Cuban Vs Ackman, Dalio's Advice To China, Krugman's Warning, And More: This Week In Economics

Benzinga Neuro

October 20, 2024

This week was a whirlwind of financial news, with billionaires clashing over political policies, renowned investors offering advice to world leaders, and economists warning against potential economic pitfalls. Let’s dive into the top stories that made headlines.

Mark Cuban And Bill Ackman Lock Horns Over Harris’ Tax Proposal

Mark Cuban and Bill Ackman found themselves at odds over Democratic presidential candidate Kamala Harris‘ tax proposal for startups. Ackman, a staunch supporter of Donald Trump, labeled Harris’ proposal as “extremely misleading,” sparking a heated exchange with Cuban.

Read the full article here.

Ray Dalio’s Strategy For China’s Debt Crisis

Billionaire investor Ray Dalio has urged China to adopt a “beautiful deleveraging” strategy to prevent a looming debt crisis. Dalio believes that China’s recent stimulus measures should be balanced with debt restructuring, money printing, and debt monetization.

Read the full article here.

See Also: Hedge Fund Billionaire Daniel Loeb Bets On Trump Win, Singles Out This Recent Buy As Having ‘Significant Upside Potential’

Paul Krugman’s Warning On Trump’s Tariff Plan

Nobel laureate Paul Krugman has warned that former President Donald Trump’s proposed tariff plan could set back economic progress by 90 years and potentially ignite global conflict. Trump’s suggestion of tariffs as high as 20%, including a 60% tariff on imports from China, has been met with widespread opposition from economists.

Read the full article here.

Former FDIC Chief’s Warning To Federal Reserve

Former FDIC Chief Sheila Bair has expressed concern over the Federal Reserve’s potential rate cuts amidst a thriving economy. Despite positive economic indicators, the Federal Reserve, led by Chair Jerome Powell, is considering further rate cuts to stimulate a perceived cooling labor market.

Read the full article here.

Trump’s Potential Federal Reserve Pick Defends Rate Cuts

Kevin Hassett, Donald Trump’s potential nominee for the Federal Reserve, has defended the central bank’s recent interest rate reduction, despite Trump’s criticism. Hassett justified the rate cut, citing a weakening jobs market.

Read the full article here.

Read Next:

EXCLUSIVE: Robinhood's Bitstamp Deal Will Drive Growth, Exec Says: â€˜What Was Good For Stocks â€¦ We Brought Into Crypto'

Photo courtesy: Shutterstock

This story was generated using Benzinga Neuro and edited by Ananya Gairola

Recommended

Financial Nightmare Coming After Election - Ad

U.S. Government Report Alert Tuesday - Ad

Wall Street Slashes NVDA Holdings - Ad

NEW YORK (AP) — Walmart said Friday it has reached a proposed settlement pact related to three lawsuits filed by shareholders on behalf of the company over the handling of prescription opioids.

Fox's Bret Baier acknowledges 'mistake' in Harris interview over airing of Trump clip

Fox News anchor Bret Baier says he “made a mistake” during his interview with Kamala Harris in not airing video of a Donald Trump comment, something Harris pointed out to him in real time.

10X More Profitable Than Physical Gold?

10X More Profitable Than Physical Gold? - Ad

There's a backdoor gold play that could deliver 10 TIMES bigger gains than physical gold. In fact, this single investment has outperformed gold by 10-to-1 over the past 25 years... and FAR outperformed most gold stocks

Musk offers voters $1 million to sign PAC petition backing the Constitution. Can that be legal?

, the billionaire founder of Tesla and Space X and owner of X who's gone all-in on Republican candidacy for the White House, has already committed at least . Now he's pledging to give away $1 million to voters for signing his political action committee's petition backing the Constitution.

Tesla Has A New Chinese Electric Vehicle Competitor: How A Company That Used To Sell Cheap TVs Is Entering EV Race

The maker of affordable televisions, an Chinese electronics company showed off a new EV model at the Paris Motor Show.

"Kings of Billion-Dollar Mines" Have Found a New Target...

"Kings of Billion-Dollar Mines" Have Found a New Target... - Ad

Some of the smartest investors in the resource industry - the "Kings of Billion-Dollar Mines" - have identified their next big opportunity. Led by two brothers with deep roots in mining, they've found themselves in one of the richest gold regions in America. This team has a track record of success and they believe this company is next in line for massive growth.

Alabama man arrested in SEC social media account hack that led the price of bitcoin to spike

WASHINGTON (AP) — An Alabama man was arrested Thursday for his alleged role in the of a U.S. Securities and Exchange Commission social media account that led the price of bitcoin to spike, the Justice Department said.

Cuba gets some electricity back after major power outage left millions in the dark

HAVANA (AP) — Cuba's government on Saturday said that some electricity was restored on the island after one of the country's major power plants failed and left millions without electricity in an outage that started two days earlier.

New Token Poised for Breakout as "Defi 2.0" Takes Off

New Token Poised for Breakout as "Defi 2.0" Takes Off - Ad

Revealed: The #1 DeFi Coin Driving Financial Revolution. Experts hail this as the cornerstone of the new decentralized finance era. While Bitcoin dominates headlines, this governance token is quietly reshaping lending markets. Experts suggest accumulating before institutional money flows in.

Kamala Harris Blames Amber Thurman's Death On Georgia Abortion Law, Slams Trump For 'Cruel' Remarks

Vice President Kamala Harris on Saturday blamed Amber Thurman's death in Aug. 2022 on Georgia's abortion laws and accused former President Donald Trump of belittling her family's sorrow.

Supreme Court allows a rule limiting pollution from coal-fired power plants to remain in effect

WASHINGTON (AP) — The on Wednesday allowed a Biden administration regulation aimed at limiting planet-warming pollution from coal-fired power plants to remain in place as legal challenges play out.

Is Gold Headed Above $3,000 per Ounce? Here's How to Play It...

Is Gold Headed Above $3,000 per Ounce? Here's How to Play It... - Ad

With so many strange events happening across the economy (the longest bear market for bonds since the Civil War... unprecedented bank closures... and soaring prices), it's no wonder the richest investors are loading up on gold. But what you might not realize is there's a much better way to profit from rising gold prices -- WITHOUT ever touching an ETF, mining stock, or even bullion.

Permits put on hold for planned pipeline to fuel a new Tennessee natural gas power plant

NASHVILLE, Tenn. (AP) — A federal appeals panel has temporarily halted two permits needed to begin construction on a pipeline project in Tennessee that will supply a natural gas plant.

Tim Cook Called To Complain About Billions In EU Fines Imposed On Apple, Says Trump: 'I'm Not Going To Let Them Take Advantage Of Our Companies'

Republican presidential candidate Donald Trump revealed that he spoke with Apple CEO Tim Cook, who expressed frustration over the EU's recent $17 billion in fines against the company, with Trump pledging to protect U.S. businesses from such penalties if re-elected.

Gold: Now Legal Tender

Gold: Now Legal Tender - Ad

Most Americans missed this big story, but 1 in 5 states have now made gold and silver coins legal tender. It's just one reason why so many predict gold will soon hit $5,000. And why you need to check out this $6 strategy for gold immediately.

Allstate Records $630M In Losses From Hurricane Helene, Other Insurers Report Significant Losses As Damage Mounts

Allstate reports $630 million in catastrophe losses related to Hurricane Helene alone. The company reports total estimated catastrophe losses of $889 million for September, more than twice the amount reported for the same month last year.

Former NATO Chief Predicts 'Shutdown Of Oil' Amid Israel-Iran Conflict

Former NATO Chief Admiral James Stavridis says the growing conflict between Israel and Iran may lead to a disruption in the oil supply from the Middle East.

Tesla Execs Are Freaking Out

Tesla Execs Are Freaking Out - Ad

You might not believe what you're about to see is real, but I assure you the video has been left unedited. It's so revolutionary that tech giants like Microsoft, Amazon, and NVIDIA are all lining up to get their hands on it. And Elon Musk has completely restructured Tesla to chase this opportunity.

Kamala Harris Defends Immigration Policy At Latino Town Hall, Criticizes Trump's Border Stance

Kamala Harris defends immigration policy at town hall, citing bipartisan bill and Trump's sabotage. Critics falsely blame her for drug smuggling.

Amazon AWS CEO Stands Firm On 5-Day Office Policy â€” Opponents Can Head For The Exit Door: 'There Are Other Companies Around'

Amazon's AWS CEO Matt Garman defended the new five-day in-office policy, urging those opposed to consider other jobs, as most employees he spoke with support it.

Oil Prices Surge Due to Israel-Iran Conflict

Oil Prices Surge Due to Israel-Iran Conflict - Ad

Time is not on our side. Heightened tension in the Middle East has created a huge supply shock to the global oil industry. But I've found a new way to invest in oil right here in the US. It's not a stock, bond, or private company. It's securely located right in the heartland. And you can get in for under $15.

Biden admin to provide $750 million to North Carolina-based Wolfspeed for advanced computer chips

WASHINGTON (AP) — The Biden-Harris administration announced plans Tuesday to provide up to $750 million in direct funding to Wolfspeed, with the money supporting its new silicon carbide factory in North Carolina that makes the wafers used in advanced computer chips and its factory in Marcy, New York.

Palantir, Amazon, Meta, Spirit Airlines, Tesla: Why These 5 Stocks Are On Investors' Radars Today

PLTR, AMZN, META, SAVE, TSLA were among the top trending stocks on Thursday Oct. 3, 2024.

Elon Musk: This Will Be Bigger Than Tesla

Elon Musk: This Will Be Bigger Than Tesla - Ad

I'm talking about Elon Musk's Optimus robots. These robots will make it cheaper to manufacture goods here in America than China, and I predict soon, AI technology will open a "wealth window" that could be the biggest wealth-building opportunity of your lifetime.

SpaceX Wins Major US Space Force Contract Worth $734M For National Security Missions

Elon Musk's SpaceX has secured a significant $733.6 million contract from the U.S. Space Force to execute at least nine national security launches.

Social Security's scheduled cost of living increase 'won't make a dent' for some retirees

WASHINGTON (AP) — Sherri Myers, an 82-year-old resident of Pensacola City, Florida, says the Social Security cost-of-living increase she'll receive in January “won't make a dent” in helping her meet her day-to-day expenses.

Prepare for President Kamala

Prepare for President Kamala - Ad

I won't be voting for her. Even so, I'm worried VP Kamala Harris could pull off a victory and become our next president. And it would be much worse than anything you might expect--especially when it comes to your money. Because likely WON'T get a second chance at recovering the money you stand to lose if she takes power.

Top 3 Consumer Stocks Which Could Rescue Your Portfolio This Quarter

The most oversold stocks in the consumer discretionary sector presents an opportunity to buy into undervalued companies.

Cloudflare Opens New Lisbon HQ, Supporting 350+ Employees

Cloudflare expands in EMEA with new HQ in Lisbon, Portugal and plans for further growth. Key executives and local officials attend the opening event.

Hundreds of Hedge Funds Are Fleeing This Stock

Hundreds of Hedge Funds Are Fleeing This Stock - Ad

A strange force has seized control of Wall Street. Hedge funds are already moving their money... and preparing for even stranger days ahead. Over 320 hedge funds have quietly sold THIS famous stock -- to prepare for a dramatic market shift Get the strange truth from a 50-year Wall Street insider... including the name and ticker of the stock hedge funds are selling hand-over-first.

Trump Backs Out Of Planned '60 Minutes' Interview, Ex-President's Campaign Says CBS Asked For Unprecedented Live Fact Checking

Former President Donald Trump has reportedly withdrawn from a scheduled appearance on CBS "60 Minutes."

Tesla, Uber, AMD, Aehr, And TD Bank: Why These 5 Stocks Are On Investors' Radars Today

The S&P 500, Dow Jones Industrial Average, and the tech-heavy Nasdaq 100 all mirrored the decline falling 0.2%, 0.1%, and 0.05% respectively.

Early Nvidia, AMD, and Tesla Investor Shares New AI Picks

Early Nvidia, AMD, and Tesla Investor Shares New AI Picks - Ad

Jeff Brown, the tech expert who recommended Nvidia, AMD, and Tesla, is now releasing new AI stock picks. He believes they could deliver even bigger gains than before.

Vance Vs. Walz: Flash Poll Picks This Candidate As Tuesday's Debate Winner, But He Falls Short In Favorability Rating

The vice presidential debate was far from being confrontational and the two sides avoided personal attacks and deliberated mainly on policies.

For migrant women who land in Colorado looking for jobs, a common answer emerges: No

AURORA, Colo. (AP) — East Colfax Avenue was the best place to find a job. That's what everyone told Sofia Roca.

Market Wizard Predicts "Three Years of Famine"

Market Wizard Predicts "Three Years of Famine" - Ad

Hedge fund vet Larry Benedict shares his urgent forecast and reveals the one ticker to protect your portfolio.

American despair: In Arizona, high home prices and limited prospects shape voters' presidential pick

MESA, Ariz. (AP) — Karl Peterson has been living the cruel inverse of the American dream. His rent keeps getting higher, but his apartments keep getting smaller.

$26M Bet On Trump's Election Victory Fuels Speculation Of Coordinated Activity On Polymarket (UPDATED)

Single entity behind $26 million Trump bet on Polymarket, coordinated activity with similar deposit patterns, raises questions about manipulation.

These Stocks Could Surge Despite the Current Downturn