The data – as in actual, hard data, not vibes, or sentiment, or feelings, or expectations, also known as soft data – on the US economy in the last two weeks have pushed back on growing recession concerns sparked by weaker sentiment.
Last Monday retail sales were better than we expected as the control group rose by 1.0% m/m. This was followed by the latest industrial production (IP) which soared past expectations due to a surge in manufacturing—particularly autos and durables ex autos. Yesterday we were struck by far stronger than expected US PMI data. Yet all of this hard data has been in stark contrast to increasingly weak soft data, with today’s collapse in the Conference Board’s consumer confidence, where expectations plunged to a 12 year low, being the latest example.
Echoing what we say all the time about the Bank of America Fund Manager Survey, namely to ignore the schizophrenic responses offered by the respondents and just focusing on what they actually do, Bank of America economist Stephen Juneau has the same advice when it comes to this seemingly irrational divergence: Pay attention to what they do, not what they say.
According to Juneau, the strength of these hard data reinforce his view that actions speaker louder than words when it comes to activity. There is little doubt that uncertainty has risen, and it has affected both business and particularly consumer sentiment. The preliminary March University of Michigan consumer survey suggests consumers are increasingly worried about a stagflation outcome. However, there is little sign that these worries are translating into slower activity yet.
The three Cs: claims, capex and card spending: On one hand, consumers and businesses are right to be more concerned about the outlook than a couple of months ago as inflation has proven stickier than expected (incidentally a byproducts of the previous administration). But according to Bank of America, “the signal between survey-measures and real activity has deteriorated too much in recent years to be seen as reliable.” […]
— Read More: www.zerohedge.com
At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.
