Economy
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Newsom Strengthens Chinese Relations as Scrutiny Grows over Walz’ China Ties
(Kenneth Schrupp, The Center Square) California Gov. Gavin Newsom declared “California Panda Day” to highlight Sino-Californian cooperation as scrutiny grows over Minnesota governor and now Democratic vice-presidential candidate Tim Walz’s close relationship with China. “Building on our strong foundation of partnership and deep cultural and economic ties, I traveled to China last year to advance…
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Trillion-Dollar Coins: A Dumb Idea That Some Gov’t People Take Seriously
(Mike Maharrey, Money Metals News Service) When I was about 7 years old, my friend Tommy and I decided we were going to dig a cave. We envisioned a massive cavern we could stand up in. It would be our secret fort. We went as far as digging a pretty deep hole in Tommy’s backyard. …
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Another Recession Signal: Credit Card Spending Is Slowing Significantly
(Mike Maharrey, Money Metals News Service) America runs on debt. And American consumers may be getting close to their credit card limits, yet another signal the U.S. economy could be teetering on the brink of a recession. (If it’s not there already.) According to the latest data released by the Federal Reserve, revolving credit cratered in…
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Another ‘Squad’ Member Defeated as County Prosecutor Clinches Win in Missouri’s Democratic Primary
() A second member of “The Squad,” the radical band of non-white progressives in the U.S. House, was defeated in a primary on Tuesday. County prosecutor Wesley Bell defeated incumbent Cori Bush in the Democratic primary for Missouri’s 1st District. Bell, who dropped out of the Democratic primary for the U.S. Senate seat held by Republican…
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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 economy’s foundation. They fretted…
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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 Industrial Average was down 956…
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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 of 460 tons in H1…
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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 the stock market – one…
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Shoplifting Rose 24% This Year, No End in Sight
(Casey Harper, The Center Square) – Shoplifting has soared in the U.S. in 2024, forcing many stores to leave cities and continuing a trend in recent years. Shoplifting has risen 24% in the first half of 2024 alone, according to newly released data from the Council on Criminal Justice. The White House cited the CCJ’s…
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Oil Giant Chevron Relocating Headquarters from California to Texas
(Kenneth Schrupp, The Center Square) – Energy giant Chevron announced it is relocating its headquarters from San Ramon in California to Houston, Texas. Chevron said it has approximately 2,000 employees in California and will be relocating all corporate staff not supporting its continuing California operations to Houston in the next five years. While Chevron did…
