Saturday, April 19, 2025

FINANCE

Even Californians Don’t Want Property Tax Hikes; Reject Ballot Referendum

(Headline USA) California voters have rejected a proposal to partially dismantle the state’s 42-year-old cap on property taxes, a move that would have have raised taxes for many businesses in a pandemic-hobbled economy. Following Tuesday’s update to the vote count, Proposition 15 had only about 48% support and was trailing by...

Gold Climbs Following Election Results, Then Retreats

Gold prices closed Friday at a 7-week high above $1,950/oz. The monetary metal also appeared to break out of a larger consolidation pattern that formed after all-time highs were hit in August. But with news today of a vaccine breakthrough, gold has fallen back below its breakout point. It is now...

Unemployment Drops to 6.9% and US Adds a Solid 638,000 Jobs

(Headline USA) The U.S. job market showed a burst of strength in October, with employers adding 638,000 jobs and the unemployment rate tumbling to 6.9%. Still, the pace of hiring isn’t enough to rapidly soak up the millions of Americans who were thrown out of work by the pandemic recession. The job...

Get Ready for a Post-Election ‘Fed Wave’ of Inflation

As accusations of voting irregularities mount, President Donald Trump’s legal team is descending on Pennsylvania and Georgia as well as multiple battleground states that have been called by media outlets for Joe Biden. It will be an uphill battle for Trump to get to 270 electoral votes. As of this writing...

US Businesses Board Up Storefronts in Anticipation of Post-Election Riots

(Headline USA) Judging by the plywood, it’s shaping up to be an Election Day like no other. In downtown Washington, the sounds of hammers and power tools echoed through the streets Monday as workers boarded up dozens of businesses. In New York City, businesses from Macy’s flagship store in Herald Square to...

MORE GOOD NEWS: US Manufacturing Activity at Highest Levels in Two Years

(Headline USA) U.S. manufacturing posted a strong gain in October to the highest level in two years. The Institute for Supply Management, an association of purchasing managers, said Monday that its manufacturing index rose by 3.9 percentage-points to a reading of 59.3% last month, up from 55.4% in September. It was the...

The Moment of Truth Approaches

(Clint Siegner, Money Metals News Service) Tomorrow is election day. Virtually nothing else matters in the markets right now, and probably won’t until the results are in. This year’s major complication is that while we may have early indications, it could easily take days or weeks to establish the victor. If Donald Trump...

200-Year Old Remington Factory in Ilion, New York Declares Bankruptcy

(Associated Press) Workers at the sprawling Remington factory in this upstate New York village took pride in a local gunmaking tradition stretching back to the days of flintlock rifles. Now they're looking ahead with uncertainty. Jacquie Sweeney and her husband were among almost 600 workers fired by the company this week,...

Email Marketing Company Mailchimp to Censor Content at Its ‘Sole Discretion’

The email marketing firm Mailchimp announced adopted a policy, effective last Wednesday, that gives the company "sole discretion" to censor information. Other online platforms, such as Google, Twitter and Facebook, have been less straightforward in their decisions to censor so-called "disinformation"---otherwise known as facts that contradict the prevailing narrative in...

When ‘Fiats Fail,’ Precious Metals Prevail

(David Morgan, Money Metals News Service) There are two theories of money. The first is that it should have intrinsic value, something people can hold, knowing that it has value in and of itself. The second is that it is lawful; that usually a government or King, mandates that their creation...

Walmart Removes Guns, Ammo on Display Due to Riots & Looting

(Headline USA) Walmart says it has removed ammunition and firearms from displays at its U.S. stores, citing “civil unrest" in some areas. The nation's largest retailer, based in Bentonville, Arkansas, sells firearms in about half of its 4,700 stores. “We have seen some isolated civil unrest and as we have done on...

V-SHAPED: US Economy Grew at Blistering 33% Rate in Q3

(Headline USA) The U.S. economy grew at a sizzling 33.1% annual rate in the July-September quarter — by far the largest quarterly gain on record — rebounding from an epic plunge in the spring, when the eruption of the coronavirus closed businesses and threw tens of millions out of work. The...
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