“How dumb is dumb?” asks our first contributor today. “People are becoming lemmings.
“Pretty soon the working class will disappear, and then we will have a ‘Mad Max’ America.
“The silent majority better become the vocal majority.”
Regarding the HEALS Act, a reader says: “Shouldn’t that be the HEELS Act… as in passed by a bunch of heels?
“If it does pass, I’ll spend my ‘stimulus’ check the same way I spent my last one, paying my self-employment and estimated quarterly taxes.”
Along those same lines, a reader makes up a new acronym: “Most of what Congress passes these days is more like HEELS — Help Eliminate Everyone’s Liberty and Self-reliance Act.”
We’ll have more on stimulus spending and the silent majority Friday.
Send your opinions to, TheRundownFeedback@SevenFigurePublishing.com.
Your Rundown for Wednesday, Aug. 5, 2020
All I Want For Christmas…
Gold winged past the history-making $2,000 threshold Tuesday, closing at $2,022.66 per ounce.
“The price of gold has increased by more than 30% this year as coronavirus cases continue to rise in America,” BBC says, “causing dozens of states to halt or reverse their plans to reopen.
“Some investors see the fallout from the Covid-19 crisis, along with ongoing tensions between the US and China, continuing to push up the price of gold.”
One of the most significant reasons to hold gold? Fear of inflation. “According to Bank of America, governments around the world have already announced approximately $20tn worth of stimulus to combat the economic impact of the pandemic.”
Yeah, that’ll do it.
Of course, the U.S. money printer’s warming up as the White House and Congress haggle over the details of a second round of stimulus — due Friday.
And did we mention investors sniffing out yield? Market analyst Margaret Yang says: “The mid-to-long-term prospect of gold and other precious metals remains bullish against the backdrop of [a] low interest rate environment….”
Other precious metals — namely silver, platinum and palladium — should also get a lift as analyst Peter McGuire anticipates gold “$2,200 by Christmas.”
Market Rundown for Wednesday, Aug. 5, 2020
S&P 500 futures are up 20 points to 3,320.
Oil’s up 4.15% to $43.43 for a barrel of WTI.
Gold continues to surge — up $38.30 to $2,059.30 per ounce.
Bitcoin is up $222.50 to $11,430.29.
Send your comments and questions to, TheRundownFeedback@SevenFigurePublishing.com.
We’ll have more to say Friday. Have a great day.
For the Rundown,