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Devlyn Steele

U.S. Inflation Numbers Skyrocket for June, Leaving Americans Wondering When Relief Is on the Way (Guest: Devlyn Steele)

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Following the rise of U.S. inflation to 8.6 percent in May, there now is confirmation that prices climbed even higher in June. The data indicates that inflation for last month reached a staggering 9.1 percent year over year. That’s the highest it’s been in more than 40 years. The principal drivers of the most recent increase are the rising costs of fuel, housing and food. The Consumer Price Index (CPI) for the month showed an increase of … Read more

$77 Billion in Improperly Paid Payments From Unemployment Insurance Leaves Some Heavy Cause For Concern (Guest: Devlyn Steele)

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In this day and age of inflation, it’s frustrating when a huge amount of money goes to waste. This is particularly true with unemployment insurance, as a recent report from the Department of Labor suggests that a large amount of payments were made improperly. Per a recent report from The Epoch Times, the report from the DOL’s Inspector General suggests that more than $77 billion of employment insurance payments last year were made improperly – out … Read more

With the Fed Rate Hike, Things Could Look Bad For the Economy – Possibly Leading Into a Recession In 2023 (Guest: Devlyn Steele)

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With its meeting this week, the Federal Reserve raised its interest rates by as high as .75 percent – three quarters of a percentage point – in an effort to fight back against inflation. But the question is, what kind of effect will it really have? Joel Griffith, an economic expert for the Heritage Foundation, explained to The Center Squad, “The Federal Reserve’s complicity in financing Congress’ outrageous spending spree of the past two years … Read more

Why Do Americans Keep Spending Money In the Face of Growing Inflation? (Guest: Devlyn Steele)

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Inflation has reached its highest point in 40 years, with gas and housing prices reaching an all-time high – with no signs of slowing down. That said, a new report suggests that Americans are continuing to spend money. According to the New York Times, consumer spending has risen 0.9 percent for the month of April. Surprisingly enough, auto sales have risen as well, following months of shortage on the market. The article notes that part … Read more

Davos’ World Economic Forum Paints a Bleak Picture for the Economy: “The Worst Since the Second World War” (Guest: Devlyn Steele)

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The World Economic Forum is underway in Davos, for the first time since COVID-19 put it on hold back in 2020. Many leaders to discuss many issues surrounding money problems, and, as expected, the United States came up. Facing the highest inflation that it’s seen in forty years, the U.S. could be facing even direr straits as it heads into 2023. Kristalina Georgieva, who serves as managing director for the International Monetary Fund, noted that … Read more

What Could Be the Long-Term Effects From a Pending Recession? (Guest: Devlyn Steele)

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Over the past couple of months, American citizens (as well as others across the globe) have been feeling the effects of growing inflation. From rising gas prices to heavily priced items being imported from other markets, it’s left some people feeling like they’re in a crunch. And there are many indications this could lead to the first significant recession since 2008. Some experts believe that a forthcoming recession is inevitable, and could start as soon … Read more

U.S. Inflation Numbers For April Show a Slight Sign of Hope, but Don’t Expect Immediate Drops (Guest: Devlyn Steele)

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A new report today from the Consumer Price Index (CPI) revealed a slight drop from the catastrophic numbers provided the month prior – but that doesn’t mean the effects from inflation are set to wear off anytime soon. The report showed a slight drop from 8.5 percent in March to 8.3 percent for April, though prices continued to rise by 0.3 percent for the month, according to the report. That said, while some analysts suspect … Read more

Why Did the Dow Drop More Than 1000 Points Thursday? (Guest: Devlyn Steele)

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The Dow dropped 1063 points on Thursday (May 5, 2022) for the worst trading day of the year, putting it in the 10 biggest single-day declines of all time. What exactly is going on with stocks, including the eCommerce and tech stocks sectors. What’s more, aren’t stocks supposed to be a hedge against inflation? Here to help us gain perspective on the economy is Devlyn Steele, education director for Augusta Precious Metals.  1. Welcome, Devlyn. … Read more

Overseas Inflation Leads To Questions About Other Potential Investments

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U.S. inflation hit a staggering 8.5 percent this past month, and isn’t showing any signs of slowing down despite recent action by the Federal government. But what’s happening overseas could be of bigger interest to international investors. A recent report at Bloomberg notes that traders are already expecting an increase in inflation due to the ongoing Ukraine-Russia conflict. In fact, some believe the increase will actually become higher than in the United States, with 3.02 percent … Read more

What Is Significant About the Fed 50-Point Hike?

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The financial world was waiting with bated breath for the Federal Reserve to make the announcement wherein they revealed they are making a 50 basis point hike. What exactly does that mean? Joining us in this discussion is Devlyn Steele, education director for Augusta Precious Metals.  Q&A: 1. There seems to be a lot of “noise” surrounding the news that the Federal Reserve has raised interest rates by 50 basis points. Why is this such … Read more

Why Did the Stock Market Drop Nearly 1000 Points Last Friday? (Guest: Devlyn Steele)

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The Dow dropped 981 points last Friday (April 22, 2022) for the fourth straight week and the worst trading day since 2020. The Wall Street Journal chalked up the drop to worries about slowing corporate earnings and the FederalReserve’splans to rapidly raise interest rates. Verizon shares plunged 5.6% after its management reported losing 36,000 subscribers during the first quarter of 2022.  What exactly is going on with stocks that are typically considered bluechips. Aren’t stocks … Read more

Netflix Just Had Its Biggest Drop In Nearly 20 Years, and It Sends Out a Worrying Call To Investors (Devlyn Steele)

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Though Netflix is usually known for producing high-end streaming entertainment, its business trends as of late leave something to be desired. The company’s stock price recently dropped a staggering 35 percent, the biggest drop that the service has seen since the early days of its establishment in 2004. This comes after the news that the company had lost 200,000 subscribers following the end of the first quarter of 2022. Apparently, however, that’s just the tip … Read more

This Analyst Says Interest Rates Are Too Low! (Guest: Devlyn Steele)

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There is one headline that we will soon see possibly eclipsing the Ukraine/Russia news, and that topic is inflation and rising interest rates. As you might know, most people are concerned about interest rates rising, including rates on home loans, cars, and luxuries—oh, scratch luxuries like gas—too expensive! But according to our next guest, interest rates are not even close to where they should be in order to cram the inflation genie back in the bottle. We welcome … Read more

Data Suggests Inflation Pressures Are Sending Recessionary Signals Guest: Devlyn Steele

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Inflation is now at 7.9% – a 40-year high, according to government figures. Clearly the categories of gas, food, and housing, it’s considerably higher.  The Federal Reserve is attempting to fight that inflation by raising interest rates. But those higher rates could prove expensive in the long run for the economy since past data shows rate-tightening cycles often culminate in recession. But are the burdens of current inflation so great that higher prices alone could … Read more

Inflation’s latest target: Gold Guest: Devlyn Steele

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Are we about to see record-high gold prices?   Intro: Inflation is one of the most significant issues facing Americans today. Every day it seems we hear a new stable going up in price—food, housing, gas, and now gold. The highest gold has reached was $2,051.50 an ounce in August of 2020.   Rising gold costs impact everything from jewelry to gold coins to electronic components. This week gold briefly passed the $2000 market, so … Read more

Will Russian Oil Boycott lead to Stagflation? Guest: Devlyn Steele

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  Intro: In response to the recent U.S. boycott of Russian oil, French Finance Minister Bruno Le Maire told an energy conference it is imperative that the economic fallout from the Ukraine war must not lead to 1970s-style Stagflation—a combination of high inflation and low growth.   We haven’t seen Stagflation in 40 years, so is it possible for Stagflation to raise its ugly head again? For that matter, what exactly is Stagflation, and should we … Read more

Biden Ban of Russian Oil Imports Guest: Devlyn Steele

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Could send gas prices to $300 per barrel or over $10 a gallon   Intro: The Biden administration is reportedly cutting off purchases of Russian oil. The Drudge Report says that might push the oil prices to an all-time high of $300 a barrel, or about double the prior record high of $145 a barrel in 2008.   Our guest is Devlyn Steele, a financial analyst, and spokesman with Augusta Precious Metals. He joins us … Read more

Inflation is triggering food, gas, housing, and now gold Guest: Devlyn Steele

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Intro: Inflation is one of the most significant issues facing Americans today. Every day it seems we hear a new stable going up in price—food, housing, gas, and now gold. The highest gold has reached in the US dollar history was $2,051.50 in August of 2020. Rising gold costs impact everything from jewelry to gold coins to electronic components. This week gold briefly passed the $2000 market, so the question on many minds now is: … Read more

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