“If carried out, DoD’s and DOE’s plans to operate, sustain, and modernize current nuclear forces and purchase new forces would cost a total of $946 billion over the 2025–2034 period, or an average of about $95 billion a year, CBO estimates,” the report says.
The spending includes $357 billion on operating nuclear weapons and delivery systems, $460 billion on modernization projects, and $130 billion in expected cost overruns. The CBO report notes that Pentagon plans often cost significantly more than projected.
The forecast in this year’s CBO report is $93 billion higher than the estimate produced last year.
“Weapons programs frequently cost more than originally budgeted amounts for a variety of reasons.” It continues, “If nuclear force programs exceeded planned amounts at roughly the same rates that costs for similar programs have grown in the past, they would cost an additional $129 billion over the next decade, $33 billion more over 10 years than CBO estimated in 2023.”
Washington is in the process of a major nuclear weapons upgrade. The US is developing a new bomber, an intercontinental ballistic missile, and a submarine capable of firing nuclear weapons.
The US nuclear buildup comes as Washington has walked away from several major arms control agreements with Russia since the end of the Cold War. Under George W. Bush, the US withdrew from the Anti-Ballistic Missile (ABM) Treaty and the Intermediate-Range Nuclear Forces (INF) Treaty. President Donald Trump pulled the US out of the INF and the Open Skies agreements during his first term.
During his second term, Trump has denounced nuclear weapons and suggested he could engage in talks with Russia and China on an agreement to reduce the global stockpile of nuclear arms.
However, Trump made similar remarks during his first term, but never seriously engaged in arms control talks with Beijing or Moscow. The only remaining nuclear arms agreement between the US and Russia, the New START Treaty, is scheduled to lapse next year.
This article originally appeared at The Libertarian Institute.
In December 2021, the James Webb Space Telescope (JWST) was launched. Over the last several years, the telescope has produced stunning images that are helping scientists to better understand the universe.
Scientists began developing plans for the $10 billion replacement for the Hubble Telescope in 1996. When it was launched, researchers said they hoped the device would unlock many “mysteries of the universe,” and claimed the telescope would allow us to “look back in time to see the very first galaxies that formed in the early Universe.”
Over the last few years, the telescope has facilitated some steps in that direction.
For instance, JWST has observed galaxies that appear to have formed just 300–400 million years after the Big Bang, much earlier and more massive than expected. This suggests galaxy formation may have occurred faster and more efficiently than current models predict.
JWST has also identified water vapor, clouds, and haze in the atmospheres of several planets outside of our solar system, and CO2 in the atmosphere of exoplanet WASP-39b. This could pave the way for identifying potential biosignatures in the future.
The power of the James Webb Space Telescope dwarfs that of its predecessor and offers unprecedented resolution and sensitivity. The telescope’s ability to “see” deep into the infrared spectrum allows it to image the distant universe as far back as the first galaxies and even the first stars.
Gold helps make this amazing imaging possible.
Each of the telescope’s 18 gold-coated, hexagonal mirrors has a diameter of just over 4 feet. Stitched together in a honeycomb pattern, the mirrors have a total diameter of 6.5 meters (21.5 feet). The mirrors are made of beryllium and coated with a microscopic layer of pure gold.
Why gold?
Because the yellow metal is one of the very best materials at reflecting infrared light. Scientists used beryllium as the base for the mirrors because the metal exhibits almost no thermal expansion at extremely low temperatures. In other words, the extreme cold in space won’t cause the panels to warp. On the other hand, gold is comparatively temperature sensitive. That’s why a thin layer was put on top of the beryllium base.
Scientists say the JWST has seven times the light-gathering power of the Hubble Space Telescope.
From time to time, you will hear people inexplicably say, “Gold is just a useless metal.” They claim that gold’s value is simply “a matter of faith.”
This is sheer nonsense. In fact, gold is one of the most useful metals on the planet and would probably have even more practical applications if it weren’t so rare and expensive.
The truth is, gold did not become money because it wasn’t useful for anything else. Its role as money evolved because it is so valuable and has so many uses.
As World Gold Council consultant Trevor Keel wrote, “This is probably the most visible example of gold’s utility in space exploration, but there are many other critical applications.”
Gold isn’t just used in space exploration. About 80 tonnes of gold were used in industrial and tech applications in the first quarter of this year.
Photo credit: NASA/Chris Gunn
Mike Maharrey is a journalist and market analyst for Money Metals with over a decade of experience in precious metals. He holds a BS in accounting from the University of Kentucky and a BA in journalism from the University of South Florida.
(Luis Cornelio, Headline USA) Former FBI Director James Comey is under federal investigation after he shared a since-deleted Instagram post that appeared to urge deadly violence against President Donald Trump. Comey’s post comes ess than a year after Trump survived two assassination attempts.
On Thursday, Comey shared a photo of seashells arranged to spell “8647”—with “86” commonly meaning to remove or eliminate someone and “47” referencing Trump’s position in the presidential lineup, the New York Post reported.
“Cool shell formation on my beach walk,” Comey captioned the image.
Several Trump officials and Donald Trump Jr. took to X to decry the post as a death threat against Trump, Comey’s former boss.
White House deputy chief of staff Taylor Budowich called the post “deeply concerning” and warned the government takes the apparent threat “seriously.”
“While President Trump is currently on an international trip to the Middle East, the former FBI Director puts out what can clearly be interpreted as ‘a hit’ on the sitting President of the United States — a message etched in the sand,” Budowich added.
Trump Jr. accused Comey of casually “calling for my dad to be murdered,” blasting: “This is who the Dem-Media worships. Demented!!!!”
Just James Comey causally calling for my dad to be murdered.
DHS Secretary Kristi Noem confirmed that the Secret Service is actively probing the post.
“Disgraced former FBI Director James Comey just called for the assassination of @POTUS Trump,” Noem wrote. “DHS and Secret Service is investigating this threat and will respond appropriately.”
FBI Director Kash Patel said the bureau is coordinating with Secret Service Director Sean M. Curran, who has primary jurisdiction, and “will provide all necessary support.”
We are aware of the recent social media post by former FBI Director James Comey, directed at President Trump. We are in communication with the Secret Service and Director Curran. Primary jurisdiction is with SS on these matters and we, the FBI, will provide all necessary support.
— FBI Director Kash Patel (@FBIDirectorKash) May 15, 2025
Comey later claimed ignorance, saying he didn’t realize the numbers signified a threat against Trump.
“I posted earlier a picture of some shells I saw today on a beach walk, which I assumed were a political message,” Comey said in a statement via Instagram. “I didn’t realize some folks associate those numbers with violence.”
He added, “It never occurred to me but I oppose violence of any kind so I took the post down.”
(Ken Silva, Headline USA) Years before he allegedly went on a mission to assassinate President Donald Trump, Ryan Routh ran a criminal enterprise involving the theft of thousands of dollars’ worth of property from construction sites in the Greensboro, North Carolina area, according to previously unpublicized records reviewed by Headline USA.
The previously unpublicized records come from Greensboro Police Department’s 2010 investigation into Routh, which led to him being convicted for possessing stolen goods. Those convictions have been widely reported, but most of the details about the case haven’t—until now.
According to the records, a confidential informant told police that Routh would steal tools and building materials from the sites where he and his company, United Roofing, were hired to do work. Routh allegedly kept those stolen goods in three 50-foot trailers, as well as a warehouse in the Greensboro area, the records state.
🚨NEW: Previously unpublicized records show that about 15 years ago, alleged would-be Trump assassin Ryan Routh ran a criminal enterprise involving the theft of thousands of dollars' worth of property from construction sites where he worked in the Greensboro, North Carolina area.… pic.twitter.com/BpGxlFZ9Su
Greensboro police were tipped off about Routh—who was already on probation for a felony explosives conviction in 2002—by a confidential informant in January 2010, amidst an investigation into a rash of burglaries involving the theft of flat-screen televisions. Police also received information from someone arrested in the scheme, whose identity was kept confidential.
According to the informant, a man named “Marty” had recently broken into a home under construction. Marty allegedly stole a washer and dryer from there, sold those items to Routh, and then used the proceeds to buy crack-cocaine.
Police arrested Marty—who was later identified as Marshall Hinshaw—and then received another tip from their informant: that Routh was moving the stolen merchandise to a new location because he was worried he would be caught. The informant further told police that Routh was driving a stolen “black/broken dually pickup truck.”
On Jan. 27, 2010, police executed a search warrant on one of Routh’s trailers—seizing items such as “new marble white sinks” that belonged to another company called H Brown Inc., according to police records. A day after that search, the informant said Routh began hurriedly moving other stolen property that was located in his two remaining trailers.
Police searched another one of the trailers on Feb. 4, 2010, finding more stolen items—including more than $1,500 of welding torches owned by the company Hammaker East. The owner of the land where Routh’s trailer was sitting also told police that he asked someone to move the trailer, and that “a male had pulled a knife on him and told him to leave the property.”
After searching the first two trailers, police made contact with Routh and asked him to search the third trailer, which was on land that he owned. Routh denied officers’ request to search, and so they obtained another search warrant on Feb. 4, 2010—finding yet more stolen goods.
Additionally, the search warrant indicated that accomplices may have been involved in Routh’s scheme. A man named Cornelius Chisholm was initially listed as a co-defendant of Routh’s, but the charges against him were later dropped. Headline USA was unable to find many additional details about Chisholm, other than the fact that he, too, has a lengthy criminal record.
Routh was arrested, and convicted of three felony counts of possessing stolen goods in July 2010. However, similar to his 2002 weapons conviction, he was given a suspended sentence of two days in jail plus time served. He was also initially charged upon arrest with possessing a stolen vehicle, but that charge was dropped. Moreover, he was initially charged with violating the terms of his probation from the 2002 conviction—but that charge was later dropped—with records only stating that it was “filed in error.”
Routh went on to commit crimes for over the next decade, including in the days leading up to his alleged attempt on Trump’s life, when he was communicating with a human smuggler and attempting to buy a rocket launcher.
The man who allegedly sold Routh a stolen washer and dryer, Marshall Hinshaw, also continued a life of crime. According to the North Carolina Department of Corrections’ website, he’s serving an eight-year jail sentence for a 2021 felony breaking-and-entering conviction.
🚨REVEALED: The identify of one of alleged would-be Trump assassin Ryan Routh's old accomplices in a scheme to steal goods from construction sites: His name is "Marty" aka Marshall Hinshaw, and a LinkedIn page matching his description says that he was in the US Army for over 20… pic.twitter.com/ZtHS2RmAw7
A LinkedIn page that matches Hinshaw’s profile states that he worked for the U.S. Army from 1992 to 2014—working in “fire support and air defense.” His bio states that he’s “skilled in U.S. Department of Defense, Military Operations, Army, Command, and Military.”
Headline USA wrote a letter to Hinshaw, seeking details about his dealings with Routh—but he’s yet to respond.
Routh’s trial is set for September.
Ken Silva is the editor of Headline USA. Follow him at x.com/jd_cashless.
(José Niño, Headline USA) What began as a routine car burglary spiraled into a deadly encounter, leaving a prominent Infowars employee fatally wounded.
In March 2025, a fatal shooting in Austin, Texas, claimed the life of Jamie White, a 36-year-old reporter for Infowars. The incident occurred late at night outside White’s apartment complex on Douglas Street, near East Oltorf Street and Interstate 35. According to Austin police, White was shot after he confronted suspects who were attempting to break into his car, a green Kia Soul, per a report by ABC News.
Shortly before midnight on March 9, emergency responders arrived at the scene to find White suffering from a gunshot wound to the neck. He was pronounced dead at 12:19 a.m. on March 10, according to Fox 7 Austin.
Investigators determined that White had interrupted a group of four individuals in the act of burglarizing his vehicle. During the confrontation, one of the suspects shot White before all four fled the scene.
🚨BREAKING NEWS🚨
Austin Police have arrested a 17-year-old in the murder of InfoWars reporter Jamie White.
Eloy Adrian Camarillo is one of four suspects connected to the shooting, according to an arrest warrant.
One of the suspects, identified as 17-year-old Eloy Adrian Camarillo, was arrested by Austin police in late April. Camarillo was charged with capital murder by terror threat/other felony and booked into the Travis County Jail on a $250,000 bond.
Authorities believe Camarillo was a “co-conspirator” in the deadly shooting, and he is one of four individuals implicated in the crime.
The suspects were reportedly targeting Kia-brand vehicles, which have been frequently targeted for theft due to known manufacturing vulnerabilities. On the night of the shooting, the group had already broken into multiple vehicles, including a black and a silver Kia Soul.
Surveillance footage and witness accounts placed a black Kia Soul at the scene just before the shooting occurred. This vehicle, later found abandoned, had been reported stolen from a nearby apartment complex.
Investigators used cellphone tower data to track the suspects’ movements, which ultimately led them to Camarillo. He admitted to police that he and the others broke into White’s car intending to “joyride” it.
When White confronted one of the suspects inside his vehicle, he was shot, and the group fled in the stolen black Kia Soul.
White’s friends and colleagues described him as dedicated, hardworking, and passionate about his job as an Infowars reporter. They emphasized that he was not targeted because of his job at Infowars, but rather became a victim because he happened to interrupt the burglary at the wrong moment.
His family expressed heartbreak and called for justice, noting that White’s car had been burglarized once before in recent months.
The case highlighted ongoing concerns about vehicle thefts in the area, particularly involving Kia models. Police urged car owners to take precautions and encouraged those with eligible vehicles to obtain manufacturer security upgrades.
The investigation remains active as authorities continue to seek the remaining suspects.
Jamie White’s death has drawn attention from both local and national media, with Infowars founder Alex Jones and White’s friends publicly mourning his loss and demanding accountability for those responsible.
Headline USA previously reported that White was allegedly featured on Ukraine’s infamous “enemies list” due to his reporting that critiqued the United States’ proxy war against Russia.
José Niño is the deputy editor of Headline USA. Follow him at x.com/JoseAlNino
(Mike Maharrey, Money Metals News Service) A Singapore-based startup hopes to challenge New York and London’s dominance of the gold market.
Abaxx Exchange recently launched a physical 1-kilo gold contract. It will be denominated in dollars and deliverable in Singapore. It will be the first and only physical gold futures contract in Asia.
Singapore Bullion Market Association head Albert Cheng told the Financial Times that the country has the potential to compete with London.
“But we need the infrastructure to bring in more flows and the physical gold contract can help with that.”
Abaxx Exchange reportedly wants to eventually offer 24/7 trading pending regulatory approval.
The startup company has raised over $100 million from investors, including BlackRock and CBOE Global Markets.
Abaxx Exchange CEO Josh Crumb called the gold market, with London serving as the center for physical trading and New York as the futures hub, “dysfunctional,” telling the Financial Times that infrastructure hasn’t kept pace with how gold is traded.
“Our view is that Asia ex-China needs a gold market, to manage the physical gold, that is not reliant on New York and London,” Crumb told the FT, citing “geopolitical” risks in the U.S. and UK.
He also pointed to the need for a more robust physical gold market in Singapore to meet the needs of commercial gold consumers, including jewelry manufacturers.
“In Singapore, people feel like they are not well served by the existing market. The actual real physical demand is kilo bars going into Asia.”
Last year at the Asia Pacific Precious Metals Conference, World Gold Council head of Asia-Pacific and global head of central banks Shaokai Fan, noted that the “center of gravity” of the gold market has shifted to the East. Gold consumption by emerging market economies is rapidly rising, and the majority is concentrated in Asia. Singapore’s proximity to this growing market sets the city up to become the “fulcrum of this new balance.”
“Singapore is poised to lead the gold market in the future.”
Singapore is also close to 25 percent of the world’s gold mining supply. China, Australia, Indonesia, the Philippines, Papua New Guinea, and Laos are all significant gold producers.
Fan said there is a need for an official gold reserve center in the East, especially with growing concern over geopolitical tensions and the West’s propensity to use economic sanctions as a weapon. This makes some countries wary of storing their gold in New York or London, where it could be frozen or seized if their governments raise the ire of Western leaders. Fan said Singapore could become a “truly viable alternative” to those cities as a hub for gold vaulting.
Singapore has a stable government and a friendly tax environment. Fan said it has also taken several steps that increase its attractiveness as a gold hub, including tax reforms.
“The removal of GST on investment gold in Singapore, the establishment of good delivery refineries here, has bolstered Singapore as a leading hub for gold trading.”
Mike Maharrey is a journalist and market analyst for Money Metals with over a decade of experience in precious metals. He holds a BS in accounting from the University of Kentucky and a BA in journalism from the University of South Florida.
The letter was signed by 177 GOP House members and every Republican in the Senate except for Rand Paul (R-KY). “The Iranian regime should know that the administration has Congressional backing to ensure their ability to enrich uranium is permanently eliminated,” the letter reads.
The Republicans pointed to comments from Trump administration officials demanding Iran eliminate uranium enrichment, though it’s unclear if that’s the demand they’re making in talks with Iran, since negotiations continue to advance.
“You and your administration have therefore correctly drawn a red line against a deal that allows Iran to retain any enrichment capacity,” the letter says.
The vast congressional opposition to a deal that will allow Iran’s enrichment program to stay intact will be noted by Iran since it’s aware that any deal without congressional approval could be easily reversed by a future president, which makes it less likely for Tehran to make concessions.
According to multiple media reports, Iran has suggested the idea of a joint uranium enrichment program with Saudi Arabia and the UAE in recent negotiations. But at this point, it’s unclear if the idea is feasible or if the US would accept it.
President Trump has been threatening to bomb Iran if a deal isn’t reached, meaning if the talks fail, the US and Iran could go to war. The letter was celebrated by the pro-Israel lobby AIPAC since Israel wants the US to participate in an attack on Iran.
“Today, the overwhelming majority of Senate and House Republicans reaffirmed that Iran must dismantle its nuclear program,” AIPAC wrote on X, calling the letter an “important effort.”
Trump has been threatening to attack Iran over its nuclear program even though his intelligence agencies recently reaffirmed that there’s no evidence Tehran is building a bomb or that Ayatollah Ali Khamenei has reversed his ban on the development of nuclear weapons.
(Headline USA) Several hundred immigrants have been charged with unauthorized access to a newly designated militarized zone along the southern U.S. border in New Mexico and western Texas since the Department of Justice introduced the new approach in late April.
President Donald Trump‘s administration has transferred oversight of a strip of land along the U.S.-Mexico border to the military while authorizing U.S. troops to temporarily detain immigrants in the country illegally — though there’s no record of troops exercising that authority as U.S. Customs and Border Protection conducts arrests.
The designated national defense areas are overseen by U.S. Army commands out of Fort Bliss in the El Paso area in Texas and Fort Huachuca in Arizona.
The novel national security charges against immigrants who enter through those militarized zones carry a potential sentence of 18 months in prison on top of a possible six month sentence for illegal entry. The full implications are unclear for migrants who pursue legal status through separate proceedings in federal immigration court.
The Trump administration is seeking to accelerate mass removals of immigrants in the country illegally and third-country deportations, including Venezuelans sent to an El Salvador prison amid accusations of gang affiliation. The administration has deployed thousands of troops to the border, while arrests have plunged to the lowest levels since the mid-1960s.
The federal public defender’s office in Las Cruces indicates that roughly 400 cases had been filed in criminal court there as of Tuesday as it seeks dismissal of the misdemeanor and petty misdemeanor charges for violating security regulations and entering restricted military property.
Court records show that federal prosecutors in Texas — where a National Defense Area extends about 60 miles (97 kilometers) from El Paso to Fort Hancock — last week began filing the military security charges as well.
Las Cruces-based federal Magistrate Judge Gregory Wormuth is asking for input from federal prosecutors and public defense attorneys on the standard of proof for the trespassing charges “given the unprecedented nature of prosecuting such offenses in this factual context.”
Public defenders say there needs to be proof that immigrants knew of the military restrictions and acted “in defiance of that regulation for some nefarious or bad purpose.”
New Mexico-based U.S. Attorney Ryan Ellison, appointed in April, says hundreds of “restricted area” signs have been posted in Spanish and English to warn that entry is prohibited by the Department of Defense, along New Mexico’s nearly 180-mile (290-kilometer) stretch of border.
In a court filings, Ellison has said there’s no danger of ensnaring innocent people when it comes to immigrants who avoid ports of entry to cross the border in willful violation of federal law — and now military regulations.
ACLU attorney Rebecca Sheff said basic freedoms are at risk as the government flexes its power at the border and restricts civilian access.
“The extension of military bases … it’s a serious restriction, it’s a serious impact on families that live in the border area,” she said.
The Department of Justice has warned Wormuth against issuing an advisory opinion on legal standards for trespassing in the military area.
“The New Mexico National Defense Area is a crucial installation necessary to strengthen the authority of servicemembers to help secure our borders and safeguard the country,” Ellison said in a court briefing.
Democratic U.S. Sen. Martin Heinrich of New Mexico expressed concern Wednesday in a letter to Defense Secretary Pete Hegseth that anyone may be stopped and detained by U.S. Army soldiers for entering a 170-square-mile (440-square-kilometer) area along the border previously overseen by the Department of Interior and frequently used for recreation and livestock ranching.
Hegseth has emphasizing a hard-line approach to enforcement.
“Let me be clear: if you cross into the National Defense Area, you will be charged to the FULLEST extent of the law,” he said in a post on the social platform X.
(Mike Maharrey, Money Metals News Service) What is the current inflation situation? If you just go by the CPI, things are looking pretty good.
We got a better-than-expected “inflation” report for the third straight month. Prices rose 2.3 percent on an annual basis in April, the lowest rate since February 2021, according to the latest BLS data. The forecast had been for the annual CPI rate to remain at 2.4 percent.
Month on month, prices rose 0.2 percent. This was coming off a -0.1 percent contraction in prices in March but was in line with expectations.
While the CPI has dipped close to the mythical 2 percent target, core CPI remains elevated.
Stripping out more volatile food and energy prices, core CPI also rose by 0.2 percent month-on-month following a 0.1 percent rise in March. The forecast had been for a 0.3 percent increase in core prices.
Annualized, core CPI remained at 2.8 percent. Last month was the first time core CPI had dropped below 3 percent since March 2021.
As you parse the data, keep in mind that the CPI doesn’t tell the entire story of inflation. The government revised the CPI formula in the 1990s so that it understated the actual rise in prices. Based on the formula used in the 1970s, CPI is closer to double the official numbers. So, if the BLS was using the old formula, we’re looking at CPI closer to 6 percent. And using an honest formula, it would probably be worse than that.
However, this is the formula the government uses, and it drives decision-making.
Falling food prices helped pull overall CPI lower. Food at home dropped -0.4 percent last month. Egg prices plunged by 12.7 percent.
Of course, egg prices aren’t indicative of “inflation.” They reflect policies enacted to combat avian flu.
Gasoline prices also dipped again in April, falling by -0.1 percent. Year on year, gasoline prices are down -11.8 percent, and overall energy prices have dropped by -3.7 percent.
Market reaction to the CPI report was muted. Analysts remain worried that tariffs will begin pushing prices higher.
A Navy Federal Credit Union economist called the CPI report “good news” with a caveat.
“And we need it given inflation shocks from tariffs are on their way. Non-tariffed goods are still in the pipeline, and perhaps some importers have absorbed their tariff costs for now.”
Of course, rising prices due to tariffs also don’t reflect “inflation” either.
They’re Defining Inflation Wrong
The problem the CPI doesn’t measure “inflation.” It measures the rise and falls of the price of a “basket of goods” picked by the Bureau of Labor Statistics. To be technical, the CPI measures “price inflation.”
But there are all kinds of factors that cause prices to go up and down. Supply and demand dynamics, supply chain issues, tariffs, and government policy can all impact prices. As already mentioned, the big dip in egg prices reflects policy changes and an easing of the bird flu outbreak.
However, there is only one thing that causes the general price level to rise – monetary inflation.
There was a time when that’s what people meant when they said inflation. They were talking about an increase in the supply of money and credit. One of the symptoms of monetary inflation is price inflation. Today, economists, commentators, and policy makers conflate price inflation and monetary inflation, calling them both “inflation.” This makes people think that there is no “inflation” if prices aren’t rapidly rising.
Inflation Is on the Upswing
Despite the chatter you hear surrounding the latest CPI report, inflation isn’t cooling. It’s heating up.
And it’s set up to heat up even more.
Even as the Fed holds interest rates steady and continues to shrink its balance sheet (albeit at a much slower pace), we’ve been seeing a rise in inflation (properly defined) for nearly a year.
The M2 money supply bottomed a little over a year ago at $20.60 trillion. Since then, it has crept upward. As of March, it was at $21.76 trillion. That eclipses the all-time high hit in April 2022.
When prices start to reflect this increase in the money supply, the powers that be will blame it on tariffs. When they do, remember the words of economist Milton Friedman.
“[Inflation] is always and everywhere a monetary phenomenon. It’s always and everywhere a result of too much money.”
In another sign that monetary policy isn’t as tight as you might think, the Chicago Fed Financial Conditions Index continues to indicate it is loose from a historical perspective.As of the week ending May 9, the NFCI stood at -0.51. A negative number reflects historically loose financial conditions.
And the markets are desperate for even looser monetary policy.
The good news from their perspective is that the CPI data greenlights further Federal Reserve rate cuts. The bad news is that means even more inflation, given that rate cuts encourage borrowing. This, in turn, boosts the money supply.
The markets aren’t wrong. This debt-riddled bubble economy runs on easy money. It can’t function in a higher interest rate environment – at least not for long.
However, there is still an inflation problem.
I’ve been talking about this conundrum facing the central bank for months, and nothing has changed.
On the other hand, the central bank needs to cut rates because the economy is addicted to easy money. It needs its easy money drug.
Unfortunately for Powell & Company, simultaneously raising and lowering interest rates isn’t a thing.
It’s unclear how this will all play out. One thing is clear, though – monetary inflation isn’t going anywhere, and where there is monetary inflation, price inflation will likely follow.
Mike Maharrey is a journalist and market analyst for Money Metals with over a decade of experience in precious metals. He holds a BS in accounting from the University of Kentucky and a BA in journalism from the University of South Florida.
(Luis Cornelio, Headline USA) Embattled CNN anchor Jake Tapper has enlisted a PR crisis guru amid scathing criticism of his new book, which claims to expose former President Joe Biden’s cognitive decline—despite spending years attacking conservatives for making the same argument.
Tapper and co-author Alex Thompson hired crisis communications expert Risa Heller and her firm Heller Co., to help in their May 20 launch of Original Sin: President Biden’s Decline, Its Cover-up, and His Disastrous Choice to Run Again.
Heller is no stranger to scandal. She represented disgraced figures like former CNN boss Jeff Zucker, who resigned after a secret affair with an employee, and former Rep. Anthony Weiner, infamous for his sexting scandals.
Tapper defended the hire as an apparent bid to make the book’s “rollout as smart as possible.” He also claimed Heller would merely provide “advice.” However, the timing tells a different story.
Tapper’s move comes as he faces backlash for dismissing conservative journalists who spent years reporting on Biden’s cognitive decline when it mattered—not months after he stepped away from public office.
In his new book, Tapper claims Biden once discussed putting him in a wheelchair if he won re-election and that he forgot who George Clooney was at a 2024 fundraiser.
Here’s the kicker: outlets like Headline USA covered these developments last year, with President Donald Trump once predicting that Biden would be thrown on a wheelchair.
In a now-infamous exchange with Lara Trump, Tapper scolded her for questioning Biden’s mental acuity.
“How do you think it makes little kids with stutters feel when they see you make a comment like that?” he asked.
“First and foremost, I had no idea that Joe Biden ever suffered from a stutter,” Lara replied. “I think what we see on stage with Joe Biden, Jake, is very clearly a cognitive decline.”
Running to Biden’s defense, Tapper retorted: “It’s so amazing to me—a ‘cognitive decline.’ I think you were mocking his stutter. Yeah. I think you were mocking his stutter and I think you have absolutely no standing to diagnose somebody’s cognitive decline. I would think somebody in the Trump family would be more sensitive to people who do not have medical licenses diagnosing politicians from afar.”
It’s unclear how the book will sell, given that much of its reporting had already been uncovered by other outlets.
