General
The IRA is under attack thanks to Biden and Democrats’ spending plans
Some Democrats want to dismantle IRAs as we know them The Individual Retirement Account, or IRA, has been one of the great policy successes of the past half-century. Introduced in 1974 as a backstop for workers whose employer-based retirement plans were vaporizing in a terrible economy, IRAs are now held by more than one-fourth of U.S.…
Read MoreChina 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 MoreGoldman Hikes Gold Price Forecast
Key Points: Goldman Sachs on Friday updated its three-, six- and 12-month gold price forecasts to $1800/1900/2000/toz from $1600/1650/1800/toz and maintained its long December 2020 gold trading recommendation. Goldman analysts attributed the recent indecision to a conflict between the negative “wealth” shock to emerging market consumers and a positive “fear-driven” investment demand in developed markets.…
Read MoreEconomic Forecast
Summary The Fed kept rates on hold. The Fed issued their latest economic projections, which are very bearish. The Monetary Report to Congress shows the breadth of the damage done by lockdowns. This week, the Federal Reserve played the adult in the economic room, stating that the US economy was in the middle of a…
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