate this issue, with rising revenues but stagnant production. The ECB’s rate cuts aim to address employment concerns, but the transition from nominal to real economic values is proving painful. Germany’s bond market volatility underscores the recessionary process, and the ECB’s optimistic growth projections face significant hurdles due to weak domestic demand and global economic challenges.
Gold prices have been surging, reaching all-time highs, with UBS analysts predicting it could hit $2,600 per ounce by year-end. The gold chart shows a significant rise, suggesting continued upward movement despite expected volatility. Historically, gold’s response to recessions varies, but current economic fragility and high perceived counterparty risk are likely to push prices higher. Technical analysis and market perceptions indicate that gold could reach $3,500 within 12 months.
The global economy faces significant challenges, with the U.S. federal debt surpassing $35.3 trillion and total U.S. debt exceeding $100 trillion. Market analyst Gordon Long discusses the shift from capitalism to “creditism,” where economic growth is driven by increasing debt. This shift has led to higher volatility and inflation, ending the era of the “Great Moderation.” Long warns of the risks associated with the highly leveraged derivatives market and suggests focusing on real assets like commodities and real estate. Despite significant risks, there are substantial investment opportunities for those who can navigate the complexities effectively.
The SEC’s new climate disclosure rules, set to take effect in March 2024, mandate that large U.S. corporations report detailed climate-related risks and their carbon footprints. Critics argue that these rules will stigmatize carbon-emitting industries and redirect capital away from fossil fuels, potentially leading to higher energy prices and job losses. Legal challenges are currently questioning the SEC’s authority, and critics warn that aggressive decarbonization could lead to economic stagnation and higher inflation.
The global economy and financial markets are currently facing significant challenges, with numerous negative signals and concerns. Despite this, it is also seen as a prime time for investing, provided risks are managed well. The U.S. federal debt has reached $35.3 trillion, surpassing the annual GDP by $10 trillion, and total U.S. debt, including households, businesses, and local governments, exceeds $100 trillion. This raises questions about a potential sovereign debt crisis or the economy’s ability to handle this trajectory.
Sources
Trump Pledges to Halt “Marxist Crusade” Threatening Suburban America
President Trump vows to save America’s suburbs: ‘The Radical Left wants to abolish the suburbs by forcing apartment complexes and low-income housing into suburbs nationwide. I will end this Marxist crusade.’
Source | Submitted by bcoop
ECB Rate Cuts Reveal Europe’s Economic Illusion: Volkswagen’s Struggles Highlight Deeper Issues
Rate cuts are not stimulus; they are policymakers figuring out what’s really going on.
Source | Submitted by rhollenb
Gold Rush 2023: Could Gold Be the Asset of the Decade?
“UBS analysts are forecasting prices could reach 2600 bucks an ounce by the end of the year.”
Source | Submitted by rhollenb
Global Economy on the Brink: Debt Soars, Investment Opportunities Abound
I’ve never seen it with more bad signals, bigger concerns, and I guess I could go on with other negatives in it. However, it’s never been a better time for investing.
Source | Submitted by rhollenb
Historical Patterns Suggest Migration Could Trigger New Disease Outbreaks
Every migration throughout history brings with it disease.
Source | Submitted by rhollenb
Aurora Police Identify 10 Members of Venezuelan Gang Linked to Apartment Takeovers
“Reports regarding members of the Venezuelan prison gang Tren de Aragua residing in Aurora and carrying out violent crimes against native members of the community and other migrants living in the area have now been thoroughly investigated by the Aurora Police Department.”
Source | Submitted by bcoop
The SEC’s Climate Gamble: Decarbonizing U.S. Financial Markets at What Cost?
The SEC’s climate disclosure rules are part of the federal government’s coordinated climate plan and the latest piece in a sweeping regulatory attack on the oil and gas industry since President Biden took office.
Source | Submitted by AaronMcKeon
Elon Musk Accuses Democrats of “Massive Voter Importation” to Secure One-Party Rule
Massive voter importation to make swing states permanently blue and turn America into a one-party state.
Source | Submitted by bcoop
Australian Doctor Faces License Loss Over Satirical Babylon Bee Posts
In 2018, Dr. Jereth Kok came under investigation by the Medical Board of Australia after two anonymous complaints were filed regarding his social media posts, with the Board searching through a decade of social media content that included gasp five Babylon Bee articles!
Source | Submitted by DocG
Climate Groups Push Banks to Halt Financing for Meat and Dairy Industries
Over 100 climate groups pressure JPMorgan Chase, Citigroup & other banks to cut funding to meat & dairy companies
Source | Submitted by Mysterymet