Oil Blockades, Failed Peace Talks, Hugging Jesus Results in 11-Day Rally Sending S&P 500 and NASDAQ to All-Time Highs

Talk about having a good run!

The NASDAQ composite index has posted gains 11 straight sessions, rising from 20,794.64 on March 30 to Wednesday's close of 24,016.02, a gain of 15.49%. The S&P, not quite as fortunate, but close, posted gains on 10 of the last 11 sessions. From 6,343.72 on March 30 to the April 15 close at 7,022.95 is +10.70%. Both indices finished Wednesday at all-time highs on a closing basis.

In more modest times, those half-month returns might have been considered good for a full year, but, in today's modern algorithm-driven, high frequency trading environment, volatility and outsized gains go hand-in-hand with tweeting presidents threatening to blow up entire civilizations, peace talks that break down after one day, naval blockades 300 nautical miles from the chokepoint, gas prices up 25%, and 3.3% annual inflation being viewed positively because it beat expectations.

It's enough to give old-timers heart attacks right on the trading floor.

If the recent travails of the stock market in terms of geo-politics doesn't make any sense to you, that's probably a good indication that a) you're doing it wrong; b) you failed Cynicism 101; or, c) there are some shifty operators making all the big money while you pay taxes and shuffle along.

Moving on from theatre of the absurd, it is earnings season and a number of important companies posted first quarter results this morning, including:

• Charles Schwab (SCHW) - down 2% pre-market on on weaker-than-expected net interest income.
• Bank of New York Mellon (BK) - flat after posting solid EPS and revenue beats.
• Citizens Financial (CFG) - solid 1Q earnings growth, up 1.5% pre-open.
• Travelers (TRV) - 10% earnings beat, but lower premium writing fro 3 straight quarters, down 1%, outlook shaky.
• Taiwan Semiconductor (TSM) - Beats 1Q targets, guides higher, stock off 2%.
• Pepsico (PEP) - Beats estimates with lower snack prices, higher demand (no, really!), stock is flat.
• Abbott Labs (ABT) - Beats EPS by a penny, outlook mixed, down 5%.

Looking ahead to Thursday's open, stock futures are up modestly. Dow, +125; NASDAQ, +47, S&P 500, +10. Gold and silver are holding steady around $4820 and $79, respectively. WTI crude oil, which is down sharply from highs made earlier this month around $112-115, is advancing slightly, up 0.72 to $92.08.

Good thing America has a president that is routinely hugged by Jesus. Apparently, you CAN make this stuff up.

At the Close, Wednesday, April 15, 2026:
Dow: 48,463.72, -72.27 (-0.15%)
NASDAQ: 24,016.02, +376.93 (+1.59%)
S&P 500: 7,022.95, +55.57 (+0.80%)
NYSE Composite: 22,955.57, -60.81 (-0.26%)

Tax Day: Pay Up or There Will be Consequences; A Few Reasons Why You May Not Want to Pay

In William Shakespeare's epic tragedy, "Julius Caesar," the Roman emperor is advised to "beware the Ides of March," presaging his eventual demise. Were the Bard of Avon alive today, he maight warn U.S. citizens to beware the ides of April, for it is on the 15th day of the fourth month of each year that U.S. taxpayers - individuals and businesses alike - are supposed to settle up with the federal government on their tax obligation for the prior year. Keeping in the spirit of tyranny and organized, legal theft, many U.S. states and a good number of larger municipalities also require filing and remittances on the same day.

While this obligation has only been in effect for the past 113 years, the Revenue Act of 1913, also known as the Underwood Tariff Act, created the first permanent federal income tax in United States history, made possible by the ratification of the sixteenth amendment.

The original law has been expanded, modified, enlarged, coded, exploited, used, and abused ad infinitum over the years by various crooks and scoundrels otherwise known as Senators, Representatives, and Presidents, to a point at which the federal tax code has grown to an unmanageable 6,871 pages, enough to cover the Bible, War and Peace, The Wealth of Nations, more than half of the Harvard Classics and still have room left over for a trashy romance novel or two. If one were to read the tax code at the rate of a page a minute (hardly enough to comprehend very much of it), it would take nearly five days of continuous reading to cover it all.

Most Americans don't find the tax burden in America particularly onerous, though the number of people not fully satisfied with both the level of levies and the wastrel ways of the U.S. government grows every year, especially leaping forward in the days approaching the dreaded deadline of April 15.

Here are just a few reasons that may dissuade people from paying their "fair share":

• In 2024, the average taxpayer paid almost $12,600 in federal and state income and payroll taxes.
• Taxpayers ages 46 to 55 typically owe the highest amount to the IRS, about $18,672.
• The average taxpayer also paid about $3,412 in FICA (payroll) taxes and about $1,920 in state income taxes.
• Roughly 40% of households pay no federal income tax, i.e., zero.
• Among those who paid taxes last year, the average federal bill for 2024 was more than $24,000 for federal and state income taxes and FICA, Investopedia's analysis shows.

Even though the federal government presses individuals and businesses for tax payments, in 2024, about 27% of federal spending was done with borrowed funds, which is actually somewhat on the low side. In 2020, at the depth of the pandemic recession, 48% of all federal spending was borrowed. In 2009 at the depth of the Great Recession, 40% of all federal spending in that year was borrowed.

The federal government has not had a balanced budget - meaning they took in enough from taxes to not have to borrow money - since 2000. The government has been running deficits for 25 consecutive years - a quarter century - and the amount borrowed has been growing steadily this century. Since 1960, the federal government has produced a surplus fewer than five times, and none in the past 25 years.

The total federal debt has grown to over $39 trillion and by this time in 2027, is likely to be more than $43 trillion.

The current debt per citizen is over $113,000. Per taxpayer, it's a whopping $357,000... and growing.

The bulk of government spending is in four distinct tranches:

• Medicare/Medicaid: $1.95 trillion
• Social Security: $1.62 trillion
• Interest on the debt: $1.12 trillion
• Military: $935 billion

Meanwhile, one in eight U.S. citizens receives food stamps or SNAP, about 41 million people in 22 million households. Others receive rent stipends, disability or retirement benefits (SS).

The United States seems to have somewhat perfected the welfare/warfare democracy. Americans are increasingly dependent on the government for sustenance while at the same time the U.S. military wages war around the world. U.S. infrastructure is in serious need of repair or upgrading. The government spends very little on improving and making the country better.

It may, as some suggest, be getting close to the time to replenish the tree of liberty because the current systemic looting and enslavement of the American people seems to be heading in the wrong direction.

Alternatives are few and far between. Suck it up. Pay up, Throw up.

Tax Day quizzes from IdleGuy.com:
Tax Day Part 3
Tax Day Part 2
Tax Day Part 1

At the Close, Tuesday, April 14, 2026:
Dow: 48,535.99, +317.74 (+0.66%)
NASDAQ: 23,639.08, +455.35 (+1.96%)
S&P 500: 6,967.38, +81.14 (+1.18%)
NYSE Composite: 23,016.38, +75.40 (+0.33%)

Blockade Melt-up Morphs Towrd Advanced Gains as Bank Stocks (JPM), (C), (WFC) Report and Emperor Trump Tries on New Clothes

Should Americans should prepare for $5, $6, and even $7 gas prices in the near future because the newly-initiated Trump blockade will be effective only in restricting the flow of oil, natural gas, and other elements critical to the global economy?

That probably wouldn't be a bad idea. As Money Daily has recently been advocating, preparing for the worst while hoping for the best constitutes a rational strategy because the pattern of uneven policy by the Trump administration runs from one extreme to the other. One day it's complete annihilation, the next, seeking compromise, and so forth.

President Trump's narcissistic behavior is beginning to become rather obvious to anybody willing to look. At the bottom of his desire to bring peace through strength to the world with the U.S. at the top of the pecking order is his unfailing commitment to himself and what will be his lasting legacy. Trump needs to win, needs to stay on top, needs America to be the "hottest" country in the world, whether or not reality complies with his wishes, so he will, has, and will continue to drive home the message that only he can save Aemerica and the world, that only he can make the best deals and that he is the messiah on a mission from God.

It would be comical if it wasn't so outrageously close to the truth. The world is being brought to its knees at the behest of some truly deranged, irresponsible, and grossly incompetent individuals inconveniently occupying positions of power in some of the world's great powers. If it's not Trump in America, it's Netanyahu in Israel, Macron in France, Starmer in England, Merz in Germany, von der Layen at the EU, or Rutte at NATO.

By all appearances, leaders of the West have shown the kind of approach reminiscent of the narrative from Thomas Pynchon's "Gravity's Rainbow", suggesting that something has gone awry in the wiring, and that Western politicians have "flipped, when they should have flopped." While this metaphor doesn't go on to explain the causal nuance, the effect is coming to be seen as immediate and gathering momentum, a sublimation of Western values and economies, tying together the bankruptcies of both EU and American philosophy, society, and politics, while at the same time making leaders of Russia, China, and Iran appear positively brilliant in their regard for the future of humanity.

Literary references and political expediency aside, President Trump, in his role as leader of the free world, despite the West becoming more stridently fascist and totalitarian with each passing event, continues to fill the void with his personality, which is noticeably waning and lacking the former luster of his prior campaign and first term, from 2015 through 2019. The Trump of 2026 is an aging Lear-like, Dorian Gray shattered mirror image of his former self. Where the Trump of the previous decade made deals that benefitted his base and the larger constituencies, the Trump of today is bewitched by collapsing narratives, striking out with threats of obliterating whole societies and mass casualty events because the world fails to conform to his imaginary, outdated construct of reality.

As his second term of office has commenced to near-collapse, the trend has been nothing if not obvious. From the "liberation day" tariff shock through "Operation Midnight Hammer" to the ongoing "Epic Fury", Trump's approach has been trending from obnoxious sensationalism to inflamed revenge and retribution towards his unrelenting opponents. Since nobody will heed his warnings and he's uncommitted to carryng out his threats, he's adrift in a tormented place with no exit that would leave his “unerring, all powerful" legacy intact.

Thus, with midterms on the radar and the intractable Iranians unwilling to accept his "surrender" terms, he is likely to gravitate toward more extreme storytelling, devising a fresh set of conditions that will appear to end the conflict on his terms, which is where the "TACO" designation begins to manifest. By throwing colleagues under the bus, particularly his Vice President and Secretary of War, Trump can safely claim to being misled by advisors, whip up some new conditions, and extricate himself from the miasma. It's not likely to be easy nor easily understood, and probably won't be anywhere near the true events, but it will be enough to slip by and rebuild his image in front of November's midterm elections, which, at this point, take precedence over just about everything else.

This may or may not evolve in exactly this manner, but all he indicators point in that direction, so, watch for stocks to continue advancing as the blockade withers away, or, as Scott Ritter recently opined, "parts like the Red Sea." Nothing will come of it. Ships will pass through Hormuz, oil will flow, but not without some dire consequences. Shortages have emerged in Asia and in England and elsewhere and they will continue to become more prevalent as the disruption spills over into varying degrees of chaos.

Tuesday morning opens with earnings from JP Morgan (JPM), as usual, positive, owing to the craftiness of their trading desks which made bank through the chaos. It's easy for the JPM elite. They have enough working capital to move any market whichever way they please.

Also reporting before the bell were Wells Fargo (WFC, down 3.5% pre-market) Citi (C, up 1-2%), BlackRock (BLK, up 2%), and Johnson & Johnson (JNJ, down 1%).

Stock futures are rising before the open. Gold ($4786) and silver ($77.92) are catching fire. Trends established Monday appear to be gathering momentum. All-time highs are just a few oil tankers safely transiting away.

At the Close, Monday, April 13, 2026:
Dow: 48,218.25, +301.68 (+0.63%)
NASDAQ: 23,183.74, +280.84 (+1.23%)
S&P 500: 6,886.24, +69.35 (+1.02%)
NYSE Composite: 22,940.98, +206.47 (+0.91%)

WEEKEND WRAP: Fact and Fiction Not Discernible, U.S. Moves to Blockade Oil Out of Persian Gulf After Negotiations Fail; U.S 1Q Earnings Begin

It's becoming increasingly difficult to separate fact from fiction these days, which is precisely what the elite globalists of the world would prefer: keep the plebes and muppets in the dark with false narratives while profiting from intimate knowledge of the truth.

Case in point is the 39-day conflict in the Middle East. By almost any quantitative measure, the U.S. and Israel got their asses kicked by the forthright Iranians. The U.S. had two aircraft carriers damaged to a point at which they were forced to leave the region, anywhere from 13 to 19 of 22 bases in the area were damaged beyond repair, almost all of the U.S. and Israel air defense systems were destroyed, Israel suffered daily devastating missile strikes, and the arsenal of stand-off missiles and ordnance have been largely depleted.

Iran suffered losses to some of their missile arsenal which is housed underground, their naval flett, which was irrelevant in this conflict was nearly 100% destroyed, ad Israel bombed schools and hospitals, as is their usual war crime motif. Iran ended up controlling the Strait of Hormuz, limiting oil tanker traffic to only those they allowed through, while paying up to $2 million per transit.

The U.S. narrative, coming directly from the mouths or "tweets and truths" from President Trump, the War Department, and Fox News, wants the American public to believe they "won" the war and that Iran "begged" for a ceasefire and negotiations, all of which is patently false. The U.S. had been seeking negotiations with Iran from the very first week and finally got them to commit to a ceasefire on very shaky terms. The two sides tried negotiating in Islamabad, Pakistan, over the weekend, ending in a stalemate, the main sticking point being Iran's roughly 1000 pounds of 60% enriched uranium.

In two lengthy posts on his social media site, truthsocial.com, President Trump laid out the latest U.S. plans after negotiations failed.

Iran promised to open the Strait of Hormuz, and they knowingly failed to do so. This caused anxiety, dislocation, and pain to many people and Countries throughout the World. They say they put mines in the water, even though all of their Navy, and most of their “mine droppers,” have been completely blown up. They may have done so, but what ship owner would want to take the chance? There is great dishonor and permanent harm to the reputation of Iran, and what’s left of their “Leaders,” but we are beyond all of that. As they promised, they better begin the process of getting this INTERNATIONAL WATERWAY OPEN AND FAST! Every Law in the book is being violated by them. I have been fully debriefed by Vice President JD Vance, Special Envoy Steve Witkoff, and Jared Kushner, on the meeting that took place in Islamabad through the kind and very competent leadership of Field Marshal Asim Munir, and Prime Minister Shehbaz Sharif, of Pakistan. They are very extraordinary men, and continuously thank me for saving 30 to 50 million lives in what would have been a horrendous War with India. I always appreciate hearing that — The amount of Humanity spoken of is incomprehensible.

The meeting with Iran began early in the morning, and lasted throughout the night — Close to 20 hours. I could go into great detail, and talk about much that has been gotten but, there is only one thing that matters — IRAN IS UNWILLING TO GIVE UP ITS NUCLEAR AMBITIONS! In many ways, the points that were agreed to are better than us continuing our Military Operations to conclusion, but all of those points don’t matter compared to allowing Nuclear Power to be in the hands of such volatile, difficult, unpredictable people. My three Representatives, as all of this time went by, became, not surprisingly, very friendly and respectful of Iran’s Representatives, Mohammad-Bagher Ghalibaf, Abbas Araghchi, and Ali Bagheri, but that doesn’t matter because they were very unyielding as to the single most important issue and, as I have always said, right from the beginning, and many years ago, IRAN WILL NEVER HAVE A NUCLEAR WEAPON! Donald J. Trump

So, there you have it, the meeting went well, most points were agreed to, but the only point that really mattered, NUCLEAR, was not. Effective immediately, the United States Navy, the Finest in the World, will begin the process of BLOCKADING any and all Ships trying to enter, or leave, the Strait of Hormuz. At some point, we will reach an “ALL BEING ALLOWED TO GO IN, ALL BEING ALLOWED TO GO OUT” basis, but Iran has not allowed that to happen by merely saying, “There may be a mine out there somewhere,” that nobody knows about but them. THIS IS WORLD EXTORTION, and Leaders of Countries, especially the United States of America, will never be extorted. I have also instructed our Navy to seek and interdict every vessel in International Waters that has paid a toll to Iran. No one who pays an illegal toll will have safe passage on the high seas. We will also begin destroying the mines the Iranians laid in the Straits. Any Iranian who fires at us, or at peaceful vessels, will be BLOWN TO HELL! Iran knows, better than anyone, how to END this situation which has already devastated their Country. Their Navy is gone, their Air Force is gone, their Anti Aircraft and Radar are useless, Khomeini, and most of their “Leaders,” are dead, all because of their Nuclear ambition. The Blockade will begin shortly. Other Countries will be involved with this Blockade. Iran will not be allowed to profit off this Illegal Act of EXTORTION. They want money and, more importantly, they want Nuclear. Additionally and, at an appropriate moment, we are fully “LOCKED AND LOADED,” and our Military will finish up the little that is left of Iran! President DONALD J. TRUMP

How the U.S. plans to carry out this "blockade" is going to be tricky, and most likely will devolve into blatant U.S. piracy in international waters because U.S. naval forces dare not come within 500 miles of Iranian shores since they will be blown away by Iran's offensive missile system. The U.S. will have to interdict whatever ships they deem to have paid a "toll" to Iran in international waters 1000 miles from the strait of Hormuz. Either that, or use fighter jets to attack oil tankers leaving the strait.

This is simply more bluster from a defeated empire and will almost certainly result in more death, destruction, and ultimately, dead U.S. servicemen and women. The U.S. death toll in the conflict - according to government sources - is 13 or 15, a blatant distortion. Unofficial sources say the U.S. has lost somewhere in the neighborhood of 1200-2000 troops, either killed or seriously disabled. This action also will make the price of oil worldwide ratchet even higher, and will probably cause a big drop in U.S. stock markets come Monday. Take note of the timing, all relevant actions or threats made over the weekend, when markets are closed and the president and his henchmen and close allies can profit.

Sick. Disturbing. Offensive. Probably Impeachable.

The coming week will also see the first trickling out of first quarter corporate reports, starting right off with Goldman Sachs on Monday. Following Thursday's GDP report showing growth of 0.5% in the 4th quarter of 2025 and March CPI up 0.9%, with annual inflation running at 3.3%, as reported Friday, the week ahead could go very much sideways in a hurry. Of particular note was Friday's CPI readings being reported as "better than estimates", lapping on a positive glow to an otherwise devastatingly bad report. Whatever happened to the Fed's two percent inflation target?

Gone. Out of view, plebians. Suck it up because short term pain for long term gain. Sure, whatever you say, Liar-in-Chief.

All of this has been contrived to cover up the Epstein Files and glaring deficiencies in the U.S. balance sheet ($39 trillion in debt).

Stocks

Nice gains for Ceasefire Week™:
Dow: +1411.90 (+3.04%)
NASDAQ: +1023.71 (+4.68%)
S&P 500: +234.20 (+3.56%)
NYSE Composite: +540.64 (+2.44%)
Dow Transports: +1250.53 (+6.55%)

Too bad if anything might happen to those profits, like the president saying, "Any Iranian who fires at us, or at peaceful vessels, will be BLOWN TO HELL!" Oops.

Earnings season kicks off in style Monday morning with Goldman Sachs, the veritable "vampire squid" (h/t, Matt Taibi).

Monday: (before open) Goldman Sachs (GS), Fastenal (FAST), Sify (SIFY); (after close) FirstBank (FBK)

Tuesday: (before open) JP Morgan Chase (JPM), Wells Fargo (WFC) Citi (C), BlackRock (BLK), Johnson & Johnson (JNJ), Carmax (KMX), Albertson's ((ACI); (after close) Equity Bancshares, Inc. (EQBK)

Wednesday: (before open) Bank of America (BAC), Morgan Stanley (MS), Progressive Insurance (PGR), PNC (PNC), First Horizon (FHN), ASML (ASML); (after close) JB Hunt (JBHT), Terra Innovation (NKLR)

Thursday: (before open) Charles Schwab (SCHW), Bank of New York Mellon (BK), Citizens Financial (CFG), Travelers (TRV), Taiwan Semiconductor (TSM), Pepsico (PEP), Abbott Labs (ABT); (after close) Alcoa (AA), Simmons Bank (SFNC), First National Bank (FNB), Netflix (NFLX)

Friday: (before open) Fifth Third Bank (FITB), Regions Financial (RF), Truist Financial (TFC), State Street (STT), Ally (ALLY), Ericsson (ERIC)

Obviously, financial will be in the spotlight, so keep an eye open for massive fraud, especially in profits from trading.

The week ahead looks to be data-light. The most significant data drops will be Tuesday's monthly retail sales report, business inventories and pending home sales. Wednesday's EIA weekly oil and distillates report should provide more grist for the WTI and Brent trades. The Chicago Fed reports business activity Thursday; also, weekly jobless claims. The University of Michigan's monthly sentiment survey rounds out the week on Friday.

Volatility in all markets is to be expected amid the ongoing craziness.

Treasury Yield Curve Rates

Date	1 Mo	1.5 mo	2 Mo	3 Mo	4 Mo	6 Mo	1 Yr
03/06/2026	3.75	3.74	3.72	3.69	3.67	3.66	3.55
03/13/2026	3.75	3.74	3.71	3.72	3.69	3.70	3.66
03/20/2026	3.73	3.71	3.72	3.74	3.73	3.79	3.80
03/27/2026	3.74	3.73	3.72	3.73	3.72	3.75	3.77
04/03/2026	3.71	3.73	3.73	3.71	3.71	3.73	3.72
04/10/2026	3.67	3.69	3.70	3.69	3.69	3.72	3.70

Date	2 Yr	3 Yr	5 Yr	7 Yr	10 Yr	20 Yr	30 Yr
03/06/2026	3.56	3.59	3.72	3.93	4.15	4.74	4.77
03/13/2026	3.73	3.74	3.87	4.07	4.28	4.89	4.90
03/20/2026	3.88	3.90	4.01	4.20	4.39	4.97	4.96
03/27/2026	3.88	3.94	4.06	4.25	4.44	4.99	4.98
04/03/2026	3.84	3.88	3.99	4.17	4.35	4.91	4.91
04/10/2026	3.81	3.80	3.94	4.12	4.31	4.89	4.91

Very little movement in the treasury complex over the course of the week with investors taking a "wait and see" approach on the Iran ceasefire talks. The stillness will be interrupted - possibly violently - by the sounds of gunfire in the Middle East. Yields could move lower should there be a flight to safety out of stocks.

Spreads remain elevated with full spectrum at +124, matcing the high from two weeks ago.

Spreads:

2s-10s
2026
1/2: +72
1/9: +64
1/16: +65
1/23: +64
1/30: +74
2/6: +72
2/13: +64
2/20: +60
2/27: +59
3/6: +59
3/13: +55
3/20: +51
3/27: +56
4/3: +51
4/10: +50

Full Spectrum (30-days - 30-years)
2026
1/2: +114
1/9: +112
1/16: +108
1/23: +104
1/30: +115
2/6: +113
2/13: +97
2/20: +100
2/27: +90
3/6: +102
3/13: +115
3/20: +123
3/27: +124
4/3:
+120 4/10: +124

Oil/Gas

WTI Crude Oil finished the week in New York at $89.11 on expectations of successful negotiations after closing out on 4/3 at $112.06. Probable starting point for WTI crude futures on Monday will be around $100 and higher through the session and beyond.

Average price for a gallon of unleaded regular gasoline in the U.S. was $4.09 last week and $4.10 this week. Optimism over the U.S.-Iran negotiations kept prices in check, though it appears that will not last. Gas prices are likely to remain above $4.00 for some time in most states, possibly many months as there seems to be no end to the violence in the Middle East.

Prices in key states:

California (leader): $5.88 (-0.03)
Washington: $5.37 (-0.02)
Oklahoma (lowest): $3.41 (+0.18)
Florida: $4.01 (-0.18)
Illinois: $4.38 (+0.10)
Pennsylvania: $4.14 (+0.00)
New York: $4.11 (+0.08)
Maryland: $4.11 (+0.04)
Texas: $3.79 (-0.02)
Georgia: $3.68 (-0.01)

As of Sunday, April 12, there are 18 states with average prices above $4.00, and two above $5 (California, Washington), with 30 below the $4 threshold. The Midwest has supplanted the Southeast as the lowest-priced region, with prices averaging 10-20 cents lower in states like South Dakota, Iowa and Kansas than Tennessee, Georgia and Mississippi.

Bitcoin

This week: $70,755.74
Last week: $66,937.81
2 weeks ago: $68,913.54
6 months ago: $114,934.20
One year ago: $85,434.14
Five years ago: $60,053.62

Bitcoin took a $3,000 hit early Sunday as ceasefire talks in Pakistan ended without clear resolution (otherwise known as "failed.")

Nothing good about anything in the crypto space to report because it's just a trade, not a real market.

Precious Metals

Gold:Silver Ratio: 62.56; last week: 64.05

Futures, per COMEX continuous contracts:

Gold price 3/13: $5,023.10
Gold price 3/20: $4,492.00
Gold price 3/27: $4,521.30
Gold price 4/3: $4,702.70
Gold price 4/10: $4,771.00

Silver price 3/13: $80.64
Silver price 3/20: $67.81
Silver price 3/27: $69.77
Silver price 4/3: $73.17
Silver price 4/10: $76.03

SPOT:
(stockcharts.com)
Gold 3/13: $5,022.11
Gold 3/20: $4,494.00
Gold 3/27: $4,495.05
Gold 4/3: $4,677.28
Gold 4/10: $4,751.68

Silver: 3/13: $80.60
Silver 3/20: $67.79
Silver 3/27: $69.77
Silver 4/3: $73.02
Silver 4/10: $75.95

Both gold and silver produced reasonable gains for the week. Prices seem certain to remain volatile as long as warring parties keep at each other's throats.

Here are the most recent prices for common one ounce gold and silver items sold on eBay (free shipping included, numismatics excluded):

Item/Price	Low	High	Average	Median
1 oz silver coin:	80.79	88.51	84.89	85.00
1 oz silver bar:	81.00	95.96	88.99	88.94
1 oz gold coin:	4,859.20	5,114.78	4,973.76	4,974.79
1 oz gold bar:	4,899.00	4,999.80	4,958.61	4,958.46

The Single Ounce Silver Market Price Benchmark (SOSMPB) took a slight drop over the week, to $86.96, a loss of 78 cents from the April 5 price of $87.74 per troy ounce.

WEEKEND WRAP

Expect everything to suck even more in weeks and months ahead so long as Donald J. Trump remains president and the U.S. government continues to press for World War III. Higher prices for everything, more obvious market manipulation by the most corrupt government in world history and war crimes by the U.S. and Israeli junta are just a few of the manifestations of foreign policy guided by greed, lust for power, social media tweets, and madness.

And don't forget to pay the unconstitutional taxes levied on YOUR INCOME, by Wednesday, or else!

At the Close, Friday, April 10, 2026:
Dow: 47,916.57, -269.23 (-0.56%)
NASDAQ: 22,902.90, +80.48 (+0.35%)
S&P 500: 6,816.89, -7.77 (-0.11%)
NYSE Composite: 22,734.50, -96.21 (-0.42%)

For the Week:
Dow: +1411.90 (+3.04%)
NASDAQ: +1023.71 (+4.68%)
S&P 500: +234.20 (+3.56%)
NYSE Composite: +540.64 (+2.44%)
Dow Transports: +1250.53 (+6.55%)

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US GDP Growth Stalls in 4Q 2025 to +0.5%; March Inflation (CPI), Up Alarmingly by 0.9%; Witkoff and Kushner to Negotiate for U.S. along with VP Vance

Global markets, and, in particular, U.S. equity markets, are often irrational.

Currently, they may be characterized as delusional, shaped and twisted by external events and ongoing conditions that have little if anything to do with fundamental economy, corporate profits or future expectations.

Consider the reaction, or, rather, the lack of response to Thursday's revelation by the BEA that the U.S. economy grew at a loathsome rate of just 0.5% in the fourth quarter of 2025. This was the third estimate of GDP, delayed by the government shutdown in October and November of last year. It's almost like asking, "are you people still talking about that guy (Epstein)?"

It's an iron-clad lock that last fall's government shutdown produced adversity in the nation's overall growth. The BEA, being operated under the auspices of the federal junta, is probably overstating the actual degree of carnage. The initial estimate of 4Q GDP was +1.4%. The second cut that in half, to +0.7%. This last one shaved off another 0.2%. Considering how deeply most government agencies have been politicized and their numbers massaged and weighted and adjusted and reconfigured to include seasonal adjustments, modeling characteristics and policy shifts, one has to assume a variance of at least 20% in measuring the veracity of their issuance.

More on this as we proceed to today's release of March CPI, one of the more damaged, insulting, and contrived calculations the government whips up on a regular basis, as in, monthly.

This one's a doozy:

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.9 percent on a seasonally adjusted basis in March, after rising 0.3 percent in February, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.3 percent before seasonal adjustment.

0.9% is absolutely horrible! Annualized, that's inflation of 10.8%, and, the worst part is that it's almost accurate. A year from now, that $27 rib-eye is going to cost at least $29.92, or, more likely, $32-35% when one adds in the absolute minimum of the 20% discrepancy by which the government routinely misses, and almost always to the wrong side of the equation.

It's easy to see how fourth quarter GDP at the estimated 0.5% is actually 0.4% and possibly even worse, as in a negative number. This latest inflation reading, the almighty CPI, might not be 0.9%, but 1.08% or higher, making REAL, unadjusted, without seasonal factors, annual inflation, closer to the neighborhood of 12.96% (might as well call it 13%).

Now consider the deleterious effects and costs of the glorious conquest of Iran (just kidding, of course). Sure, the conflict only encompassed the last month of the 2026 first quarter, but, were there any actual gains in January and February that are not seasonally adjusted and with inflation wrung out of the equation? Not really, but even if GDP growth (a meaningless nebulous term at best) was 2.5% in January and February, take a -5.0% (being generous) hit in March and you come up with a big, fat, unfriendly ZERO growth for the quarter. Added to the possible negative read from the 4th quarter of 2025, and the U.S. economy is perched at the apex of a recession, one which, all should be reminded, the BEA will not acknowledge until the last Thursday of the third month after the quarter in question, or, June 25, just in time for the great celebration of America's 250th anniversary, which according to President Trump will be the greatest, largest, most boisterous and incredible celebration of the "hottest" country on Earth, ever, and that includes even the 500th celebration and 1000th year extravaganza which will probably be overseen by one of his distant heirs.

Whatever way one likes bread toasted, the American public has been burned by this president and the government he oversees, which is rather normal, as presidents have a unique, tiresome knack of screwing over the general public, though Trump seems to have a particular flair for it which is not very endearing. Not to leave the U.S. congress blameless, they're also complicit in the absolute destruction of the republic. As a whole, they constitute nothing less than a vast conspiracy, contrived to enrich themselves and their contributors and backers at the expense of some 330 million citizens. Nice work if you can get it. No wonder they fight so slavishly for re-election.

Bear in mind that all of this comes at a time in which the U.S. is still heavily engaged in the Middle East military escapade begun at the behest of America's partner in war criminality, Israel. Sure, the Strait of Hormuz is going to be re-opened, but on Iran's terms, which undeniably will be worse for the U.S. than before hostilities began. Well done, vigilant heroes of the military industrial complex (MIC).

It's been reported that VP J.D. Vance will lead the negotiating team slated to begin talks Saturday in Islamabad, Pakistan, but one has to question the wisdom of sending Jared Kushner and Steve Witkoff as well. Those two are insidious liars and have been rather assuredly sniffed out by Iran as untrustworthy and disingenuous. Are we about to witness another back-stabbing by Americans? And this is before even taking into account the evil intentions of Bibi Netanyahu.

All this and stocks were up sharply on Thursday and futures are flat this Friday morning.

Any profanity one may utter at this time is perfectly acceptable and probably not even close to the level of outrage that should be expressed at this unique moment in history.

At the Close, Thursday, April 9, 2026:
Dow: 48,185.80, +275.88 (+0.58%)
NASDAQ: 22,822.42, +187.42 (+0.83%)
S&P 500: 6,824.66, +41.85 (+0.62%)
NYSE Composite: 22,830.72, +32.67 (+0.14%)