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Thursday, December 12, 2024

FINANCE

U.S. Treasury Sec. Says ’Sorry’ for Ruining Economy

(Dmytro “Henry” Aleksandrov, Headline USA) U.S. Treasury Secretary Janet Yellen, appointed by Joe Biden, recently apologized for ruining the American economy. Fox News reported that Yellen apologized during the Wall Street Journal's CEO Council Summit after Greg Ip, the Journal's chief economic commentator, said that Biden and Yellen are leaving...

Biden Kicks of Fiscal 2025 With Biggest Deficit Ever

(Mike Maharrey, Money Metals News Service) Through the first two months of fiscal 2025, the Biden administration managed to run a $624.21 billion budget. It's the biggest shortfall to start a year on record. The November deficit came in at $366.76 billion, according to the Monthly Treasury Report. That was 16.8 percent...

November CPI Came In “As Expected” Showing Inflation Is Sticky

(Mike Maharrey, Money Metals News Service) It seems the best we can hope for on the inflation front is a CPI report “in line with forecasts.” The mainstream media was giddy, and the markets responded positively to the November CPI report because every metric came in as expected. But the report...

Why Gold Still Reigns Supreme in the Age of Bitcoin

(Money Metals News Service) In the latest episode of the Money Metals Midweek Memo, host Mike Maharrey explored the rocky relationship between Bitcoin, gold, and their roles in today’s financial world. Sharing personal stories, market trends, and insights, Maharrey broke down the similarities and differences between these two assets. He also...

3 Ways to Buy Gold Without Breaking the Bank

(Joshua D Glawson, Money Metals News Service) When people first learn about investing in precious metals, especially gold, a common response is how much it costs to buy an ounce of gold in the form of a gold coin, gold bullion round, or gold bar. Indeed, the price of gold...

Sound Money: Legislative Wins, Challenges, and the Future

(Money Metals News Service) In a recent interview with Charlotte McLeod of Investing News Network, Jp Cortez, Executive Director of the Sound Money Defense League, shared insights into the organization’s progress, challenges, and goals. Celebrating its 10th anniversary, the Sound Money Defense League, owned and funded by Money Metals Exchange, has...

Everyday Economics: Could a Fed Rate Cut in December Be the Last of This Cycle?

(Orphe Divounguy, The Center Square) The U.S. labor market continues to show signs of a persistent slowdown. At the same time, inflation data is mixed, with core inflation exceeding expectations while headline inflation continued to moderate. Accelerating producer prices suggest that inflation may be more stubborn than previously anticipated. This scenario...

Gas Prices Declining, May Rise after Fall of Syrian Government

(Casey Harper, The Center Square) An ongoing war in Syria has suddenly ended with the overturning of the longstanding Syrian government, creating national-security and humanitarian concerns but also threatening global oil markets. “Russian oil and gas companies have operated in Syria for years adding to the world’s supply,” Daniel Turner,...

Small Business Optimism Spikes after Election

(Casey Harper, The Center Square) Small business owners' optimism saw a significant spike after President Donald Trump won the White House and Republicans took both chambers of Congress, according to the latest survey data. The National Federation of Independent Businesses released the data Monday, which showed that small business owners...

REPORT: Average American Household Has More than $10,000 in Credit-Card Debt

(Carleen Johnson, The Center Square) The average American household credit card balance as of the third quarter of 2024 was about $10,757 after adjusting for inflation, according to a new study. The personal-finance website WalletHub onFriday released its new Credit Card Debt Study, which found that consumers added $21 billion in...

OpenAI Releases AI Video Generator Sora but Limits How It Depicts People

(Headline USA) OpenAI has publicly released its new artificial intelligence video generator Sora but the company won't let most users depict people as it monitors for patterns of misuse. Users of a premium version of OpenAI's flagship product ChatGPT can now use Sora to instantly create AI-generated videos based on...

Gold And Silver Take Off On Surprise Rally

(Brien Lundin, Money Metals News Service) “Don’t look a gift horse in the mouth.” That was my first thought on seeing gold up about $45...and silver jumping 4%...this morning while other markets weren’t confirming the moves. The Dollar Index was down, but not much. Treasury yields were actually higher. And...
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