News Story of the Day: With Great Britain possibly exiting the European Union, Donald Trump inching his way into the White House and global economic slowdowns, some experts see gold reaching $1,400 an ounce sometime this year.
The yellow metal has surged 20 percent so far this year, though it has hiccuped in the last couple of weeks, particularly when the Federal Reserve announced it may raise interest rates next month. Here is what Ole Hansen, head of Commodity Strategy, told Bloomberg News:
“It’s not just one risk right now,” said Hansen. “We have got several risks, so when you start adding them up, it could be that additional risks will sway some investors to add exposure to gold or maybe revisit gold.
Chart of the Day: United States jobless claims jumped early in May to a 14-month high of 294,000. Surprisingly, though, this was spiked by New York. The government presented a new law that would allow bus drivers, school employees and cafeteria workers to apply for benefits during spring break. Here is the chart courtesy of MarketWatch:
Illustration of the Day: Econlib has a very cool meme featuring Ludwig von Mises and Friedrich Hayek, two legendary economists that every person should read. Unfortunately, socialism is still very much cool among millennials, the political theater and college campuses. Here is the meme:
Quote of the Day: Want a simpler but richer explanation of the model of pricing? Well, here is a Ludwig von Mises has a very simple model for all to understand – much better than the oversimplified statements made by Keynesians and socialists:
“What is it worth? To whom? At what time? In what context? In relation to what other goods?”
Video of the Day: Canadian Prime Minister Justin Trudeau is a self-absorbed, inept, selfie-obsessed politician. With that being said, this week’s incident in the House of Commons in Ottawa was pretty ridiculous, and highlighted Canada’s own political theater. Trudeau was accused of assaulting Member of Parliament Ruth Ellen Brosseau (look her up; you’ll be surprised how she was elected in 2011!) and manhandling a whip. The video below identifies how Trudeau was set up from the beginning. Trudeau can be criticized for a lot of things, but this incident was pathetic.
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