Economy
China Passes U.S as Wealthiest Nation in the World
According to a new report from McKinsey & Co, global wealth has skyrocketed over the last twenty years — soaring from $156 trillion in the year 2000 to $514 trillion in 2020. “We are now wealthier than we have ever been,” said Jan Mischke, a partner at the McKinsey Global Institute in Zurich. While the United…
Read MoreThis year is lining up exactly like the 2000 dot-com bubble crash — stocks will drop 40% from here, former Goldman manager says
This year is shaping up exactly like the 2000 dot-com bubble crash and stocks will drop a further 40%, a former Goldman Sachs manager has warned. April produced the best monthly gains for the Dow Jones Industrial Average DJIA, -1.58% and S&P 500 SPX, -1.04% in 82 years — after the worst first quarter in history — and May has so…
Read MoreThe stock market may get cut in half, but this ‘most undervalued’ asset is about to surge, billionaire investor says
Paul Singer, the hedge-fund billionaire behind Elliott Management, warned last month that the ultimate path of global stock markets is a drop of at least 50% from February highs. What’s an investor to do in the face of such a grim outlook? Load up on gold, perhaps. After all, according to a report this week from the Financial…
Read MoreGold-buying app sees 718% spike in volume as coronavirus volatility drives investors to havens
‘Sales are going through the roof,’ says CEO of gold app Glint CEO Jason Cozens is the founder of Glint Pay Services. Supplied by the Glint Gold-buying apps, which allow customers to buy and use the precious metal for everyday spending, are seeing record volumes as investors flock to the safe-haven commodity amid violent market…
Read MoreThe Dollar’s Losses May Just Be Getting Started
(Bloomberg) — The dollar had an awful December and things may only get worse. The currency is set to extend losses as a truce in the U.S.-China trade war and signs that global growth is improving sap demand for haven assets, according to ABN Amro Bank NV. At the same time, the Federal Reserve has taken a…
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