Money, Wealth & Power—A Daily Look at the Financial World
Economist Peter Schiff, who built his reputation on warning about the 2008 housing collapse before it happened, is now arguing that the United States faces a fiscal crisis that could exceed the severity of that downturn. His case rests on a combination of ballooning federal debt, rising interest payments that now rival defense spending, and…
Gold prices crashed more than $1,000 per ounce from their record highs at the start of 2026, punishing investors who had piled into the metal as an inflation hedge. The sell-off, triggered by shifting Federal Reserve expectations and exchange-level margin hikes, has forced a reckoning over how retail investors hold gold and whether their chosen…
Home Depot and TJX Companies are set to report quarterly earnings that will test two competing forces shaping the retail sector: tariff-driven cost pressures on imported goods and tax-related financial benefits that could lift bottom-line results. The reports arrive as choppy U.S. housing demand and shifting trade policy create an uneven operating environment for retailers…
E. & J. Gallo Winery is shutting down a major Napa Valley production facility and cutting dozens of jobs across five California locations, a move that strips away positions tied to some of the state’s most recognized wine labels. The closure of the 70-acre Ranch Winery in St. Helena, which Gallo purchased in 2015, eliminates…
The Department of Homeland Security reversed its plan to suspend TSA PreCheck during the ongoing government shutdown, backing down after swift backlash from travelers, airlines, and members of Congress. The abrupt U-turn, which came roughly one week into the funding lapse, left Global Entry users without the same relief and raised pointed questions about whether…
The Vanguard S&P 500 Value ETF, ticker VOOV, has been outpacing the broader S&P 500 this year as investors rotate into cheaper, dividend-paying stocks and away from the high-growth names that dominated recent rallies. The fund tracks the S&P 500 Value Index, a subset of the S&P 500 that filters for stocks with lower price-to-book…
Gold prices slid sharply this month, falling below $5,000 an ounce from late-January record highs, rattling traders who had grown accustomed to a relentless rally. Billionaire Thomas Kaplan, chairman of NovaGold Resources and one of the most vocal gold bulls in the investment world, is telling anyone who will listen that the pullback is a…
New federal data and central bank research show that the job market has cooled for recent U.S. college graduates, tightening the search for entry-level roles just as a new class leaves campus. The squeeze is especially severe for graduates in lower-paying majors, who are entering a weak hiring cycle with smaller financial cushions than peers…
Treasury Secretary Scott Bessent has accused the Federal Reserve of running annual losses of more than $100 billion and of operating under a statutory framework that limits independent audits of key monetary policy decisions. The criticism surfaced in mid-2025 coverage and resurfaced in reporting on his Feb. 4, 2026, congressional testimony, as he clashed with…
Precious metals surged on February 20, 2026, after the Supreme Court struck down tariffs imposed under the International Emergency Economic Powers Act and President Trump responded by announcing a 15% global import surcharge under a different legal authority. Silver posted a roughly 9% gain while gold rose, as investors reacted to the tariff ruling, the…