Stocks get slammed on bad economic news, Gold remains buoyant

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 23 sec. here
  • 5 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 72%

Gold News

Realestatestocks,Economicindicator,Commodities

As the national debt soars to yet another new milestone, gold prices are ascending toward a new record of their own.

The official debt held by the public has just ticked past the $35 trillion mark. Of course, with all the billions and trillions being spent by the government on various projects using money it doesn’t have – and the tens of trillions more in unfunded entitlement commitments – it can be difficult to keep track of just how much spending is taking place. Joe Biden: There's a situation where there's an estimation of somewhere between 700 billion and a trillion, 300 million, billion dollars.

Were he to return to the White House, he’d also likely try to talk interest rates down to reduce the government’s servicing costs. But the President of the United States cannot simply order an increase in GDP – let alone one massive enough to reduce the relative debt burden. Nor can he simply refinance the $35 trillion debt at a lower rate. Trump can publicly berate the Federal Reserve chairman for keeping interest rates too high.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in BUSİNESS

Business Business Latest News, Business Business Headlines