The Biden administration is trying really hard to convince us that the U.S. economy is doing just fine, but the numbers just keep getting worse and worse. Consumer confidence is plummeting, large corporations are conducting mass layoffs all over the country, and major retailers are really struggling right now.
Meanwhile, some of the smartest guys in the financial world are making moves that would only make sense if the economy was headed for big trouble. Earlier this month, I wrote about how Michael Burry has bet 1.6 billion dollars that the stock market is going to crash. He made a ton of money in 2008 by being on the correct side of the financial crisis, and he plans to make even more money this time around.
This week, speculation has been growing that Warren Buffett also believes that a major downturn is coming. In fact, Business Insider is warning that Warren Buffett “may be bracing for a recession” because he has been selling off stocks at a staggering pace…
Berkshire sold a net $8 billion of stocks and slowed its pace of buybacks last quarter, sparking a 13% rise in its money pile to a near-record $147 billion.
The sprawling conglomerate has now disposed of a net $33 billion of stocks over the past three quarters, fueling a $38 billion increase in its stash of cash, cash equivalents, and Treasury bills during that time.
Buffett’s second-quarter moves “are consistent with the anticipation of a recession and the fact that stocks are currently pricey,” Hanke told Insider.
Burry and Buffett are both extremely sharp, and they clearly understand what the economic numbers are telling them.
At this moment, most U.S. consumers are struggling to make ends meet from month to month and millions of them are absolutely drowning in debt. And the latest consumer confidence figures are downright dismal…
Consumer confidence cratered in August, falling from a downwardly revised 114.0 last month to 106.1. The projection was for a slight increase to 116.
Americans don’t think the economy is doing well currently. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—fell to 144.8 from 153.0.
And they don’t think the economy is going to do well in the near future. The Expectations Index— based on consumers’ short-term outlook for income, business, and labor market conditions—declined to 80.2 in August. That reversed July’s sharp uptick to 88.0.
An Expectations Index below 80 generally signals an impending recession.
So that means that we are almost to the level that “signals an impending recession”.
Of course other numbers suggest that a major downturn has already arrived. When the economy is booming, FedEx and UPS have to schedule more flights because they have so many packages to handle. But at this point the number of package flights is falling precipitously…
The number of package flights operated by FedEx Express and UPS significantly declined month over month in July, underscoring how far the overall air cargo market has sunk since the spring of 2022 and the effect of efficiency initiatives the companies have undertaken in response to lower express volumes.
FedEx (NYSE: FDX) flew 9% fewer domestic flights last month than in June following small sequential gains the prior two months, with year-over-year flight activity down 14%, according to an analysis by investment bank Morgan Stanley. The year-over-year decline in UPS’ flight activity accelerated to 13% from 10% in June. UPS (NYSE: UPS) reduced July flights by 14% from June. Flight activity in May and June, by comparison, was relatively stable.
At the same time, big companies all over America continue to lay off more workers.
Right now, we are seeing a lot of large financial institutions let people go as turmoil in the banking industry continues to spread…
BMO Financial Group, Wells Fargo, and USAA have reported hundreds of layoffs to state officials in recent weeks as the U.S. banking industry continues to downsize.
The job cuts come as banking executives express caution about the industry’s growth prospects in the second half of the year, and as some banks divest certain parts of their businesses.
Sadly, this is just the tip of the iceberg. There will be many more layoffs in the months ahead.
Needless to say, the second half of 2023 will not be a particularly good time for retailers.
In fact, Best Buy is already projecting that sales will fall this year more than originally anticipated…
U.S. shoppers have continued to pull back on tech spending, according to the latest earnings report from Best Buy.
The retailer on Tuesday lowered the high end of its full-year revenue outlook amid declining sales, and now expects to make between $43.8 billion and $44.5 billion in revenue during fiscal year 2024, down from its prior guidance of up to $45.2 billion. Comparable sales from stores, websites and call centers open at least 14 months are expected to dip 4.5% to 6% this year, compared to the previous estimate of 3% to 6%.
And we have just learned that Rite Aid is suddenly on the verge of filing for bankruptcy…
Philadelphia-based Rite Aid’s stock price dipped more than 50% Friday after the reports on the pending bankruptcy filing were published by The Wall Street Journal and Bloomberg, citing people familiar with the matter.The Chapter 11 filing would allow the company to restructure its more than $3 billion debt load and help it address lawsuits alleging the company filled hundreds of thousands of opioid prescriptions unlawfully.
Every day, we hear of even more retailers that have gotten into trouble.
Stores are being shut down all over the nation at a frightening rate, and this is particularly true in many of our core urban areas.
For example, the following is from an article about downtown San Francisco that CNN just posted…
In many ways, San Francisco’s downtown is in dire straits. The city’s Union Square neighborhood — once bustling with shoppers, diners, and tourists — has suffered from declining foot traffic and shuttered storefronts.
Stores in the area now have papered-over windows and “Retail for Lease” signs, according to Google Street View, which was last updated in June.
But downtown San Francisco still seems relatively prosperous compared to downtown Oakland.
One man recently took a camera down there, and he discovered that so many stores have closed that it literally looks like a ghost town right now…
This is what communities all over America are going to look like during the very harsh economic environment that is ahead of us.
We have been warned for a long time that this crisis was coming, and now it is here.
Our leaders just kept making one self-destructive decision after another, and now we are in the early chapters of an economic nightmare.
Michael Burry and Warren Buffett are positioning themselves for what is coming. What about you? I hope that you are ready for the approaching storm, because it is really going to pack quite a punch.
Michael’s new book entitled “End Times” is now available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here. Article cross-posted from The Economic Collapse Blog.
Why Bullion Beats Numismatics and Collectible for Your Safe or IRA
Precious metals continue to attract Americans seeking reliable ways to protect their wealth amid inflation, geopolitical risks, and stock market swings. Whether stored in a home safe or held inside a self-directed IRA, physical gold and silver deliver tangible value that paper or digital assets often lack. Yet investors must choose carefully between bullion—pure bars and coins valued mainly for their metal content—and numismatics or collectibles, where rarity, history, and collector demand heavily influence pricing.
Advisor Bullion serves as a dependable source for straightforward, high-quality bullion. The company specializes in physical gold, silver, platinum, and palladium, emphasizing transparent pricing and products that deliver maximum metal content for every dollar spent. This approach makes it ideal for both personal holdings and retirement accounts.
Bullion consists of refined precious metals in standard forms like one-ounce coins (American Gold Eagles, Silver Eagles, Canadian Maple Leafs) or bars. Their value tracks closely to the current spot price of the metal. A typical gold bullion coin trades near the live gold spot price plus a small premium. This structure keeps costs clear and predictable.
Numismatic coins and collectibles add substantial value from factors such as age, rarity, minting errors, or historical significance. A pre-1933 U.S. gold coin or graded proof piece can carry premiums of 30%, 50%, or even 200% above melt value. While this appeals to hobbyists, it creates complexity. Pricing depends on subjective grading, collector trends, and auction results instead of daily spot prices.
For investors focused on wealth preservation and retirement security rather than building a collection, bullion often delivers better results.
Lower Costs and Better Liquidity for Home Storage
When keeping metals in a home safe or private vault, liquidity and efficiency count. Bullion offers clear benefits:
- You acquire more actual gold or silver per dollar invested. Numismatics divert a large share of your money into rarity premiums and massive sales commission, reducing your metal exposure.
- Selling bullion involves tight bid-ask spreads, so you recover nearly full spot value with minimal fees. Collectibles require finding the right buyer and may sell at a discount if demand for that specific item weakens.
- Bullion prices remain transparent and update with global spot markets. You can track gold near current levels or silver accordingly and know exactly where your holdings stand. Numismatic values are priced by the Gold IRA companies with hefty margins applied.
- Standardized coins and bars store efficiently and divide easily for partial sales. Rare coins often need protective slabs and controlled conditions, adding hassle and expense.
- Bullion enjoys worldwide acceptance. A 1-oz Gold Maple Leaf or Silver Eagle sells quickly to dealers anywhere. Niche numismatic pieces may appeal only to limited buyers, slowing liquidation when speed matters.
In times when quick access to value becomes important, bullion’s simplicity stands out.
Stronger Fit for Precious Metals IRAs
Precious metals IRAs continue gaining traction as investors diversify retirement portfolios beyond stocks and bonds. IRS rules permit certain bullion products in self-directed IRAs if they meet purity standards (.995 fine for gold, .999 for silver) and are held by an approved custodian. Eligible items include American Gold and Silver Eagles plus many generic bars and rounds from recognized mints.
Numismatic and most collectible coins generally face heavy scrutiny from custodians due to valuation disputes and elevated markups. These higher premiums mean less actual metal ends up working inside the account.
Bullion avoids these issues. Its value links directly to verifiable spot prices, which simplifies reporting and lowers the risk of regulatory challenges. More of your IRA contribution purchases real metal instead of dealer profits or speculative upside. Over time, owning additional ounces that appreciate with the metal itself can create meaningful outperformance compared with high-premium alternatives that deliver fewer ounces.
Regulatory guidance from the CFTC and state securities offices repeatedly cautions against aggressive sales of expensive numismatics or “semi-numismatic” coins for IRAs. For retirement planning, transparent bullion from established providers reduces risk and aligns better with long-term goals.
How to Get Started with Bullion
Begin by clarifying your goals. Are you protecting savings in a safe, or moving part of a retirement account into a precious metals IRA? Focus on the number of ounces you can acquire at current prices rather than chasing marked-up collectibles.
Diversify sensibly: use gold for core preservation and silver for its blend of industrial and monetary qualities. Mix coins for easier divisibility with bars for lower per-ounce costs on larger buys. Arrange secure storage—whether at home with proper insurance or through professional facilities.
As economic uncertainties linger and faith in conventional assets erodes, bullion continues proving its worth as a dependable store of value. Its direct approach avoids the hype that sometimes surrounds collectible markets and keeps the focus on the metal itself.
For investors prepared to strengthen their portfolios, Advisor Bullion supplies the expertise and selection needed to acquire high-quality bullion efficiently. Whether building personal holdings or integrating metals into an IRA, their emphasis on transparent, investment-grade products helps secure more ounces today that support greater financial security tomorrow. In a complicated financial landscape, bullion’s clarity and reliability make it the smarter foundation for protecting what matters most.