Managing Editor’s note: This is your last chance to sign up for Adam O’Dell’s upcoming presentation on what he’s calling “The Next Big Short.” Click here to add your name to the guest list and get ready for him to reveal his No. 1 stock later today at 1 p.m. Eastern.
A recent National Review article caught my eye the other day.
Western governments are throwing money at the electric vehicle (EV) market.
EV investment in the U.S. alone is substantial.
There’s $5 billion for a national charging network … millions in taxpayer dollars to fund EV-battery manufacturing plants in the U.S. … and thousands in tax credits for EV purchases.
Zooming out, data firm Mordor Intelligence calculates that the global EV market will grow more than 238% from 2021 to 2027.
While this is a booming industry, our Stock Power Ratings system shows that not all EV manufacturers make great investments.
And that’s especially the case with the stock I found for you today.
The world’s largest investment fund is now using artificial intelligence (AI) and Big Data to zero in on the No. 1 investment of the 2020s. While analyzing over 2 billion data points, it found the No. 1 place to put your money over the next decade is the little-known technology I call “Imperium.” This new tech’s user base is growing at 5X the speed of the internet in the 1990s — and could dwarf the dot-com boom.
Millions of us rely on 401(k) plans for retirement income.
We put money away today to enjoy secure retirement years — or even decades — from now.
But the funds are always available in case of emergency.
Unfortunately, the number of emergencies is rising sharply.
According to research firm Empower, 1.3% of plan participants took a hardship withdrawal in 2022. While that's a small percentage, it's a 24% increase over the previous year.
Participants with household income below $60,000 made a majority of withdrawals. These households accounted for 60% of withdrawals in the study. You can see how that trend rose since 2020 in the chart below.
This is yet another sign of financial stress in the economy — and that stress is likely to continue.
Furthermore, a survey by Empower found that 28% of plan participants are considering a loan or withdrawal in the next six months.
Bottom line: This is another indicator of an economic slowdown that the low unemployment rate is hiding.
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