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Tuesday, November 26, 2024

FINANCE

I Thought Gold Was a Safe Haven! Why Did It Tank With Stocks?

(Mike Maharrey, Money Metals News Service) And in the blink of an eye, the expectation of a “soft” landing turned into worries about a crash landing! It was a bloody Monday in the stock market as analysts digested the dreary jobs report released Friday and suddenly discovered the rot in...

The Rot in the Commercial Real Estate Market in One Story

(Mike Maharrey, Money Metals News Service) I've been watching the commercial real estate (CRE) sector as a potential catalyst for the next financial crisis. So far, it has managed to hold together, but there is still trouble brewing under the surface. The story of one commercial real estate investment by...

Judge: Google Exploiting Search-Engine Monopoly to Squash Competition

(Headline USA) A judge on Monday ruled that Google's ubiquitous search engine has been illegally exploiting its dominance to squash competition and stifle innovation in a seismic decision that could shake up the internet and hobble one of the world's best-known companies. The highly anticipated decision issued by U.S. District...

Top Biden Economic Advisor Leaves White House amid Stock-Market Plummet

(Casey Harper, The Center Square) President Joe Biden released a statement Monday morning thanking Gene Sperling, a top economic advisor, as he left his position the same morning that fears of a U.S. recession sent the U.S. stock market tumbling. As of Monday morning, the Dow had dropped 900 points...

Stocks Start Crashing: Will the Fed Pivot or Panic?

(Stefan Gleason, Money Metals News Service) It's no longer a question of whether the Federal Reserve will cut interest rates. It's a question of how soon central bankers will cut and how big they will go. Last week's ugly economic reports on manufacturing and employment helped trigger a mini-meltdown in...

Central Bank Gold Buying Through First Half of 2024 Sets Record

(Mike Maharrey, Money Metals News Service) Despite central bank gold buying slowing moderately in the second quarter, it set a record through the first half of 2024. Central banks globally added a net 483 tons of gold through the first six months of the year,  5 percent above the record...

Ky. Gov. Plans to Collect Sales Tax on Gold and Silver, Despite New Law

(Mike Maharrey, Money Metals News Service) Kentucky Governor Andy Beshear has decided he's going to continue collecting sales tax on the sale of gold and silver despite a new law repealing the levy and an attorney general opinion calling his line-item veto of the provision unconstitutional. Only five other states...

BLACK MONDAY: Dow Drops 900 Pts; Japan Faces Worst Crash Since 1987

(Headline USA) Nearly everything on Wall Street is tumbling Monday as fear about a slowing U.S. economy worsens and sets off another sell-off for financial markets worldwide. The S&P 500 was down by 3.1% in morning trading, coming off its worst week in more than three months. The Dow Jones...

Intel Plans to Cut 15K Jobs, Despite Taking Nearly $20B in Biden Bucks

(Headline USA) Chipmaker Intel says it is cutting 15% of its huge workforce—about 15,000 jobs—as it tries to turn its business around to compete with more successful rivals like Nvidia and AMD. In a memo to staff, Intel Corp. CEO Pat Gelsinger said Thursday the company plans to save $10...

Money Metals Podcast: Michael Pento’s Insights on Economic Outlook and Investment Strategies

(Money Metals News Service) In a recent episode of the Money Metals podcast, host Mike Maharrey sat down with Michael Pento, the president and founder of Pento Portfolio Strategies (PPS), to discuss the current state of the economy, the precious metals market, and effective investment strategies. Pento, who boasts over...

Stocks Get Slammed on Bad Economic News, Gold Remains Buoyant

(Mike Gleason, Money Metals News Service) As the national debt soars to yet another new milestone, gold prices are ascending toward a new record of their own. The official debt held by the public has just ticked past the $35 trillion mark. Of course, with all the billions and trillions...

When Will the Fed “Normalize” Interest Rates? This Is Normal!

(Mike Maharrey, Money Metals News Service) A drug addict constantly needs more drug to get the same effect. The U.S. economy is addicted to easy money, and it needs more and more of this drug to maintain the high. The problem with this scenario is eventually the addict overdoses. This Is...
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