— U.S. consumer sentiment rose in Oct. (to 70.5 on key U Michigan Survey), and is up six percentage points from a year ago, but is still well below pre-pandemic levels (100+ on index).
— Gold hit a record price of $2,758.37 per ounce, and is up 32% over the past year on concerns about the Middle East conflict, potential for U.S. inflation to re-flare and angst over U.S elections.
— Total government debt globally will hit $100 trillion by year-end, and is projected to be 100% of global GDP by 2030; the U.S. and China are largest contributors.
— Profits at China’s industrial companies (factories, mines, utilities) sank 27% in Sept. vs. a year earlier, after an 18% drop in Aug.; profits are down 3.5% so far in 2024 vs. 2023.
— Mexico is seeing record foreign investment as companies set up operations there that import from China and then export to the U.S, to bypass U.S. tariffs on Chinese imports.
— Use of massive batteries to store power for the U.S. electrical grid has soared in the past four years, equating to the output of 20 nuclear power plants.
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