Trump's new drone orders aim to counter threats while encouraging flying cars and supersonic flights
WASHINGTON — President Donald Trump wants to counter the threats drones pose to national security under new rules released Friday, while also aiming to make it easier for Americans to fly faster than the speed of sound and expedite the development of the flying cars of the future.
The three executive orders will encourage the Federal Aviation Administration to expedite rules to allow companies to use drones beyond their operators' line of sight, while also imposing restrictions meant to help protect against terrorism, espionage and public safety threats.
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Forbes
3 minutes ago
- Forbes
Why We're Dodging These 3 Gold CEFs (Even With Gold Soaring)
A lump of gold on a stone floor getty Here's a surprise from a die-hard closed-end fund (CEF) fan like me: Sometimes CEFs aren't your best bet. I'll admit, that's tough for me to say—especially when the average CEF yields a historically high 9.1%. (CEF yields are usually around 8.5%). That high yield partly reflects the fact that many CEFs are trading at steep discounts to their net asset value (NAV). Translation: The fund is trading for less than what its underlying portfolio is worth. That, in turn, has resulted in lower prices among some CEFs, along with higher yields (as yields and prices move in opposite directions). All of this simply means that CEFs are generally out of favor right now, which is an opportunity for us. But not every CEF is ripe for buying. We especially want to avoid the three top performers among CEFs with market caps over $200 million: ASA Gold and Precious Metals (ASA), the Sprott Physical Gold Trust (PHYS) and the Sprott Physical Gold and Silver Trust (CEF). The fact that these funds have booked strong runs this year shouldn't come as a surprise: They're all gold funds, and gold has taken off due to rising economic uncertainty (the usual fuel for the yellow metal). Even so, as you can see, there are some clear differences in performance here, and those are worth unpacking. Gold Funds Ycharts Above we see that the Sprott Physical Gold and Silver Trust—with the somewhat confusing 'CEF' ticker, not to be confused with CEFs in general (in purple)—and PHYS (in blue) have similar returns to the benchmark SPDR Gold Shares (GLD) ETF (in green), at around 25%. Then there's ASA (in orange), which has more than doubled even the best of these three other funds. There is some logic at work here. For starters, PHYS and GLD really should track each other, since they both devote almost 100% of their portfolios to physical gold (both own gold bars that are locked up in vaults), and both have similar expense ratios (0.4% for GLD, 0.41% for PHYS). The lower performance of 'CEF' is also not surprising, given that the fund also holds silver, and the 'poor man's gold' hasn't done as well as its yellow counterpart this year. ASA, however, is the clear outperformer. That's thanks in part to its ownership of several gold-mining stocks. Its largest position, G Mining Ventures Inc., a Canadian firm that explores for precious metals, has nearly doubled year to date. ASA's fast short-term gain is, of course, great, but it's unlikely to last. Here's why. Note that, if we go back to 2010, the year the last of these funds, PHYS, launched, we see that GLD (again in green) outran all three of the CEFs. This shows that CEFs were poor options in the case of gold. Moreover, ASA (again in orange) was actually the worst performer, returning just 53% over 15 years, and being in the red for most of that time. ASA Underperforms Ycharts In terms of key takeaways, there are a few here. First, if you want to hold gold, this is a rare case where an ETF, not a CEF, is the better choice. Second, gold is not a great play for income, given that the highest yielder among these funds is ASA, with a puny 0.2%. Third, gold itself is a poor play for the long term, no matter how you invest in it. To see why, all we need to do is splice the S&P 500's performance (in pink below) into that last chart. Gold Underperforms Ycharts It doesn't get much clearer than that! This, however, is where the good news ends for ETF investors. Because when it comes to investing in stocks (or pretty well any other asset class, for that matter), you're far better off with CEFs. Let's take a look at the Adams Diversified Equity Fund (ADX), a CEF we've held in my CEF Insider service since its earliest days: We bought ADX in July 2017, just a few months after CEF Insider's launch. Here's how the fund—current yield: 9% (and in orange below)—has done since, as compared to the S&P 500 index fund SPDR S&P 500 ETF Trust (SPY), in purple, with dividends reinvested: ADX Outperforms Ycharts This chart says it all: CEFs like ADX can crush the S&P 500 and pay us generously while doing so. Plus they give us access to top-notch management and upside-generating discounts to NAV, too. Those are strengths no index fund can match. Michael Foster is the Lead Research Analyst for Contrarian Outlook. For more great income ideas, click here for our latest report 'Indestructible Income: 5 Bargain Funds with Steady 10% Dividends.' Disclosure: none
Associated Press
8 minutes ago
- Associated Press
Vance says Musk making a 'huge mistake' in going after Trump but also tries to downplay the attacks
BRIDGEWATER, N.J. (AP) — Vice President JD Vance said Elon Musk was making a 'huge mistake' going after President Donald Trump in a storm of bitter and inflammatory social media posts after a falling out between the two men. But the vice president, in an interview released Friday after the very public blow up between the world's richest man and arguably the world's most powerful, also tried to downplay Musk's blistering attacks as an 'emotional guy' who got frustrated. 'I hope that eventually Elon comes back into the fold. Maybe that's not possible now because he's gone so nuclear,' Vance said. Vance's comments come as other Republicans in recent days have urged the two men, who months ago were close allies spending significant time together, to mend fences. Musk's torrent of social media posts attacking Trump came as the president portrayed him as disgruntled and 'CRAZY' and threatened to cut the government contracts held by his businesses. Musk, who runs electric vehicle maker Tesla, internet company Starlink and rocket company SpaceX, lambasted Trump's centerpiece tax cuts and spending bill but also suggested Trump should be impeached and claimed without evidence that the government was concealing information about the president's association with infamous pedophile Jeffrey Epstein. 'Look, it happens to everybody,' Vance said in the interview. 'I've flown off the handle way worse than Elon Musk did in the last 24 hours.' Vance made the comments in an interview with ' manosphere' comedian Theo Von, who last month joked about snorting drugs off a mixed-race baby and the sexuality of men in the U.S. Navy when he opened for Trump at a military base in Qatar. The vice president told Von that as Musk for days was calling on social media for Congress to kill Trump's 'Big Beautiful Bill,' the president was 'getting a little frustrated, feeling like some of the criticisms were unfair coming from Elon, but I think has been very restrained because the president doesn't think that he needs to be in a blood feud with Elon Musk.' 'I actually think if Elon chilled out a little bit, everything would be fine,' he added. Musk appeared by Saturday morning to have deleted his posts about Epstein. The interview was taped Thursday as Musk's posts were unfurling on X, the social media network the billionaire owns. During the interview, Von showed the vice president Musk's claim that Trump's administration hasn't released all the records related to sex abuser Jeffrey Epstein because Trump is mentioned in them. Vance responded to that, saying, 'Absolutely not. Donald Trump didn't do anything wrong with Jeffrey Epstein.' 'This stuff is just not helpful,' Vance said in response to another post shared by Musk calling for Trump to be impeached and replaced with Vance. 'It's totally insane. The president is doing a good job.' Vance called Musk an 'incredible entrepreneur,' and said that Musk's Department of Government Efficiency, which sought to cut government spending and laid off or pushed out thousands of workers, was 'really good.' The vice president also defended the bill that has drawn Musk's ire, and said its central goal was not to cut spending but to extend the 2017 tax cuts approved in Trump's first term. The bill would slash spending but also leave some 10.9 million more people without health insurance and spike deficits by $2.4 trillion over the decade, according to the nonpartisan Congressional Budget Office. Musk has warned that the bill will increase the federal deficit and called it a 'disgusting abomination.' 'It's a good bill,' Vance said. 'It's not a perfect bill.' He also said it was ridiculous for some House Republicans who voted for the bill but later found parts objectional to claim they hadn't had time to read it. Vance said the text had been available for weeks and said, 'the idea that people haven't had an opportunity to actually read it is ridiculous.' Elsewhere in the interview, Vance laughed as Von cracked jokes about famed abolitionist Frederick Douglass' sexuality. 'We're gonna talk to the Smithsonian about putting up an exhibit on that,' Vance joked. 'And Theo Von, you can be the narrator for this new understanding of the history of Frederick Douglass.' The podcaster also asked the vice president if he 'got high' on election night to celebrate Trump's victory. Vance laughed and joked that he wouldn't admit it if he did. 'I did not get high,' he then said. 'I did have a fair amount to drink that night.' The interview was taped in Nashville at a restaurant owned by musician Kid Rock, a Trump ally.
Gizmodo
12 minutes ago
- Gizmodo
This Market Slimmest 10000mAh USB-C Power Bank Is Almost Free, Now Cheaper Than a Movie Ticket
This charger is super compact and costs almost nothing compared to other models just like it. Having a good power bank is essential if you're an on-the-go person but not all portable chargers are created equal. Most of them are bulky and heavy, so it's a hassle to carry them around in your bag or pocket. That's why the INIU power bank is a must-have accessory: This ridiculously thin 10000mAh power bank is the thinnest available at a mere 0.5 inches thin and slips into any pocket or bag perfectly without wasting any space. Amazon is now offering this great gadget at a low price of just $15, which is 27% lower than its regular $21 price. At this cost, it's nearly a theft. See at Amazon 2 USB-A And 1 USB-C ports The INIU portable charger features a massive 10000mAh capacity and it fills up an iPhone up to 3.6 times, a Samsung Galaxy up to 1.8 times and AirPods Pro a huge 13.2 times. This means your devices will be charged throughout the day or even longer wherever your journey takes you. The thin design of the power bank is perfect for the user who values mobility and the fact that it is incredibly light means it is easily transportable to wherever you go. This power bank contains a USB-C in and out port which is a feature found in under 5% of current power banks. This is made achievable by charging the power bank itself and also your devices, from one USB-C cable and without requiring separate cables and adapters. The device comes with 3A fast charging which is capable of charging an iPhone to 78% in just one hour or half the time compared to standard 2.1A chargers. INIU's in-house developed 15-Layer SmartProtect system regulates and monitors charging to prevent overcharging, overheating, and short circuits. With multi-layer protection, you can be confident that your devices are protected from battery harm when charging. Each purchase includes the power bank itself, a 1-foot USB-C to USB-A cable, travel pouch, user guide, and access to INIU's customer support. This tiny device is a great choice for any user looking for a thin, high-capacity, and safe power bank. Don't let this limited supply slip away as it might run out of stock quickly. See at Amazon
