Tesla CEO Elon Musk doubled down on his warnings about U.S. debt, predicting financial doom will be guaranteed without the transformative effects of AI and robotics on the economy. In a lengthy, wide-ranging interview with podcaster Dwarkesh Patel alongside Stripe cofounder and president John Collison on Thursday, the tech billionaire was asked why he pushed for aggressive spending cuts while leading the Department of Government Efficiency if technology will supercharge GDP growth and ease the debt burden. ...

In other words, the government may never technically run out of dollars — but those dollars can lose value fast. Musk has warned in the past that if current trends continue, “the dollar’s going to be worth nothing.”“There won't be a default — the central bank will come in and we'll print the money and buy it,” he said. “And that's where there's the depreciation of money.”Musk isn’t the only one sounding the alarm over America’s debt and the soaring interest costs tied to it. Ray Dalio, founder of the world’ ...

Inflation fears and pessimism about personal finances and the economy persist in the minds of many Americans. According to a recent survey by payroll processing firm ADP, 64% of American workers reported being under financial strain. Despite everyone’s money concerns, now is the best time to start investing. Putting your money in the market is better than trying to time the market or stashing it in a stuffy savings account. If you want to make 2026 the year you start to take control of your personal finan ...

Trump-Xi detente continues, Fed's Lisa Cook says inflation progress has stalled, Bitcoin falls below $70,000, and more news to start your day. ...

Core Insights - The price of silver experienced a historic drop of over 30% due to a strengthening US dollar and investor reactions to President Trump's Federal Reserve pick [1][4] - Commodities analyst Jeffrey Christian anticipates that the decline in silver prices could persist, with a worst-case scenario predicting prices could fall to $68 an ounce, representing an additional 17% drop [2][3] Market Indicators - CPM Group is monitoring several indicators that may signal further declines in the silver market, including diminishing investor interest, increasing inventories, and shifts in trading momentum in silver, bonds, and silver-related ETFs [3][5] - Despite the recent plunge, there is a possibility that silver prices could remain high or even increase through 2026, according to Christian [3] Investor Sentiment - Concerns about inflation and the robustness of the US dollar are pushing investors towards silver as a safe haven, although further price declines could lead to a large-scale exit from the market [2][4] - The recent drop in silver prices raises significant concerns about its future as a safe haven investment [4]

On Thursday, President Donald Trump said he will announce his pick for the U.S. Federal Reserve chair to replace incumbent Jerome Powell after the latter's term ends in May. While nothing is confirmed yet, reports suggest the Trump administration is preparing to nominate Kevin Warsh, who served on the Federal Reserve Board of Governors from 2006 to 2011. Warsh has occasionally praised cryptocurrencies. Yet bitcoin (BTC) plunged late Thursday to near $81,000 lows as his odds spiked on betting sites, with ...

Fundstrat co-founder Tom Lee said gold’s explosive 2025 rally is pulling investor attention away from Bitcoin and Ethereum. The comment landed as gold pushed above $2,800 per ounce while Bitcoin and Ethereum chopped sideways after months of ETF hype. Zoom out, and this fits a familiar pattern: when fear rises, money parks in assets that feel boring but safe. For everyday investors, this explains why crypto prices feel stuck even with big-name firms offering ETFs. Capital has not vanished. It has moved. D ...

Core Viewpoint - A bitcoin evangelist believes that tracking ribeye steak prices provides a more accurate measure of inflation than the consumer price index [1] Group 1 - The bitcoin advocate argues that traditional inflation metrics do not reflect the real cost of living for consumers [1] - Ribeye steak prices are highlighted as a significant indicator of inflation due to their popularity and price volatility [1] - The focus on specific food items like ribeye steak aims to provide a clearer picture of economic conditions affecting consumers [1]

Core Insights - Deposit account rates are declining, but competitive returns on certificates of deposit (CDs) can still be locked in, with the best CDs offering rates above 4% [1] Group 1: Current CD Rates - The best short-term CDs (six to 12 months) currently offer rates around 4% to 4.5% APY, with the highest rate at 4.1% APY from LendingClub and Sallie Mae Bank [2] - CDs generally provide higher rates than traditional savings accounts, making them an attractive option for savers [2] Group 2: Historical Context - CD rates were relatively high in the early 2000s but began to decline due to economic slowdowns and Federal Reserve rate cuts, with average one-year CDs at around 1% APY by 2009 [3] - The trend of falling CD rates continued into the 2010s, with average rates dropping to about 0.1% APY for 6-month CDs by 2013 [4] - A slight recovery in CD rates occurred between 2015 and 2018 as the Fed gradually increased rates, but the COVID-19 pandemic led to emergency rate cuts, causing new record lows [5] Group 3: Recent Developments - Following the pandemic, inflation prompted the Fed to hike rates 11 times between March 2022 and July 2023, resulting in higher APYs on savings products, including CDs [6] - As of September 2024, the Fed began cutting the federal funds rate, leading to a gradual decrease in CD rates from their peak, although they remain high by historical standards [7] Group 4: Understanding CD Rates - Traditionally, longer-term CDs offer higher interest rates, but current trends show the highest average CD rate is for a 12-month term, indicating a flattening or inversion of the yield curve [8] - Factors to consider when choosing a CD include goals for locking away funds, type of financial institution, account terms, and inflation [9]

Core Insights - A spike in diesel oil prices could lead to increased delivery costs for goods and materials, potentially resulting in higher inflation [1] Industry Impact - Rising diesel prices may affect logistics and transportation sectors, increasing operational costs and impacting profit margins for companies reliant on these services [1] - Higher delivery costs could lead to increased prices for consumers, influencing overall market demand and spending behavior [1]