February 21, 2024

Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. In this column, JWR also covers hedges, derivatives, and various obscura. This column emphasizes JWR’s “tangibles heavy” investing strategy and contrarian perspective. Today, we look at electric car woes, in cold weather. (See the Commodities section.)

Precious Metals:

At Zero Hedge: First Costco, Now Walmart? Major Retailers Now Offer Gold Bars.

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Keith Weiner: The Anti-Concepts of Money: Stagflation.

Economy & Finance:

Federal Reserve Payments to Banks Trigger Largest Ever Operating Loss. JWR’s Comments: It is a good thing that they are in the “Making money from thin air” business. For any other entity, it might spell doom.

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Zhongzhi Enterprise Group, again: Chinese Company That Sparked Fears of Financial Contagion Falls Into Bankruptcy.

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$8.2T in Maturing Treasuries in 2024, Yellen Faces Political Pressure Amid Falling Yields.

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Linked over at the Whatfinger.com news aggregation site:

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Reader C.B. sent this:  World Bank: Global Economy on Track for Worst Half-Decade of Growth in 30 Years.

Commodities:

Hertz to Sell 20,000 EVs in Shift Back to Gas-Powered Cars.

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Tesla supercharging station packed in Oak Brook, dead cars line parking lot due to frigid temps. Thearicle begins:

“Electric vehicles may be the way of the future, but many EV owners are having trouble dealing with Chicago’s bitterly cold temperatures. Public charging stations have turned into car graveyards over the past couple of days.”

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EV drivers discover fundamental flaw in car battery tech as -30F temperatures hit the US.

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Nolte: Washington Post Buries Inconvenient Facts of EV Trip to South Pole.

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Solar modules are piling up in warehouses as a massive supply glut has slashed prices by half, IEA says.

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Texas Gas Producers Weathering the Storm for Electricity Production.

Native American Tribal Reservation Economies:

Native American Poverty Rate by State 2024.

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The Crown broke a promise to First Nations. It could now owe billions.

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How tribal gaming has changed over time and impacts tribes today.

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New Mexico Supreme Court Rules Tribal Courts Have Jurisdiction Over Casino Injury and Damage Cases.

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Tribes are Bringing Safe Sports Betting to Washington.

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Economic Freedom on American Indian Reservations Corresponds with Higher Incomes.

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Native American Energy Sovereignty is key to American Energy Security.

Forex & Cryptos:

Larry Greenberg: Intensifying Equity Correction and Much Fresh Data to Absorb.

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German Economy, Europe’s Largest, Shrinks.

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Trump Vows To “Never Allow” A Central Bank Digital Currency.

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Ethereum ETF Approval Odds Hover Around 50%.

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‘Dark money’ crypto lobbying groups are coming to Washington.

Tangibles Investing:

Hagerty’s eighth annual “Bull Market” list of classic cars that will rise in value in 2024.

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From the UK: Classic car experts say these eight models will soar in value in 2024.

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These Vehicles Are Dead for 2024.

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And lastly, blog reader C.B. sent this news item: US office buildings face $117BN debt time bomb: Mortgages due this year threaten to sink US economy as thousands of workplaces remain empty.

Provisos:

SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos page for our detailed disclaimers.

News Tips:

Please send your economics and investing news tips to JWR. (Either via e-mail or via our Contact form.) These are often especially relevant because they come from folks who closely watch specific markets. If you spot any news that would be of interest to SurvivalBlog readers, then please send it in. News items from local news outlets that are missed by the news wire services are especially appreciated. Thanks!