The early reviews of Election Insider are in…

“An excellent report,” Stephanie D. says, “short, specific and very informative!” And Tom D. writes, “I love it: short, sweet and to the point. Keep it coming.”

Will do. And I appreciate the kind feedback.

On a different note, you’ve probably heard that former President Donald Trump sat for an interview with Elon Musk.

The two-hour conversation on Monday was hosted on Musk’s X platform. (And it was reportedly glitchy as hell.)

To say the least, reviews haven’t been favorable. For instance, this headline at USA Today…

Isn't it fascinating how — since Biden dropped out — the mainstream media has expediently turned age into the hottest topic on the campaign trail?

Just my observation.

Since we try to search out the financial angle, Trump described inflation as a “disaster” that’s “eaten you alive” regardless of income level.

He further highlighted how many Americans have depleted their savings and borrowed money to cover basic living expenses.

Musk agreed, adding that inflation acts as a “tax on people [that] are working day to day.”

In my opinion, the interview’s moment of cognitive dissonance (aside from two billionaires discussing the plight of average Americans):

• Reduced Spending: Musk called for cutting the government’s bloated budget
• Deregulation: He suggested eliminating onerous regulations that choke American innovation
• New Commission: Paradoxically, he proposed establishing a government efficiency commission to oversee the use of tax revenue.

Two out of three ain’t bad?

While flawed, the conversation between Trump and Musk underscores critical issues facing everyday Americans.

And the upcoming election will show whether Americans prioritize their personal economic struggles over culture war politics.

Send your opinions to, feedback@newsyoucanacton.com

Your Rundown for Wednesday, August 14, 2024...

Gold vs. Stocks: Jim Rickards Weighs In

“I welcome the political commentary,” Dan C. adds. “Politics plays such a significant role in the market that it makes sense.

“One thing I don’t understand,” he continues, “is that gold is following the leader with the S&P 500. If gold is in lockstep with stocks’ trend, then is cash the ONLY safe bet?”

To our reader’s point, over the period from 2018–2023, gold positively correlated with the S&P 500 Index about 80% of the time.

But the price of stocks and gold disconnects most during periods of economic crisis — for instance, the dot-com crash of 2000… the Great Recession of 2007-2009… and the stock market crash of March 2020.

Perhaps that disconnection is not as you’d expect. (More on that in a moment.)

As of this week…

Of course, the market is volatile; at last check, total returns from gold and the S&P 500 year-to-date are 19.8% and 14.5% respectively. But you get the idea…

“Gold has its own dynamics,” says Paradigm’s macro expert Jim Rickards.

“Typically, when stocks crash, gold does not rise immediately. Gold goes down because weak hands sell to raise cash to meet margin calls on stock positions or simply to be more liquid.

“Momentum can take the selling a bit further from there,” Jim says. “The strong hands take a beat, look for a new bottom and then jump in aggressively.

“The result is that gold hits new highs not long after the initial dip.”

• Case in point: In March 2008, gold prices exceeded $1,000 per ounce for the first time. But as the global financial crisis escalated later that year, the price dropped to nearly $700

• Following this decline, gold experienced a significant rebound, ultimately reaching a peak of $1,900 less than three years later.

Currently, “we expect gold to settle comfortably above $2,500 per ounce on its way to $2,750,” Jim says, “and then $3,000 or higher in the months ahead.”

Market Rundown for Wednesday, Aug. 14, 2024

The S&P 500 futures are barely in the green at 5,460.

Oil futures are up 0.10% to $78.45 for a barrel of WTI.

Gold futures? Also up about 0.10% to $2,511 per ounce.

And, at the time of writing, Bitcoin is up 0.75% to $61,210.

Send your comments and questions to, feedback@newsyoucanacton.com