This Week's Touchpoint
Weekly Touchpoint: GE Dividend Cut to a Penny
Posted By | December 12, 2018
Financial Giants Consider Precious Metals to Overcome Market Correction
Wall Street’s rocky ride is getting a little hairier – as expected, considering we’ve seen the longest bull run ever. The Dow Jones Industrial Average closed last week after having officially lost all of its gains for the year. Gold, for its part, spent the last couple of weeks demonstrating why investors look to it during economic woes. Gold prices climbed 2.5% from November 28 to December 7. As conditions continue to worsen, gold’s recent strength is a timely reminder that precious metals can provide investors with a productive place to go in the face of a market correction.
- One place investors cannot go for relief is General Electric stock, once prized for substantial and rock-solid-reliable dividends. GE has been on the ropes for years due not only to misguided management decisions but also an unforgiving economy. Now, in a stunning turn of events, the board of directors has decided to cut GE’s once-robust dividend payout to just a penny a share. CNBC.com has all the details.
- If the economy is so strong, how come tax revenue is declining and federal government expenditures are rising? That’s normally how things go in recessions, but not in supposedly healthy economies characterized by rising household wealth, as is the case right now. So what’s going on? For some insight, check out this great data-driven piece over at Economica.
- Publicly, neither central banks nor Wall Street usually share that they have much love for gold, but privately it’s a different matter. For example, not only are central banks, the overseers of fiat currency, stockpiling gold at a phenomenal rate, but now we’ve learned investment banking giant Goldman Sachs appears to be going “all in” on the yellow metal. What happened to “riding out” market corrections and economic upheaval? Who exactly is that advice directed to? To learn more about what Goldman is doing, check out this article at the popular alt-financial blog Jesse’s Café Americain.
- Simon Black, in an article over at Sovereign Man, sums up very inelegantly but accurately what might be the best reason for buying gold: the “I don’t knows.” Black details the array of uncertainties plaguing investors right now, including the constantly changing outlooks in both trade and Federal Reserve policy. Investors don’t know what to do with all the flip-flopping going on. As a possible answer to the “I don’t knows,” he brings up precious metals. He notes that through all of the recent weeks’ hyperactivity “gold has held its ground,” and adds: “That is exactly how you want insurance to act.”
Stocks are moving down, gold is moving up, and Wall Street is now buying the yellow metal. What else do you need to know? If you have an IRA, 401(k) or another savings/investment account in need of protection, it might be worth noting what the “big boys” are doing as “insurance” to overcome market corrections and economic drops. You could consider pursuing physical gold or silver ownership to help protect your account(s) before the market gets yet hairier. To learn more, call Augusta Precious Metals today at 855-242-4121 or visit Augustapreciousmetals.com.
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