News
Musk warns of Twitter bankruptcy as more senior executives quit
Twitter's new owner Elon Musk on Thursday raised the possibility of the social media platform going bankrupt, capping a chaotic day that included a warning from a U.S. regulator and departures of senior executives viewed as future leaders. The billionaire told Twitter employees on a call that that he could not rule out bankruptcy, Bloomberg News reported, two weeks after buying it for $44 billion - a deal that credit experts say has left Twitter's finances in a precarious position.
Is the Gold Price at a Turning Point?
Gold is in a transition phase. In the past nine months two key developments—war and inflation—have made gold trade much stronger than how it was priced from 2006 through 2021. Both developments are likely to stick around in the coming years and will prove a tailwind for gold. Moreover, the current monetary environment is adding support to the gold market as governments and central banks risk insolvency. For the medium- and long-term I’m therefore optimistic on gold. In the short-term gold still has downside risk due to rising interest rates and the possibility of collapsing asset markets triggering a liquidation event.
Inflation Cools to Lowest Level Since January
Following another big rate hike by the Fed last week, inflation showed signs of cooling in October, as prices rose 0.4 percent compared to September and 7.7 percent compared to October 2021. While that's still higher than anything seen in the past 40 years, it is the lowest reading since January, when prices had climbed 7.5 percent year-over-year. A deceleration in food prices as well as decreases in prices for used cars, apparel and medical services helped keep inflation below expectations, despite a rebound in energy prices after three months of declines.
Unconventional Wisdom
One of the best aspects of getting the midterm elections behind us is that we no longer have to hear an endless firehose of drivel coming out of television, radio, and print media. It’s not merely that the main pundit narratives were wrong, but rather the entire framework for discussing elections has been deeply misguided for many election cycles.
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