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Interview with Transportation Secretary Pete Buttigieg on “Face the Nation” – March 31, 2024
Transportation Secretary Pete Buttigieg joined Ed O’Keefe on “Face the Nation” on March 31, 2024, to discuss the recent incident in Baltimore, where parts of planes fell out of the sky. Buttigieg described the situation as a national crisis, highlighting the importance of addressing the issue promptly. The conversation also touched on the ongoing efforts to remove the ship, clear debris, and reopen the channel in Baltimore.
When O’Keefe asked about the timeline for this process, Buttigieg mentioned that the work is underway, with a complex plan in place to ensure the safe dismantling of the ship and the restoration of the port. He emphasized the importance of getting the port back up and running quickly for both the people of Baltimore and the national supply chains. Buttigieg also mentioned the funding and technical assistance provided by the federal government to support Maryland in this effort.
Regarding the reconstruction of the bridge, Buttigieg explained that estimates on the timeline are still pending. He highlighted the need for a comprehensive plan to assess the condition of the bridge and the work already being done by Maryland DOT. The conversation shifted to the funding for the project, with Buttigieg mentioning the use of emergency relief funds and the possibility of seeking additional support from Congress.
When asked about concerns regarding Boeing’s safety measures, Buttigieg emphasized the importance of a cultural change within the company to prioritize safety. He mentioned ongoing audits by the FAA and the need for Boeing to demonstrate a commitment to quality and safety before increasing production.
In response to questions about aviation safety, Buttigieg reassured the public of the rigorous standards and processes in place to ensure airline safety. He highlighted the exceptional safety record of air travel in the United States and encouraged confidence in the system.
The conversation concluded with O’Keefe asking Buttigieg about his future aspirations in politics. Buttigieg expressed his dedication to his current role as Transportation Secretary and his focus on delivering results. He mentioned the challenges and rewards of his position and indicated that he remains uncertain about his future political ambitions.
Overall, Buttigieg’s interview on “Face the Nation” provided insights into the ongoing efforts to address transportation challenges, the importance of safety in the aviation industry, and his commitment to serving in his current role. Moving forward, the nation will continue to look to Buttigieg and the Department of Transportation for leadership in ensuring the safety and efficiency of the country’s transportation systems.
News
Is now the right time to invest in gold as prices have cooled?
The price of gold has climbed to record highs recently and has remained strong through much of April. And, that growth continued until the precious metal traded at around $2,390 per ounce on April 19, 2024. But since, growth in the price of the precious metal has cooled, with gold’s price now hovering around $2,300 per ounce.
This lull in gold’s price may represent an investment opportunity.
In general, investing is centered around buying assets when prices are low and selling them when prices are high – generating a profit on the difference between the two. So, considering the declines in gold’s price over the past few days, now may be the time to make your investment. But is buying gold during this lull in prices really a good idea?
Compare your gold investment options among leading brokers now.
Gold prices have cooled. Should you buy in now?
With gold’s price down from recent highs, you may be wondering if now is the right time to buy in. There are several reasons the dip in gold’s price may represent an opportunity to buy. Here are some of the biggest:
Prices may rise again
If looking at a gold price chart shows anything for certain, it shows that changes in the overall growth of the medal come in fits and spurts. Periods of price growth are typically followed by periods of declines and vice versa.
But with inflation rising in recent months – and with gold’s reputation as a safe-haven asset that can hedge against inflation – it only makes sense that the price of the precious metal will eventually start to head up again in the future. While attempting to time that directional change may be tricky, buying the precious metal while the price is down gives you the opportunity to take advantage of any upward movement that may be ahead.
Add gold to your portfolio now before prices have a chance to rise.
You may be able to make a quick profit
Gold isn’t known as an asset in which you can earn a quick return, but in today’s market, that may be the case. Don’t forget that in January, gold was trading at just $2,000 per ounce. And, by mid-April, the commodity’s price had climbed to around $2,400 per ounce. That’s about 20% growth in a matter of months, much of which happened since March 1 – an impressive climb for any investment asset.
Perhaps more importantly, gold’s price growth through the beginning of 2024 shows that the commodity doesn’t have to be a buy and hold style investment that you keep in a safety deposit box or precious metal depository for years to come. There’s also the possibility that the commodity’s price could climb further ahead, making it a compelling way to potentially generate a quick profit.
There are other benefits of investing in gold
There are other benefits of investing in gold that have little to do with the price growth seen thus far in 2024 – or the lull in prices seen over the past couple of days. Those benefits include:
- Inflation protection: Gold has long been considered an inflation hedge, and for good reason. When inflation drives the prices of consumer goods and services up – and the value of the dollar down – gold’s price tends to rise. So, it could be used to maintain the value of your portfolio during inflationary economic conditions. That’s important in today’s economic environment as stubborn inflation continues to weigh on the value of the dollar.
- Portfolio diversification: Gold’s price doesn’t always move in the same pattern that bonds or stocks do. So, mixing a reasonable amount of gold into your portfolio (up to 10% of your portfolio assets) as a diversifier could protect you from losses should one or more of your traditional portfolio assets fall in value. “If you have less than 5% – 10% of your net worth in commodities & FX (forex), you should absolutely consider adding exposure to gold and other precious metals,” says Vijay Marolia, money manager and managing partner at the wealth management firm, Regal Point Capital.
The bottom line
Gold’s price has fallen from recent highs – which may represent an opportunity to tap into growth ahead. However, gold isn’t simply a “buy while it’s low and sell while it’s a high” kind of investment opportunity. The commodity can also protect your portfolio from the stubborn inflation we’ve seen thus far in 2024 while acting as a diversification tool that could increase your risk-adjusted portfolio returns. So, consider adding gold to your portfolio today while it has the potential to grow in value.
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