May 13, 2023
Since last week:
The latest interest hike is behind us and now more noise is being made about the debt ceiling fight.
1. The Debt Ceiling Battle
The debt ceiling fight continues to rage, and now big names like Janet Yellen and Jamie Dimon are sounding the alarm bells about what will happen to the economy if the issue isn’t resolved soon. There is sure to be volatility between now and whenever this is resolved, so you will want to prepare for that.
2. Allies Issue Warnings
Gun violence is such a big problem that other countries are warning their citizens who want to travel to the US. Canada, the UK, and Australia are among the countries warning citizens about open carry laws and how to respond to active shooter situations. Incidents like this are why gun violence and crime prevention will be a big industry over the next few years, with one company in particular using predictive AI to make the streets of America safer.
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3. Gold Holds
Gold prices are climbing and look to be continuing that trend. Prices are up 10% so far this year and are on pace to hit their highest level ever as a number of factors cause investors to look for economic safe havens. Coins and bullion are the traditional ways people have protected their wealth with gold, but the real money is made in holding the right mining companies. One specific company is sitting on a deposit that could end up being the biggest ever.
4. Rhode Island’s EV Move
Add Rhode Island to the list of states that want to ban the sale of gas cars. They plan on doing so by 2035, making them the latest in a wave of states announcing these changes. It will begin enforcing new standards in 2027 when it wants 43% of new cars and trucks to either be electric or hydrogen-powered. The trend is catching on and car companies are going to need lithium to keep up. So you’ll want to put your money on lithium miners to profit.
What to Look For:
Between inflation, banking crises, and the debt ceiling, consumer sentiment is trending downward. Look for that to weigh on the markets for the next few weeks.
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Editor, Daily Profit Cycle