Young Americans are getting hit hard by the interest rate tightening cycle. Coupled with the impending implosion of Social Security and the $33 trillion in debt their parents and grandparents racked up, the future looks hard for Millennials and Gen-Zers. In The Robin Report, Warren Shoulberg explains that despite the troubles faced by younger generations, Baby Boomers are still consuming. He writes: The boomers, we all know, generally never met something they didn’t think they needed to buy. All those idealistic values that guided them earlier in their lives — the creation of Earth Day, … [Read more...]
Archives for November 2023
Israel and Hamas Conflict Spilling into World’s Oceans
Costas Paris of The Wall Street Journal tells his readers that an Iran-backed group took Galaxy Leader’s 25 crew members hostage in the Red Sea over the weekend. He writes: Iran-backed Yemeni rebels said they hijacked an Israeli-linked cargo ship with 25 crew members in the Red Sea over the weekend, heightening tensions in the Gaza conflict. The Houthis, a rebel group that controls Yemen’s north, said on X, formerly Twitter, that they are taking the vessel to the Yemeni coast and would continue to target vessels linked to Israel because of its attacks on Gaza. Middle East brokers … [Read more...]
What Do Plunging Metal Prices Say About Electric Vehicles?
Scott Patterson of The Wall Street Journal is reporting that mining projects are being delayed after a plunge in battery-metal prices. He writes: America’s transition to electric vehicles is running into an unexpected snarl. A surprising crash in prices for lithium, cobalt and other metals used in EV batteries is hitting mining companies, which are suspending or delaying new projects and expansions. The disruptions are threatening to deepen shortages of those materials in coming years and hit the brakes on the Biden administration’s timeline for weaning the country off gas-powered … [Read more...]
Retirement Income: We All Want It, We All…
Retirement income. We all want it. We all need it. How do we get it? Well, dear reader, you’ve come to the right place. Let’s start with bonds. My feeling about them is once you get to age 50 or so, if you don’t already have them, then you need to get some. Your Survival Guy rounded that corner not too long ago, and I have had bonds for years. But I’m probably one of the more conservative investors you’ll come across. I don’t “play” interest rates. I don’t try to predict where they’ll be. I look at what the markets are paying today, and I decide if I like the value proposition. A big part … [Read more...]
Coal Giant Shifting Focus to Green Metals
Julie Steinberg of The Wall Street Journal tells her readers that a coal giant has set in motion a plan to quit coal, leaving it to focus on green metals. She writes: Glencore Chief Executive Gary Nagle made his name running the commodity giant’s sprawling coal operations. Now he’s leading an effort to get the company out of coal altogether. Glencore this past Tuesday agreed to a multibillion-dollar deal that will eventually rid it of its coal mines, a move that represents the company’s biggest strategic shift in years. That leaves it to focus on bolstering its position as a major … [Read more...]
Subsidies Fuel Global Auto Trade – How Long Will the Boom Last?
Jason Douglas of The Wall Street Journal tells his readers how strong car sales contrast with weakness in other exports. He writes: Auto exports from Europe and Asia are surging as the U.S. and other countries lavish subsidies on electric vehicles and dealers replenish inventories that even now aren’t back to prepandemic levels. The boom in autos contrasts with broader weakness in exports as the global economy slows. The trend offers a glimpse of how the West’s embrace of industrial policies aimed at stimulating domestic manufacturing and reducing the use of fossil fuels is causing … [Read more...]
“Survival Guy Prepare Yourself and Your Clients Accordingly”
Ahhh, Mr. Market. He goes up, he goes down, but in the long run, so they say, he always goes up. Maybe. But not necessarily on your schedule. The long run might not be in time for your short-term needs. Mr. Market might not show up on your schedule. Stocks can stay down for a long time. Which brings me to your retirement life. When it comes to you, I don’t want you hoping you’ll get your portfolio to a certain level. Hoping something will happen to you is no way to live. Instead, I want you to control everything you can control. Your savings, your earnings, your money. In other … [Read more...]
Truckers Choosing Hydrogen Fuel Over Batteries
Paul Berger writes that some operators say hydrogen fuel allows trucks to drive farther and faster, but the technology is far behind the development of battery-cell electric vehicles. He continues: Jim Gillis is making a big bet on hydrogen-powered big rigs. Gillis, president of the Pacific region for Collierville, Tenn.-based IMC, will take delivery in the coming weeks of his first hydrogen electric fuel-cell Nikola trucks long before the technology is proven and a refueling network is set up. “I am always worried about first-generation technology,” said Gillis, who expects to be … [Read more...]
U.S. Sanctions Shipowners for Moving Russian Oil
Eric Wieser of MarketWatch writes that the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has sanctioned three more shipowners for moving Russian oil above the agreed price cap. He continues: The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) on Thursday leveled sanctions against three entities and their associated vessels for transporting Russian oil sold above the agreed upon price cap set by an international coalition of countries after the Russian invasion of Ukraine. The OFAC press release listed the companies and vessels as: United Arab … [Read more...]
Investing Habits of the Fairly Wealthy: #3 “Promiseland”
Are you committed? Committed to being a fairly wealthy, highly successful investor? Then this habit is for you. Because I believe you can reach your “promiseland.” I believe you can live your dreams. But can you keep them? Because investing is a lifelong, multi-generational endeavor. Imagine how you’ll feel when you have enough to retire and no longer worry about where your income will come from. I wish I could say it happens the minute you retire. But when the paychecks stop, a new anxiety begins. Having guided hundreds of investors through their retirement lives, my happiest clients … [Read more...]
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